According
to the latest report published by Frank
N Raf Market Researchthe global cryosurgery devices market will grow at a CAGR of
more than 7% during the forecast period. The increasing shift towards minimally
invasive (MI) procedures is one of the key drivers that will stimulate growth
in the market for the next four years. Cryotherapy is a minimally
invasive procedure, which is used in interventional pain therapy. This
procedure reduces the chronic pain by performing the selective disruption or
modification of the pain pathways of the affected nerves. The reduction in chronic
pain encourages doctors to adopt cryoablation to treat different types of
cancer affected patients. This procedure not only destroys the tumour in the
body but also protects the healthy tissues. Patients highly prefer cryosurgery
over other traditional procedures because it reduces the duration of hospital
stay, ensures a quick recovery, and involves a low risk of side effects.
According
to this market study, the Americas accounted for the majority of the market
shares during 2016. The introduction of new products and the increase in
regulatory approvals will boost the adoption of cryosurgery devices in this
region. North America is witnessing an increasing use of cryotherapy chambers
and cryosauna.
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Competitive
landscape and key vendors
Cryosurgery
devices market consists of several global as well as local players. Tier-1
manufacturers are increasingly focusing on distributions, partnerships, and
acquisitions to expand their business. They are also investing in product
development and online marketing in different regions and are taking efforts to
enhance their market shares by creating a strong product portfolio and focusing
on R&D activities. To remain competitive in this global market, the major
companies are focusing on the development of new products with emerging
technologies for accurate treatment.
Brymill Cryogenic Systems
Medtronic
Wallach Surgical Devices
Galil Medical
Segmentation by product and analysis
of the market
Instruments
Consumables and accessories
The demand for instruments is
increasing from the end-users such as tertiary hospitals in urban areas to
provide cryosurgical facilities to patients. Countries such as the US and
Canada in the Americas and the UK, Germany, Israel, Italy, and France in EMEA
highly rely on these instruments. This report also segmentation by end-user and
analysis of the cryosurgery devices market
Hospitals
Specialty clinics and ASCs
Hospitals offer various therapeutic
services to athletes. They highly adopt cryosurgery devices for the diagnosis
of cancer and warts to increase the efficiency of treatment. Majority of
patients prefer hospitals over other healthcare units because they
procure instruments, consumables, and accessories in bulk. The market will
continue to witness grwoth in this end-user segment during the predicted period
since hospitals engage closely with many suppliers, reimbursement authorities,
and government organizations.
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Key questions answered in the report
include
What will the market size and the
growth rate be in 2021?
What are the key factors driving the
global cryosurgery devices market?
What are the key market trends
impacting the growth of the global cryosurgery devices market?
What are the challenges to market
growth?
Who are the key vendors in the global
cryosurgery devices market?
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Frank n Raf Market
Research.
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