Global Cancer Cryotherapy Market Report and Forecast 2024-2032

Global Cancer Cryotherapy Market Size

The global cancer cryotherapy market is expected to grow at a CAGR of 8.1% during the forecast period 2024-2032 driven by the rising incidence of cancer, advancements in cryotherapy equipment and techniques, and the increasing funding in cancer research.

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Global Cancer Cryotherapy Market Outlook

• Recent data suggests that over 35 million new cancer cases will occur in 2050, which reflects a 77% increase from the estimated 20 million cancer cases in 2022. The rising burden of cancer is expected to directly impact the market demand.

• One of the major market trends is the expansion in indications for cryotherapy, fuelled by ongoing research and positive clinical outcomes.

• The market share is influenced by the growing demand for minimally invasive procedures and heightened awareness regarding the benefits and availability of cryotherapy as a viable treatment alternative.

Global Cancer Cryotherapy Market Overview

Cryotherapy, also called cryosurgery or cryoablation, refers to a treatment system that employs extreme cold (generally produced by argon gas or liquid nitrogen) to kill cancer cells. Through cryotherapy, some types of cancer and precancerous conditions are treated. There are many ways in which cryotherapy may be delivered and its administration depends on the location of the cancer in the body. For cancers on the skin, liquid nitrogen is administered to the cancer area. For cancers occurring within the body, a cryoprobe may be employed. The need for less invasive and effective treatments for cancer is driving the growth of the cancer cryotherapy market.

The market is also influenced by the rising burden of cancer, the growing aging population more prone to developing cancer, and increasing advancements in cryotherapy equipment and techniques. Increased clinical trial activity and continuous research efforts to enhance treatment outcomes are anticipated to support market growth in the forecast period.

Global Cancer Cryotherapy Market Growth Drivers

Rising Prevalence of Cancer Affects the Market Landscape Significantly

The rising burden of cancer directly impacts the market demand for effective treatment modalities including cryotherapy. According to the World Health Organization (WHO),  around 1 in 5 individuals develop cancer in their lifetime, with about 1 out of 9 men and 1 out of 12 women dying from the disease. Moreover, it is predicted that 2050 will see over 35 million new cancer cases, which reflects a 77% increase from the estimated 20 million cancer cases in 2022. The increasing incidence of cancer, along with the rising patient inclination towards minimally invasive procedures, is projected to augment the market demand for cryotherapy treatments.

Intensive Research Efforts to Meet Growing Cancer Cryotherapy Market Demand

Studies are being carried out on cryosurgery to discover possible treatments for oral cancer, mouth conditions that may turn into cancer, colon cancer, breast cancer, kidney cancer, and pancreatic cancer. Studies are also being conducted to investigate cryotherapy in combination with other treatment systems, such as chemotherapy, hormone therapy, radiation therapy, immunotherapy, and surgery. Robust research initiatives, supported by significant investment, can lead to further applications of cryotherapy, which is likely to bolster market growth in the forecast period.

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Global Cancer Cryotherapy Market Trends

The market is witnessing several trends and developments to improve the current global scenario. Some of the notable trends are as follows:

Global Cancer Cryotherapy Market Segmentation

Market Breakup by Product

• Cryoablation System

• Cryoablation Needles

• Cryoprobes

• Others

Market Breakup by Application

• Skin Cancer

• Prostate Cancer

• Cervical Cancer

• Bone Cancer

• Retinoblastoma

• Others

Market Breakup by End User

• Hospitals

• Specialty Clinics

• Oncology Centers

• Ambulatory Surgery Centres

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Cancer Cryotherapy Market Share

Market Segmentation Based on Application Areas is Anticipated to Witness Substantial Growth

Based on application, the market is segmented into skin cancer, prostate cancer, cervical cancer, bone cancer, and retinoblastoma, among others. Cryotherapy is widely used to treat skin cancer by applying extreme cold to destroy abnormal skin cells. Heightened awareness and early detection of skin cancers are contributing to the rising adoption of cryotherapy as a treatment option. Prostate cancer also covers a major share of the segment, due to the rising burden of this cancer and advancements in imaging and targeting technologies.

