PUNE, India, January 16, 2018 /PRNewswire/ --
According to a new market research "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", published by MarketsandMarkets™, the market is expected to reach USD 274.8 Million by 2022 from an estimated USD 180.0 Million in 2017, at a CAGR of 8.8%.
Browse 65 market data Tables and 25 Figures spread through 120 Pages and in-depth TOC on "Cryotherapy Market"
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The key factors driving the growth of this market are the increasing demand for minimally invasive surgical procedures, growing incidence of cancer and cardiac conditions, technological advancements in cryotherapy equipment, and growing popularity in beauty wellness and fitness industry.
By product, the cryosurgery devices segment is expected to account for the largest share of the market in 2017
On the basis of product, the Cryotherapy Market is broadly segmented into cryosurgery devices, localized cryotherapy devices, and cryochambers & cryosaunas. The cryosurgery devices segment is further divided into tissue contact probes, tissue spray probes, and epidermal & subcutaneous cryoablation devices. In 2017, the cryosurgery devices segment is expected to account for the largest share of this market. The high growth in this segment can be attributed to the increasing preference for minimally invasive procedures and technological advancement in cryosurgery devices.
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By application, the surgical applications segment is expected to command the largest share of the market in 2017
On the basis of application, the market has been segmented into surgical applications, pain management and recovery, health & beauty. Surgical applications are further subsegmented into oncology, cardiology, dermatology, and other surgical applications (gynecology, rheumatology, podiatry, and urology). The surgical applications segment is expected to command the largest share of the market in 2017. The large share and high growth of this segment can be attributed to factors such as the rising number of global cryoablation surgeries especially for oncology, dermatology, and cardiology coupled with low complications involved.
By end user, the hospitals and specialty clinics segment is expected to account for the largest share of the market in 2017
On the basis of end user, the Cryotherapy Market is broadly segmented into hospitals and specialty clinics, cryotherapy centers, and spas & fitness centers. In 2017, hospitals and specialty clinics are expected to account for the largest share of this market. The large share of this segment can be attributed to the increasing popularity and benefits of cryoablation procedures which are performed at hospitals.
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North America to dominate the market in 2017
North America is expected to account for the largest share of the Cryotherapy Market in 2017, followed by Europe, Asia Pacific (APAC), and the Rest of the World. The large share of this region can be attributed to the increasing popularity of cryosaunas and rising prevalence of CVD and cancer in the US, along with the increasing number of cardiac arrest cases in Canada. However, Asia Pacific is expected to register the highest CAGR during the forecast period, owing to the rapid growth in geriatric population in Japan, booming medical tourism and healthcare reforms in China, and increasing cancer incidences in India.
Medtronic (Ireland), Galil Medical (US), CooperSurgical (US), Impact Cryotherapy (US), and Zimmer MedizinSysteme (Germany) are the key players in the Cryotherapy Market. Other players involved in this market are Metrum CryoFlex (Poland), Erbe Elektromedizin (Germany), Brymill Cryogenic Systems (US), CryoConcepts (US), US Cryotherapy (US), Professional Products (US), and Kriosystem Life (Poland).
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