Cryoablation Devices Market Size - By Type (Probe, Systems), By Application (Cardiology, Oncology), By End-use (Hospitals, Specialty Centers, Ambulatory Surgical Centers) – Global Forecast to 2032

Cryoablation Devices Market Size

Cryoablation Devices Market size was valued at over USD 690 million in 2022 and is predicted to reach more than USD 1.5 billion by 2032.
 

Cryoablation devices are medical instruments that are utilized in cryoablation operations. Cryoablation is a procedure that includes freezing and destroying aberrant tissues or cells in the body using extremely low temperatures. A cryoablation console or system as well as a probe or catheter are commonly utilized in cryoablation treatments. Additionally, the rise in healthcare expenditure among developed and emerging economies is projected to contribute to the market growth. Investments in healthcare infrastructure and the availability of reimbursement policies for cryoablation procedures will further facilitate the market expansion.
 

Continuous advancements in cryoablation devices will act as a significant factor to accelerate the market penetration. The development and launch of advanced technology with inbuilt devices that offer better device performance, accuracy and safety will spur the demand for cryoablation devices. Furthermore, several manufacturers are producing devices with superior cooling processes, enhanced imaging capabilities and improved catheter designs for precise and efficient tissue targeting that will thereby propel the market growth potential.

COVID-19 Impact

The COVID-19 pandemic had moderately negative impact on the cryoablation devices market in 2020. The pandemic disrupted global supply chains led to shortages of medical products, including cryoablation devices. This caused price fluctuations and delayed delivery times that impacted the availability of these products in some regions. As a result, the COVID-19 stifled the expansion of the market. Moreover, during the pandemic, healthcare systems globally faced immense pressure to allocate resources and prioritize COVID-19 patients. As a result, many non-essential procedures, including certain cryoablation treatments were postponed or cancelled. This led to a decline in demand for cryoablation devices as hospitals and clinics focused on urgent and essential care.
 

However, as vaccination efforts progress and healthcare systems adapt to the new normal there is a rebound in non-essential medical procedures, including cryoablation treatments. The rescheduling of postponed procedures and the increasing focus on cancer and other disease diagnosis and treatment stimulated the demand for cryoablation devices in the year 2021.
 

Cryoablation Devices Market Trends

The rising prevalence rate of chronic diseases such as cancer and cardiovascular diseases is further augmenting the market progress. For instance, according to the World Health Organization (WHO), cardiovascular diseases are responsible for approximately 17.9 million deaths each year. Similarly, the WHO stated that in 2020, cancer was a leading cause of morbidity across the globe and accounted for more than 10 million deaths worldwide. Further, more than 2.2 million new individuals were diagnosed with lung cancer and around 1.4 million with prostate cancer in the year 2020. Thus, an upsurge in the chronic disease burden around the world is predicted to propel the market demand.
 

Moreover, the growing preference for minimally invasive procedures among patients and healthcare providers such as cryoablation procedures that offer several benefits such as reduced trauma, shorter recovery times, and lower risk of complications compared to traditional surgical interventions will contribute to the adoption of cryoablation devices.
 

Cryoablation Devices Market Analysis

Based on type, the cryoablation devices market is bifurcated into probe and systems. The probe segment further subdivided into epidermal and subcutaneous cryoablation systems, tissue contact probe ablators, and tissue spray probe ablators. Systems segment is segregated into generator and accessories & consumables. The probe segment is anticipated to witness highest growth during the forecast period. Continuous technological advancements including probe design improvements, temperature monitoring systems, and imaging techniques enhanced the safety and effectiveness of cryoablation procedures. These advancements will contribute to increase adoption of cryoablation probe segment.
 

Moreover, tissue contact probe ablators held large market share in 2022. Growing preference for minimally invasive procedures in cancer diagnostics will drive the demand for tissue contact probe ablators. Patients and healthcare providers are seeking treatment options that offer shorter recovery times, reduced complications, and improved patient comfort. Further, tissue contact probe ablators allow precise and targeted ablation while minimizing damage to surrounding tissues thereby, witnessing greater adoption rate.
 

