Cryotherapy and Cryosurgery Market Overview
Cryotherapy is the local or general use of low temperature in medical treatments, used to treat a wide range of benign and malignant tissue damages, which are medically referred to as lesions. Cryosurgery is a type of surgical treatment that involves the use of extremely cold temperatures to treat abnormal or diseased tissue and is widely used in skin treatments
Factors fuelling the growth of the market are wide use of cryotherapy to treat sports-related injuries, increasing incidences of skin related diseases and cancers, increasing awareness and consciousness skin treatments and cancer treating procedures. However, side effects, strict regulatory framework and high treatment costs are the factors hindering the growth of the market.
Cryotherapy and Cryosurgery Market Forecast Report (2018-2023)
The Global Cryotherapy and Cryosurgery Market was worth USD 3.03 billion in 2018 and estimated to be growing at a CAGR of 6.9%, to reach USD 4.23 billion by 2023. Cryotherapy and Cryosurgery are therapeutics and surgical procedures performed at very low temperatures.
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Cryotherapy and Cryosurgery Market Segmentation
The Global market for Cryotherapy and Cryosurgery is segmented based on Technique, Type, Application and Devices. Based on Technique it is divided into Spray, Forceps, CryoProbe and Others. Based on Type it is divided into Cryosurgery, Icepack Therapy and Cryogenic Chamber Therapy. Based on Application it is divided into Cancer Therapy, Skin Disease and Others. Based on Devices it is divided into Cryogun, Probes, Cryogen and Others.
Based on the geographical analysis, the market is divided into regions of North America, Latin America, Europe, Middle East and Africa and the Asia Pacific. North America holds the major share in the market due to the presence of market leaders as well as a well-developed healthcare infrastructure and extensive use of sprains in sports-related injuries treatment. The Asia Pacific is the fastest growing region due to increasing expenditure on research and development as well as innovations and advancements in medical fields. Based on Application Cancer therapy is the most widely applied field for cryotherapy while skin treatments are expected to grow the fastest due to recent advancements in technologies. Based on Type, the most common type of treatment is cryosurgery as this procedure helps in treating various cancers and skin diseases while icepack therapy is expected to grow the fastest.
The major companies dominating this market for its products and services are
- Impact Cryotherapy,
- Galil Medical Inc.,
- HealthTronics, Inc.,
- KryoLife Inc,
- GRAND Cryo LLC,
- Erbe USA,
- Wallach Surgical Devices,
- MedGyn Products, Inc.
- CoolTouch Inc.
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