The objective of this report is to define, describe, and forecast the market on the basis of type, application, medical condition, and region. It provides detailed information regarding the major factors influencing the growth of the market. This report also tracks and analyzes competitive developments of the key players in terms of market developments, product portfolios, and financials.
Cryosurgery is the application of extremely low temperature to destroy abnormal tissue. The technique has been successful in treating some types of cancer and skin disease. Extreme low temperature for cryosurgery is achieved by using liquid nitrogen or argon gas. For treatment of external conditions, liquid nitrogen is applied to the diseased skin cells with the help of a cotton swab or spraying device. To treat internal conditions, liquid nitrogen or argon gas is passed through hollow probes, which are efficiently guided by MRI or ultrasound. Cryosurgery has been successfully applied for treating cancers such as retinoblastoma, basal cell and squamous cell carcinoma, and cervical cancer. The technique is also used for treating cervical dysplasia.
Cryosurgery is a minimally invasive procedure. Increasing prevalence of cancer in developing countries is likely to drive the growth of the cryosurgery equipment market. Moreover, as the application is localized and restricted to abnormal tissues, healthy tissue is maintained and side-effects are reduced. Cryosurgery treatment can also be used in combination with other methods such as hormone therapy, radiation and chemotherapy leading to the reduction in use of drugs causing harmful side effects. Cry-Ac, Cryoalfa, CryoClear, CryoPen, Verruca-Freeze, Premier CryOmega, and CryoProbe are examples of cryosurgery products.
According to World Health Organization, cervical cancer is the fourth most common cancer in women, and the seventh overall, with an estimated 528,000 new cases in 2012. There were an estimated 266,000 deaths from cervical cancer worldwide in 2012, accounting for 7.5% of all female cancer deaths. Almost nine out of ten (87%) cervical cancer deaths occur in less developed regions. According to Centers for Disease Control and Prevention (CDC), in 2014, 12,578 women in the United States were diagnosed with cervical cancer and 4,115 women in the country died from this cancer.
The cryosurgery equipment market is segmented by product type, application, end user, and geography. Based on products, the market is segmented into systems and consumables. Based on application, the market is segmented into cancer, skin tags, skin tumors and others. Based on end user, the market is segmented into hospitals, clinics, diagnostic centers and others.
Geographically, the cryosurgery equipment market has been categorized into five regions, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to be the dominant market in terms of revenue due to increasing demand for minimally invasive procedures and technologically advanced products. Europe is expected to be the second largest market owing to increasing prevalence of cancer. According to the World Health Organization, 1 in 25,000 women die from cervical cancer in the WHO European Region. It remains the second most common cancer among women aged 15-44. The market in Asia Pacific is expected to expand at the highest CAGR during the forecast period due to increasing prevalence of cancer in the region. According to National Center for Biotechnology Information, every year in India, 122,844 women are diagnosed with cervical cancer and 67,477 die from the disease. India has a population of 432.2 million women aged 15 years and older who are at risk of developing cancer. The Latin America cryosurgery equipment market is expected to grow due to increasing demand for minimally invasive procedures. The Middle East & Africa region is expected to witness growth due to increasing disposable income and establishment/expansion of Western companies (North America and Europe) in the regions.
Major players operating in the cryosurgery equipment market include Brymill Cryogenic Systems, Cortex Technology ApS, Wallach Surgical Devices, CryoSurgery, Inc., CryoIQ AB, Cryoswiss GmbH, Medtronic, CryoConcepts LP, and Zimmer MedizinSystems among others
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
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Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
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