Cryoablation devices market by application is categorized into cardiology, oncology, and others. Further, cancer segment is subdivided into lung cancer, liver cancer, breast cancer, kidney cancer, prostate cancer, and others. The cancer segment accounting for more than 51% business share in 2022. The high revenue growth is owing to upsurge in cancer prevalence rate worldwide, technological advancements, and growing patient inclination towards minimally invasive therapies. Rising incidence of cancer globally is a primary factor for the market growth. Moreover, as cancer cases continue to grow, the need for effective treatment options increases. Cryoablation gains prominence as a viable treatment modality for various types of cancer including prostate, liver, kidney, lung, and breast, thereby accelerating segment growth potential.
 

The cryoablation devices market is segmented by end-use into hospitals, specialty centers, ambulatory surgical centers, and others. The hospitals segment crossed more than USD 350 million revenue size in 2022. High segment growth is attributed to rising number of people suffering from several chronic ailments such as cardiovascular diseases and cancer across developing countries. Moreover, integration of advanced ablation devices including cryoablation devices for precise treatment is projected to witness high market demand.
 

Further, increasing disposable spending and developing healthcare infrastructure in developing nations will contribute considerably towards adoption of cryoablation devices in hospitals thereby positively influencing to segmental progress.
 

U.S. cryoablation devices market accounted for more than USD 250 million in 2022 and is anticipated to showcase considerable market growth over the estimated timeframe. Growing prevalence of cancer in the U.S. will act as a prominent factor propelling the market in the country. For instance, in 2022, the American Cancer Society estimated that more than 1.9 million new cancer cases were detected in the U.S. Thus, increasing number of cancer population will boost the market size. Further, emerging specialized cryoablation centers in the U.S. that provide specialized expertise, modern equipment, and comprehensive care for patients undergoing cryoablation procedures will bolster the market demand.
 

Cryoablation Devices Market Share

Some of the eminent market participants operating in the cryoablation devices market include:

• Boston Scientific Corporation
• MicroPort Scientific Corporation
• CPSI Biotech
• Medtronic Plc.
• BVM Medical Limited.
• CooperSurgical, Inc.
• Atricure, Inc.
• Ice Cure Medical,
• AngioDynamics
• METRUM CRYOFLEX Sp. z o.o.
• Healthtronics, Inc.
• CONMED Corporation
• Olympus Corporation

These industry players are implementing numerous growth strategies such as collaborations, partnerships, acquisitions & mergers, and new product development & launches to broaden their product portfolio as well as gain a competitive edge over others.

Cryoablation Devices Industry News:

• In August 2022, Medtronic Plc. acquired Affera, Inc. Affera is a prominent player in cardiac ablation devices. This has broadened company’s cardiac ablation portfolio including cardiac mapping and navigation platform, radiofrequency and cryoablation technology, thereby strengthened company’s offerings in the significant market.
   
• In February 2022, Medtronic plc received approval for its Freezor and Freezor Xtra cardiac cryoablation catheters by U.S. FDA to treat pediatric patients suffering from atrioventricular nodal re-entrant tachycardia. This strategy broadened company’s customer base thereby augmenting its business revenue size
   

Cryoablation devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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By Type (USD Million & 000’ Units)

• Probe
• Tissue contact probe ablators
• Epidermal and subcutaneous cryoablation systems
• Tissue spray probe ablators

• Systems
• Generator
• Accessories & consumables

By Application (USD Million)

• Cardiology
• Oncology
  • Lung cancer
  • Breast cancer
  • Liver cancer
  • Kidney cancer
  • Prostate cancer
  • Others
• Others

By End-use (USD Million)

• Hospitals
• Ambulatory surgical centers
• Specialty centers
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Switzerland
  • The Netherlands
  • Denmark
  • Poland
  • Sweden
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • New Zealand
  • Thailand
  • Vietnam
  • Indonesia
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Israel
  • Turkey