Cryotherapy Devices Market By Type (Cryosurgery Devices, Whole Body Cryotherapy Devices (Cyrochambers), Partial Body Cryotherapy Devices), By Application (Pain Management, Surgical Applications, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Industry Outlook

The growing adoption of minimally invasive procedures and the enhanced safety profile of cryoablation and cryotherapy are the key factors that are determining the overall trends in the global cryotherapy devices market. These factors have led to increased adoption of cryotherapy devices in cardiology, renal conditions, pain management, and tumor removal. Cryotherapy mainly involves administration at very low temperatures in surgery and chambers. Agents such as carbon dioxide, argon, liquid nitrogen, and dimethyl ether propane are extensively employed in cryotherapy applications. The increasing popularity of cryotherapy in the treatment of several cancers, musculoskeletal conditions, chronic pain, and cosmetic treatments is also witnessed in the market, where a critically high emphasis is observed in dermatology and beauty treatments.

Market Synopsis

The global cryotherapy devices market, by product type, is segmented into cryosurgery devices, whole-body cryotherapy devices, and partial-body cryotherapy devices. The cryosurgery devices segment is further classified as contact probes, spray probes, and epidermal and subcutaneous cryoablation devices. At present, cryosurgery devices command the global market and are expected to retain their dominance through the forecast period. Cryosurgery involves a minimally invasive procedure and is, therefore, in high demand in global markets. Treatment of cardiovascular diseases and tumors by freezing damaged or cancerous tissue is gaining popularity due to its proven safety. The addition of cryosurgery to chemotherapy and hormonal therapy improved treatment outcomes. The use of cryotherapy in dermatology is expected to grow rapidly during the forecast period. Cryosurgery is easily performed in office settings with high safety and has wide dermatological applications in treating conditions such as actinic keratosis, benign neoplasms, seborrheic keratosis, and carcinoma.

Surgical applications are the highest revenue-generating segment.

Based on the application areas, the global cryotherapy market is segmented into pain management, surgical applications, and others. Among these, surgical applications dominate the global market, where the demand for oncology applications is the highest. In recent years, there has been an increasing demand for minimally invasive surgical procedures. Advancements in intraoperative imaging techniques are primarily attributed to the growing demand for minimally invasive surgical procedures. For the purpose of tumor management with cryosurgery, intraoperative ultrasound guidance is employed.

North America is set to remain the largest regional market.

North America is currently the largest regional market for cryotherapy devices. The dominance of this region is attributed to the high prevalence of cancer, which demands minimally invasive surgeries, swift approvals for novel devices, and better reimbursements. The significant prevalence of cancer in the region, along with a high preference for employing novel surgical solutions, is also a key characteristic of the North American market. Furthermore, the demand for aesthetic procedures for anti-aging and sun damage repair is also contributing to the growing demand for cryotherapy devices in North America. The demand for whole-body cryotherapy devices (cryochambers) is significantly high in the region. The proliferation of aesthetics and cosmetics and the overall well-being industry are also contributing to the high demand for whole-body cryotherapy devices.

Periods of History and Forecast

This research report presents the analysis of each considered segment for the period from 2016 to 2026, using 2017 as the base year for estimations. Compounded annual growth rates (CAGRs) for each segment are calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The cryotherapy devices The market report provides a quantitative assessment of the industry in terms of current and forecasted market size while also presenting the market dynamics. This market is segmented based on type, applications, testing type, and geography.

This report also includes qualitative information sets for each segment considered, along with other information such as market trends, drivers, challenges, and opportunities. The market positioning of key players operating in this industry is also graphically demonstrated in this study. The report concludes with a profile of major companies occupying key positions in the global market. The major market players profiled in this report include US Cryotherapy, Impact Cryotherapy, Cryo Innovations, Medtronic plc, Cryoconcepts LP, CooperSurgical, Inc., Zimmer MedizinSysteme GmbH, METRUM CRYOFLEX Sp. z o.o., Sp. k., Erbe Elektromedizin GmbH, Cryoswiss GmbH, Brymill Cryogenic Systems, and Galil Medical, Inc.

Key questions are answered in this report.

  • What is the forecasted size of the global cryotherapy devices market in 2026?
  • Will the dominance of the cryosurgery devices segment be challenged by any other product type?
  • Which are the key driving factors contributing to the dominance of the oncology surgical devices segment?
  • Will the rapidly growing Asia-Pacific market surpass the robust North American market within the forecast period?

Frequently Asked Questions:

The market for Cryotherapy Devices is expected to reach XX Bn in 2026.

The Cryotherapy Devices market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

Medtronic plc,US Cryotherapy,Impact Cryotherapy,Cryo Innovations,Cryoconcepts LP are some of the major players in the global market.

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Published Date:  Dec 2018
Category:  Medical Devices
Report ID:   59469
Report Format:   PDF
Pages:   120
Rating:    4.4 (58)
Delivery Time: 24 Hours to 48 Hours   
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