Market Analyzes the Current and Future Prospects of Cryosurgery Equipment Market : Key Trends,Challenges and Standardization, Research, Key Players, Economic Impact and Forecast to 2017-2025
About Cryosurgery Equipment Market
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.
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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.
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