The cancer cryotherapy market demand is further propelled by the increasing benefits of cryosurgery in treating different types of cancer. Cryotherapy includes smaller punctures or cuts (for tumors occurring within the body), which results in decreased pain and bleeding, reduced damage to tissue in proximity, safe repetition of treatment, and the possibility of supplementing with other treatment systems, etc. These benefits are driving the growth of the application segment which directly impacts the market growth.

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Global Cancer Cryotherapy Market Analysis by Region

Based on the region, the market covers North America, Europe, Asia Pacific, Latin America, along with the Middle East and Africa. North America holds a significant market share owing to the well-established healthcare infrastructure, high healthcare expenditure, and the growing emphasis on innovative cancer treatments. Increased investment to drive innovation and advance cryotherapy techniques also elevates the market value. Further, the presence of a favorable regulatory environment, led by the US Food and Drug Administration (FDA), are poised to drive market growth in the coming years.

Europe also holds a significant cancer cryotherapy market value which can be attributed to rigorous government support for promoting cancer research and the presence of key market players. Further, as international companies continue to expand their market presence and local companies increasingly invest in research and development activities to meet the rising demand for cryotherapy treatments, the Asia Pacific market share is projected to witness exponential growth in the forecast period.

Leading Players in the Global Cancer Cryotherapy Market

The key features of the market report include patent analysis and strategic initiatives including recent partnerships and collaborations by the leading players. The major companies in the market are as follows:

Cooper Surgical, Inc.

Cooper Surgical is a leading player in women’s health care, offering innovative medical devices and diagnostic products. The company is known for its advanced technologies such as Frigitronics Cryo-Plus Cryosurgery System in the cancer cryotherapy segment.

Zimmer MedizinSysteme GmbH

Germany-based medical technology manufacturer Zimmer MedizinSysteme GmbH is a leading provider of medical device system solutions for diagnostics, treatment, and aesthetic medicine. It markets state-of-the-art cryotherapy devices designed for precise and effective cancer treatment and significantly contributes the cancer cryotherapy market growth.

Erbe Elektromedizin GmbH

Erbe Elektromedizin GmbH develops surgical instruments and medical devices for numerous applications including cryosurgery. It boasts a robust portfolio of cryosurgical technology including ERBECRYO® 2 cryo technology, cryoprobes, and associated accessories.

METRUM CRYOFLEX Sp. z o.o

This European manufacturer of medical devices has a prominent presence in the cancer cryotherapy market, offering a range of cryotherapy products for various clinical needs in oncology. The company is engaged in strategic partnerships and distribution agreements to expand its market presence.

Brymill Cryogenic Systems UK Ltd

Brymill Cryogenic Systems, a United Kingdom-based company, is known for its hand-held liquid nitrogen cryosurgical and cryospray devices. These portable cryotherapy units are utilized in various medical fields, including oncology.

Key Highlights of the Report

Key Questions Answered in the Global Cancer Cryotherapy Market Report

• What was the global cancer cryotherapy market value in 2023?
• What is the global cancer cryotherapy market forecast outlook for 2024-2032?
• What are the regional markets covered in the EMR report?
• What is market segmentation based on product?
• What is the market breakup based on application?
• Who are the major end users in the market?
• What are the major factors aiding the global cancer cryotherapy market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years?
• What are the major drivers, opportunities, and restraints in the market? 
• Which regional market is expected to lead the market share in the forecast period? 
• Which country is expected to experience expedited growth during the forecast period? 
• How does the prevalence and incidence of cancer affect the market landscape?
• What are the major global cancer cryotherapy market trends?
• How does the rise in the geriatric population impact the market size?
• What product will dominate the market share? 
• Which application area is expected to have a high market value in the coming years?
• Which end user will contribute significantly to the market growth?
• Who are the key players involved in the cancer cryotherapy market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers and acquisitions among the key market players shaping the market dynamics?