CRYOABLATION DEVICES MARKET ANALYSIS

Cryoablation Devices Market Size and Trends

Global cryoablation devices market is estimated to be valued at USD 408.1 Mn in 2024 and is expected to reach USD 1,021.1 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 14% from 2024 to 2031.

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Rising prevalence of cancer and other cardiovascular diseases, growing geriatric population, and technological advancements in cryoablation devices can drive the market growth. The development of compact, precise, and easy-to-use cryoablation systems have boosted their adoption rate as compared to other conventional ablation procedures. Favorable government policies and rising healthcare expenditures also drives the market growth. However, lack of skilled professionals and limited clinical evidence can hamper the market growth

Growing incidence of cardiac arrhythmias

Global cryoablation devices market growth is driven by rising incidence of cardiac arrhythmias worldwide. Cardiac arrhythmias have become highly common these days due to changing lifestyle and increasing stress levels. Prolonged sitting jobs, lack of physical exercise, diet rich in fat and calories leads to irregular heart rhythms. According to some estimates, over 33 million people suffer from irregular heartbeats globally. Atrial fibrillation is the most frequently diagnosed arrhythmia and associated with several complications if left untreated. Cryoablation is gaining popularity as a treatment option for various types of cardiac arrhythmias due to advantages over other ablation methods. The procedure treats arrhythmia by creating frozen non-conducting scars in the heart muscles to block abnormal conduction pathways. It can isolate and deactivate cardiac tissues responsible for irregular heartbeat. Cryoablation offers higher success rates, minimal effects on heart tissues and reduces risks of complications compared to radiofrequency ablation. Rising healthcare expenditure in developed nations has enabled wider acceptance of advanced ablation devices and techniques for rhythm disorders management. For instance, according to British Heart Foundation in May 2023, the number of people diagnosed with atrial fibrillation, a heart rhythm condition increasing the risk of stroke, has surpassed 1.5 million for the first time, marking a 50% rise since 2013. Approximately 1 in 45 people in the U.K. live with this condition. Atrial fibrillation, the most common type of abnormal heart rhythm, contributes to one in five strokes, making those affected five times more likely to experience a severe stroke. Improved awareness and diagnosis have led to better recognition, yet an estimated 270,000 individuals in the U.K. remain undiagnosed. Symptoms like palpitations, breathlessness, and dizziness are common, though some people may not experience any symptoms, complicating early detection and treatment.

Growing preference for minimally invasive procedures

Growing preference for minimally invasive surgical procedures globally among patients as well as physicians can drive the cryoablation devices market growth. Minimally invasive surgeries are preferred due to benefits such as lesser pain, smaller incisions, shorter hospital stay, quicker recovery time and reduced scarring. Cryoablation, which uses extreme cold to destroy diseased tissue, has emerged as a popular minimally invasive technique for treating cancer and other conditions affecting sites like liver, kidneys and prostate. Cryoablation is often considered as an attractive alternative to traditional surgical procedures for a variety of tumors. Cryoablation of small kidney tumors and early-stage prostate cancer has demonstrated similar clinical outcomes to partial or radical nephrectomy and radical prostatectomy respectively but with considerably lower risks of complications and side effects for patients. As the procedure can be performed via insertion of a probe or catheter through small skin incisions utilizing image guidance, it causes less damage to surrounding healthy tissues as compared to open or laparoscopic surgery. This has led to faster convalescence and return to normal activities for patients. With growing prevalence of cancers worldwide and rising focus on improving quality of life of patients, there has been huge demand for minimally invasive options.