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Cryotherapy Devices Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017 to 2021 and Forecast 2022 to 2028

Cryotherapy Devices Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017 to 2021 and Forecast 2022 to 2028

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Cryotherapy Devices Market By Therapy Type (Cryogun, Cryoprobes, Gas cylinders, Others), Component (Cryogun, Cryo Probes, Gas Cylinders, Localized Cryotherapy Devices, Cryochambers & Cryosaunas, Others) By Application (Oncology, Cardiology, Dermatology, Pain management, Others), By End User (Hospitals, Ambulatory Surgical Centers, Others) and Geography

 

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Report

Description

Cryotherapy Devices Market size was valued at USD 269.0 million in 2021 and is expected to reach USD 491.8 million by 2028, at a CAGR of 9.0% during the forecast period 2022 to 2028. Cryotherapy is also called as cryosurgery. Cryotherapy is use of freezing agents such as carbon dioxide, liquid nitrogen, freon to freeze and treat the lesions such as tans (skin), moles and prostate cancer. In cryotherapy, a probe is inserted into the tissue next to the affected nerve. The temperature of the probe decreases to very cold temperatures and effectively freezes the nerve. The freezing inactivates the nerve, as a result, painful nerve irritation is relieved. Cryotherapy is a relatively safe and effective means of treating localized nerve irritation. Cryotherapy devises market expected to have lucrative growth rate during forecast period owing to increase in demand for treatment options for various types of cancer. As per World Health Organisation (WHO), cancer mortality in the developing countries is expected to reach 6.7 Mn by 2015. Similarly, American Cancer Socity estimates that about 12,280 new invasive cervical cancer will be diagnosed in 2017. This suggests that there is huge demand exists for cancer therapy options across the globe. Market players are focusing on advanced product designing and development to strengthen their product to enhance their sales revenue in cryotherapy devices market.

Key Developments:

In October 2015, Galil Medical launched two cryoablation (killing of cancer cells with extreme cold) products, IcePearl 2.1 CX and IceFORCE 2.1 CX Cryoablation Needles.

In June 2019, Channel Medsystems received CE Mark for its Cerene Cryotherapy Device (Cerene device) to market in Europe

In June 2019, BTG Plc acquired Galil Medical, a leading provider of cryotherapy products, to expand its product portfolio and R&D

Cryotherapy Devices Market

MARKET SUMMARY
-
9.0%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 9.0%
  • Largest Market– Asia-Pacific
  • Fastest Growing Market– North-America

Cryotherapy Devices Market

  • The global cryotherapy devices market report gives comprehensive outlook across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The report on global market gives historical, current, and future market sizes (US$ Mn) on the basis of by type of device, application, end user  and region.
Key Players
  • Cynosure,
  • MICHELSON DIAGNOSTIC
  • Cryonic Medical
  • ZAMAR CARE
  • Zimmer Medizin Systeme GmbH
  • MECOTEC GmbH
Cryotherapy Devices Market Dynamics

Globally cryotherapy devices market is mainly driven by growing use of cryotherapy in treating various types of cancer and musculoskeletal conditions, such as arthritis, rheumatic conditions and fibromyalgia. In addition, increase in application of cryotherapy devices in dermatology for beauty treatments is expected to boost the cryotherapy devices market. Furthermore, cryotherapy carries limited side effects and thus facilitates faster recovery compared to conventional procedures. However, some common side effects include erythema, pain and hypopigmentation and lower effectiveness of the treatment are the major factors expected to hinder the cryotherapy devices market growth.

