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.
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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
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
About
Grand View Research
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View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
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