Cryoablation Devices Market Analysis

Cryoablation Devices Market Analysis

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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.