The ‘Global Cancer Cryotherapy Market Size, Share, Report and Forecast 2023-2031’ by Expert Market Research gives an extensive outlook of the global cancer cryotherapy market, assessing the market on the basis of its segments like product, disease, end user, and region.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Cancer Cryotherapy Market Share, Size, Trends, Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2031)
- Forecast CAGR (2023-2031): 30.5%
The global cancer cryotherapy market is being driven by the increasing prevalence of various types of cancer and growing usage of cryoablation systems for their treatment. The cryoablation process can be performed under low anaesthesia due to the ease of the process, as thermal energy is used at a low temperature to destroy the targeted tumour cells. Cancer cryotherapy also offers flexibility of observations in real time which allows specialists and doctors to monitor the freezing cycle, and place additional probes if the need arises. This added flexibility and efficiency makes the cryotherapy procedure easier and adds to the growth in the market.
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Expansion of ambulatory surgical centres (ASCs) in various cities worldwide with facilities for cancer cryotherapy are augmenting the global cancer cryotherapy market. These healthcare facilities offer advantages over traditional hospitals like cost effectiveness, lower waiting times, and less chances of exposure to contagions. The expansion of these facilities benefits the market for cancer cryotherapy as implementation of cryotherapy in these centres is easier and streamlined. Post cryoablation procedures, the chances of exposure are higher in the hospitals as the risk factor remains uncontrolled, however the risks are reduced in ASCs due to their more compact facilities.
Usage of cryotherapy in the prevention of cervical cancer is another crucial factor in the expansion of the cancer cryotherapy market. In this procedure, the cryoprobe is inserted into vagina and it freezes abnormal cells in early stages, thus providing hassle free and effective treatment method for the patients. Its minimal discomfort makes it a preferrable option for many women who do not want to undergo other complex and painful procedures for cervical cancer.
Retinoblastoma is another type of disease that is commonly treated using cryotherapy, however its effectiveness depends upon the size of the tumour. Treatment using cancer cryotherapy generally takes two to three sessions in which specialists place a metal probe on the sclera of the eye, which is closest to the retinoblastoma cells, and the probe is frozen according to the standard procedure, thereby eliminating the cancer cells. This method is effective for the treatment of the small retinoblastoma tumours close to the eye, which is increasing the demand for the cancer cryotherapy market.
Cancer Cryotherapy Industry Definition and Major Segments
Cryotherapy, also known as cryosurgery or cryoablation, is a medical procedure in which tumours and abnormal tissues can be removed surgically under extreme cold temperatures using argon, carbon dioxide, or nitrogen. In cancer cryotherapy, cancer cells are frozen to kill or destroy them. Cancer cryotherapy may be used independently or in combination with other types of cancer treatments such as surgery, immunotherapy, chemotherapy, radiation therapy, or hormone therapy.
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On the basis of product, the market is classified into:
- Cryoablation System
- Cryoablation Needles
- Cryoprobes
- Others
Based on disease, the market is segmented into:
- Retinoblastoma
- Skin Cancer
- Prostate Cancer
- Cervical Cancer
- Actinic Keratosis
- Bone Cancer
- Others
On the basis of end user, the market is categorised into:
- Hospitals
- Speciality Clinics
- Ambulatory Surgery Centres
- Others
Based on region, the market is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Cancer Cryotherapy Market Trends
A key trend propelling the growth of the global cancer cryotherapy market is its rising usage in the treatment of skin cancer like actinic keratosis. The procedure involves drawing a margin around the lesion before nitrogen gas is sprayed on the affected area. An ice ball starts forming as the spraying continues for 30 seconds, and it freezes the area long enough to destroy the cancer affected tissue. The aftereffects include inflammation of the skin in next 24 hours which causes further damage to any remaining cancer cells, thus providing an cancer treatment. This type of treatment is typically recommended for pre-cancer actinic keratosis and occasionally for basal cell carcinoma as it affects the outer layer of the skin.
The applications of cancer cryotherapy in treatment of musculoskeletal tumour lesions are growing. Cancer cryotherapy aids in local disease control as it has a lethal effect on the cancer cells, offering benefits in palliative treatments of metastatic bone lesions in bone tumours like osteoblastoma. It is emerging as a popular alternative to radiofrequency treatment, thereby having a positive effect on the cancer cryotherapy market.
Increasing construction of hospitals, speciality clinics, and other healthcare infrastructure is another crucial trend in the global market for cancer cryotherapy. Expansion of healthcare infrastructure globally, offering top notch facilities and support for cancer cryotherapy procedures are increasing the adoption of this therapy. Initiatives of various governments towards funding hospitals and equipping them with advanced machines and instruments is also having a favourable impact on the cancer cryotherapy market. With rising demand for cancer cryotherapy, market players involved in the production of the cryoablation instruments are increasing their production capacities.
Regionally, North America is projected to account for a substantial share in the global cancer cryotherapy market during the forecast period. The rising prevalence of various cancers in this region and presence of well-established healthcare infrastructure are increasing the availability and usage of cancer cryotherapy. In countries such as the United States, early adoption of cutting-edge technologies is also bolstering the market for cancer cryotherapy in the region.
Meanwhile, in the Asia Pacific, adoption of minimally invasive techniques for treatment of cancer is on rise which is projected to expand the cancer cryotherapy market in the region. Rising investments towards healthcare infrastructure and focus on improvement of the overall healthcare sector in countries such as China, India, Australia, and Japan, are surging the adoption of new technologies. The success rate of cancer cryotherapy and its effectiveness in the treatment of various cancers are enhancing its adoption in the Asia Pacific region.
Key Market Players
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of the cancer cryotherapy market players.
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