Global Cryosurgical Equipment Market Trends, Forecast Report 2025-2037
Cryosurgical Equipment Market size is projected to grow from USD 2.1 billion to USD 5 billion, witnessing a CAGR of over 8.6% during the forecast period, between 2025 and 2037. In the year 2025, the industry size of cryosurgical equipment is estimated at USD 2.3 billion.
The increasing incidences of cancer and skin ailments around the world are driving demand for minimally invasive surgeries, fueling the market. In this regard, WHO projected the global number of new oncology cases to surpass 30.4 million every year by 2030. Moreover, being one of the most preferred treatments for chronic skin conditions, such as actinic keratosis, is also bolstering the utilization of this therapeutic surgery worldwide. Further, testifying this, the National Institute of Health (NIH) reported that the U.S. alone accounted for an annual 5.2 million cryosurgical procedures for such dermatological issues. Moreover, the amplifying public investments in various clinical settings are securing a lucrative flow of capital in this sector.
The increase in the overall cost of production and operation presents a notable pricing pressure in the market. The volatilities in the supply chain of components, indifferent tariff duties, trade policies, and currency fluctuations in individual landscapes add up to this financial exhaustion, which may foster limitations in wide adoption. For instance, from 2023 to 2024, the producer price index (PPI) for medical equipment manufacturing jumped up by 4.4% year-over-year (YoY) in the U.S. due to the heightening price of associated components, including medical-grade stainless steel and cryogenic gases. Simultaneously, the consumer price index (CPI) witnessed an annual rise of 4.0% for surgical services. Thus, the current focus of global leaders is concentrated on developing more cost-efficient solutions.
Cryosurgical Equipment Sector: Growth Drivers and Challenges
Growth Drivers
- The steady cash inflow from various organizations: Considering the magnifying severity and mortality of associated ailments and comorbidities, both public and private payors are heavily investing in the market. For instance, in 2023, the expenditure on cryosurgical devices by the U.S. Medicare crossed USD 850.3 million, attributable to the coverage expansion for prostate and dermatological cryoablation. This is also the result of being a crucial part of the first-line treatment in every dedicated clinical setting as an interventional method with fewer incisions. In addition, it is considered to have lower co-pays than traditional surgeries, with an average of USD 1,500.5 for each procedure for all individuals.
- High-tech integrations in the existing pipeline: Advancements in technology used in the commodities available in the cryosurgical equipment market are revolutionizing their efficiency in improving patient outcomes. Particularly, the incorporation of AI-guided probes has escalated precision and the field of applications, influencing consumers to deploy such cutting-edge clinical solutions. For instance, the CryoFlex system, developed by Medtronic, demonstrated a remarkable reduction in procedural time for cardiac ablation, propelling adoption growth by 30.1%. This is also inspiring associated MedTech pioneers to develop more effective and scalable tools, extending the product portfolio of this sector.
Historical Patient Growth and Its Impact on Cryosurgical Equipment Market Expansion
The significant expansion of the worldwide patient pool during the past decade, from 2010 to 2020, has garnered a considerable consumer base for the market. Additionally, the efforts to spread awareness about the benefits of early detection and intervention in both mature and emerging economies have spurred the acceptance of these instruments within oncology and dermatology disciplines. For instance, China and India presented a fast and albeit belated adoption in this sector due to the ongoing infrastructural development and frequent cancer occurrences. Moreover, the selected transformative phase of this demography cemented cryosurgery's place as a mainstream treatment modality.
Historical Patient Growth (2010-2020) in Key Markets
|
Country |
2010 Patients (Million) |
2020 Patients (Million) |
CAGR (2010-2020) |
Primary Driver |
|
U.S. |
1.1 |
2.2 |
8.8% |
Medicare reimbursement for prostate cryoablation |
|
Germany |
0.7 |
1.3 |
9.9% |
EU-wide dermatology treatment guidelines |
|
France |
0.6 |
1.0 |
10.0% |
HPV-related cryotherapy subsidies |
|
Spain |
0.3 |
0.8 |
11.7% |
Outpatient clinic expansion |
|
Australia |
0.4 |
0.6 |
11.3% |
Skin cancer screening programs |
|
Japan |
0.5 |
0.9 |
9.6% |
Geriatric tumor ablation demand |
|
India |
0.1 |
0.7 |
18.1% |
Private hospital investments |
|
China |
0.5 |
1.4 |
18.5% |
Government oncology infrastructure push |
Feasible Expansion Models Shaping the Cryosurgical Equipment Market
The commercial success of the market highly depends on the understanding of consumer requirements, current trends, and possible roadblocks. Indifferent strategies from individual key players in this sector set a range of options, filled with lucrative business models. For instance, the timeline between 2022 and 2024, demonstrated a 12.2% revenue boost in India on account of strategic alliance formation among global manufacturers and local hospitals to eliminate additional outsourcing expenses. Similarly, in 2024, the tender-based bulk procurement model benefited this merchandise in Germany with USD 337.8 million higher revenue generation. Furthermore, the success of cost-optimization and AI integration in production is also evidence of variable trading opportunities in this field.
