The latest report by IMARC Group, titled “Cryoablation Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global cryoablation devices market size reached US$ 366.15 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 787.74 Million by 2028, exhibiting a growth rate (CAGR) of 12.60% during 2023-2028.
Cryoablation devices are medical instruments used in a minimally invasive surgical procedure known as cryoablation or cryotherapy. These devices are designed to freeze and destroy abnormal or unwanted tissue, typically in medical applications related to the treatment of cancer, cardiac arrhythmias, and certain dermatological conditions. In cryoablation, a cryoprobe or catheter is inserted into the target tissue or area within the body. The cryoprobe contains a cooling agent, often liquid nitrogen or argon gas, which is used to rapidly chill the surrounding tissue to extremely low temperatures. This freezing process results in the formation of ice crystals within the cells, leading to cellular damage and, ultimately, tissue destruction. Cryoablation is valued for its ability to precisely target and treat abnormal tissue while minimizing damage to surrounding healthy tissue. In recent years, cryoablation devices have revolutionized medical procedures by offering a less invasive alternative to traditional surgery and have found diverse applications in various medical specialties across the globe.
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Cryoablation Devices Market Trends and Drivers:
The global cryoablation devices market is primarily driven by the increasing adoption of cryoablation as a minimally invasive treatment option due to the rising prevalence of various cancers, particularly in the prostate, kidney, and liver. This is fueled by its effectiveness in targeting and destroying cancerous tissues while preserving healthy surrounding tissues. Moreover, the expanding aging population has catalyzed market growth, as older individuals are more susceptible to conditions like atrial fibrillation, which can be treated with cryoablation. Apart from this, ongoing technological advancements, including the development of more precise and user-friendly cryoablation devices that enhance the safety and efficacy of the procedure, represent another major growth-inducing factor. Additionally, the growing preference for outpatient procedures and reduced hospital stays has accelerated the adoption of cryoablation. Furthermore, the heightened awareness among healthcare providers and patients about the benefits of cryoablation as a viable treatment option is contributing to market growth.
Report Segmentation:
The report has segmented the market into the following categories:
Product Insights:
Tissue Contact Probe Ablators
Epidermal and Subcutaneous Cryoablation Systems
Tissue Spray Probe Ablators
Application Insights:
Lung Cancer
Liver Cancer
Breast Cancer
Kidney Cancer
Prostate Cancer
Cardiac Arrhythmia
End User Insights:
Hospital
Outpatient Facilities
Research and Manufacturing
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Amway Corp. (Alticor Inc.)
Chanel Limited
Coreana Cosmetics Co. Ltd
Guerlain (LVMH)
Isle of Skin Inc
L’Oréal S.A.
Leegeehaam Cosmetics
LG Household & Health Care Ltd.
Mizon Co. Ltd
Sisley Singapore Pte Ltd.
The Estée Lauder Companies Inc.
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