Cryoablation Devices Market Size, Share & Trends Analysis Report By Product (Tissue Contact Probe Ablators, Tissue Spray Probe Ablators) By Application (Lung Cancer, Breast Cancer), By End-use, By Region, And Segment Forecasts, 2023 To 2030

Cryoablation devices offer various benefits such as fewer side effects, easy recovery, cost-effective, etc. These benefits represent lucrative growth opportunities for the cryoablation market. In addition, new product launches and various studies being carried out by the government authorities, to broaden the application of cryoablation is also driving the growth of the market. For instance, November 2019, National Cancer Institute, launched the study to determine the effect of cryoablation on adaptive resistance to immunotherapy in metastatic cancer patients. 

Increasing prevalence of cancer such as lung and prostrate cancer and cardiac arrhythmia is another major factor boosting the growth of cryoablation market. According to study published by CDC, in October 2022, an estimated 12.1 million U.S. citizens will have Atrial Fibrillation in 2030. On the other hand, according to the American Society of Clinical Oncology, in 2020, an estimated 1.4 million men were diagnosed with prostate cancer, globally.

Increasing preference for minimally invasive surgeries is another factor driving the growth of the market. Preference for a good cosmetic outcome has led to shift towards breast-conserving, minimally invasive procedures such as radiotherapy and ablation therapies instead of surgery.

Cryoablation Devices Market Segmentation

Based on application, the cardiac arrhythmia segment is expected to experience maximum growth owing to increasing prevalence and rising efforts of manufacturers to develop and expand the application of their products to treat this condition. While the breast cancer segment dominated the market due to increasing adoption of cryoablation devices in treatment of breast cancer.

Key players operating in the cryoablation devices market includes Boston Scientific, MicroPort Scientific Corporation, Medtronic Plc., CooperSurgical Inc., AtriCure Inc., Galil Medical, BVM Medical Limited, CPSI Biotech, HealthTronics, Inc., IceCure Medical and METRUM CRYOFLEX Sp. Manufacturers in the Market are focusing on launching new products in the market and expanding the application of the products that are already a part of their product portfolio. For instance, In February 2022, Medtronic Plc, received an expanded FDA approval for its Freezorand FreezorXtra Cardiac Cryoablation Focal Catheters to treat the growing prevalence of pediatric Atrioventricular Nodal Reentrant Tachycardia (AVNRT).