Global Cryoablation Devices Market is Expected to Gain Popularity Across the Globe by 2026

Cryotherapy and radiofrequency ablation (RFA) are the two clinically viable ablation modalities that are widely used and cryotherapy is a treatment that uses extreme cold for denaturing the diseased tissues in the human body. In cryoablation therapy, liquid nitrogen or argon gas is passed to the site of treatment using a probe, which creates intense cold that freezes the internal tumors. The procedure is often carried out multiple times till the affected tissue is totally destroyed. The technique yields high effectiveness for treatment of various tumors such as that in the bones, kidneys, breasts, lungs, and liver, and can also be used to treat certain skin conditions. The probe is guided using MRI and ultrasound, which locates the exact position of the affected tissue that proves the specificity of the therapy.

Some of the major companies in cryoablation devices market are Medtronic Inc, Galil Medical Inc, AtriCure, Inc., IceCure Medical and Sanarus Technologies.

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Continuous development and innovation into probes are expected to favor increase in adoption rate for cryoablation devices in the near future. Increase in geriatric population is expected to be a major push for the market to grow in emerging countries such as China, according to United Nations Department of Economic and Social Affairs (U.N. DESA), there were 125 million people aged 80 years or over in 2015, which is expected to increase to 434 million by 2050. This rise in geriatric population will support the growth of cryoablation devices for the treatment of the elderly people who cannot undergo open heart surgery.

Market Taxonomy

This report segments the global cryoablation devices market on the basis of device type, application, end user and geography. On the basis of device type, the market is categorized into systems and probes. Among these, probes segment dominate the cryoablation devices market. On the basis of application, the market is divided into prostate cancer, renal cancer, liver cancer, breast cancer and cardiac arrhythmia. On the basis of geography, the market is divided into 6 regions.

Key features of the study:

This report provides in-depth analysis of the cryoablation devices market and provides market size (US$ Mn) and Cumulative Annual Growth Rate (CAGR) (%) for the forecast period (2017–2025)

It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market. It provides valuable insights about market drivers, restraints, opportunities, new product launches or approval, pipeline technologies, regional outlook, and competitive strategy adopted by the leading players

It profiles leading players in the global cryoablation devices market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, key developments, and future plans

According to the World Health Organization (WHO), the number of new cancer cases is expected to increase by 70% by 2030 as compared to 2012. This increase in cancer cases will support growth of cryoablation devices market, as cryoablation is a preferred treatment for cancer. The change in lifestyle and unhealthy eating habits, along with increasing consumption of tobacco and alcohol is the leading cause for growth in number of cancer cases. As per stats released by National Cancer Institute (NCI), around 1,685,210 new cases of cancer were diagnosed in the U.S. in 2016.

Increase in incidence of cardiac disorders such as cardiac arrhythmia, atrial fibrillation, and atrial flutter expected to fuel the growth in cryoablation devices market

According to Centers for Disease Control and Prevention (CDC), every year, around 610,000 people die due to heart disease in the U.S. Furthermore, around 2.7 to 6.1 million people were suffering from atrial fibrillation in 2013-14 in the U.S., the high incidence of cardiac disorders such as cardiac arrhythmia, atrial fibrillation, and atrial flutter is the another factor leading to the growth of cryoablation devices market.

The growing aging population and obesity rate are the major risk factor for atrial fibrillation. As per W.H.O., worldwide obesity has more than doubled and it is reached to more than 1.9 billion obese population in 2014 from 1980, as well as around 41 million children under the age of 5 were obese in 2014 and this number is continuously on rise in emerging countries. As per the stats of W.H.O. around 10.6 million children who are obese found in Africa in 2014, also close to half of the children under 5 who were obese lived in Asia in 2014. This increase in number of obese population in emerging countries will support to expand the customer base for companies in untapped market.

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