Rising incidences of cancer and demand for protective therapeutic to boost Cryoablation Devices Market growth

Cryoablation Devices Market
Cryoablation Devices Market


Cryoablation Devices Market By Product (Tissue Contact Probe Ablators, Tissue Spray Probe Ablators), By Application (Lung Cancer), By End-use and Geography (North America, Europe, Asia-Pacific, and Rest of the World) Size, Share, Outlook, and Opportunity Analysis, 2023-2030

The global Cryoablation Devices Market is estimated to be valued at reach US$ 374.03 million in 2022  and is expected to exhibit a CAGR of 13.70 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Cyroablation devices are those instruments which are minimally invasive and are used to cure many tumors and arrhythmias. In cyroablation procedure, liquid nitrogen or argon gas is transferred with the help of a probe that produces cold temperature at the site of therapeutic, therefore freezing the inner cancer. Usually a cryoprobe is employed to kill the injured tissues.

Competitive Landscape:

Key players involved in the growth of global Cryoablation Devices Market are Boston Scientific Corporation., Ice Cure Medical, Medtronic, CPSI Biotech, Micro Port Scientific Corporation., METRUM CRYOFLEX Sp. z o.o., COOPERSURGICAL, INC., BVM Medical Limited and ATRICURE, INC.

Market Key Drivers:

Rising incidences of cancer and demand for protective therapeutic is expected to augment the growth of the global Cryoablation Devices Market. For instance, as per WCRF, around18.1 million cancer cases were recorded globally in 2020.

Increasing prevalence of cardiovascular disorders is projected to propel the growth of global Cryoablation Devices Market. For instance, as per NIH, around 59.70 million people suffered from atrial fibliration across the globe in 2019.

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected the growth of global Cryoablation Devices Market due to the surge in pandemic. The rising pandemic cases have imposed strict lockdown and social distancing measures and there was a delay in treating patients suffering from other diseases. The lack of healthcare staff has impeded the market growth.

Key Takeaways:

The global Cryoablation Devices Market is anticipated to exhibit a CAGR of 13.70 % during the forecast period due to rising prevalence of cardiac arrhythmia. For instance, as per NIH, around 6 to 12 million people suffer from cardiac arrhythmia across the globe

Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the global Cryoablation Devices Market due to rising prevalence of cancer cases such as breast cancer, duct cancer, lung cancer and increasing cardiovascular diseases such as cardiomyopathy and atrial fibrillation. For instance, as per CDC, around 221,097 people were diagnosed with lung cancer in U.S., and there have been 139,601 deaths in 2022. 

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