$30 Million Cryoablation Market Expected to Take off at the Expense of Radiofrequency Over the Next Five Years
TORONTO, Nov. 16, 2010 /PRNewswire/ — According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the use of cryoablation as a treatment for cancers of the lung and kidney will take off at the expense of radiofrequency ablation in the US over the next five years.
The US cryoablation device market, consisting of disposable cryoablation devices used in the treatment of kidney, liver, and lung cancer, was valued at approximately $30 million in 2010. Based on key opinion leader interviews conducted by MRG, market shift from radiofrequency ablation to cryoablation is due to physician preference for a technique that provides fewer complications. Cryoablation procedural growth will increase robustly over the next five years largely due to increased physician adoption of the technology for kidney and lung cancers due to advocacy by experienced physicians who have observed similar efficacy and better safety profiles relative to radiofrequency ablation in their own practices.
“The continued use of cryoablation among physicians as a viable alternative to surgical intervention, and radiofrequency ablation will encourage adoption of the procedure, further contributing to growth in cryoablation procedure volumes in the US,” says Prabjot Bal, Analyst at MRG. “Cryoablation procedures will also expand the potential patient pool for tumor ablation due to their ability to treat patients who are ineligible for surgery as a result of existing comorbidities.”
MRG’s US Markets for Nonvascular Interventional Radiology Devices 2011 report includes analysis on the US. This report provides critical insight into trends that will fuel market growth for radiofrequency ablation, cryoablation, percutaneous drainage catheters, and soft-tissue needle biopsy devices through 2015.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack(TM) projects, customer behavior tracking, facility-level procedure forecasting, and customized solutions.
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SOURCE Millennium Research Group