Dublin, Aug. 06, 2019 (GLOBE NEWSWIRE) -- The "Cryotherapy Market by Product (Cryosurgery Devices, Localized Cryotherapy Devices, Cryosaunas), Application (Surgical Application, Pain Management, Health & Beauty), End User (Hospitals & Specialty Clinics, Spas) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The cryotherapy market is projected to reach USD 318.8 million by 2024 from USD 206.3 million in 2019, at a CAGR 9.1%.
The rising incidence of sports injuries, cardiac conditions, and cancers are driving the growth of the market. Increasing demand for minimally invasive procedures, technological advancements in cryotherapy equipment, and the growing popularity in the beauty, wellness, and fitness industries are also supporting the growth of this market. However, the limited access to cryotherapy and lack of awareness about its benefits may restrain the market to a certain extent during the forecast period.
The major players in the market include Medtronic (Ireland), Galil Medical (US), and CooperSurgical (US), Impact Cryotherapy (US), Zimmer MedizinSysteme (Germany), Metrum Cryoflex (Poland), Brymill Cryogenic Systems (UK), Erbe Elektromedizin (Germany), CryoConcepts (US), US Cryotherapy (US), Professional Products (US), and Kriosystem Life (Poland).
The cryosurgery devices segment is projected to dominate the cryotherapy products market during the forecast period
The cryotherapy products market has been segmented into cryosurgery devices, localized cryotherapy devices, and cryochambers & cryosaunas. The cryosurgery devices segment is further segmented into tissue contact probes, tissue spray probes, and epidermal & subcutaneous cryoablation devices. The cryosurgery devices segment held the largest share of this market in 2018 and is also estimated to grow at the highest CAGR during the forecast period. Cryosurgery is a comparatively simpler procedure compared to laser treatment, with fewer side effects and is more affordable. It is therefore considered to be suited for the treatment of cardiac arrhythmias, ophthalmologic conditions, and various types of cancers, as well as for cosmetic surgeries.
The surgical applications segment held the largest market share in 2018
By application, the cryotherapy market is segmented into surgical applications, pain management, and recovery, health, & beauty applications. The surgical applications segment accounted for the largest share of this market in 2018. The large share of this segment can be attributed to a higher adoption of cryoablation for cancer treatment. Cryoablation is a minimally invasive procedure with few side-effects; these benefits are also driving the adoption of cryotherapy for surgical applications.
The North American cryotherapy market is expected to hold the largest market during the forecast period
Geographically, the cryotherapy market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World. The North American market is expected to hold the largest share of this market during the forecast period. The growing popularity of cryotherapy, increasing prevalence of cancer & CVDs, and the rising number of sports and physical activity-related injuries are the key factors driving the North American cryotherapy market.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Cryotherapy: Market Overview
4.2 Europe: Cryotherapy Market, By Product (2018)
4.3 Market Share, By Application, 2019 vs 2024
4.4 Market Share, By Product, 2019 vs 2024
4.5 Cryotherapy Market Share, By End User, 2019 vs 2024
4.6 Geographical Snapshot of the Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Minimally Invasive/Non-Invasive Procedures