North-America Got Significant Share

Cryotherapy Devices Market

Geographically cryotherapy devices market segmented into following regions viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America and Europe are expected to show notable growth owing to well-developed healthcare sector with latest technologies. In addition, trained healthcare professionals, and favourable reimbursement policies are also contributing to the growth of cryotherapy devices market in these regions. Asia-Pacific is expected to show fastest growth rate due to untapped opportunities, high patient cognizance of cryosurgery in cancer and skin treatments coupled with the rapidly developing healthcare infrastructure in the emerging Asia-Pacific countries. In addition fewer adverse effects, reduced cost of the procedures, and increase in accessibility of the cryotherapy treatment in Asia-Pacific region is expected to contribute toward the growth of the sector.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East
Key

Features of the Report

Key

Features of the Report

Cryotherapy Devices Market Segmentation

segmentation-block-image

Device Type

    • Cryogun
    • Cryoprobes
    • Gas cylinders
    • Others
segmentation-block-image

By Application

    • Oncology
    • Cardiology
    • Dermatology
    • Pain management
    • Others
segmentation-block-image

By End User

    • Hospitals
    • Ambulatory Surgical Centers
    • Others
Location

GEOGRAPHY

Frequently Asked Questions

The cryotherapy devices market is projected to expand at a CAGR of 9.0% during the forecast period.

Cynosure, MICHELSON DIAGNOSTIC, Cryonic Medical, ZAMAR CARE, Zimmer Medizin Systeme GmbH, MECOTEC GmbH

