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Cryoablation Devices Market Trends

Report ID: GMI6025
Published Date: Jun 2023
Report Format: PDF

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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.

Authors: Mariam Faizullabhoy , Pratiksha Kamthe

Frequently Asked Questions (FAQ) :

Global market for cryoablation devices was over USD 690 million in 2022 and will reach more than USD 2 billion by 2032.

Cancer segment was more than 51% in 2022 owing to a rise in cancer prevalence worldwide, technological advancements, and growing patient inclination towards minimally invasive therapies.

U.S. cryoablation devices market size was more than USD 250 million in 2022 and will continue growing through 2032, attributed to the growing prevalence of cancer and emerging specialized cryoablation centers in the country.

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 and Olympus Corporation, among others.