New York, NY Dec 12 2019: The
global cryotherapy
market size is set to achieve 6,727.3 million by 2026 at a CAGR
of 9.8% according to a new study published by Polaris Market Research. The
report Cryotherapy Market Size, Share,
Trends, Industry Analysis Report By Device Type (Cryoguns, Cryoprobes, Gas
Cylinders, Cryochambers, Gas Pressure Gauges, Thermocouple devices); By Therapy
Type (Cryosurgery, Icepack Therapy, Chamber Therapy); By Application Type and
By Regions – Segment Forecast 2019-2026 provides an
in-depth analysis of present and future market trends.
Cryotherapy is known in medical science as an
application of low temperature for treating malignant tissues and malignant
tissue damage called lesions. Cryotherapy finds common applications in treating
muscle pain, sprains, swelling, soft tissue damage and postoperative swelling.
Cryotherapy known as cryoablation is a non-invasive
therapy that is useful in pain reduction, abnormal skin treatment and treating
local tumors. Cryosurgery is directing extreme cold to diseased tissues to
destroy them. Then, ice pack therapy is administered to an injured area of
body. It is for no small reason that cryotherapy devices market is considered
the most potent treatment for cancer. Rising incidences of cancer will give
growth to phenomenal strides in market. Cryotherapy, also called cryoablation,
is a non-invasive therapy used for alleviating pain, treating abnormal skin,
and treating localized tumors. It can be administered locally or on whole
body.
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The key factors driving cryotherapy market include
high prevalence of cancer, increasing demand for minimally invasive procedures,
technological prowess in cryotherapy equipment and growing popularity in
fitness, wellness and beauty industries. Uncertainty over traditional methods
still exist because use of argon gas and crypto probes are not definitive
standards and have to seek approval by the regulatory body. Safety and
effectiveness have a long way to go. Hence lack of clinical evidences is
limiting factors to growth of cryotherapy units market.
High-risk cryogenic gases and strict regulatory
approvals for the gases could be defining restraints for the market. On the
other hand, success factors for cryosurgery are that it scores over traditional
surgery, marked by few complications, negligible scars, less pain and shorter
hospitals stay. These factors will bolster market.
The cryotherapy market in North America and Europe is
boosted by increasing demand from athletes and film actors to recover from
injury faster and prevent aging. Companies are constantly on the look-out to
develop innovative products for cryotherapy in order to gain larger user base
in emerging economies such as India, China, and Brazil. North America
stands out over other regions with its market domination.
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Cryosurgery therapy type segment soars over other
types of therapies owing to minimally invasive surgery holding sway.
Cryosurgery helps repair damaged tissues without bringing any harm to healthy
tissues in the body. Negligible side effects and faster recoveries will bring
forth market success during forecast period. A whole-body cryotherapy (WBC) is
useful in improving athletes’ performance and reduces his downtime by helping
him recover early from muscular injuries and pain.
Oncology dominates market segment with 80% market
share. This is due to rising number of patients being targeted by cancer with
increasing mortality rates. Cryotherapy is advantageous, more so as it offers a
turnaround solution to patients who are non-treatable, non-operable and those
who are unresponsive to treatment. Cryotherapy also is used in skin treatment
and for treating eye lesions. The uniqueness of the method lies in applying
liquid nitrogen using a cotton swab or a spraying device.
The key players in Cryotherapy market include CryoConcepts
LP, Medtronic plc, Brymill Cryogenci Systems, Cortex Technoologies, Cooper
Surgical, Inc., and Zimmer Medizin Systems.
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