Cryoablation is a treatment in which the irritated nerve is numbed by using localized freezing temperatures. Cryoablation is commonly known as cryosurgery, percutaneous cryoablation, or targeted cryoablation. It is the best treatment used in treating localized cancers, such as prostate cancer and skin cancer, and few abnormal skin cells. Cryoablation is used in treating conditions such as benign nerve growth which is neuromas, various forms of nerve entrapments, pre-cancerous skin nodules, skin tags, retinoblastoma, and liver and cervical cancer. In this treatment, a probe is inserted near the affected tissue and the temperature of the probe goes down effectively to freeze the nerve. The freezing process inactivates the nerve and thus the irritated nerve is relieved from pain. The current cryoablation treatment uses imaging guidance, a cryoprobe which is like a needle applicator, and liquid nitrogen or argon gas for intense freezing to destroy the abnormal cells.

The global cryoablation device market is expected to be a promising market during the forecast period. The market growth is driven majorly by factors such as innovation in surgery technologies, rising demand for advanced treatment therapy in developed countries, rising incidence of various types of cancer wherein target specific treatment is possible, and increasing prevalence of nerve diseases. In addition, increasing emphasis on minimally invasive surgery over the conventional method is an important factor for the market growth. According to the WHO, it is projected that cancer cases are expected to increase more than 70% by 2030. It is estimated that approximately 9 million deaths are due to various types of cancer. However, the treatment with cryoablation devices leaves the tissue affected with unusual sensations such as numbness, tingling, and irritation of the skin, which is one of the restraining factors for the market growth.

The global cryoablation device market is segmented according to device, application, end-user, and region. In terms of device, the market is segmented into tissue contact probe ablators, epidermal and subcutaneous cryoablation systems, and tissue spray probe ablators. In terms of application, the market is segmented into oncology, dermatology, cardiology, pain management, ophthalmology, and gynecology. In terms of end-user, the market is segmented into hospitals, clinics, ambulatory surgical centers, and research institutes.

Geographically, the global cryoablation device market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the cryoablation device market due to well-developed health care infrastructure and availability of advanced medical technology and skilled professionals. These are the factors driving the market growth for cryoablation device. Europe is the second largest market for cryoablation devices. Use of advanced medical technology and well-developed health care infrastructure along with increasing awareness about different treatment options are factors boosting the growth of the Europe cryoablation device market. Asia Pacific is expected to project a fast growth rate during the forecast period due to increasing awareness about different treatment options and fast growing economies such as India and China. Latin America is an emerging market for cryoablation treatment and is expected to expand at a significant growth rate due to increasing awareness and improving economic conditions. Middle East & Africa is likely to be a promising market due to slow economic growth and high cost incurred in the treatment.

Key players operating in the global cryoablation device market include CryoConcepts LP, Brymill Cryogenic Systems, Metrum Cryoflex, CooperSurgical, Inc., Cortex Technology, Cryoalfa, Erbe Elektromedizin, GmbH, Galil Medical, Inc., Medtronic Inc., Boston Scientific Corporation, AtriCure, Inc., Smith & Nephew plc., Varian Medical Systems, Inc., Integra LifeSciences Holdings Corporation, Terumo Corporation, and Johnson & Johnson.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Cryoablation Device Market

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