SAN FRANCISCO, October 5, 2016 /PRNewswire/ --
The global cryotherapy market was valued at USD 2.5 billion in 2015 and is expected to reach a value of USD 5.6 billion by 2024. This growth is majorly attributed to the rising demand for minimally invasive procedures and the surging prevalence of skin, retinoblastoma, prostate, and cervical cancer, and others. Minimally invasive cryosurgery provides various advantages over conventional surgery such as less pain, fewer scars and complications, and shorter hospital stay.
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Cryosurgery is considered an advantageous option for inoperable patients or patients who are nonresponsive to treatment. Various cancer types including prostate, retinoblastoma, and cervical cancer are remediable with cryotherapy. According to the National Cancer Institute in the U.S., in 2013, over 14.1 million people were suffering from cancer. It is estimated that in 2016, more than 168,000 new cancer cases will be diagnosed in the U.S. Also, in 2013, more than 17,600 men in the U.S. were diagnosed with prostate cancer and it is estimated that this number will progressively grow in the near future. As a result of these cancer cases the market is expected to experience an upsurge.
Furthermore, in addition to the presence of untapped opportunities in the developing economies, such as China and India, the increasing investment in the healthcare sector is projected to propel the growth of this sector.
Browse full research report with TOC on "Cryotherapy Market Analysis by Therapy Type (Cryosurgery, Icepack Therapy, Chamber Therapy), by Device Type (Cryoguns, Cryo Probes, Gas Cylinders, Cryo Chambers, Gas Pressure Gauges, Thermocouple Devices), by Application Type (Oncology, Cardiology, Dermatology, Pain management, Ophthalmology, Gynecology), and Segment Forecasts to 2024" at: http://www.grandviewresearch.com/industry-analysis/cryotherapy-market
Further Key Findings from the Study Suggest:
Grand View Research has segmented the cryotherapy market by therapy type, device type, application type, and region:
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