November 16, 2020 05:04 ET | Source: Market Study Report, LLC.

Selbyville, Delaware, Nov. 16, 2020 (GLOBE NEWSWIRE) -- According to industry experts, worldwide cryotherapy market is projected to register a y-o-y growth rate of 9.8% during 2020-2026, subsequently accumulating USD 6.72 billion by the end of the forecast period. Increasing burden of cancer globally, growing preference towards minimally invasive procedures, technological advancements, along with expansion of fitness, wellness, and beauty industries are catalyzing the industry growth.

Proceeding further, the research literature offers an expansive view of the overall industry through a country-level analysis of the regional markets. Moreover, in-depth segmentation studies including device type, therapy type, and application scope are provided to identify the top areas for investments that may yield strong returns in the coming years. Besides, it profiles the top players in this field and uncovers the strategies adopted by them to fortify their position at a global level.

For the uninitiated, cryotherapy is a low temperature application for treating malignant tissues or tissue damage called lesions. This therapy is commonly used in treating sprains, muscle pain, swelling, postoperative swelling, and soft tissue damage. It is also considered to have a high efficacy in cancer treatment. Growing demand of the procedure for aforementioned applications is strengthening global cryotherapy industry outlook.

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Procedural effectiveness in treating arthritis, rheumatoid conditions, and cardiovascular ailments, in consort with constant advancements are impelling the market expansion.

On the contrary, lack of clinical evidences regarding the use of argon gas and crypto probes as a definitive standard negatively impacts the cryotherapy business landscape. Moreover, high risk linked with cryogenic gases, and strict regulatory policies will restrain global cryotherapy market expansion. However, benefits like higher success rate over traditional surgery, minor scars, less pain, and reduced hospitalization time will bolster the industry growth in the coming years.

Device type overview:

Global cryotherapy market, based on type, is fragmented into cryogun, gas cylinders, cryoprobes, cryochambers, thermocouple devices, and gas pressure gauges. Cryoprobes and cryoguns segments are likely to showcase strong growth over the forecast period as the proper application of cryogenic gases like carbon dioxide, liquid nitrogen, argon, and dimethyl ether-propane require the utilization of these devices in pain management therapies.

Therapy type outline:

Global cryotherapy industry is categorized into cryosurgery, cryo chamber therapy, and icepack therapy, among which, the foremost segment currently holds majority of the industry share. Paradigm shift towards minimally invasive procedure is fostering the demand for cryosurgery. Further, lower side-effects and faster recovery time are likely to boost segmental share in the coming years.

Application scope:

Global cryotherapy market end-user scope is split into cardiology, oncology, dermatology, ophthalmology, pain management, and gynecology. According to trusted records, oncology segment captured majority industry share in recent past and will continue to showcase strong growth trends over 2020-2026, attributable to escalating number of cancer patients and associated deaths across the globe.

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https://www.marketstudyreport.com/reports/cryotherapy-market-size-share-trends-industry-analysis-report-by-device-type-cryoguns-cryoprobes-gas-cylinders-cryochambers-gas-pressure-gauges-thermocouple-devices-by-therapy-type-cryosurgery-icepack-therapy-chamber-therapy-by-application-type-and-by-regions-segment-forecast-2020-2026

Regional outlook:

At present, North America is the leading contributor to global cryotherapy market remuneration, owing to presence of a well-established healthcare infrastructure, high per capita expenditure, and huge government investment in healthcare. In fact, national healthcare expenditure of the United States was USD 3 trillion in 2014.

Meanwhile, Asia Pacific cryotherapy market is slated to grow exponentially over the projected timeline. Rising awareness regarding cryotherapy, improving healthcare infrastructure, low treatment cost, and rising accessibility to treatment are contributing to the regional industry expansion.

Global Cryotherapy Market Device Type Sub-Segments (Revenue, USD Million, 2015-2026)

Global Cryotherapy Market Therapy Type Sub-Segments (Revenue, USD Million, 2015-2026)

Global Cryotherapy Market Application Sub-Segments (Revenue, USD Million, 2015-2026)

Global Cryotherapy Market Regional Bifurcation (Revenue, USD Million, 2015-2026)

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Global Cryotherapy Market Competitive Dashboard (Revenue, USD Million, 2015-2026)

Table of Contents

1. Overview and Scope

1.1. Research goal & scope

1.2. Research assumptions

1.3. Research Methodology

1.3.1. Primary data sources

1.3.2. Secondary data sources

1.4. Key take-aways

1.5. Stakeholders

2. Executive Summary

2.1. Market Definition

2.2. Market Segmentation

3. Industry Insights

3.1. Cryotherapy Market - Industry snapshot

3.2. Cryotherapy Market - Ecosystem analysis

3.3. Cryotherapy Market - Market dynamics

3.3.1. Cryotherapy Market - Market Forces

3.4. Industry analysis - Porter's five force

3.5. Cryotherapy Market PEST analysis, 2019

3.6. Value Chain Analysis

3.7. Cryotherapy Market Industry trends

4. Cryotherapy Market Size and Forecast by Device Type

4.1. Key findings

4.2. Cryoguns

4.2.1. Global market estimates and forecasts, 2015 - 2026

4.3. Cryo Probes

4.3.1. Global market estimates and forecasts, 2015 - 2026

4.4. Gas Cylinders

4.4.1. Global market estimates and forecasts, 2015 - 2026

4.5. Cryo Chambers

4.5.1. Global market estimates and forecasts, 2015 - 2026

4.6. Gas Pressure Gauges

4.6.1. Global market estimates and forecasts, 2015 - 2026

4.7. Thermocouple Devices

4.7.1. Global market estimates and forecasts, 2015 - 2026

5. Cryotherapy Market Size and Forecast by therapy type

5.1. Key Findings

5.2. Cryosurgery

5.2.1. Global market estimates and forecasts, 2015 - 2026

5.3. Icepack Therapy

5.3.1. Global market estimates and forecasts, 2015 - 2026

5.4. Chamber Therapy

5.4.1. Global market estimates and forecasts, 2015 - 2026

6. Cryotherapy Market Size and Forecast by Application Type

6.1. Key Findings

6.2. Oncology

6.2.1. Global market estimates and forecasts, 2015 - 2026

6.3. Cardiology

6.3.1. Global market estimates and forecasts, 2015 - 2026

6.4. Dermatology

6.4.1. Global market estimates and forecasts, 2015 - 2026

6.5. Pain Management

6.5.1. Global market estimates and forecasts, 2015 - 2026

6.6. Ophthalmology

6.6.1. Global market estimates and forecasts, 2015 - 2026

6.7. Gynecology

6.7.1. Global market estimates and forecasts, 2015 - 2026

7. Cryotherapy Market Size and Forecast by Regions

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Global cryotherapy market size to reach USD 6.72 billion by 2026 - GlobeNewswire