Global Cryoablation Devices Market 2017-2021

Overview of the global cryoablation devices market

Market research analysts at Technavio predict that the global cryoablation devices market will grow steadily at a CAGR of over 6% by 2021. This market research analysis identifies the increase in the incidence of cancer and cardiac arrhythmia as one of the primary growth factors for this market. The most defining features of cancerous cells are its malignancy and abnormal growth. Cardiac arrhythmias are characterized by abnormal heart rhythms. The growth of the market is expected to increase over the forecast period at a moderate rate due to the high adoption among physicians and the increasing number of atrioventricular nodal re-entrant tachycardia (AVNRT) procedures to treat these diseases.

The shift towards minimally invasive procedures is one of the latest trends that will gain traction in the cryoablation devices market in the coming years. Cryoablation is considered as one of the effective minimally invasive procedures, which uses frigid temperatures to kill cancer cells while preserving the surrounding tissues. It is extremely effective at destroying kidney tumors while protecting the healthy tissues. Additionally, it has also been observed that patients require a very short hospital stay and experience a quick recovery and can return to normal activity with a lower risk of side effects from this procedure.

Competitive landscape and key vendors

The cryoablation devices market is characterized by the presence of established players and there is intense competition in the market among the key players. Tier-1 manufacturers prefer investing in product development and in expanding their businesses using partnerships and acquisitions of other small companies in different geographical regions. Smaller companies focus on product differentiation to sustain the competition from bigger players.

The leading vendors in the market are -

• Medtronic
• Galil Medical
• CooperSurgical

The other prominent vendors in the market include ACS Myanmar Medical, AtriCure, BVM Medical, CPSI Biotech, ForTec Medical, HealthTronics, IRANBEHDASHT, ICECURE MEDICAL, METRUM CRYOFLEX, RA Distribution, and Solution Medical.

Segmentation by end-user and analysis of the cryoablation devices market

• Hospitals and specialty clinics
• ASCs

During 2016, the hospitals and specialty clinics segment accounted for the major shares of this market. The demand for cryoablation devices and catheters in hospitals will increase due to the growing number of hospital admittance for ventricular tachycardia and atrial fibrillation (AF). The incidence rate of cancer patients in China has increased and this has led to the set-up of cryoablation facilities in hospitals and specialty clinics to meet the demand.

Geographical segmentation and analysis of the cryoablation devices market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market by 2021. Countries such as China, India, and Thailand have improved their healthcare infrastructures and offer easily accessible and affordable treatment options. These countries offer cryoablation procedures at lower costs than the developed countries, such as the US and the UK, making them hotspots for medical tourism. This will subsequently boost the growth of the market in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global cryoablation devices market?
• What are the key market trends impacting the growth of the global cryoablation devices market?
• What are the challenges to market growth?
• Who are the key vendors in the global cryoablation devices market?
• What are the market opportunities and threats faced by the vendors in the global cryoablation devices market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global cryoablation devices market?

Technavio also offers customization on reports based on specific client requirement.

Cryoablation is a process that uses extremely low temperature to destroy diseased tissue. It employs a cryogenic material, such as liquid nitrogen, to freeze cancer cells. To help clients achieve actionable intelligence, market research firm Technavio provides an extensive collection of industry research reports on several aspects of the orthopedic and general medical devices sector. Moreover, the market intelligence reports from Technavio also provide detailed information on several international and regional players of the healthcare industry.

To determine the industry's growth prospects, market analysts at Technavio follow a collaboration of quantitative and qualitative data collection methods and consider elements like the market size and the demand for multiple products across different regions across the globe. Our forthcoming market research report on the cryoablation devices market for the prediction period of 2017 to 2021 will support clients infer the constantly changing landscape of the healthcare and life sciences industry. The report on cryoablation devices market also considers into account the growth of the corresponding markets such as interventional oncology market and microwave ablation systems market, which are expected to grow at a CAGR of above 11% and around 14% until 2021. According to our research analysts, the increase in the incidence of cancer and cardiac arrhythmia are the key to the growth of this market across the globe.

The upcoming industry research report on cryoablation devices market also identifies the primary drivers, impending trends, coupled with the key challenges currently experienced by the orthopedic and general medical devices sector. It also presents a detailed insight into the dynamically changing competitive landscape, to give you an extensive insight of the future direction of the industry.