The global cryoablation devices market accounted for USD 0.425 billion in 2023 and is expected to reach at USD 1.74 billion by 2034 with a CAGR of 13.71% during the forecast period 2024-2034. Rising prevalence of cancer, heightened demand for safer treatment alternatives, increasing preference for minimally invasive procedures by patients & surgeons, growing focus on the development of advanced cancer ablation techniques, rising prevalence of atrial fibrillation, increase in the prevalence of tumors such as lung, breast, & prostate cancer, among others, growing technological advancements, and surge in introduction of advanced medical devices, and rising regulatory approval of cutting-edge cryoablation devices are some of the key factors boosting the market growth.
Rising regulatory approval of cutting-edge cryoablation devices is predicted to boost the market growth during the forecast period. Cryoablation involves the destruction of tissues and cells through freezing, resulting in cellular damage, death, and tissue necrosis. Cryoablation devices, which are minimally invasive, are utilized to treat a variety of cancers and arrhythmias. During cryoablation, a probe delivers liquid nitrogen or argon gas to generate cold temperatures at the treatment site, effectively freezing internal tumors. For instance, in August 2023, The US Food and Drug Administration (FDA) has approved Boston Scientific Corporation's POLARx Cryoablation System.
By product, tissue contact probe ablators was the highest revenue-grossing segment in the global cryoablation devices market in 2023 owing to rise in the adoption of evolving trends & consumption patterns in healthcare, increased focus from manufacturers in the development of advanced cryoablation devices, and increasing technological advancements in probe nanotechnologies. Additionally, tissue spray probe ablators is predicted to grow at the fastest CAGR during the forecast period owing to the manufacturers are increasingly prioritizing the development of sophisticated tissue probe ablators, with key players boosting their investments in this area and securing more approvals from regulatory agencies. For instance, in August 2023, Boston Scientific Corporation announced that the FDA has cleared their Visual ICE cryoablation device under section 501(k) for a wider range of applications.
By application, cardiac arrhythmia was the highest revenue-grossing segment in the global cryoablation devices market in 2023 owing to the increase in cardiovascular disorders and rise in the approval of new devices by regulatory agencies. For instance, in February 2022, The FDA approved Medtronic plc's cardiac cryoablation catheters, Freezor and Freezor Xtra, to treat young patients with atrioventricular nodal re-entrant tachycardia. Additionally, breast cancer is predicted to grow at the fastest CAGR during the forecast period owing to the growing prevalence of breast cancer, growing number of individuals diagnosed with breast cancer.
By end-user, hospital was the highest revenue-grossing segment in the global cryoablation devices market in 2023 owing to the increase in the number of cardiac arrhythmia surgeries, surge in number of cancer cases, and growing introduction of advanced devices. For instance, in June 2023, IceCure Medical, headquartered in Israel, has launched ProSense, a cryoablation system that offers ultrasound or CT probe-guided treatment for tumor elimination. This system is being distributed in India by NovoMed Incorporation. Additionally, outpatient facilities is predicted to grow at the fastest CAGR during the forecast period owing to the growing number of ambulatory surgical centers, rising preference for outpatient procedures, increasing technological advancements in minimally invasive surgeries.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing prevalence of cancer, improved healthcare infrastructure, expanding elderly population, heightened funding for healthcare infrastructure, government organizations' efforts to raise awareness for tumor prevention, and rising introduction of innovative medical devices. For instance, in April 2024, AtriCure, Inc., revealed the release of the cryoSPHERE + cryoablation probe, incorporating innovative insulation technology to decrease freeze durations by 25% compared to the company's previous cryoSHPERE device. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing number of healthcare providers, expanding patient population, rise in government initiatives, growing adoption of advanced technologies, and increase in regulatory approvals. For instance, in December 2023, Cryofocus Medtech Co., Ltd. has announced the acquisition of marketing approval for its internally developed Atrial Fibrillation Cryoablation System ("AF Cryoablation System") from the National Medical Products Administration of the People's Republic of China.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Rising regulatory approval of cutting-edge cryoablation devices is predicted to boost the market growth during the forecast period. Cryoablation involves the destruction of tissues and cells through freezing, resulting in cellular damage, death, and tissue necrosis. Cryoablation devices, which are minimally invasive, are utilized to treat a variety of cancers and arrhythmias. During cryoablation, a probe delivers liquid nitrogen or argon gas to generate cold temperatures at the treatment site, effectively freezing internal tumors. For instance, in August 2023, The US Food and Drug Administration (FDA) has approved Boston Scientific Corporation's POLARx Cryoablation System.
