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(Medical-NewsWire.com, November 08, 2018 ) Market Overview:
In the year 2018 Global Cryotherapy and Cryosurgery Market was valued at USD 3.03 billion. By the year 2023, it is predicted to reach USD 4.23 billion with pace of 6.9% CAGR.
Cryotherapy and Cryosurgery, is also known as cryoablation or targeted cryoablation therapy, which is a minimally invasive treatment that uses extreme cold temperature (0 to -20°C) to destroy or remove disease tissues. It is very useful in treating skin problems, heart diseases, injuries, improving immunity, and blood pressure. Cryotherapy is also widely used for treating sport related injuries.
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Factors affecting market growth:
Increasing prevalence of chronic diseases across the globe. (+)
Growing adoption of minimally invasive procedures. (+)
Advancement of technologies in surgeries. (+)
Increasing aging population across the world. (+)
Rising demand for effective healthcare facilities. (+)
Increasing investments for R&D activities in medical sector. (+)
High risk side effects. (-)
Stringent regulatory policies. (-)
High treatment costs. (-)
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The Global Cryotherapy and Cryosurgery Market is segmented on the basis of
Cryogenic Chamber Therapy
Skin Disease Treatment
Based on application market, cancer therapy holds the largest market share in the global cryotherapy and cryosurgery market due to increasing prevalence of cancer diseases. Skin treatment is also projected to grow rapidly due to advancement of technologies. On the basis of type market, cryosurgery segment has biggest market due to increasing demand for cancers and skin diseases treatment. Besides icepack therapy is expected to witness high growth rate in the Global Cryotherapy and Cryosurgery Market during the forecast period.
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Leading companies for Global Cryotherapy and Cryosurgery Market are Wallach Surgical Devices, MedGyn Products, Inc., CoolTouch Inc., Impact Cryotherapy, Galil Medical Inc., HealthTronics, Inc., KryoLife Inc, Medtronic, GRAND Cryo LLC, and Erbe USA, Incorporated.
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Market Data Forecast.