Market Overview:
The global cryoablation system market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth in the market can be attributed to the increasing incidence of cancer, technological advancements in cryoablation systems, and rising demand for minimally invasive procedures. Based on type, the prostate cryoablation system segment is expected to account for the largest share of the global cryoablation system market in 2018. This segment is also projected to grow at a CAGR of 7.8% from 2018 to 2030. The large share and high growth rate of this segment can be attributed to factors such as growing prevalence of prostate cancer and increasing preference for minimally invasive procedures over traditional surgical procedures. Based on application, hospitals are expected to account for the largest share of the global cryoablation system market in 2018.
Product Definition:
A cryoablation system is a device that uses cold temperatures to destroy tissue. The importance of cryoablation systems is that they can be used to treat medical conditions such as tumors, lesions, and other abnormalities.
Prostate Cryoablation System:
The prostate cryoablation system is a device that uses extreme cold to destroy or reduce the size of the prostate gland. The demand for this procedure has increased over recent years and it is now one of the most frequently performed surgical procedures in many urologic centers.
Factors such as increasing prevalence of benign prostatic hyperplasia, rising awareness about this treatment option among patients & doctors.
Renal Cryoablation System:
The renal cryoablation system is used in the treatment of kidney stones, renal calculi (renal stones), and other diseases related to the urinary tract. It uses extremely cold temperatures to destroy or reduce the size of tissues that are blocking urine flow through a frozen section of urinary tract. The device works by destroying or reducing the blood supply and therefore prevents cells from repairing damaged areas thus shrinking urological abnormalities such as a kidney stone.
Application Insights:
The other application segment includes Cryoablation System for treatment of breast cancer, colorectal cancer, head & neck cancer and others. The hospital application segment held the largest share in 2017 due to increasing number of patients suffering from various cancers being treated with cryoablation system at hospitals across the world. According to data published by NCBI, in 2018 more than 90% of cryoablations are performed at hospitals.
Cryotherapy is used for treating prostate carcinoma, which accounts for a significant share in the global market owing to rising incidence rates and awareness regarding early detection and treatment of this disease. In addition, favorable reimbursement policies coupled with technological advancements that have made it easier to perform complex procedures are some factors responsible for its dominance over other applications globally.
Regional Analysis:
North America dominated the global market in 2017 owing to a rise in the prevalence of cancer and other diseases leading to an increase in FDA approvals. The region is expected to maintain its dominance over the forecast period due to increasing R&D investments by various companies for development of advanced products. Asia Pacific is expected to grow at a lucrative rate during the forecast period due to rising disposable income, improving healthcare infrastructure, and growing awareness about cryoablation procedures.
Key players operating within this industry include Cryos International BV; Medtronic; Stryker Corporation; Terumo Medical Corporation; Abbott Laboratories Inc.; Boston Scientific Corporation.
Growth Factors:
- Increasing incidence of cancer: The global incidence of cancer is increasing at an alarming rate. This is primarily due to the changing lifestyle and dietary habits of people across the world. According to a study by the World Health Organization (WHO), the number of new cancer cases is expected to rise from 14 million in 2012 to 22 million by 2030. This will create a large pool of patients who will require treatment, including cryoablation therapy.
- Growing awareness about cryoablation therapy: There is growing awareness among doctors and patients about the benefits of cryoablation therapy over traditional treatments such as surgery and radiation therapy. This has led to an increase in demand for cryoablation systems worldwide.
- Technological advancements: Cryotherapy technology is constantly evolving, with new systems being developed that offer better performance and safety features than older models. This has helped boost adoption rates for cryoablation systems, especially in developed countries where healthcare spending is high.
Scope Of The Report
Report Attributes
Report Details
Report Title
Cryoablation System Market Research Report
By Type
Prostate Cryoablation System, Renal Cryoablation System, Cardiac Cryoablation System, Other
By Application
Hospital, Clinic, Other
By Companies
Medtronic, Cooper, Johnson & Johnson, ForTec Medical, Boston Scientific, Angiodynamics, Atricure, Smith & Nephew, Conmed, Olympus
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
206
Number of Tables & Figures
145
Customization Available
Yes, the report can be customized as per your need.
