Cryoablation Devices Market – Global Industry Analysis, Trends, Outlook, and Opportunity Analysis, 2017–2025
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.
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The cryoablation therapy has many applications in various disease such as renal cancer, prostate cancer, breast cancer, liver cancer and cardiac arrhythmias. Adoption of cryoablation procedures is growing as cryoablation is a minimally invasive procedure that avoids major surgery and thus, allows for rapid recovery of the patient. Percutaneous procedure used for the therapy, involves use of a thin needle size probe that is inserted in the body through a small incision.
In 2017, according to Radcliffe Cardiology, for various cardiac arrhythmias cryoablation process worldwide for treating cardiac arrhythmia is now being considered as a safe and efficiently effective alternate to radio frequency ablation.
Cryoablation Devices Market Dynamics
Cryoablation is a minimally invasive procedure that avoids major surgery and helps to avoid the complexity and heavy blood loss during the treatment and patient can resume his daily activities within very less time after the procedure. Therefore the preference for cryoablation treatment is increasing year on year. Also, the cryoablation procedure is beneficial to both the surgeon and patient as regular surgical procedure requires around 1 hour, while cryoablation is a 10-30 minutes procedure. Also, the length of incision in conventional surgery is around 10 mm, while cryoablation requires an incision of only 2 mm. Also, cryoablation do not require general anesthesia.
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.
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. Among all regions, North America dominated the cryoablation devices market, as the hospitals are early adopters cryoablation system and the availability of funds to invest amount in the installation of cryoablation system are the major factor behind the growth of cryoablation devices market in this region.
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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.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions with respect to their future product launch, market expansion, and marketing tactics.
The global cryoablation devices market report caters to various stakeholders in this industry, including investors, product developers, distributors, healthcare companies, research institutes, medical device companies, new entrants, and financial analysts.
Stakeholders would greatly benefit in decision making through the various strategy matrices used in analyzing the cryoablation devices market
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