According to the research report titled ‘Cryotherapy Market Size, Share, Trends, Industry Analysis Report By Device Type; By Therapy Type; By Application Type and By Regions - Segment Forecast 2020-2026’, available with Market Study Report, global cryotherapy market is reckoned to witness a y-o-y growth rate of 9.8% between 2020 and 2026 and accounting for USD 6.72 billion by the end of the forecast period.
 

Increased pervasiveness of cancer, growing demand for minimally invasive treatment options, and technological advancements in this business domain are some of the key factors driving the growth of global cryotherapy market.
 

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For those unaware, cryotherapy is the application of low temperature solutions for curing malignant tissues. It is widely used for releasing muscle pain, swelling, sprains, postoperative swelling and soft tissue damage.
 

Improving cognizance regarding healthy lifestyle is also stimulating global cryotherapy market. However, high concerns regarding the effectiveness and safety associated with the technology coupled with strict regulatory outlook could act as a bottleneck to the expansion of the overall market.
 

In terms of therapy type, cryosurgery segment is likely to account for the largest market share during the forecast period. Cryosurgery not only helps in treating damaged tissues, but also prevents any post-surgical harm to the body. Moreover, faster recovery rates and negligible side effects are also paving the way towards the segmental growth.
 

Global cryotherapy market share from oncology applications is predicted to expand considerably during the forecast period. The segment currently accounts for 80% market share owing to high occurrence of cancer and growing demand for cryotherapy for treating chronic conditions.
 

Considering the geographical landscape, North America and Europe are likely to generate lucrative returns for global cryotherapy market in the ensuing years. Growing demand for cryo-treatment options from film actors and athletes and innovative product launches are favoring the market outlook in the two regions.
 

Zimmer MedizinSysteme GmbH, Wallach Surgical Devices Inc., Mectronic Medicale S.r.l., Galil Medical Inc., CooperSurgical Inc., Cortex Technologies Corporation, Brymill Cryogenic Systems, Medtronic plc, CryoConcepts LP are the prominent companies operating in global cryotherapy market.