5.2.1.2 Growing Incidence of Sports Injuries, Cancer, and Cardiac Conditions
5.2.1.3 Technological Advancements in Cryotherapy Equipment
5.2.1.4 Growing Popularity in the Beauty, Wellness, and Fitness Industries
5.2.2 Restraints
5.2.2.1 Limited Access to Cryotherapy and Lack of Awareness
5.2.3 Opportunities
5.2.3.1 Growing Focus on Expanding Cryotherapy Applications
5.2.4 Challenges
5.2.4.1 Hazardous Effects of Cryogenic Gases
5.2.4.2 Lack of Evidence for the Efficacy of Whole-Body Cryotherapy
6 Cryotherapy Market, By Product
6.1 Introduction
6.2 Cryosurgery Devices
6.2.1 Tissue Contact Probes
6.2.1.1 Safety and Effectiveness of Tissue Contact Probes have Driven Their Use
6.2.2 Tissue Spray Probes
6.2.2.1 Ability to Treat Surgically Inoperable Tumors is Driving the Use of Spray Probes
6.2.3 Epidermal & Subcutaneous Cryoablation Devices
6.2.3.1 Anesthetic Properties of Epidermal & Subcutaneous Probes are Supporting Market Growth
6.3 Localized Cryotherapy Devices
6.3.1 Simplicity and Ease of Application have Popularized Localized Cryotherapy
6.4 Cryochambers & Cryosaunas
6.4.1 Chambers and Saunas are Widely Used in Sports
7 Cryotherapy Market, By Application
7.1 Introduction
7.2 Surgical Applications
7.2.1 Oncology
7.2.1.1 Increasing Cancer Incidence Will Propel Market Growth
7.2.2 Dermatology
7.2.2.1 The Use of Cryotherapy in Dermatology has Risen in Recent Years
7.2.3 Cardiology
7.2.3.1 Rising Research Into the Use of Cryotherapy and Growing Demand for Cvd Treatment Will Ensure Market Growth
7.2.4 Other Surgical Applications
7.3 Pain Management
7.3.1 Establishment of Cryotherapy Centres for Pain Management Will Contribute to Patient Demand
7.4 Recovery, Health, and Beauty Applications
7.4.1 Advantages of Cryotherapy have Resulted in Its Wide Adoption in These Fields
8 Cryotherapy Market, By End User
8.1 Introduction
8.2 Hospitals & Specialty Clinics
8.2.1 Hospitals & Specialty Clinics are the Major End Users of the Cryotherapy Market
8.3 Cryotherapy Centers
8.3.1 Cryotherapy Centers Offer Cryo Services to Enhance Wellness and Aid Recovery
8.4 Spas & Fitness Centers
8.4.1 Spas & Fitness Centers Offer Cryotherapy Services for Enhancing the Beauty and Overall Wellness of the Body
9 Cryotherapy Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 The Growing Popularity of Cryotherapy Among Fitness & Beauty Enthusiasts is Driving the Market for Cryotherapy in the US
9.2.2 Canada
9.2.2.1 High Burden of Cardiovascular Diseases to Drive the Demand for Cryosurgery
9.3 Europe
9.3.1 Germany
9.3.1.1 Germany to Register the Highest Growth in the European Cryotherapy Market During the Forecast Period
9.3.2 Poland
9.3.2.1 Increasing Research Studies on Cryotherapy to Support Market Growth
9.3.3 UK
9.3.3.1 Increasing Prevalence of Cancer & Arthritis to Drive Market Growth
9.3.4 Rest of Europe (RoE)
9.4 Asia Pacific
9.4.1 Large Patient Population of Cancer and Cardiac Diseases
9.5 Rest of the World (RoW)
10 Competitive Landscape
10.1 Introduction
10.2 Market Ranking Analysis
10.3 Competitive Leadership Mapping
10.3.1 Visionary Leaders
10.3.2 Innovators
10.3.3 Dynamic Differentiators
10.3.4 Emerging Companies
10.4 Competitive Scenario
10.4.1 Product Launches
10.4.2 Product Launches & Deployments
10.4.3 Partnerships and Collaborations
11 Company Profiles
11.1 Medtronic
11.2 Impact Cryotherapy
11.3 Zimmer Medizinsysteme
11.4 Metrum Cryoflex
11.5 Brymill Cryogenic Systems
11.6 Galil Medical (A Subsidiary of BTG PLC)
11.7 Coopersurgical (A Subsidiary of the Cooper Companies)
11.8 Cryoconcepts L.P.
11.9 Kriosystem Life
11.10 US Cryotherapy
11.11 Professional Products
11.12 Erbe Elektromedizin
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