Global Cryotherapy and Cryosurgery Market - Overview
Cryotherapy, this medical practice has been used since ages. Cryotherapy and cryosurgery both these medical processes are carried on using low temperature. Cryotherapy treatment uses extreme cold temperature. Cryosurgery is a part of cryotherapy that used to destroy or remove disease tissues. It is used to cure some types of cancer and to remove skin tags warts, moles etc. Cryotherapy is very useful in treating skin problems, heart diseases, injuries, improving immunity, increasing blood pressure etc. Cryotherapy is also widely used for treating sport related injuries. Continuous innovation and technological advancement are leading the growth of cryotherapy and cryosurgery market. Increasing awareness and consciousness about skin and related diseases are also driving the growth of this market along with increasing number of cancer treatments. Cryotherapy and cryosurgery market is growing moderately.
According to a recent study report published by the Market Research Future, Cryotherapy and cryosurgery market reached USD 0.37415 billion in 2023. The market will acquire USD 0.5583 billion by 2030 and a CAGR of 6.90 % in the forecast period by 2030.
Growing numbers of cancer patients and increasing heart diseases are driving the growth for the cryotherapy and cryosurgery treatments. Cryotherapy is widely used in sports industry worldwide to cure injuries and pain management. Medical devices manufacturers are investing money in R&D to develop innovative products for the market. Increasing healthcare facilities and technological advancement are driving the growth for the market of cryotherapy and cryosurgery. However, some factors are prohibiting the growth for the market such as side effects of the treatment, impact cryotherapy cost is high of surgery, high price of medical devices etc.
Cryotherapy & Cryosurgery Market – Geographical Analysis
Globally, North America region is expected to lead the Cryotherapy and Cryosurgery market accounting for a significant market share Factors substantiating the market growth of this region include growing demand for the minimally invasive procedures, supported by the growing number of patients suffering from the chronic diseases such as Cancer.
Whereas the world’s second-largest market for Cryotherapy and Cryosurgery - Europe is expected to demonstrate a healthy growth during the review period. Factors such as the well-proliferated healthcare sector, witnessing the growing number of advanced treatment facilities fuelled by the growing demand for better healthcare infrastructure and increasing healthcare expenditures are driving the growth in the Europe market.
The Asia-Pacific market is emerging as a lucrative market for Cryotherapy and Cryosurgery owing to the rising number of patients suffering from Cancer along with the other chronic diseases and the growing population that is increasingly adopting the sedentary lifestyle. Increasing funding support from the private and public bodies are paying off well, increasing R&D activities, and eventually are supporting the market growth in the region.
Market Players
The Cryotherapy and cryosurgery market Players are Impact Cryotherapy (US), Galil Medical Inc. (US), HealthTronics, Inc. (US), KryoLife Inc (US), Medtronic (Republic of Ireland), GRAND Cryo LLC (Russia), Erbe USA, Incorporated, Wallach Surgical Devices (US), MedGyn Products, Inc. (US).
Cryotherapy & Cryosurgery Market – Segmentations
The report - The Cryotherapy and Cryosurgery market outlook is segmented into four key dynamics, for the convenience of the report and enhanced understanding: -
By Types : Comprises Instant Ice Pack Therapy, Ice Pack Therapy, Whole Body Cryotherapy, Internal Cryotherapy and Partial Body Cryotherapy, among others.
By Device Types : Cryo Chambers, Cryogun, Gas Cylinders, Cryosaunas, Cryo Probes, and Thermocouple Devices, among others.
By Applications : Oncology, Dermatology, Pain Management, Cardiology and Trigeminal Neuralgia, among others.
By Regions : North America, Europe, APAC and Rest-of-the-World (RoW).
The Ice Pack Therapy segment by Types is estimated to account for 28% of the market share, while The Instant Ice Pack Therapy segment will garner 23% of the market share.
The Whole-Body Cryotherapy segment will evaluate for 16% of the market share.
The Partial Body Cryotherapy segment will pull around 21% market share, whereas the Internal Cryotherapy segment will account for 12% of the Market Share.
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