Global Cryotherapy Industry: Opportunities in 2021
The global cryotherapy market size is set to achieve 6.72 billion 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 2020-2026 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.
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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.
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The key players in Cryotherapy market include CryoConcepts LP, Medtronic plc, Brymill Cryogenci Systems, Cortex Technoologies, Cooper Surgical, Inc., and Zimmer Medizin Systems.
Polaris Market Research has segmented the global cryotherapy market on the basis of product type, application, therapy, end-user and region:
Cryotherapy Product Type Outlook (Revenue USD Million 2015-2026)
- Cryogun
- Cryoprobes
- Gas Cylinders
- Gas Pressure Gauges
- Thermocouple Devices
Cryotherapy Application Outlook (Revenue USD Million 2025-2026)
- Oncology
- Cardiology
- Dermatology
- Pain Management
- Gynecology
Cryotherapy Therapy Type Outlook (Revenue USD Million 2015-2026)
- Cryosurgery
- Icepack therapy
- Cryo chamber therapy
Cryotherapy Regional Outlook (Revenue USD Million 2015-2026)
- North America (U.S., Canada)
- Europe (Germany, UK, France, Italy, Spain)
- Asia-Pacific (China, Japan, India)
- Latin America (Brazil, Mexico)
- Middle East and Africa