North America is the fastest growing region for cryotherapy devices market

Report

Table Of Content

1. Executive Summary
2. Global Cryotherapy Devices Market Introduction
2.1. Global Cryotherapy Devices Market – Taxonomy
2.2. Global Cryotherapy Devices Market –Definitions
2.2.1. By Therapy Type
2.2.2. By Component
2.2.3. By Application
2.2.4. By End User
2.2.5. By Region
3. Global Cryotherapy Devices Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Cryotherapy Devices Market Dynamic Factors – Impact Analysis
3.6. Global Cryotherapy Devices Market – Competition Landscape
4. Global Cryotherapy Devices Market Analysis, 2017-2021 and Forecast, 2022-2028
4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Cryotherapy Devices Market, By Therapy Type, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.1. Cryosurgery
5.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Icepack Therapy
5.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.3. Chamber Therapy
5.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
6. Global Cryotherapy Devices Market, By Component, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.1. Cryogun
6.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Cryo Probes
6.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
6.3. Gas Cylinders
6.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
6.4. Localized Cryotherapy Devices
6.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.4.3. Market Opportunity Analysis
6.5. Cryochambers & Cryosaunas
6.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.5.3. Market Opportunity Analysis
6.6. Others
6.6.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.6.3. Market Opportunity Analysis
7. Global Cryotherapy Devices Market, By Application, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.1. Oncology
7.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Cardiology
7.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Dematology
7.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
7.4. Pain Management
7.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.4.3. Market Opportunity Analysis
7.5. Others
7.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.5.3. Market Opportunity Analysis
8. Global Cryotherapy Devices Market, By End User, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.1. Hospitals & Specialty Clinics
8.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Cryotherapy Centers
8.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Spas & Fitness Centers
8.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Others
8.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
9. Global Cryotherapy Devices Market Forecast, By Region, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.1. North America
9.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.1.3. Market Opportunity Analysis
9.2. Europe
9.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.2.3. Market Opportunity Analysis
9.3. Asia-Pacific
9.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.3.3. Market Opportunity Analysis
9.4. Latin America
9.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.4.3. Market Opportunity Analysis
9.5. Middle East and Africa
9.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.5.3. Market Opportunity Analysis
9.6. Global Cryotherapy Devices Market – Opportunity Analysis Index, By Therapy Type, Component, Application, End User, and Region, 2022-2028
10. North America Cryotherapy Devices Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
10.1. Therapy Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Cryosurgery
10.1.2. Icepack Therapy
10.1.3. Chamber Therapy
10.2. Component Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Cryogun
10.2.2. Cryo Probes
10.2.3. Gas Cylinders
10.2.4. Localized Cryotherapy Devices
10.2.5. Cryochambers & Cryosaunas
10.2.6. Others
10.3. Application Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.3.1. Oncology
10.3.2. Cardiology
10.3.3. Dermatology
10.3.4. Pain management
10.3.5. Others
10.4. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.4.1. Hospitals & Specialty Clinics
10.4.2. Cryotherapy Centers
10.4.3. Spas & Fitness Centers
10.4.4. Others
10.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.5.1. USA
10.5.2. Canada
10.6. North America Cryotherapy Devices Market – Opportunity Analysis Index, By Therapy Type, Component, Application, End User, and Country, 2022-2028
10.7. North America Cryotherapy Devices Market Dynamics – Trends
11. Europe Cryotherapy Devices Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
11.1. Therapy Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Cryosurgery
11.1.2. Icepack Therapy
11.1.3. Chamber Therapy
11.2. Component Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Cryogun
11.2.2. Cryo Probes
11.2.3. Gas Cylinders
11.2.4. Localized Cryotherapy Devices
11.2.5. Cryochambers & Cryosaunas
11.2.6. Others
11.3. Application Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.3.1. Oncology
11.3.2. Cardiology
11.3.3. Dermatology
11.3.4. Pain management
11.3.5. Others
11.4. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.4.1. Hospitals & Specialty Clinics
11.4.2. Cryotherapy Centers
11.4.3. Spas & Fitness Centers
11.4.4. Others
11.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.5.1. Germany
11.5.2. UK
11.5.3. France
11.5.4. Spain
11.5.5. Italy
11.5.6. Russia
11.5.7. Rest of Europe
11.6. Europe Cryotherapy Devices Market – Opportunity Analysis Index, By Therapy Type, Component, Application, End User, and Country, 2022-2028
11.7. Europe Cryotherapy Devices Market Dynamics – Trends
12. Asia-Pacific Cryotherapy Devices Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
12.1. Therapy Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Cryosurgery
12.1.2. Icepack Therapy
12.1.3. Chamber Therapy
12.2. Component Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. Cryogun
12.2.2. Cryo Probes
12.2.3. Gas Cylinders
12.2.4. Localized Cryotherapy Devices
12.2.5. Cryochambers & Cryosaunas
12.2.6. Others
12.3. Application Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.3.1. Oncology
12.3.2. Cardiology
12.3.3. Dermatology
12.3.4. Pain management
12.3.5. Others
12.4. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.4.1. Hospitals & Specialty Clinics
12.4.2. Cryotherapy Centers
12.4.3. Spas & Fitness Centers
12.4.4. Others
12.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.5.1. China
12.5.2. India
12.5.3. Japan
12.5.4. ASEAN
12.5.5. Australia & New Zealand
12.5.6. Rest of Asia-Pacific
12.6. Asia-Pacific Cryotherapy Devices Market – Opportunity Analysis Index, By Therapy Type, Component, Application, End User, and Country, 2022-2028
12.7. Asia-Pacific Cryotherapy Devices Market Dynamics – Trends
13. Latin America Cryotherapy Devices Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
13.1. Therapy Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Cryosurgery
13.1.2. Icepack Therapy
13.1.3. Chamber Therapy
13.2. Component Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.2.1. Cryogun
13.2.2. Cryo Probes
13.2.3. Gas Cylinders
13.2.4. Localized Cryotherapy Devices
13.2.5. Cryochambers & Cryosaunas
13.2.6. Others
13.3. Application Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.3.1. Oncology
13.3.2. Cardiology
13.3.3. Dermatology
13.3.4. Pain management
13.3.5. Others
13.4. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.4.1. Hospitals & Specialty Clinics
13.4.2. Cryotherapy Centers
13.4.3. Spas & Fitness Centers
13.4.4. Others
13.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Rest of Latin America
13.6. Latin America Cryotherapy Devices Market – Opportunity Analysis Index, By Therapy Type, Component, Application, End User, and Country, 2022-2028
13.7. Latin America Cryotherapy Devices Market Dynamics – Trends
14. Middle East and Africa Cryotherapy Devices Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
14.1. Therapy Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.1.1. Cryosurgery
14.1.2. Icepack Therapy
14.1.3. Chamber Therapy
14.2. Component Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.2.1. Cryogun
14.2.2. Cryo Probes
14.2.3. Gas Cylinders
14.2.4. Localized Cryotherapy Devices
14.2.5. Cryochambers & Cryosaunas
14.2.6. Others
14.3. Application Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.3.1. Oncology
14.3.2. Cardiology
14.3.3. Dermatology
14.3.4. Pain management
14.3.5. Others
14.4. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.4.1. Hospitals & Specialty Clinics
14.4.2. Cryotherapy Centers
14.4.3. Spas & Fitness Centers
14.4.4. Others
14.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
14.5.1. Gulf Cooperation Council (GCC) Countries
14.5.2. South Africa
14.5.3. Rest of MEA
14.6. MEA Cryotherapy Devices Market – Opportunity Analysis Index, By Therapy Type, Component, Application, End User, and Country, 2022-2028
14.7. MEA Cryotherapy Devices Market Dynamics – Trends
15. Competition Landscape
15.1. Strategic Dashboard of Top Market Players
15.2. Company Profiles (Introduction, Financial Analysis, Key Offerings, Key Developments, Strategies, and SWOT Analysis)
15.2.1. Zimmer MedizinSysteme GmbH
15.2.2. Vacuactivus
15.2.3. Stryker Corporation
15.2.4. IceCure Medical
15.2.5. Medtronic plc
15.2.6. Galil Medical
15.2.7. Cooper Surgical
15.2.8. Impact Cryotherapy
15.2.9. Erbe Elektromedizin GmbH
15.2.10. CryoConcepts
16. Research Methodology
17. Key Assumptions and Acronyms
Report

