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Global Cryoablation Devices Market Size, Trends, Report: By Type: Tissue Contact Probe Ablators, Epidermal and Subcutaneous Cryoablation Systems, Tissue Spray Probe Ablators; By Applications: Prostate Cancer, Renal Cancer, Liver Cancer, Breast Cancer, Lung Cancer, Others; By End User; Regional Analysis; Supplier Landscape; 2024-2032
Global Cryoablation Devices Market Outlook
The global cryoablation devices market size was valued at USD 457.7 million in 2023, driven by emphasis on using minimally invasive procedures to treat cancer across the globe. The market is expected to grow at a CAGR of 10.3% during the forecast period of 2024-2032, with the values likely to rise from USD 504.8 million in 2024 to USD 1106.0 million by 2032.
Cryoablation Devices: Introduction
Cryoablation devices are used to destroy an abnormal or cancerous tissue with the help of extremely cold temperatures. Cryoablation is done with the help of ultrasound or computed tomography (CT) scans to visualize the affected area. It is commonly used to treat cancer in patients, particularly advised when the cancer is too risky to operate on.
Global Cryoablation Devices Market Analysis
The rising incidence of cancer cases has led to a significant surge in the treatment methods. Since cryoablation is a minimally invasive and precise treatment, it is generally preferred by patients as well as healthcare professionals. Therefore, the cryoablation devices market demand has observed an upswing in the recent years.
Cryoablation is also applied in the treatment of atrial fibrillation. During the procedure, the pulmonary vein receives cryotherapy through the balloon catheter which freezes the abnormal tissue and blocks the irregular signals. In August 2023, Boston Scientific has received an FDA approval of their POLARx™ cryoablation system, which follows the same mechanism to treat atrial fibrillation.
The cryoablation devices market value is anticipated to grow with the soaring improvements in the existing models. AtriCure manufactured cryoICE cryoablation probes called CRYO2 and CRYO3 offer superior work capacity as they are quick to achieve the demanded temperature and contain nitrous oxide instead of Argon, leading to higher heat absorption capacity. It also contains a retractable handle along with a flexible tube to enable multiple handle positions.
ProSense® System, introducers, and disposable cryoprobes by IceCure Medical Ltd. has also received regulatory approval in Canada and China, implying that the cryoablation devices market growth will increase further in the forecast period.
Global Cryoablation Devices Market Segmentation
Market Breakup by Type
- Tissue Contact Probe Ablators
- Epidermal and Subcutaneous Cryoablation Systems
- Tissue Spray Probe Ablators
Market Breakup by Applications
- Prostate Cancer
- Renal Cancer
- Liver Cancer
- Breast Cancer
- Lung Cancer
- Cardiac Arrhythmia
Market Breakup by End User
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centres
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Cryoablation Devices Market Overview
The Asia Pacific market is expected to grow at an exponential rate with continuous advancements on the cancer treatment front. Being a centre for easy resources and academic talent, several healthcare companies have been investing in the region. Recently, NovoMed Incorporation Pvt. Ltd. launched IceCure Medical’s flagship machine “ProSense” in four Indian hospitals. Such collaborations indicate that the region is likely to hold a substantial cryoablation devices market share in the future.
Cancer is one of the leading causes of mortality in the United States, anticipated to observe approximately 1,958,310 new cancer cases in 2023. Therefore, there has been high prioritization on reducing the burden of the fatal disease. The presence of prominent healthcare companies, research institutions, and technically equipped healthcare infrastructure are some of the major factors that will add up contribute to the North America cryoablation devices market size. Furthermore, government initiatives to educate the public regarding cancer treatment and surgeries is another essential aspect for the high market value.
Global Cryoablation Devices Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Atricure, INC.
- Galil Medical INC.
- Metrum Cryoflex SP
- BVM Medical Limited
- Medtronic plc
- CPSI Biotech
- CooperSurgical INC.
- HealthTronics, INC.
- Icecure Medical
- Sanarus Technologies
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Applications |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Cryoablation Devices Market Overview
3.1 Global Cryoablation Devices Market Historical Value (2017-2023)
3.2 Global Cryoablation Devices Market Forecast Value (2024-2032)
4 Global Cryoablation Devices Market Landscape
4.1 Global Cryoablation Devices: Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Cryoablation Devices: Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Applications
5 Global Cryoablation Devices Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Cryoablation Devices Market Segmentation
6.1 Global Cryoablation Devices Market by Type
6.1.1 Market Overview
6.1.2 Tissue Contact Probe Ablators
6.1.3 Epidermal and Subcutaneous Cryoablation Systems
6.1.4 Tissue Spray Probe Ablators
6.2 Global Cryoablation Devices Market by Applications
6.2.1 Market Overview
6.2.2 Prostate Cancer
6.2.3 Renal Cancer
6.2.4 Liver Cancer
6.2.5 Breast Cancer
6.2.6 Lung Cancer
6.2.7 Cardiac Arrhythmia
6.3 Global Cryoablation Devices Market by End User
6.3.1 Market Overview
6.3.2 Hospitals
6.3.3 Specialty Clinics
6.3.4 Ambulatory Surgical Centres
6.4 Global Cryoablation Devices Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Cryoablation Devices Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Cryoablation Devices Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Cryoablation Devices Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Cryoablation Devices Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Cryoablation Devices Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding and Investment Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Supplier Landscape
