The global cryotherapy market is projected to reach USD 274.8 Million by 2022 from USD 180 Million in 2017, at a CAGR of 8.8% during the forecast period.
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.
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 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.
Some of the major players in the cryotherapy market include Medtronic (Ireland), Galil Medical (US), CooperSurgical (US), Impact Cryotherapy (US), and Zimmer MedizinSysteme (Germany).
Increasing Demand for Minimally Invasive Procedures
Growing Incidence of Cancer and Cardiac Conditions
Technological Advancements in Cryotherapy Equipment
Growing Popularity in the Beauty, Wellness, and Fitness Industries
Hazardous Effects of Cryogenic Gases
Growing Research on Unexplored Medical Conditions
Limited Availability of Cryotherapy Techniques and Lack of Awareness
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Cryotherapy Market, by Product
7 Cryotherapy Market, by Application
8 Cryotherapy Market, by End User
9 Cryotherapy Market, by Region
10 Competitive Landscape
11 Company Profiles
Brymill Cryogenic Systems
Coopersurgical (A Subsidiary of the Cooper Companies)