April 24, 2019
Global cryotherapy market is anticipated to reach USD 5,860.6 million by 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2025.
Key highlights of the global cryotherapy market enumerated in the report are:
The cryotherapy industry is primarily propelled by the factors like escalating pervasiveness of cancer and an array of skin related conditions. Additionally, the rising count of minimally invasive surgical procedures for healing several conditions, and relatively lesser adverse effects of undergoing cryotherapy are predicted to spur the revenue influx in the cryotherapy market over the forecast period.
As per the report, the burgeoning popularity of cryotherapy around the globe, owing to its unparalleled potential to effectively cure the injuries without causing damage to the healthy tissues of the body. In addition, augmented utilization of cryotherapy in dermatological treatments will also support the market expansion in the ensuing years. However, the strict regulatory backdrop and cryogenic gases relative side effects might impede cryotherapy market growth in the time to come.
With respect to the device type, the worldwide market is divided into gas cylinders, cryoprobes, cryo chambers, cryoguns, thermocouple devices, and gas pressure gauges. Speaking of the therapy type, the market is segmented into icepack therapy, chamber therapy, and cryosurgery. In terms of the application spectrum, the market encompasses dermatology, oncology, pain management, gynecology, cardiology, and ophthalmology.
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According to the study, the regional landscape of the market is divided into 5 regions notably Middle East & Africa, Latin America, North America, Asia Pacific, and Europe. Based on regional contribution, North America leads the worldwide cryotherapy market. This lead can be attributed to surging healthcare spending by governments in the region and developed medical infrastructure in nations like Canada and the U.S. In addition to this, the presence of advanced cryotherapy products would further promote market growth in North America over the projected time frame, cites the report.
Depending on the findings of the report it can be anticipated that the Asia Pacific will witness impressive growth over the estimated duration owing to surging awareness pertaining to the utilization of cryotherapy, unfulfilled market needs as well as unexploited market potential will support market growth. Furthermore, the affordability of this treatment, limited side effects, and rising the accessibility of the treatment in the Asia Pacific would amplify market size during the projected time span.
The key players profiled in the global cryotherapy market are Zimmer MedizinSystems, Wallach Surgical Device, Mectronic Medicale, S.r.l., Galil, Medical, Inc., Cortex Technologies, CooperSurgical, Inc., Brymill Cryogenic Systems, CryoConcepts LP, and Medtronic plc.
The prominent findings of the report suggest that the equipment available in the market are consistently focusing on technological advancements. Organizations consider the factors like increasing awareness and adoption of cryotherapies in the emerging economies while developing new-fangled devices procedures.
Marker analysts claim that North America would dominate the business space over 2018 to 2025 and the Asia Pacific will observe high growth because of the emerging economies of China and India.