Revenue Feasibility Models (2024-2030)
|
Strategy |
Region |
Revenue Impact |
Key Driver |
|
Local Manufacturing |
India |
+12.2% (2022-2024) |
Reduced import tariffs |
|
Government Tenders |
Germany |
USD 337.8 million (2024) |
EU MedTech 2025 funding |
|
Medicare Reimbursement |
USA |
+9.5% (2023) |
Expanded CPT codes |
|
AI-Cryo Integration |
Japan |
+USD 80.2 million (2025) |
Robotic ablation demand |
|
Outpatient Clinics |
Australia |
+15.4% (2023-2025) |
Skin cancer screening |
Challenge
- Lack of competency in worldwide marketplaces: A majority of healthcare settings in underserved regions are still dependent on inadequate infrastructure which is unable to support advanced tools from the cryosurgical equipment market. Testifying this, the Pan American Health Organization (PAHO) reported that more than 60.2% of the public hospitals in Brazil were lacking cryo-units due to budget constraints. Similarly, in South Africa, there are only 3 operating cryo-centers for over 60.3 million residents, causing around 18-month delays in getting treatment. In addition, the heightened competition with non-invasive and more affordable alternatives, such as radiofrequency ablation (RFA) and laser therapy, is restricting the global penetration of this sector.
Cryosurgical Equipment Market: Key Insights
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
8.6% |
|
Base Year Market Size (2024) |
USD 2.1 billion |
|
Forecast Year Market Size (2037) |
USD 5 billion |
|
Regional Scope |
|
Cryosurgical Equipment Segmentation
Product Type (Cryoablation Probes, Cryospray Systems, Cryosurgical Consoles, Accessories)
In terms of product type, the cryoablation probes segment is expected to dominate the cryosurgical equipment market with a share of 32.4% by 2037. Its contribution to delivering patients comfort and faster recovery times during oncology interventions, while preserving healthy tissues, amplified investments in this sector. Thus, the growing population of cancer-afflicted individuals all around the globe is also a driving factor in this segment. Moreover, the expansion in reimbursement coverage and dedicated healthcare policies are securing a steady demand for this subtype. Further, recent innovations, including disposable probes, are helping medical service providers align with sustainability criteria, consolidating their leadership.
Application (Oncology, Dermatology, Cardiology, Gynecology, Pain Management)
Based on application, the oncology segment is poised to garner a maximum revenue share of 28.2% in the market throughout the assessed timeframe. Several clinical studies have established the efficacy of associated products in improving outcomes and affordability in cancer care. In this regard, the Agency for Healthcare Research and Quality (AHRQ) published a study in 2022, demonstrating 40.5% cost savings in the use of cryoablation, in comparison to the conventional treatment methods. Additionally, a report from the NIH also confirmed its effectiveness in offering a 95.1% efficacy in treating early-stage tumors. Such pieces of evidence conclude a high preference for products available in this field from both residents and oncology surgeons.
Our in-depth analysis of the global cryosurgical equipment market includes the following segments:
|
Product Type |
|
|
Application |
|
|
End user |
|
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Customize this ReportCryosurgical Equipment Industry - Regional Synopsis
North America Market Analysis
North America is predicted to capture the largest share of 40.2% in the global market over the analyzed period. The region's proprietorship is primarily pledged to the enlarging patient population and continuous provincial healthcare investments. In this regard, the NIH revealed that over 45.3% of the global demand for cryosurgery originated from North America, where more than 1.6 million prostate cancer procedures are performed annually. On the other hand, financial support from the Federal government and reimbursement policies are also contributing to the increased adoption in this sector. For instance, in 2023, around 8.1% of the total healthcare budget of Canada, accounting for USD 3.3 billion, was dedicated to this category.
The U.S. is augmenting the cryosurgical equipment market with its exceptional advances and capital inflow in healthcare infrastructure. These growth factors are highly stimulated by the continuous expansion of Medicare & Medicaid coverage for associated surgical interventions. For instance, till 2023, the U.S. Medicare spending on prostate and skin cancer ablation surpassed USD 980.4 million. Similarly, Medicaid allocated approximately USD 1.3 billion as reimbursement for 10 million low-income afflicted citizens in 2024. Furthermore, the favorable FDA-issued 2023 guidelines, mandating stricter infection control, are pushing both domestic and foreign pioneers to invent more sustainable and reliable options for the patient pool of this country.
