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Cryoablation Devices Market Size

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

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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.

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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.

Cryoablation Devices Market Report Attributes
Report Attribute	Details
Base Year:	2022
Cryoablation Devices Market Size in 2022:	USD 691 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	8.5%
2032 Value Projection:	USD 1.6 Billion
Historical Data for:	2018 to 2022
No. of Pages:	380
Tables, Charts & Figures:	759
Segments covered:	Type, Application, End-use and Region
Growth Drivers:	Increasing prevalence of cancer & cardiovascular disorders Growing demand for minimally invasive procedures Technological advancements in cryoablation devices Rising government initiatives and awareness campaigns
Pitfalls & Challenges:	High cost associated with cryoablation devices Lack of awareness and expertise

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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.

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.