Cryotherapy Market Research Reports, Analysis, Trends and Forecast

Overview

Global Cryotherapy Market Introduction

The global cryotherapy market estimated to value over USD 4.5 billion by 2026 end and register CAGR of over 9% from the forecast period 2019-2026.
The factors burgeoning the cryotherapy market are widespread of skin, prostate, cervical cancer and retinoblastoma and growing demand for minimally invasive procedures. The minimally invasive procedures offer multiple benefits such as shorter hospital stay, fewer scars, and pain. According to the National Cancer Institute in the US, in 2018, 1,735,350 new cases of cancer were diagnosed in the United States and 609,640 people died from the disease. The rise in the number of cancer cases is expected to fuel the market growth over the coming years. Increasing adoption of cryotherapy in diagnosing various musculoskeletal conditions such as arthritis, fibromyalgia and rheumatic and growing usage for beauty treatments is estimated to bolster the market.

Global Cryotherapy Market Overview
The market is bifurcated into therapy type, device type, application, and region. In terms of therapy type, cryosurgery is expected to hold a vast share of the market. Cryosurgery eliminates abnormal cells and protects healthy tissues. When compared to other therapy devices, cryosurgery offers faster recovery and limited side effects. In addition, it can also be deployed as an add on for other therapies such as hormone therapy, chemotherapy, and radiation.
In terms of application, oncology holds a vast share of the market. Rising cases of cancer worldwide coupled with an increasing awareness of alternative cryotherapy-based treatment are escalating the market. The new numbers released by WHO hints that the case of cancer is anticipated to increase by 70 % over the coming two decades. These figures are expected to propel the market.

On the basis of device type, cryogun is expected to dictate the growth of the market. Latest innovation and product up-gradation are fueling the growth of cryogun hence expanding the market. TrackerCam is an advanced product of cryogun which comes in with a built-in camera and helps physicians view the lesion area with enhanced clarity.
Based on regions, North America dictates the growth of the market owing to the presence of developed healthcare infrastructure, availability, and deployment of latest & advanced technology and the presence of skilled professionals. High per capita healthcare expenditure is also expected to complement the growth of the market in the region.

Asia-Pacific represents a lucrative region for manufacturers owing to high untapped opportunities in emerging economies like India and China. The lower cost of procedures, increasing the accessibility of advanced products and less adverse effects is boosting the presence of the market in the region. Government and private enterprises focusing on providing developed healthcare infrastructure are also bolstering the market. Rising cases of cancer and economical rates of the procedure have resulted in the expansion of the market in the region.
Prominent players of the market are Medtronic, Cortex technology, Brymill Cryogenic Systems, CryoConcepts LP, Wallach Surgical Devices, Sanarus, CooperSurgical Inc, Zimmer MedizinSystems, Special Medical Technology, Physiomed Elektromedizin AG, Sanarus and Galil Medical.

Competitive Landscape:
● Prominent players in a bid to expand the market are aiming at advanced product development
● Galil Medical launched its advanced cryoablation product IcePearl 2.1 Cryoablation Needle

Global Cryotherapy Market Segmentation
By Therapy Type
● Cryosurgery
● Chamber therapy
● Ice pack therapy
By Device Type
● Cryogun
● Cryo probes
● Gas cylinders
● Others
By Application
● Oncology
● Cardiology
● Dermatology
● Pain management
● Others

By Region
● North America
● Europe
● Asia Pacific
● Latin America
● Rest of the World

FutureWise Key Takeaways:
● Growth Prospects
● SWOT Analysis
● Key Trends
● Key data-points affecting market growth

Objectives of the Study:
• To provide with an exhaustive analysis on the global cryotherapy market by therapy type, by device type, by application, and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• Evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and the rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financial and core competencies