APAC Market Statistics
The Asia Pacific cryosurgical equipment market is anticipated to grow with the fastest CAGR over the discussed timeline. The rising cases of cancer mortality and infrastructural development across emerging economies, including China, India, Japan, and South Korea, are fueling the region's remarkable pace of propagation in this field. Particularly, the predominant presence of the rapidly aging population as a leading underlying comorbidity is emphasizing the patient demography of APAC. Thus, to control and combat this widespread, governing authorities are notably investing in this sector. For instance, in 2024, the government of Japan allocated USD 12.2 billion for geriatric tumor cryoablation, as per the Ministry of Health, Labour and Welfare.
India is emerging in the market with an enlarging consumer base and greater revenue opportunities. The growing awareness about the available options for cancer and chronic skin illnesses is pushing the government to accommodate adequate infrastructure and resources for patients. Moreover, their efforts to make advanced treatments more publicly accessible are fostering a lucrative trading environment for global MedTech leaders. Testifying this, in 2023, the Ministry of Health and Family Welfare observed an 18.3% increase in fund allocation for cancer care in India from 2015, totaling up to USD 2.0 billion. On the other hand, the shortage of cryo-unit supplies in rural areas, where over 60.3% of clinics in these locations still lack installing such equipment, is also fueling the country's progress.
Companies Dominating the Cryosurgical Equipment Landscape
-
The current cryosurgical equipment market is highly dominated by established MedTech pioneers, who are focused on innovation and strategic commercialization. For instance, to date, the collective share of Medtronic, Boston Scientific, and CooperSurgical is more than 52.1%, where Boston Scientific captivated emerging landscapes, such as India, through hospital partnerships. Similarly, the innovative pathways are inspiring more tech and research-based companies to invest and participate in this sector. For instance, ERBE consolidated its position in Europe with the launch of its cryo-RF systems, combining cryotherapy with radiofrequency technology to offer high precision, minimal collateral damage, and better outcomes.
Top 20 of such innovators include:
Company Name
Country
Market Share
Industry Focus
Medtronic
U.S.
22.3%
Leader in cryoablation systems (CryoFlex, Cardiac Cryo)
Boston Scientific
U.S.
18.5%
Oncology & urology cryoablation probes
CooperSurgical (CooperCompanies)
U.S.
12.1%
Gynecology & dermatology cryotherapy
ERBE Elektromedizin
Germany
9.4%
Hybrid cryo-RF systems for precision surgery
Brymill Cryogenic Systems
U.S.
7.3%
Portable cryo units for dermatology
Galil Medical (BTG)
Israel
xx%
Focus on tumor ablation (Visica 2)
Metrum Cryoflex
Poland
xx%
Cryosurgery for pain management
Misonix (now part of Bioventus)
U.S.
xx%
Bone & soft tissue cryoablation
CryoConcepts
U.S.
xx%
ENT & ophthalmology cryotherapy
Impact Cryotherapy
U.S.
xx%
Whole-body cryotherapy chambers
Cortex Technology
Denmark
xx%
Dental cryosurgery devices
CryoIQ
Netherlands
xx%
AI-guided cryoablation software
H&O Healthcare
South Korea
xx%
Compact cryo devices for ASCs
Wallach Surgical Devices
U.S.
xx%
Cryo guns for dermatology
CryoPro
Australia
xx%
Veterinary & human cryosurgery
Cryo Innovations
India
xx%
Low-cost cryo probes for emerging markets
CryoDerm
Malaysia
xx%
Cryospray systems for wound care
CryoTherapeutics
Japan
xx%
Cryoablation for cardiac arrhythmia
CryoLife
U.S.
xx%
Bio-preservation & cryosurgical tools
IceCure Medical
Israel
xx%
Focus on breast cancer cryoablation
Recent Developments
- In May 2024, Boston Scientific launched its upgraded cryo-balloon system, PolarX 4.0, for atrial fibrillation with real-time lesion tracking. This innovation drove an 8.1% revenue boost in the company’s EP division in the 2nd quarter of the same year and demonstrated 20.2% fewer complications in Europe.
- In March 2024, Medtronic introduced a next-generation cryoablation probe, CryoFlex Pro, featuring AI-powered temperature control for cardiac arrhythmia treatments. Further, the product captured around 15.1% of the U.S. cardiac cryoablation market within just 3 months of receiving FDA 510(k) clearance.
Author Credits: Radhika Pawar
- Report ID: 676
- Published Date: Dec 23, 2024
- Report Format: PDF, PPT
