Introduction:

Cryoablation Devices Market was valued at US$ 345.6 million in 2024 and is projected to grow at a CAGR of 13.7% to reach US$ 1243.6 million by 2034.

Cryoablation is a procedure in which an extremely cold instrument called a cryoprobes and liquid are used to freeze and destroy abnormal tissue. These cryoprobes are cooled with substances such as liquid nitrous oxide, liquid nitrogen, and compressed argon gas. Cryoablation procedure can be used to treat certain types of cancer and some conditions that can cause cancer.

Increasing prevalence of cancer, nerve diseases, and cardiac arrhythmia is a key factor driving growth of the global market. In addition, high demand for minimally invasive procedures, coupled with availability of customized probes for cryoablation are propelling growth of the target market. Increasing adoption of cryoablation devices by numbers of physicians is a factor expected to propel growth of the global cryoablation devices market over the forecast period.

Moreover, when patient operated with cryoablation procedure require very short hospital stay along with quick recovery is a factor expected to propel growth of the global cryoablation devices market over the forecast period.  However, cryoablation devices procedure leaves the tissues that are affected with unusual sensations such as irritation of the skin, numbness, and tingling is one of major hampering factors in the target market.

For instance, Results of past and interim results of current trials of cryoablation of stage I low-grade breast cancer with curative intent are promising, with an overall clinical success rate of 98% and recurrence rates consistent with those expected following lumpectomy. This proves success rate of cryoablation therapy in cancer and thus boost the Cryoablation Devices Market.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Cryoablation Devices Market Key Drivers:

Growing Incidence of Cancer

According to WHO, Cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths.

Cryoablation is increasingly being used as a minimally invasive treatment option for various types of cancer, including liver, kidney, prostate, breast, and lung cancers. The rising incidence of cancer globally is a significant driver for the demand for cryoablation devices. A thin needle, called a cryoprobe, is placed directly into the cancerous growth under ultrasound or CT scan guidance. The cryoprobe circulates extremely cold gases like liquid nitrogen to freeze and kill cancer cells. The tissue is then allowed to thaw. Finally, another cycle of freezing is performed. The time required depends on the size, location, and type of tumor.

For instance, in June 2023, doctors at Sir Ganga Ram Hospital have performed cryoablation for cancer treatment on a patient who was not suitable for surgery. According to hospital officials, this is the first time such a procedure has been done in North India. The patient, a 55-year-old woman from Delhi, was suffering from cancer of the gall bladder and was operated on earlier as well. When the cancer spread to the liver, she consulted doctors again. While she was not fit for surgery, cryoablation was chosen for her.

Advancements in Technology

Technological advancements in cryoablation devices have improved their efficacy, safety, and precision, making them more appealing to both patients and healthcare providers. Innovations such as real-time imaging guidance and improved cryoprobes have expanded the application of cryoablation in treating tumors.

Integration of advanced imaging modalities such as ultrasound, magnetic resonance imaging (MRI), and computed tomography (CT) into cryoablation systems allows for real-time visualization of the treatment area. This enables precise targeting of tumors and surrounding tissues, minimizing damage to healthy tissue and improving treatment outcomes.

Cryoablation Devices Market Restrains:

High Cost of Cryoablation Procedures

Cryoablation procedures can be costly due to the equipment, technology, and expertise required. The high upfront costs associated with purchasing cryoablation devices and the need for specialized training for healthcare professionals may limit their adoption, particularly in regions with limited healthcare budgets or reimbursement constraints.

Although cryoablation is promising for use in low-resource settings, most devices are not designed with cost and resource constraints in mind or for use in LMICs (low- and middle-income countries). Current cryoablation systems are too expensive for use in LMICs, as a single treatment can cost upwards of $10,000, with over half of the cost coming from disposable, single-use parts.

Competition from Alternative Technologies

Cryoablation faces competition from alternative minimally invasive treatment options, such as radiofrequency ablation (RFA), microwave ablation, and high-intensity focused ultrasound (HIFU). These alternative technologies may offer comparable efficacy and cost-effectiveness in certain clinical scenarios, leading to competition within the market.

