Cryoablation Devices Market

Market Overview:

The global cryoablation devices market size reached US$ 412.3 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,084.1 Million by 2032, exhibiting a growth rate (CAGR) of 11.34% during 2024-2032. Significant growth in the healthcare industry, the rising expenditure capacities of consumers, and extensive research and development (R&D) activities represent some of the key factors driving the market.

Cryoablation devices are medical devices that use extremely cold temperatures to destroy or ablate tissue, such as tumors or abnormal cells. These devices use a process called cryoablation, which involves using a probe or applicator to deliver liquid to the targeted tissue. It is generally cooled with substances such as liquid nitrogen, liquid nitrous oxide, or compressed argon gas. Cryoablation devices are widely used to destroy cancerous tumors in various body parts, including the liver, lung, kidney, prostate, and breast. It is also used in minimally invasive (MI) procedures, such as laparoscopic or percutaneous. In addition, cryoablation is generally considered a safe and effective approach that has fewer side effects, less scarring and lowers the chances of infection.

Cryoablation Devices Market Trends:

The rising prevalence of cancer across the globe is one of the key factors driving the market growth. Cryoablation devices are used in cancer treatment to destroy cancerous tumors by freezing them, which involves inserting a thin needle or probe into the tumor, which then delivers cold temperature gas to freeze the tumor and destroy the cancer cells. In line with this, the increasing incidences of atrial fibrillation are acting as another growth-inducing factor. Moreover, the widespread product adoption owing to the growing geriatric population that is at a higher risk for developing certain medical conditions, such as cancer and cardiac arrhythmias, is favoring the market growth. Apart from this, the increasing utilization of multiple freeze-thaw cycles to extend the effects into areas more distant from the cryoprobe and help to improve the effectiveness of the procedure and minimize damage to healthy tissue is providing an impetus to the market growth. Additionally, the growing inclination of patients and surgeons towards non-invasion or minimal invasion treatment procedures due to its numerous advantages, such as patient comfort, minimized turnaround time, and speedy recovery, is creating a positive outlook for the market. Furthermore, the introduction of advanced cryoablation devices with new probes and needles that are more precise, easier to use, and effective is propelling the market growth. Other factors, including significant growth in the healthcare industry, rising expenditure capacities of consumers, extensive research and development (R&D) activities, development of automated systems, widespread adoption of tissue contact probe ablators, and the implementation of various government initiatives to prevent tumors and provide access to healthcare services are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global cryoablation devices market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product, application, and end user.

Product Insights:

• Tissue Contact Probe Ablators
• Epidermal and Subcutaneous Cryoablation Systems
• Tissue Spray Probe Ablators
   

The report has provided a detailed breakup and analysis of the cryoablation devices market based on the product. This includes tissue contact probe ablators, epidermal and subcutaneous cryoablation systems, and tissue spray probe ablators. According to the report, tissue contact probe ablators represented the largest segment.

Application Insights:

• Lung Cancer
• Liver Cancer
• Breast Cancer
• Kidney Cancer
• Prostate Cancer
• Cardiac Arrhythmia
   

The report has provided a detailed breakup and analysis of the cryoablation devices market based on the application. This includes lung, liver, breast, kidney, prostate cancer, and cardiac arrhythmia. According to the report, cardiac arrhythmia represented the largest segment.

End User Insights:

• Hospital
• Outpatient Facilities
• Research and Manufacturing
   

The report has provided a detailed breakup and analysis of the cryoablation devices market based on the end user. This includes hospital, outpatient facilities, and research and manufacturing. According to the report, hospitals represented the largest segment.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for cryoablation devices. Some of the factors driving the North America cryoablation devices market included the significant growth in the healthcare industry, rapid technological advancements, and extensive research and development (R&D) activities.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global cryoablation devices market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Atricure Inc., Boston Scientific Corporation, Coopersurgical Inc., Cpsi Biotech (Cell Preservation Services Inc.), Healthtronics Inc, Icecure Medical, Medtronic Plc, Metrum Cryoflex Sp. Z O.O., etc.  Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Cryoablation Devices Market Report Scope:

Key Questions Answered in This Report:

• How has the global cryoablation devices market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global cryoablation devices market?
• What is the impact of each driver, restraint, and opportunity on the global cryoablation devices market?
• What are the key regional markets?
• Which countries represent the most attractive cryoablation devices market?
• What is the breakup of the market based on the product?
• Which is the most attractive product in the cryoablation devices market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the cryoablation devices market?
• What is the breakup of the market based on the end user?
• Which is the most attractive end user in the cryoablation devices market?
• What is the competitive structure of the global cryoablation devices market?
• Who are the key players/companies in the global cryoablation devices market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the cryoablation devices market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global cryoablation devices market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the cryoablation devices industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.