Cryoablation Devices – Rising Demand for Complex Procedures
Many of the primary hepatic cancers are classified as hepatocellular carcinoma. When a cells resembling the hepatocytes aggregates and forms tumor that is called as hepatocellular carcinoma, which is a malignant tumor. However, the resemblance may vary with the intensity of differentiation. Liver cirrhosis is expected to be closely related to the hepatocellular carcinoma, which is potentially a curable form of tumor and can be treated by surgical resection. However, only such patients those who are having localized disease are surgical candidates. Furthermore, impairment of liver function and degree of localization of the tumor determine patient prognosis proliferation. The various clinical trials offers an alternative treatment options for different patients who are not candidates for resection.
According to the World Health Organization (WHO), the number of new cancer cases is expected to increase by 70% by 2030 as compared to 2012. This increase in cancer cases will support growth of cryoablation devices market, as cryoablation is a preferred treatment for cancer. The change in lifestyle and unhealthy eating habits, along with increasing consumption of tobacco and alcohol is the leading cause for growth in number of cancer cases. As per stats released by National Cancer Institute (NCI), around 1,685,210 new cases of cancer were diagnosed in the U.S. in 2016. According to WHO, cancer was the cause for 8.8 million deaths in 2015.As cryoablation devices have more specificity and help curtail growth of targeted cells effectively, demand for these devices is increasing year-on-year in both developed as well as emerging economies for treatment of cancer. As cryoablation procedure avoids major surgery and thus, has low patient recovery time, it is gaining traction across the globe. The market is expected to gain significant traction in emerging economies of Asia Pacific, due to projected spurt in number of cancer cases detected in the region. According to American Cancer Society, 4.3 million new cancer cases were reported in China in 2015 and this number is continuously increasing year-on-year.
Rising demand for cryoablation for complex procedures and rising geriatric population are expected to favor the growth in the adoption rate for cryoablation procedures around the globe over the forecast period
Economies of China and Japan are among the largest markets for cryoablation devices, given their large geriatric population. Cryoablation, being a minimally-invasive procedure, is highly recommended for treatment of elderly people, characterized by a weaken immune system. As per United Nations Department of Economic and Social Affairs (U.N. DESA), there were 125 million people aged 80 years or over in 2015, which is expected to increase to 434 million by 2050. Furthermore, the number of people aged 60 years or over is estimated to grow by 56% between 2015 and 2030. This rise in number of aged population will support the growth of cryoablation devices market through increase in use of cryoablation devices for the treatment of elder people who cannot undergo open heart surgery.
The global cryoablation devices market is estimated to be valued at US$ 122.1 Mn in 2017 and is expected to witness a robust CAGR of 8.5% during the forecast period (2017 – 2025).
Global Cryoablation Devices Market Analysis, By Application – 2016 & 2025
Source: Coherent Market Insights (2017)
Increase in incidence of cancer is expected to create significant market opportunity for players in the cryoablation devices market
According to W.H.O, in 2017, cancer is one of the leading causes for morbidity and mortality around the globe, with around 14 million cases in 2012, the number of new cancer cases is expected to increase by 70% by 2030. Also as per American Cancer Society, in 2016 estimated 1,685,210 new cancer cases were observed in U.S. The market is expected to gain significant traction in emerging economies of Asia Pacific, due to projected spurt in number of cancer cases detected in the region. According to American Cancer Society, 4.3 million new cancer cases were reported in China in 2015. This increase in cancer cases will support the growth of cryoablation devices market in the future.
As cryoablation devices have more specificity and help curtail growth of targeted cells effectively, demand for these devices is increasing year-on-year for the treatment of cancer, also the market players have opportunity to develop technically advanced devices and tap into major lucrative market in North America, which has recently witnessed the approval of these devices for cancer treatment.
