San Francisco, 24
October 2018: The global cryotherapy
market was valued at USD
2.5 billion in 2015 and is expected to reach a value of USD 5.6 billion by
2024. This growth is majorly attributed to the rising demand for minimally
invasive procedures and the surging prevalence of skin, retinoblastoma,
prostate, and cervical cancer, and others. Minimally invasive cryosurgery
provides various advantages over conventional surgery such as less pain, fewer
scars and complications, and shorter hospital stay.
Cryosurgery is considered an advantageous
option for inoperable patients or patients who are nonresponsive to treatment.
Various cancer types including prostate, retinoblastoma, and cervical cancer
are remediable with cryotherapy. According to the National Cancer Institute in
the U.S., in 2013, over 14.1 million people were suffering from cancer. It is
estimated that in 2016, more than 168,000 new cancer cases will be diagnosed in
the U.S. Also, in 2013, more than 17,600 men in the U.S. were diagnosed with
prostate cancer and it is estimated that this number will progressively grow in
the near future. As a result of these cancer cases the market is expected to
experience an upsurge.
Furthermore, in addition to the presence of
untapped opportunities in the developing economies, such as China and India,
the increasing investment in the healthcare sector is projected to propel the
growth of this sector.
Access Research Report of Cryotherapy Market@ www.grandviewresearch.com/industry-analysis/cryotherapy-market
Further Key Findings from the Study Suggest:
· The cryosurgery was the largest grossing
segment in 2015 and is expected to maintain its position during the forecast
period. The U.S. was a major contributor of this vertical. Innovation in
surgical technologies and its rising demand in the developing economies will be
a vital factor contributing to the sector growth
· The cryogun segment is expected to lead
this market in terms of revenue during the forecast period. The growth is
attributed to its high use in therapy and product advancement. For instance,
TrackerCam is an advanced cryogun device, which is equipped with an in-built
camera, enabling physicians view the lesion area with greater clarity to
perform accurate cryosurgical procedures
· North America held over 35% of the market
share of the global cryotherapy vertical in the year 2015. This region is
projected to maintain its dominance throughout the forecast period.
Well-developed healthcare infrastructure and availability of advanced
technology and skilled professionals is anticipated to impel the demand for
cryotherapy during the forecast period
· The Asia Pacific region is projected to be
the fastest growing regional market. Growing healthcare awareness in the fast
emerging economies of India and China is mainly propelling the demand for
cryotherapy products in the Asia Pacific region
· This vertical involves several global as
well as local players with some of the major participants being CryoConcepts
LP, Brymill Cryogenic Systems, Metrum Cryoflex, CooperSurgical, Inc., CORTEX
TECHNOLOGY, Cryoalfa, Erbe Elektromedizin, GmbH, Galil Medical, Inc., Mectronic
Medicale, S.r.l, Medtronic, PHYSIOMED ELEKTROMEDIZIN, AG, Sanarus, Special
Medical Technology Co., Ltd., Wallach Surgical Devices, and Zimmer
MedizinSystems
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the
cryotherapy market by therapy type, device type, application type, and region:
Cryotherapy Market Therapy Type Outlook
(Revenue, USD Million, 2013 - 2024)
·
Cryosurgery
·
Icepack Therapy
·
Chamber Therapy
Cryotherapy Device Type Outlook (Revenue,
USD Million, 2013 - 2024)
·
Cryoguns
·
Cryo probes
·
Gas cylinders
·
Others ( Cryo chambers, gas pressure
gauges, and thermocouple devices)
Cryotherapy Application Type Outlook
(Revenue, USD Million, 2013 - 2024)
·
Oncology
·
Cardiology
·
Dermatology
·
Pain management
·
Others (ophthalmology and gynecology )
Cryotherapy Market Regional Outlook
(Revenue, USD Million, 2013 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East and Africa
Access Press Release of
Cryotherapy Market@ www.grandviewresearch.com/press-release/global-cryotherapy-market
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