ID: MRFR/MED/2013-HCR | August 2022 | Region: Global | 82 Pages
$419 million
6.9%
North America
2020-2027
Cryotherapy and Cryosurgery Market Overview
Cryotherapy and cryosurgery market reached USD 2.65 billion in 2015. The market will acquire USD 4.29 billion by 2023 and a CAGR of 6.9 % in the forecast period by 2027.
Cryotherapy and cryosurgery are medical processes carried through low temperatures. The treatment uses extremely cold temperatures. It is used to destroy or remove disease tissues. It is used for curing cancer and removing skin tags like warts, moles, etc. It is also known for treating heart diseases, injuries, skin problems, improving immunity, blood pressure, etc. Due to these, the Cryotherapy and cryosurgery market notices a huge growth rate.
Cryotherapy also treats sports-related injuries. The rise in innovation and technological advancement is letting the market grow higher. The higher rate of awareness and consciousness of skin-related diseases are also enhancing the growth of the market. The demand for cancer treatments is bringing up huge opportunities for the market.
Cryotherapy is now a treatment option due to the technological innovations in cryotherapy equipment over the years. Developments in various equipment, including cryosurgery and accessories, will let the market enhance. Cryochambers and cryo saunas used in treating rheumatoid arthritis, inflammation, and pain management are letting the market grow higher. Moreover, cryosurgical equipment is noticing significant developments like the usage of supercooled liquid nitrogen the introduction of efficient probes in several sizes, and improved cryoablation needles will help the market prove its worth in the forecast period.
Study Objectives of Cryotherapy Market:
Cryotherapy and Cryosurgery Market, by Type, 2015 (%):
Intended Audience:
Segments:
Cryotherapy and cryosurgery market has been segmented on the basis of type which comprise Ice pack therapy, instant ice pack therapy, whole body cryotherapy, partial body cryotherapy, internal cryotherapy and others. On the basis of devices type it is segmented into cryogun, cryo chambers, gas cylinders, cryo probes, cryosaunas thermocouple devices and others. On the basis of application it is segmented into dermatology, oncology, pain management, trigeminal neuralgia, cardiology and others.
Recent Development
In April 2022
Thermo Fisher Scientific, a Scientific service provider, has deployed its cryo-transmission electron microscope at the Centre for Cellular and Molecular Biology at Hyderabad in Telangana. Dr. Shekhar Mande, the director-general of the Council of Scientific and Industrial Research has inaugurated the research center facility.
According to the company, advanced cryo-electron microscopes support advanced cellular and molecular biology research. This will enable scientists for potential cures, diagnostics research, and drug discoveries.
Key Players for Cryotherapy and cryosurgery Market:
Regional Analysis of Cryotherapy Market:
Considering the global scenario of the market, North America region is believed to be the largest market for cryotherapy and cryosurgery. Moreover the European market is also growing and is the second largest market for Cryotherapy and cryosurgery. On the other hand, Asia-Pacific market for the same is expected to grow at significant rate during the forecasted period. Rest of the world is likely to have a limited but steady growth in the market. The report of Cryotherapy and Cryosurgery Market by Market Research Future comprises of extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of current market scenario which includes past and estimated future market size in terms of value & volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies used by top key players in the industry. The report also gives a broad study of the different markets segments and regions.
Report Attribute/Metric | Details |
---|---|
Market Size | USD 4.29 billion |
CAGR | 6.9% :2017-2023 |
Base Year | 2019 |
Forecast Period | 2027 |
Historical Data | 2018 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type, Device Type, Application |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | 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 |
Key Market Opportunities | New product developments |
Key Market Drivers |
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Frequently Asked Questions (FAQ) :
Global Cryotherapy and Cryosurgery Market is projected to grow at a 6.9% CAGR between 2017-2023.
North America is predicted to dominate the Cryotherapy and Cryosurgery Market.
Global Cryotherapy and Cryosurgery Market is predicted to touch USD 4.29 billion by 2023.
It finds extensive applications in cardiology, trigeminal neuralgia, pain management, oncology, and dermatology.
High cost and side effects may limit market growth.