16.1 Atricure, INC.
16.1.1 Financial Analysis
16.1.2 Product Portfolio
16.1.3 Demographic Reach and Achievements
16.1.4 Mergers and Acquisitions
16.1.5 Certifications
16.2 Galil Medical INC.
16.2.1 Financial Analysis
16.2.2 Product Portfolio
16.2.3 Demographic Reach and Achievements
16.2.4 Mergers and Acquisitions
16.2.5 Certifications
16.3 Metrum Cryoflex SP
16.3.1 Financial Analysis
16.3.2 Product Portfolio
16.3.3 Demographic Reach and Achievements
16.3.4 Mergers and Acquisitions
16.3.5 Certifications
16.4 BVM Medical Limited
16.4.1 Financial Analysis
16.4.2 Product Portfolio
16.4.3 Demographic Reach and Achievements
16.4.4 Mergers and Acquisitions
16.4.5 Certifications
16.5 Medtronic plc
16.5.1 Financial Analysis
16.5.2 Product Portfolio
16.5.3 Demographic Reach and Achievements
16.5.4 Mergers and Acquisitions
16.5.5 Certifications
16.6 CPSI Biotech
16.6.1 Financial Analysis
16.6.2 Product Portfolio
16.6.3 Demographic Reach and Achievements
16.6.4 Mergers and Acquisitions
16.6.5 Certifications
16.7 CooperSurgical INC.
16.7.1 Financial Analysis
16.7.2 Product Portfolio
16.7.3 Demographic Reach and Achievements
16.7.4 Mergers and Acquisitions
16.7.5 Certifications
16.8 HealthTronics, INC.
16.8.1 Financial Analysis
16.8.2 Product Portfolio
16.8.3 Demographic Reach and Achievements
16.8.4 Mergers and Acquisitions
16.8.5 Certifications
16.9 Icecure Medical
16.9.1 Financial Analysis
16.9.2 Product Portfolio
16.9.3 Demographic Reach and Achievements
16.9.4 Mergers and Acquisitions
16.9.5 Certifications
16.10 Sanarus Technologies
16.10.1 Financial Analysis
16.10.2 Product Portfolio
16.10.3 Demographic Reach and Achievements
16.10.4 Mergers and Acquisitions
16.10.5 Certifications
17 Key Opinion Leaders (KOL) Insights (Additional Insight)
18 Company Competitiveness Analysis (Additional Insight)
18.1 Very Small Companies
18.2 Small Companies
18.3 Mid-Sized Companies
18.4 Large Companies
18.5 Very Large Companies
19 Payment Methods (Additional Insight)
19.1 Government Funded
19.2 Private Insurance
19.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market attained a value of about USD 457.7 million in 2023, driven by the increasing preference for minimally invasive cancer treatment.
The market is anticipated to grow at a CAGR of 10.3% during the forecast period of 2024-2032, likely to reach a market value of USD 1106.0 million by 2032.
The market demand has increased due to the rising application of cryoablation devices in treating several types of cancer as well as atrial fibrillation. It has also surged with the arrival of advanced technology enabled devices.
Numerous cryoablation systems are receiving FDA validation allowing their application across the world. For example, Boston Scientific obtained FDA approval for their POLARx™ cryoablation system. Similarly, IceCure Medical Ltd.’s ProSense® System also received regulatory approval in China and Canada.
It includes tissue contact probe ablators, epidermal and subcutaneous cryoablation systems, and tissue spray probe ablators.
Common application areas include prostate cancer, renal cancer, liver cancer, breast cancer, lung cancer, and cardiac arrhythmia.
Major end users include hospitals, speciality clinics, and ambulatory surgical centres.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is currently leading the global market.
Key players involved in the market are Atricure, INC., Galil Medical INC., Metrum Cryoflex SP, BVM Medical Limited, Medtronic plc, CPSI Biotech, CooperSurgical INC., HealthTronics, INC., Icecure Medical, and Sanarus Technologies
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