Research analysis on the global cryoablation systems market identifies that the growing preference for cryoablation procedure over RF ablation will be one of the major factors that will have a positive impact on the market’s growth. Cryoablation devices result in less complications when compared to conventional resection procedures because they are less invasive. The adoption of catheter cryoablation (CRYO) enhances the precision and accuracy when compared to radiofrequency ablation (RFA) during the treatment of cardiac arrhythmia. It has been observed that 0.7% of 149 patients who underwent RF ablation suffered from heart blockage and no such inadvertent atrioventricular block complication was reported when patients underwent CRYO. As a result, the cardiac cryoablation is now regarded as one of the most efficient approaches, in turn, increasing the preference for cryoablation systems. According to the cryoablation systems market analysis, Technavio’s market research analysts predict that this market will grow at a CAGR of more than 5% by 2021.
The increased efficiency of cryoimmunotherapy is identified as one of the key trends that will gain traction in the global cryoablation systems market until the end of 2021. Cryoimmunotherapy is effective for the diagnosis of malignant cells or tumors and improves patient outcome. Additionally, it can also reduce the rate of tumors by increasing the level of proinflammatory cytokine and eliminate the malignant cells.
Competitive landscape and key vendors
The cryoablation systems market is fragmented due to the presence of global as well as local players. The vendors are increasingly competing against each other based on factors such as distribution and partnerships, market penetration in new regions, and product precision. Tier-1 manufacturers are focusing on expanding their businesses in different regions through distribution, partnerships, acquisitions, and online marketing. They are also making huge investments in R&D activities to develop advanced products.
Key vendors in this market are -
Other prominent vendors in the market include ACS Myanmar Medical, AtriCure, BVM Medical, Channel Medsystems, CPSI Biotech, ForTec Medical, HealthTronics, IRANBEHDASHT, ICECURE MEDICAL, METRUM CRYOFLEX, PENTAX Medical, Sanarus, and Solution Medical.
Segmentation by end-user and analysis of the cryoablation systems market
Hospitals and clinics
The hospital and clinics segment is gaining popularity over other healthcare units because they are closely engaged with suppliers, cryoablation system manufacturers, and group purchasing organizations. The demand for cryoablation systems is increasing in these hospitals due to the rising number of hospital admissions for ventricular tachycardia, atrial fibrillation (AF), and cancer cases.
Segmentation by geography and analysis of the cryoablation systems market
Based on the cryoablation systems market insights, the rising number of FDA approvals is driving the growth of the cryoablation devices market in the Americas. Companies are launching more products by increasing the number of clinical trials. This proves the efficacy and efficiency of products, which in turn, will boost the adoption of cryoablation systems. The usage of cryoablation in atrioventricular nodal re-entrant tachycardia (AVNRT) that prevents structural heart disease in the older population that increases the risk of developing complete heart block due to the radiofrequency catheter ablation (RFCA), will also propel the growth of this cardiac cryoablation market in the 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 systems market?
What are the key market trends impacting the growth of the global cryoablation systems market?
What are the challenges to market growth?
Who are the key vendors in the global cryoablation systems market?
What are the market opportunities and threats faced by the vendors in the global cryoablation systems 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 systems market?
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