The cryoablation devices global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cryoablation Devices Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cryoablation devices market size has grown rapidly in recent years. It will grow from $0.50 billion in 2023 to $0.56 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to increased funding and grants from government agencies, expansion of cryoablation training and education, the rise of outpatient and ambulatory surgery centers, rise in hybrid treatment approaches, and growth in outpatient procedures.
The cryoablation devices market size is expected to see rapid growth in the next few years. It will grow to $0.83 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to the increasing prevalence of cancer, rising cases of cardiovascular diseases, increasing number of clinical trials, rising geriatric population, and increasing consumption of tobacco and alcohol. Major trends in the forecast period include technological advancements, portable cryoablation devices, nanotechnology integration, hybrid procedures, and artificial intelligence.
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Scope Of Cryoablation Devices Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cryoablation Devices Market Overview
Market Drivers –
The increasing prevalence of cardiovascular diseases is expected to propel the growth of the cryoablation devices market going forward. Cardiovascular diseases (CVD) refer to a class of disorders involving the heart and blood vessels, including conditions like coronary artery disease, hypertension, heart failure, arrhythmias, and stroke. The prevalence of cardiovascular diseases is due to aging populations, rising rates of obesity, and increased exposure to risk factors such as smoking and pollution. Cryoablation devices are a valuable tool in cardiology for treating arrhythmias such as atrial fibrillation by creating controlled lesions in the heart tissue that disrupt abnormal electrical pathways, restoring more normal heart rhythm and improving the quality of life for patients. For instance, in October 2022, according to the World Heart Federation, a Switzerland-based non-governmental organization, the projections indicate a rise in cardiovascular disease (CVD) deaths from 18.9 million in 2020 to surpass 22.2 million by 2030 and to escalate to 32.3 million by 2050. Therefore, the increasing prevalence of cardiovascular diseases is expected to drive the growth of the cryoablation devices market.
Market Trends –
Major companies operating in the cryoablation devices market are focusing on developing innovative products, such as cryo balloon catheters, to improve the efficacy and safety of cryoablation procedures. Cryoballoon catheters are specialized medical devices used in cryoablation procedures, particularly in treating cardiac arrhythmias such as atrial fibrillation (AF). For instance, in November 2021, Medtronic plc, an Ireland-based healthcare company, launched the Arctic Front Cardiac Cryoablation Catheter System. The cardiac cryoablation catheter system is a minimally invasive procedure for treating atrial fibrillation (AFib), involving the insertion of a catheter through a growing vein to the heart, where an inflatable balloon at the catheter’s end releases a special gas coolant to freeze heart tissue and block abnormal electrical signals.
The cryoablation devices market covered in this report is segmented –
1) By Type: Probe, Tissue Contact Probe Ablators, Epidermal And Subcutaneous Cryoablation Systems, Systems, Generator, Accessories And consumables
2) By Application: Cardiology, Oncology, Other Applications
3) By End-Use: Hospitals, Ambulatory Surgical Centers, Specialty Centers, Other End-Users
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Regional Insights –
North America was the largest region in the cryoablation devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cryoablation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the cryoablation devices market are Medtronic plc, Siemens Healthineers AG, GE Healthcare, Boston Scientific Corporation, Varian Medical Systems Inc., CooperSurgical Inc., MicroPort Scientific Corporation, PENTAX Medical, AtriCure Inc., Vimecon GmbH, Erbe Elektromedizin GmbH, MedGyn Products Inc., HealthTronics Inc., METRUM CRYOFLEX Sp. z o.o., BVM Medical Limited., Adagio Medical Inc., Channel Medsystems Inc., CPSI Biotech, CryoTherapeutics GmbH, Endocare Inc., Galil Medical Ltd., Sanarus Technologies Inc., IceCure Medical Ltd.
Table of Contents
- Executive Summary
- Cryoablation Devices Market Characteristics
- Cryoablation Devices Market Trends And Strategies
- Cryoablation Devices Market – Macro Economic Scenario
- Global Cryoablation Devices Market Size and Growth
…………
- Key Mergers And Acquisitions In The Cryoablation Devices Market
- Cryoablation Devices Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Cryoablation Devices Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Cryoablation Devices Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Cryoablation Devices Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
………..
Table 74: Medtronic plc Financial Performance
Table 75: Siemens Healthineers AG Financial Performance
Table 76: GE Healthcare Financial Performance
Table 77: Boston Scientific Corporation Financial Performance
Table 78: Varian Medical Systems Inc. Financial Performance
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