LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global cryoablation systems market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global cryoablation systems market will grow at a moderate rate during the forecast period. Factors such as favorable reimbursement scenario and technological advancements in developed and developing countries such as the US, Canada, and Brazil positively influence the growth of the market. Also, a paradigm shift toward minimally invasive procedures will accelerate the market growth.
Srinivas Sashidhar, a lead analyst from Technavio, specializing in research on the orthopedics and medical devices sector, says, “Increasing number of mergers between large and small hospitals and growing adoption of robotic platforms to increase the surgical precision have boosted the sales of cryoablation systems. Favorable reimbursement in the US for both patients and healthcare professionals has driven the market growth.”
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The top three emerging trends driving the global cryoablation systems market according to Technavio research analysts are:
- Increased efficiency of cryoimmunotherapy
- Paradigm shift toward minimally invasive procedures
- Increasing acquisitions and partnerships
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Increased efficiency of cryoimmunotherapy
Immunotherapy with the help of cryoablation is a growing market trend, which can increase the adoption of cryoablation systems and thereby increase profits of manufacturers. Cryoimmunotherapy is considered to be an effective therapy for the diagnosis of malignant cells or tumors. According to a study conducted by the Teikyo University School of Medicine, in 2017, cryoablation, along with immunotherapy, is an effective and safer alternative to improve future patient outcome.
“The study revealed that cryoimmunotherapy can result in the elimination of malignant cells by increasing proinflammatory cytokine levels, which, in turn, leads to a decline in growth rate of tumors. For the immunological anti-tumor effect, dendritic cells and several immune-regulatory agents are combined with the use of cryoablation system to increase surgical efficacy,” according to Srinivas.
Paradigm shift toward minimally invasive procedures
Cryoablation is considered as one of the effective, minimally invasive procedures, which uses extremely cold temperatures to kill cancer cells while preserving the surrounding tissues. According to reports published by Galil Medical, physicians across the world have been using cryoablation to treat different types of cancer. It is extremely effective to destroy kidney tumors and protects the healthy tissues.
The use of cryoablation systems in AF treatment offers maximum efficacy. The demand for cryoablation systems increased globally due to the increasing prevalence of AF worldwide. Therefore, the increase in the number of populations suffering from AF will increase the demand for the cryoablation procedure to meet the unmet needs of the population.
Increasing acquisitions and partnerships
Acquisitions and partnerships are the key growth strategies adopted by top companies in the global cryoablation systems market. This strategy helps vendors expand their business base to different regions. In 2017, PENTAX Medical expanded its Interventional Endoscopy offering with the acquisition of C2 Therapeutics which develops the C2 CryoBalloon Ablation System for the endoscopic ablation of unwanted tissue such as Barrett’s esophagus.
In 2016, the strategic acquisition of Galil Medicals by BTG helped BTG expand its market in untapped markets in various regions. The company would gain more recognition and product acceptance, increasing its market revenue in cryosurgery as it is one of the leading vendors in the market.
The key vendors are as follows:
- Galil Medical
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