Increase in incidence of cardiac disorders such as cardiac arrhythmia, atrial fibrillation, and atrial flutter expected to fuel the growth in cryoablation devices market
According to Centers for Disease Control and Prevention (CDC), every year, around 610,000 people die due to heart disease in the U.S. Furthermore, around 2.7 to 6.1 million people were suffering from atrial fibrillation in 2013-14 in the U.S., the high incidence of cardiac disorders such as cardiac arrhythmia, atrial fibrillation, and atrial flutter is the another factor leading to the growth of cryoablation devices market.
The growing aging population and obesity rate are the major risk factor for atrial fibrillation. As per W.H.O., worldwide obesity has more than doubled and it is reached to more than 1.9 billion obese population in 2014 from 1980, as well as around 41 million children under the age of 5 were obese in 2014 and this number is continuously on rise in emerging countries. As per the stats of W.H.O. around 10.6 million children who are obese found in Africa in 2014, also close to half of the children under 5 who were obese lived in Asia in 2014. This increase in number of obese population in emerging countries will support to expand the customer base for companies in untapped market.
Some of the major companies in cryoablation devices market are Medtronic Inc, Galil Medical Inc, AtriCure, Inc., IceCure Medical and Sanarus Technologies.
Cryotherapy and radiofrequency ablation (RFA) are the two clinically viable ablation modalities that are widely used and cryotherapy is a treatment that uses extreme cold for denaturing the diseased tissues in the human body. In cryoablation therapy, liquid nitrogen or argon gas is passed to the site of treatment using a probe, which creates intense cold that freezes the internal tumors. The procedure is often carried out multiple times till the affected tissue is totally destroyed. The technique yields high effectiveness for treatment of various tumors such as that in the bones, kidneys, breasts, lungs, and liver, and can also be used to treat certain skin conditions. The probe is guided using MRI and ultrasound, which locates the exact position of the affected tissue that proves the specificity of the therapy.
The cryoablation therapy has many applications in various disease such as renal cancer, prostate cancer, breast cancer, liver cancer and cardiac arrhythmias. Adoption of cryoablation procedures is growing as cryoablation is a minimally invasive procedure that avoids major surgery and thus, allows for rapid recovery of the patient. Percutaneous procedure used for the therapy, involves use of a thin needle size probe that is inserted in the body through a small incision.
In 2017, according to Radcliffe Cardiology, for various cardiac arrhythmias cryoablation process worldwide for treating cardiac arrhythmia is now being considered as a safe and efficiently effective alternate to radio frequency ablation.
Cryoablation Devices Market Dynamics
Cryoablation is a minimally invasive procedure that avoids major surgery and helps to avoid the complexity and heavy blood loss during the treatment and patient can resume his daily activities within very less time after the procedure. Therefore the preference for cryoablation treatment is increasing year on year. Also, the cryoablation procedure is beneficial to both the surgeon and patient as regular surgical procedure requires around 1 hour, while cryoablation is a 10-30 minutes procedure. Also, the length of incision in conventional surgery is around 10 mm, while cryoablation requires an incision of only 2 mm. Also, cryoablation do not require general anesthesia.
Continuous development and innovation into probes are expected to favor increase in adoption rate for cryoablation devices in the near future. Increase in geriatric population is expected to be a major push for the market to grow in emerging countries such as China, according to United Nations Department of Economic and Social Affairs (U.N. DESA), there were 125 million people aged 80 years or over in 2015, which is expected to increase to 434 million by 2050. This rise in geriatric population will support the growth of cryoablation devices for the treatment of the elderly people who cannot undergo open heart surgery.
This report segments the global cryoablation devices market on the basis of device type, application, end user and geography. On the basis of device type, the market is categorized into systems and probes. Among these, probes segment dominate the cryoablation devices market. On the basis of application, the market is divided into prostate cancer, renal cancer, liver cancer, breast cancer and cardiac arrhythmia. On the basis of geography, the market is divided into 6 regions. Among all regions, North America dominated the cryoablation devices market, as the hospitals are early adopters cryoablation system and the availability of funds to invest amount in the installation of cryoablation system are the major factor behind the growth of cryoablation devices market in this region.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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