By product, tissue contact probe ablators was the highest revenue-grossing segment in the global cryoablation devices market in 2023 owing to rise in the adoption of evolving trends & consumption patterns in healthcare, increased focus from manufacturers in the development of advanced cryoablation devices, and increasing technological advancements in probe nanotechnologies. Additionally, tissue spray probe ablators is predicted to grow at the fastest CAGR during the forecast period owing to the manufacturers are increasingly prioritizing the development of sophisticated tissue probe ablators, with key players boosting their investments in this area and securing more approvals from regulatory agencies. For instance, in August 2023, Boston Scientific Corporation announced that the FDA has cleared their Visual ICE cryoablation device under section 501(k) for a wider range of applications.
By application, cardiac arrhythmia was the highest revenue-grossing segment in the global cryoablation devices market in 2023 owing to the increase in cardiovascular disorders and rise in the approval of new devices by regulatory agencies. For instance, in February 2022, The FDA approved Medtronic plc's cardiac cryoablation catheters, Freezor and Freezor Xtra, to treat young patients with atrioventricular nodal re-entrant tachycardia. Additionally, breast cancer is predicted to grow at the fastest CAGR during the forecast period owing to the growing prevalence of breast cancer, growing number of individuals diagnosed with breast cancer.
By end-user, hospital was the highest revenue-grossing segment in the global cryoablation devices market in 2023 owing to the increase in the number of cardiac arrhythmia surgeries, surge in number of cancer cases, and growing introduction of advanced devices. For instance, in June 2023, IceCure Medical, headquartered in Israel, has launched ProSense, a cryoablation system that offers ultrasound or CT probe-guided treatment for tumor elimination. This system is being distributed in India by NovoMed Incorporation. Additionally, outpatient facilities is predicted to grow at the fastest CAGR during the forecast period owing to the growing number of ambulatory surgical centers, rising preference for outpatient procedures, increasing technological advancements in minimally invasive surgeries.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing prevalence of cancer, improved healthcare infrastructure, expanding elderly population, heightened funding for healthcare infrastructure, government organizations' efforts to raise awareness for tumor prevention, and rising introduction of innovative medical devices. For instance, in April 2024, AtriCure, Inc., revealed the release of the cryoSPHERE + cryoablation probe, incorporating innovative insulation technology to decrease freeze durations by 25% compared to the company's previous cryoSHPERE device. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing number of healthcare providers, expanding patient population, rise in government initiatives, growing adoption of advanced technologies, and increase in regulatory approvals. For instance, in December 2023, Cryofocus Medtech Co., Ltd. has announced the acquisition of marketing approval for its internally developed Atrial Fibrillation Cryoablation System ("AF Cryoablation System") from the National Medical Products Administration of the People's Republic of China.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product, Application, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
Segmentation: Cryoablation Devices Market Report 2023 - 2034
Cryoablation Devices Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Epidermal and Subcutaneous Cryoablation Systems
- Tissue Spray Probe Ablators
- Tissue Contact Probe Ablators
Cryoablation Devices Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Kidney Cancer
- Liver Cancer
- Prostate Cancer
- Lung Cancer
- Breast Cancer
- Cardiac Arrhythmia
Cryoablation Devices Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Research & Manufacturing
- Hospital
- Outpatient Facilities
Cryoablation Devices Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Cryoablation Devices Market: Product Estimates & Trend Analysis
8. Cryoablation Devices Market: Application Estimates & Trend Analysis
9. Cryoablation Devices Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Cryoablation Devices Market
12. Europe Global Cryoablation Devices Market
13. Asia Pacific Global Cryoablation Devices Market
14. Latin America Global Cryoablation Devices Market
15. MEA Global Cryoablation Devices Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Micro Port Scientific Corporation.
- Boston Scientific Corporation
- METRUM CRYOFLEX Sp. z o.o.
- COOPERSURGICAL Inc.
- BVM Medical Limited
- Ice Cure Medical
- ATRICURE Inc.
- CPSI Biotech
- Medtronic
