LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global microwave ablation systems market to grow at a CAGR of close to 14% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global microwave ablation systems market for 2017-2021. The report also lists equipment and consumables as the two main product segments.
According to Barath Palada, a lead analyst at Technavio for medical devices research, “The adoption of the image-guided percutaneous ablation process has led to high accuracy and provides better support to both individuals and surgeons, thus leading to the growth of the market.”
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Technavio chemicals and materials analysts highlight the following three market drivers that are contributing to the growth of the global microwave ablation systems market:
- Increasing incidence of chronic diseases and rising older population
- Growing demand for MI procedures
- Rising number of outpatient procedures
Increasing incidence of chronic diseases and rising older population
The sedentary lifestyle negatively affects homeostasis in the body. Also, the eating habits of people worldwide are changing. These factors make people susceptible to many disorders such as CVDs, cancer, urology disorders, and other chronic illnesses. Treatment of all these diseases has become important, leading to increased usage of microwave ablation systems.
Microwave ablation devices are increasingly being used to treat liver and kidney problems. According to the CDC 2015 updates, in 2012, it was estimated that about 117 million people had one or more chronic illness in the US. This accounted for 80% of all deaths, of which, CVD was the leading cause, followed by chronic respiratory diseases and diabetes. Diabetes causes greater complications with CVD.
Growing demand for MI procedures
MI techniques are gaining popularity over conventional surgeries, radiation therapy, and systematic chemotherapy to treat or destroy cancerous cells. These techniques are also used to treat individuals with other associated comorbidities. Also, the MI techniques are increasingly used to manage diseases such as cancerous tumors, cardiac arrhythmia, dermatological conditions, and selected solid tumors, which include tumors in the kidneys, lungs, liver, and the musculoskeletal system. This has fueled the adoption of microwave ablation devices in various medical facilities.
“MI procedures are fast becoming standard techniques in general surgery due to the use of advanced technologies and innovative microwave ablation systems,” says Barath.
Also, the use of MI surgeries reduces the risk of infection, causes minimal complications, leads to a shorter hospital stay, results in less pain, and has a faster recovery time compared to traditional open surgeries.
Rising number of outpatient procedures
The healthcare infrastructure worldwide is undergoing a transition from complicated open surgeries to MI surgeries. This presents significant opportunities for surgeons to establish their own ASCs. Many surgeons are already conducting MI surgeries in an outpatient setting, especially for bone and spine disorders. According to the Agency for Healthcare Research and Quality Statistics, 53% of the surgeries were performed in an outpatient setting in the US in 2012, and this percentage is expected to increase further during the forecast period. Therefore, the rise in outpatient treatment and combinational treatment for various medical conditions will drive the market for microwave ablation systems during the forecast period.
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