Cryoablation Devices Market is segmented based on Device type, application, end user, and region.

Device Type Insight

• Systems: Systems segment contributes significantly in Cryoablation Devices Market over the forecast period. System is responsible for delivering the cryogenic agent (usually liquid nitrogen or argon gas) to the cryoprobe. It includes components such as gas cylinders or tanks, pressure regulators, valves, tubing, and connectors. The cryogenic delivery system ensures a constant and controlled flow of cryogenic agent to the cryoprobe during the procedure.
• Probes: Probes segment tends to dominate the segment in Cryoablation Devices Market over the forecast period. Probe makes contact with the target which is tumor cells and uses freezing technology to destroy the abnormal tissues. For instance, cryoFORM Cryoablation Probe, a product of AtriCure, is one of the latest generations, which features a thermal capacity to remove heat and increase the flexibility for various ablation treatments.

Application Insights

• Prostate Cancer: The Prostate Cancer segment is estimated to expand the Cryoablation Devices Market over the forecast period. The risk of developing prostate cancer increases with age; the average age of diagnosis is 67. Those with a family history of prostate cancer are more likely to have prostate cancer. Each year 1.2 million cases of prostate cancer are diagnosed, and 350,000 die of the disease, making it the second-leading cause of cancer and cancer death in men.
• Renal Cancer: Reenal cancer contributes significantly in Cryoablation Devices Market over the forecast period. In 2023, an estimated 81,800 adults (52,360 men and 29,440 women) in the United States will be diagnosed with kidney cancer. Worldwide, an estimated 431,288 people were diagnosed with kidney cancer in 2020. The growing cases of individuals diagnosed with cancer are anticipated to propel the growth of the market for cryoablation devices.
• Cardiac Arrhythmia: The cardiac arrhythmia segment dominated the Cryoablation Devices Market owing to the rising cardiovascular disorders that are anticipated to increase the risk of developing heart damage such as abnormal heart valves, cardiomyopathy, narrowed heart arteries, and many more.

According to the WHO, in 2021, 17.9 million deaths occurred due to CVD every year worldwide. Moreover, it is anticipated that more than 3.6 million people will die from CVD, mainly from heart disease and stroke by 2030. The prevalence of getting cardiac arrhythmia is estimated to be between 1.5% to 5.0% in general. Thus, the increasing prevalence of cardiovascular disorders globally is expected to strengthen segment growth.

• Liver Cancer: The Liver cancer segment is estimated to expand the Cryoablation Devices Market over the forecast period. Liver cancer is also a leading cause of cancer deaths worldwide, accounting for more than 700,000 deaths each year. More than 800,000 people are diagnosed with this cancer each year throughout the world.
• Breast Cancer: The breast cancer segment is estimated to expand the Cryoablation Devices Market over the forecast period. According to the American Cancer Society article, published in January 2023, nearly 297,790 and 55,720 novel breast cancer cases and ductal carcinoma in situ (DCIS) respectively will be reported this year. Approximately 43,000 women death cases due to breast cancer will be reported in the year 2023. The growing cases of individuals diagnosed with breast cancer are anticipated to propel the growth of the market for cryoablation devices.

End -user Insight

• Hospitals: Hospital segment dominated the cryoablation devices market over the forecast period. Hospitals are significant contributors to the demand for cryoablation devices, as they perform a wide range of medical procedures that utilize these technologies. Cryoablation is commonly used in hospitals for the treatment of various conditions, including cardiac arrhythmias, cancer, and pain management.
• Ambulatory Surgical Centers: Ambulatory Surgical Centers segment tends to expand market over the forecast period. According to Definitive Healthcare’s platform, in 2022, there were over 11,815 active ambulatory surgical centers present in the U.S. and the number is most likely to rise in the coming years. This rapid growth trend reflects a rising preference for outpatient procedures. The kinds of procedures performed in ambulatory centers have undergone substantial changes in recent years.
• Surgical Clinics: Surgical clinics segment tends to expand market over the forecast period. Surgical clinics serve as accessible points of care where patients can learn about cryoablation as a treatment option. Clinicians at these facilities can educate patients about the benefits, risks, and outcomes associated with cryoablation procedures, helping to increase awareness and acceptance of the technology.

