Bharat Book Bureau Provides the Trending Market Research Report on “Global Cryotherapy Market Forecast to 2022” under Life Sciences. The report provides information on industry overview, market size, latest developments, industry trends, Major players, global presence, and their future prospects.
Cryotherapy Market is projected to grow at a CAGR of 8.8%
The global cryotherapy market is projected to reach USD 274.8 million by 2022 from an estimated value of USD 180.0 million in 2017, at a CAGR of 8.8%. 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.
The surgical applications segment is projected to grow at the highest CAGR during the forecast period
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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 to witness the highest growth during the forecast period
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.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1–54%, Tier 2-35%, and Tier 3–11%
- By Designation – C-level–24%, Director Level–17%, Others–59%
- By Region – North America–36%, Europe–27%, Asia Pacific–22%, RoW–15%
Some of the major players in the cryotherapy market include Medtronic (Ireland), Galil Medical (US), CooperSurgical (US), Impact Cryotherapy (US), and Zimmer MedizinSysteme (Germany).
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