Global Cryoablation System Market Report Segments:
The global Cryoablation System market is segmented on the basis of:
Types
Prostate Cryoablation System, Renal Cryoablation System, Cardiac Cryoablation System, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Clinic, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Medtronic
- Cooper
- Johnson & Johnson
- ForTec Medical
- Boston Scientific
- Angiodynamics
- Atricure
- Smith & Nephew
- Conmed
- Olympus
Highlights of The Cryoablation System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Prostate Cryoablation System
- Renal Cryoablation System
- Cardiac Cryoablation System
- Other
- By Application:
- Hospital
- Clinic
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Cryoablation System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Cryoablation is a medical technology that uses cryogenic temperatures to destroy cancer cells.
Some of the major companies in the cryoablation system market are Medtronic, Cooper, Johnson & Johnson, ForTec Medical, Boston Scientific, Angiodynamics, Atricure, Smith & Nephew, Conmed, Olympus.
The cryoablation system market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cryoablation System Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Cryoablation System Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Cryoablation System Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Cryoablation System Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Cryoablation System Market Size & Forecast, 2018-2028 4.5.1 Cryoablation System Market Size and Y-o-Y Growth 4.5.2 Cryoablation System Market Absolute $ Opportunity
Chapter 5 Global Cryoablation System Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Cryoablation System Market Size Forecast by Type
5.2.1 Prostate Cryoablation System
5.2.2 Renal Cryoablation System
5.2.3 Cardiac Cryoablation System
5.2.4 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Cryoablation System Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Cryoablation System Market Size Forecast by Applications
6.2.1 Hospital
6.2.2 Clinic
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Cryoablation System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Cryoablation System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Cryoablation System Analysis and Forecast
9.1 Introduction
9.2 North America Cryoablation System Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Cryoablation System Market Size Forecast by Type
9.6.1 Prostate Cryoablation System
9.6.2 Renal Cryoablation System
9.6.3 Cardiac Cryoablation System
9.6.4 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Cryoablation System Market Size Forecast by Applications
9.10.1 Hospital
9.10.2 Clinic
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Cryoablation System Analysis and Forecast
10.1 Introduction
10.2 Europe Cryoablation System Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Cryoablation System Market Size Forecast by Type
10.6.1 Prostate Cryoablation System
10.6.2 Renal Cryoablation System
10.6.3 Cardiac Cryoablation System
10.6.4 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Cryoablation System Market Size Forecast by Applications
10.10.1 Hospital
10.10.2 Clinic
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Cryoablation System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Cryoablation System Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Cryoablation System Market Size Forecast by Type
11.6.1 Prostate Cryoablation System
11.6.2 Renal Cryoablation System
11.6.3 Cardiac Cryoablation System
11.6.4 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Cryoablation System Market Size Forecast by Applications
11.10.1 Hospital
11.10.2 Clinic
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Cryoablation System Analysis and Forecast
12.1 Introduction
12.2 Latin America Cryoablation System Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Cryoablation System Market Size Forecast by Type
12.6.1 Prostate Cryoablation System
12.6.2 Renal Cryoablation System
12.6.3 Cardiac Cryoablation System
12.6.4 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Cryoablation System Market Size Forecast by Applications
12.10.1 Hospital
12.10.2 Clinic
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Cryoablation System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Cryoablation System Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Cryoablation System Market Size Forecast by Type
13.6.1 Prostate Cryoablation System
13.6.2 Renal Cryoablation System
13.6.3 Cardiac Cryoablation System
13.6.4 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Cryoablation System Market Size Forecast by Applications
13.10.1 Hospital
13.10.2 Clinic
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Cryoablation System Market: Competitive Dashboard
14.2 Global Cryoablation System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Medtronic
14.3.2 Cooper
14.3.3 Johnson & Johnson
14.3.4 ForTec Medical
14.3.5 Boston Scientific
14.3.6 Angiodynamics
14.3.7 Atricure
14.3.8 Smith & Nephew
14.3.9 Conmed
14.3.10 Olympus