Regional Insights:

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Cryoablation Devices Market Regional Insights

• North America: North America dominates the Cryoablation Devices Market over the forecast period. Rising prevalence of cancer, better healthcare infrastructure, availability of reimbursement, and growing geriatric population. These factors are driving the cryoablation devices market growth in the region.
• Asia Pacific: Asia Pacific is anticipated to register the fastest growth rate during the forecast period. The growing presence of many healthcare providers and the rising patient population in developing countries such as India, Thailand, and China are the major factors estimated to foster market growth.
• Europe: Europe holds a considerable revenue share over the forecast period, owing to the rising public funding in Europe’s healthcare infrastructure. Moreover, the growing geriatric population along with creating awareness by the government organizations to prevent tumors is expected to propel the market growth. Government initiatives and other various factors are anticipated to boost the cryoablation device market in the Asia Pacific during the period. For instance, the European Cancer Observatory targets to spread awareness regarding various options to treat a tumor, such as advanced minimal invasion surgeries, and early diagnostic techniques.
• Latin America: Latin America represents a growing market for cryoablation devices, supported by factors such as improving healthcare infrastructure, rising incidence of chronic diseases, and increasing focus on minimally invasive procedures.
• Middle East & Africa: The Middle East and Africa exhibit potential for growth in the cryoablation devices market, driven by factors such as increasing healthcare investments, rising prevalence of chronic diseases, and growing demand for minimally invasive treatment options.

Report Scope:

Attribute	Details
Market Size 2024	US$ 345.6 million
Projected Market Size 2034	US$ 1243.8 million
CAGR Growth Rate	13.7%
Base year for estimation	2023
Forecast period	2024 – 2034
Market representation	Revenue in USD Billion & CAGR from 2024 to 2034
Market Segmentation	By Device Type - Systems and Probes By Application - Prostate Cancer, Renal Cancer, Cardiac Arrhythmia, Liver Cancer, and Breast Cancer By End User - Hospitals, Ambulatory Surgical Centers, and Surgical Clinics
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Cryoablation Devices Market report based on Device Type, Application and region:

Cryoablation Devices Market, By Device Type:

• Systems
• Probes

Cryoablation Devices Market, By Application:

• Prostate Cancer
• Renal Cancer
• Cardiac Arrhythmia
• Liver Cancer
• Breast Cancer

Cryoablation Devices Market, By End-user:

• Hospitals
• Ambulatory Surgical Centers
• Surgical Clinics

Cryoablation Devices Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Cryoablation Devices Market includes, 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.

Recent Development:

• In May 2023, Kovai Medical Center and Hospital (KMCH) has started cryoablation, a minimally invasive procedure which uses extreme cold to treat cancer. The procedure involves placing a thin needle called a ‘cryoprobe’ with ultrasound or CT scan guidance into the cancer and destroying the tissue by freezing it. The equipment introduced by KMCH uses liquid nitrogen in a closed loop system to freeze tumour cells with the cryoprobe.
• In May 2023, Varian, a Siemens Healthineers company, introduced the Isolis cryoprobe, a single use, disposable device designed for use with CryoCare systems that seeks to improve procedural efficiency and precision for cryoablation. The new device offers the interventional radiologist greater operational control, with features designed to enhance predictability, precision, and efficiency.  It features a small 2.1mm/14-gauge shaft and a sharp probe tip to facilitate smooth and accurate placement.
• In August 2023, Boston Scientific Corporation announced it has received U.S. Food and Drug Administration (FDA) approval for the POLARx Cryoablation System. The new system, which is indicated for the treatment of patients with paroxysmal atrial fibrillation (AF), features the POLARx FIT Cryoablation Balloon Catheter, a device with the unique capability of enabling two balloon sizes – 28 and 31mm – in one catheter.
• In December 2023, Medtronic plc, a global leader in healthcare technology, announced that the United States Food and Drug Administration (FDA) approved the PulseSelect Pulsed Field Ablation (PFA) System for the treatment of both paroxysmal and persistent atrial fibrillation (AF). This is the first PFA technology to receive FDA approval and follows the recent European CE (Conformité Européenne) Mark of the PulseSelect PFA system in November.

