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Cryoablation Device Market to 2025: Trends, Business Strategies and Opportunities

01-17-2018 08:46 AM CET | Health & Medicine

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Cryoablation Device Market to 2025: Trends, Business

Cryoablation is a treatment in which the irritated nerve is numbed by using localized freezing temperatures. Cryoablation is commonly known as cryosurgery, percutaneous cryoablation, or targeted cryoablation. It is the best treatment used in treating localized cancers, such as prostate cancer and skin cancer, and few abnormal skin cells. Cryoablation is used in treating conditions such as benign nerve growth which is neuromas, various forms of nerve entrapments, pre-cancerous skin nodules, skin tags, retinoblastoma, and liver and cervical cancer. In this treatment, a probe is inserted near the affected tissue and the temperature of the probe goes down effectively to freeze the nerve. The freezing process inactivates the nerve and thus the irritated nerve is relieved from pain. The current cryoablation treatment uses imaging guidance, a cryoprobe which is like a needle applicator, and liquid nitrogen or argon gas for intense freezing to destroy the abnormal cells.

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The global cryoablation device market is expected to be a promising market during the forecast period. The market growth is driven majorly by factors such as innovation in surgery technologies, rising demand for advanced treatment therapy in developed countries, rising incidence of various types of cancer wherein target specific treatment is possible, and increasing prevalence of nerve diseases. In addition, increasing emphasis on minimally invasive surgery over the conventional method is an important factor for the market growth. According to the WHO, it is projected that cancer cases are expected to increase more than 70% by 2030. It is estimated that approximately 9 million deaths are due to various types of cancer. However, the treatment with cryoablation devices leaves the tissue affected with unusual sensations such as numbness, tingling, and irritation of the skin, which is one of the restraining factors for the market growth.

The global cryoablation device market is segmented according to device, application, end-user, and region. In terms of device, the market is segmented into tissue contact probe ablators, epidermal and subcutaneous cryoablation systems, and tissue spray probe ablators. In terms of application, the market is segmented into oncology, dermatology, cardiology, pain management, ophthalmology, and gynecology. In terms of end-user, the market is segmented into hospitals, clinics, ambulatory surgical centers, and research institutes.

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Geographically, the global cryoablation device market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the cryoablation device market due to well-developed health care infrastructure and availability of advanced medical technology and skilled professionals. These are the factors driving the market growth for cryoablation device. Europe is the second largest market for cryoablation devices. Use of advanced medical technology and well-developed health care infrastructure along with increasing awareness about different treatment options are factors boosting the growth of the Europe cryoablation device market. Asia Pacific is expected to project a fast growth rate during the forecast period due to increasing awareness about different treatment options and fast growing economies such as India and China. Latin America is an emerging market for cryoablation treatment and is expected to expand at a significant growth rate due to increasing awareness and improving economic conditions. Middle East & Africa is likely to be a promising market due to slow economic growth and high cost incurred in the treatment. Key players operating in the global cryoablation device market include CryoConcepts LP, Brymill Cryogenic Systems, Metrum Cryoflex, CooperSurgical, Inc., Cortex Technology, Cryoalfa, Erbe Elektromedizin, GmbH, Galil Medical, Inc., Medtronic Inc., Boston Scientific Corporation, AtriCure, Inc., Smith & Nephew plc., Varian Medical Systems, Inc., Integra LifeSciences Holdings Corporation, Terumo Corporation, and Johnson & Johnson.

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