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.