• Medtronic Inc.*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• CryoConcepts LP
• Brymill Cryogenic Systems
• Metrum Cryoflex
• CooperSurgical, Inc.
• Cortex Technology
• Cryoalfa
• Erbe Elektromedizin,GmbH
• Galil Medical, Inc.
• Boston Scientific Corporation
• AtriCure, Inc.
• Smith & Nephew plc.
• Varian Medical Systems, Inc.
• Integra LifeSciences Holdings Corporation
• Terumo Corporation
• Johnson & Johnson.

“*” marked represents similar segmentation in other categories in the respective section.

1. Research Objective and Assumption
   • Preface
   • Research Objectives
   • Study Scope
   • Years Considered for the study
   • Assumptions
   • Abbreviations
2. Research Methodology
   • Research data
   • Primary Data
     • Primary Interviews
     • Primary Breakdown
     • Key data from Primary Sources
     • Key Thickness Insights
   • Secondary Data
     • Major Secondary Sources
     • Secondary Sources
   • Market Estimation
   • Top-Down Approach
     • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
   • Bottom-Up Approach
     • Approach for estimating market share by Bottom-up Analysis (Demand Side)
   • Market Breakdown and Data Triangulation
   • Research Assumptions
3. Market Preview
   • Executive Summary
   • Key Findings—Global Outlook for medical carts Strategies
     • Key Questions this Study will Answer
     • Market Snippet, By Device Type
     • Market Snippet, By Application
     • Market Snippet, By End User
     • Market Snippet, By Region
   • Opportunity Map Analysis
   • Executive Summary—3 Big Predictions
4. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restrains
     • Market Opportunities
     • Market Trends
   • DR Impact Analysish
   • PEST Analysis
   • Porter’s Five Forces Analysis
   • Opportunity Orbit
   • Market Investment Feasibility Index
   • Macroeconomic Factor Analysis

Market Segmentation, By Device Type, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Systems
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Probes
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By Application, Forecast Period up to 10 Years, (US$ Bn)

Overview

• Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
• Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
• Segment Trends
• Prostate Cancer
  • Buildings Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Renal Cancer
  • Buildings Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Cardiac Arrhythmia
  • Buildings Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Liver Cancer
  • Buildings Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Breast Cancer
  • Buildings Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By End Users, Forecast Period up to 10 Years, (US$ Bn)

Overview

• Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
• Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
• Segment Trends
• Hospitals
  • Buildings Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Ambulatory Surgical Centers
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Surgical Clinics
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Global Market, By Region, Forecast Period up to 10 Years, (US$ Bn)

Overview

• Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
• Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
• Regional Trends
  • North America
    • Market Size and Forecast (US$ Bn), By Device Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By End User, Forecast Period up to 10 Years

• Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • U.S.
  • Canada
• Europe
  • Market Size and Forecast (US$ Bn), By Device Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By End User, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • UK
    • France
    • Germany
    • Russia
    • Italy
    • Rest of Europe
• Asia Pacific
  • Market Size and Forecast (US$ Bn), By Device Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By End User, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • India
    • Japan
    • South Korea
    • China
    • Rest of Asia Pacific
• Latin America
  • Market Size and Forecast (US$ Bn), By Device Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By End User, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
  • Market Size and Forecast (US$ Bn), By Device Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By End User, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
• GCC
• Israel
• South Africa
• Rest of Middle East

1. Competitive Landscape
   • Heat Map Analysis
   • Market Presence and Specificity Analysis
2. Company Profiles 

• CryoConcepts LP
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Brymill Cryogenic Systems
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Metrum Cryoflex
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• CooperSurgical
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Cortex Technology
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Cryoalfa
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

The Last Word

• Future Impact
• About Us
• Contact