Growth of the cryosurgery market is expected to witness significant growth during the forecast period owing to rising demand of minimally-invasive surgeries and increasing applicability of cryosurgery in treating cancer and retinoblastomas. Various types of cancer such as lung, prostate, cervical, and melanomas can be treated by use of cryosurgery. Along with cancer, various skin disorders can also be treated by use of this procedure thereby enhancing the usage and adoption rates for cryosurgery in the market. Other drivers of the market include reduction in the cost of treatment, elimination of adverse effects and availability of improved accessibility to the cancerous cells. Cryosurgical procedures are comparatively less expensive than other cancer surgeries. Usage cryosurgery procedures in combination with radiation and chemotherapies help in reduction of drug administration leading to a considerable decrease in side effects thereby enhancing the market penetration rates for cryosurgical applications. Legal and easy availability of various cryogenic agents such as liquid nitrogen, argon and helium are also expected to further propel the growth of this market.
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Cryosurgery market can be segmented according to various bases. Cryosurgical applications for cancer held the largest market share in 2014 owing to its rising incidences of various forms of cancer in the global population. The most common type of cancer to affect people during the forecast period is expected to be lung cancer and an expected increased usage of cryosurgery for the same is expected to further drive market demand throughout the forecast period. Furthermore, cryo-spray technology accounted for the largest share of the market in 2014. However, dipstick applicator method is expected to grow at a relatively high growth rate due to the higher level of accessibility and lesser collateral damage provided by them. Cryo-probes are least expensive in the current scenario and are expected to dictate the devices segment of the market owing to their increasing demand by healthcare facilities.
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North America accounted for the largest share in 2014 in the global cryosurgery market due to increasing prevalence of cancer and skin disorders in the region along with rising awareness and demand by patients for minimally invasive procedures. India, China, Brazil and Japan are anticipated to witness the fastest growth during the forecast period, thereby promoting Asia Pacific and Latin America as attractive regions for the market. Increasing healthcare spending, improving healthcare infrastructure and facilities, and rising popularity of minimally invasive surgical methods among the people of these regions are major impact rendering drivers for the growth of the market through to 2022. Key players of the cryosurgery market include Wallach Surgical Devices, CryoConcepts LP, Zimmer Medizinsysteme, CoolTouch Inc., SMT Medical, Cortex Technology, Uzumcu, Erbe Medical, Medtronic, Hironic, Cryoalfa Europe Ltd, Mectronic Medicale srl, CryoProbe, Physio Med, and Brymill Cryogenics Systems. Promoting programmes and conferences highlighting the technological advancement and advantages of the procedures by the companies are anticipated to increase awareness among people, boosting the growth of the cryosurgery market during the next seven years.
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