Global Cryotherapy Market:
The global cryotherapy market estimated to be valued US$ XX. Mn in 2019 and poised to grow at significant CAGR over 2020-2026 owing to rising prevalence of cancer and increasing incidence of skin disorders and is also an alternative to minimally invasive surgical treatments and radiation treatment for the prostate cancer treatment are expected to drive the growth of the market. Moreover, growing popularity in the beauty, wellness and fitness industries and advancements in technology and favorable reimbursement policies fuels the growth of the market. However, hazardous effects of cryogenic gases and lack of evidence to support the claims of whole body cryotherapy are expected to hamper the growth of the market.
Rising Applications for Cryosurgery in Cancer Treatment
In 2018, the cancer burden across the globe is estimated to have risen to 18.1 Mn new cases and 9.6 Mn deaths. Almost 1 in 5 men and one in 6 women develop cancer worldwide during their lifetime. Cryosurgery is a proven minimally invasive alternative to surgical treatments and radiation treatment for the prostate cancer treatment. The increasing application of cryosurgery in oncology and advancements in technology for cryotherapy equipment and growing preference towards minimally invasive techniques enhances the growth of the market over the forecast years.
North America Accounts for Larger Market Revenue Share in Global Cryotherapy Market
North America accounted for larger revenue share in global cryotherapy market with significant CAGR owing to rising adoption of whole body cryotherapy and for cancers and other skin disorders and presence of good number of skilled professionals. Moreover, Cryotherapy is also an advantageous for the patients who cannot be operated and are non-responsive to the treatment. In addition, launch of new products and growing number of surgical procedures carried out in the region enhances the growth of the market. Asia Pacific is expected to grow at highest CAGR over the forecast due to increase in incidence rate of cancer and adoption of minimally invasive surgeries coupled with medical tourism in the region fuels the growth of the market.
Key player’s profiles in the global cryotherapy market include:
- CryoConcepts LP
- Impact Cryotherapy
- Zimmer MedizinSystems
- Metrum Cryoflex
- Brymill Cryogenic Systems
- <span”>Cooper Surgical
- <span”>Galil Medical, Inc.
- <span”>Erbe Elektromedizin GmbH
- <span”>Wallach Surgical Devices
Global cryotherapy market is surging owing to increased approvals and strategic collaborations among the market players to strengthen their position different regions of the globe. For instance, in June 2017, Channel Medsystems received CE Mark Approval for the Cerene Cryotherapy Device for endometrial ablation procedures.
Key Findings of the Report:
- Global cryotherapy market expanding at significant CAGR over 2020 to 2026 owing to rising adoption of cryotherapy in wellness and fitness industries.
- Based on application area, oncology segment cryotherapy accounted for larger market revenue share in 2019 and projected to gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global cryotherapy market
Global Cryotherapy Market Report Description:
Global cryotherapy market report gives comprehensive outlook on cryotherapy 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 cryotherapy market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, application, end user, and region. This report studies global cryotherapy market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global cryotherapy market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global cryotherapy market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global cryotherapy market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global cryotherapy products.
By Product Type
- Cryosurgery Devices
- Tissue Contact Probes
- Tissue Spray Probes
- Epidermal and Subcutaneous Cryoablation Devices
- Localized Cryotherapy Devices
- Cryochambers & Cryosaunas
By Application Area
- Surgical Applications
- Other Surgical Applications
- Pain Management
- Recovery, Health, and Beauty
By End User
- Hospitals & Specialty Clinics
- Cryotherapy Centers
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market