Cryosurgery is the application of extremely low temperature to destroy abnormal tissue. The technique has been successful in treating some types of cancer and skin disease. Extreme low temperature for cryosurgery is achieved by using liquid nitrogen or argon gas. For treatment of external conditions, liquid nitrogen is applied to the diseased skin cells with the help of a cotton swab or spraying device. To treat internal conditions, liquid nitrogen or argon gas is passed through hollow probes, which are efficiently guided by MRI or ultrasound. Cryosurgery has been successfully applied for treating cancers such as retinoblastoma, basal cell and squamous cell carcinoma, and cervical cancer. The technique is also used for treating cervical dysplasia.
Cryosurgery is a minimally invasive procedure. Increasing prevalence of cancer in developing countries is likely to drive the growth of the cryosurgery equipment market. Moreover, as the application is localized and restricted to abnormal tissues, healthy tissue is maintained and side-effects are reduced. Cryosurgery treatment can also be used in combination with other methods such as hormone therapy, radiation and chemotherapy leading to the reduction in use of drugs causing harmful side effects. Cry-Ac, Cryoalfa, CryoClear, CryoPen, Verruca-Freeze, Premier CryOmega, and CryoProbe are examples of cryosurgery products.
According to World Health Organization, cervical cancer is the fourth most common cancer in women, and the seventh overall, with an estimated 528,000 new cases in 2012. There were an estimated 266,000 deaths from cervical cancer worldwide in 2012, accounting for 7.5% of all female cancer deaths. Almost nine out of ten (87%) cervical cancer deaths occur in less developed regions. According to Centers for Disease Control and Prevention (CDC), in 2014, 12,578 women in the United States were diagnosed with cervical cancer and 4,115 women in the country died from this cancer.
The cryosurgery equipment market is segmented by product type, application, end user, and geography. Based on products, the market is segmented into systems and consumables. Based on application, the market is segmented into cancer, skin tags, skin tumors and others. Based on end user, the market is segmented into hospitals, clinics, diagnostic centers and others.
Geographically, the cryosurgery equipment market has been categorized into five regions, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to be the dominant market in terms of revenue due to increasing demand for minimally invasive procedures and technologically advanced products. Europe is expected to be the second largest market owing to increasing prevalence of cancer. According to the World Health Organization, 1 in 25,000 women die from cervical cancer in the WHO European Region. It remains the second most common cancer among women aged 15-44. The market in Asia Pacific is expected to expand at the highest CAGR during the forecast period due to increasing prevalence of cancer in the region. According to National Center for Biotechnology Information, every year in India, 122,844 women are diagnosed with cervical cancer and 67,477 die from the disease. India has a population of 432.2 million women aged 15 years and older who are at risk of developing cancer. The Latin America cryosurgery equipment market is expected to grow due to increasing demand for minimally invasive procedures. The Middle East & Africa region is expected to witness growth due to increasing disposable income and establishment/expansion of Western companies (North America and Europe) in the regions.
Major players operating in the cryosurgery equipment market include Brymill Cryogenic Systems, Cortex Technology ApS, Wallach Surgical Devices, CryoSurgery, Inc., CryoIQ AB, Cryoswiss GmbH, Medtronic, CryoConcepts LP, and Zimmer MedizinSystems among others
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
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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
- Latin America
- The Middle East and Africa
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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.
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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.
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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?
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