Cryotherapy Market by Product (Cryosurgery Devices, Localized Cryotherapy Devices, Cryochambers), Application (Surgical Applications, Pain Management, Recovery), End User (Hospitals, Cryotherapy Centers), and Region - Global Forecast to 2022
“The cryotherapy market is projected to grow at a CAGR of 8.8%.”
The global cryotherapy market is projected to reach USD 274.8 million by 2022 from an estimated value of USD 180.0 million in 2017, at a CAGR of 8.8%. The key factors driving the growth of this market are increasing demand for minimally invasive procedures; growing incidence of cancer and cardiac conditions; technological advancements in cryotherapy equipment; and growing popularity in the beauty, wellness, and fitness industries. On the other hand, hazardous effects of cryogenic gases and stringent regulatory approvals could be challenging factors for this market.
“The surgical applications segment is projected to grow at the highest CAGR during the forecast period.”
Based on application, the cryotherapy market is segmented into surgical applications; pain management; and recovery, health, & beauty. The surgical applications segment is further categorized into oncology, cardiology, dermatology, and other surgical applications (gynecology, rheumatology, podiatry, and urology). The surgical applications segment is expected to grow at the highest CAGR during the forecast period. The large share and high growth of this segment can be attributed to factors such as rising incidence of cancer and cardiac conditions.
“Asia Pacific to witness the highest growth during the forecast period.”
Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2017–2022. Factors such as rapid growth in geriatric population in Japan, booming medical tourism and healthcare reforms in China, and increasing cancer incidences in India are expected to drive market growth during the forecast period.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–54%, Tier 2-35%, and Tier 3–11%
• By Designation – C-level–24%, Director Level–17%, Others–59%
• By Region – North America–36%, Europe–27%, Asia Pacific–22%, RoW–15%
Some of the major players in the cryotherapy market include Medtronic (Ireland), Galil Medical (US), CooperSurgical (US), Impact Cryotherapy (US), and Zimmer MedizinSysteme (Germany).
The report analyzes the cryotherapy market and aims at estimating the market size and the future growth potential of this market based on various segments such as product, application, end user, and region. The report also includes an in-depth regulatory analysis for various regions across the globe and competitive analysis of the key players in this market along with their company profiles, recent developments, and key market strategies.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on product and service portfolios offered by the top players in the global cryotherapy market. The report analyzes the global cryotherapy market by product, application, end user, and region.
• Service Enhancement/Innovation: Detailed insights on upcoming trends and new service launches in the global cryotherapy market
• Market Development: Comprehensive information on the lucrative emerging markets by product, application, end user, and region
• Market Diversification: Exhaustive information about new services or service enhancements, growing geographies, recent developments, and investments in the global cryotherapy market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, services, and capabilities of cryotherapy equipment of leading players in the global market