Global Cryotherapy and Cryosurgery Market - Overview
Cryotherapy and Cryosurgery Market Share was valued at USD 0.35 billion in 2022. The
cryotherapy and cryosurgery market industry is projected to grow from USD
0.37415 Billion in 2023 to USD 0.63 billion by 2032, exhibiting a compound
annual growth rate (CAGR) of 6.9% during the forecast period (2023 -
2032).
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.
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.
The cryotherapy and cryosurgery market is segmented
by type, application, end user, and region. By type, the market is divided into
ice pack therapy, instant ice pack therapy, whole body cryotherapy, partial
body cryotherapy, and internal cryotherapy. By application, the market is
categorized into dermatology, oncology, pain management, cardiology,
ophthalmology, gynecology, urology, and others.
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 – 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.
Market
Players
The Cryotherapy
and cryosurgery market research 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 – 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.
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