Company Profile

  • Zimmer MedizinSysteme GmbH
  • Vacuactivus
  • Stryker Corporation
  • IceCure Medical
  • Medtronic plc
  • Galil Medical
  • Cooper Surgical
  • Impact Cryotherapy
  • Erbe Elektromedizin GmbH
  • CryoConcepts

Description

Cryotherapy Devices Market size was valued at USD 269.0 million in 2021 and is expected to reach USD 491.8 million by 2028, at a CAGR of 9.0% during the forecast period 2022 to 2028. Cryotherapy is also called as cryosurgery. Cryotherapy is use of freezing agents such as carbon dioxide, liquid nitrogen, freon to freeze and treat the lesions such as tans (skin), moles and prostate cancer. In cryotherapy, a probe is inserted into the tissue next to the affected nerve. The temperature of the probe decreases to very cold temperatures and effectively freezes the nerve. The freezing inactivates the nerve, as a result, painful nerve irritation is relieved. Cryotherapy is a relatively safe and effective means of treating localized nerve irritation. Cryotherapy devises market expected to have lucrative growth rate during forecast period owing to increase in demand for treatment options for various types of cancer. As per World Health Organisation (WHO), cancer mortality in the developing countries is expected to reach 6.7 Mn by 2015. Similarly, American Cancer Socity estimates that about 12,280 new invasive cervical cancer will be diagnosed in 2017. This suggests that there is huge demand exists for cancer therapy options across the globe. Market players are focusing on advanced product designing and development to strengthen their product to enhance their sales revenue in cryotherapy devices market.

Key Developments:

In October 2015, Galil Medical launched two cryoablation (killing of cancer cells with extreme cold) products, IcePearl 2.1 CX and IceFORCE 2.1 CX Cryoablation Needles.

In June 2019, Channel Medsystems received CE Mark for its Cerene Cryotherapy Device (Cerene device) to market in Europe

In June 2019, BTG Plc acquired Galil Medical, a leading provider of cryotherapy products, to expand its product portfolio and R&D

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