Cryoablation Devices Market

SEATTLE, UNITED STATES, UNITED STATES, January 5, 2022 /EINPresswire.com/ -- Ongoing research and development activities are expected to propel the global cryoablation devices market growth over the forecast period. For instance, In May 2019, CryoConcepts received U.S. Food and Drug Administration clearance for two cryosurgical devices, CryoTouch and CryoLab. CryoTouch is a portable cryosurgical device that delivers cryogen to lesion sites and can use either applicators or cones based on the physician's preference. According to news release by IceCure Medical on August 2019, IceCure received the Israeli AMAR approval for a minimally-invasive cryoablation technology to treat malignant and benign tumors in the breast, lungs, bones, liver, lymphatic tissue, lymph nodes and endocrine glands. Moreover, growing adoption of cryoablation devices in management of complex cardiovascular conditions is expected to drive growth of the global cryoablation devices market during the forecast period.

For instance, in October 2018, Adagio Medical launched the OneShot+ cardio cryoablation catheter intended for pulmonary vein isolation and other continuous ablation lesions of non-pulmonary-vein targets for treating atrial fibrillation. Furthermore, increasing adoption of merger and acquisition strategies are also expected to drive growth of global cryoablation devices market. In July 2018, Boston Scientific announced a definitive agreement to acquire Cryterion Medical Inc., a privately-held company developing a single-shot cryoablation platform for the treatment of atrial fibrillation.
Key companies are focused on new product development, in order to gain a competitive advantage in the market. For instance, in September 2018, BTG International Ltd. Announced the global launch of its ICEfx cryoablation system, an advanced cryoablation system that was added to the company’s minimally invasive therapy portfolio. It is a compact and powerful console, offering predictable, reliable performance with seamless therapy delivery and exceptional ease of technical operation.

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Key Takeaways

• The global cryoablation devices market is expected to exhibit a CAGR of 8.5% over the forecast period, owing to growing cases of cancer and cardiac arrhythmia and rising adoption of minimally invasive procedures

• On the basis of device type, probes segment held a higher market share in 2018, owing to advancement in probes dimensions which are useful for cryoablation procedures and material used to manufacture cryoablation probes.

• On the basis of application, cancer segment held a higher market share in 2018, as the cryoablation procedures are less painful compared to other therapies and lower risk of damaging healthy tissue.

• On the basis of end user, hospital segment dominated the market in 2018, owing to growing number of hospital admittance for ventricular tachycardia and atrial fibrillation (AF).

• Companies operating in the global cryoablation devices market include Medtronic Inc., Galil Medical Inc., AtriCure, Inc., IceCure Medical, CryoConcepts LP, Brymill Cryogenic Systems, CooperSurgical, and Sanarus Technologies.

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The following are the study objectives for this report:

· SWOT Analysis focuses on worldwide main manufacturers to define, assess, and analyse market competition. By kind, application, and region, the market is defined, described, and forecasted.
· Examine the global and main regional market potential and advantage, opportunity and challenge, constraints and risks.
· Determine whether trends and factors are driving or limiting market growth.
· By identifying high-growth categories, stakeholders would be able to analyse market potential.
· Conduct a strategic study of each submarket's growth trends and market contribution.
· Expansions, agreements, new product launches, and acquisitions in the market are all examples of competitive developments.
· To create a strategic profile of the main players and analyse their growth plans in depth.

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