Cryotherapy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Cryotherapy Market is Segmented by Product (Cryosurgery Devices, Localized Cryotherapy Devices, Cryochambers, and Cryosaunas), Application, End User, and Geography.

Cryotherapy Market Snapshot

cryotherapy market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 9.2 %

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Market Overview

The growing prevalence of cancer is one of the major factors for the growth of the cryotherapy market. As per the WHO statistics, cancer accounts for 13% of deaths globally every year. Moreover, a 70% increase in cancer incidences is anticipated over the next couple of decades, and the global geriatric population is anticipated to nearly double from 12% to 22% from 2015 to 2022.

Furthermore, increasing technological advancements in the cryotherapy treatment, increasing inclination toward the minimally invasive procedures, and rise in applications of cryotherapy treatment, such as cardiac conditions, pain management, skin disorders, beauty, wellness, and fitness, are likely to propel the growth of the cryotherapy market.

However, the high cost of treatment, stringent safety guidelines, adverse effects associated with cryogenic gases, lack of complete knowledge regarding cryotherapy, and the complexity of the cryotherapy mechanisms are likely to hinder the cryotherapy market.

Scope of the Report

As per the scope of the report, cryotherapy is also known as cryoablation, cryosurgery, targeted cryoablation therapy, and percutaneous cryotherapy. Cryotherapy is a minimally invasive method that uses extreme cold to freeze and destroy the infected tissues or cells. In the process of cryotherapy treatment, high-pressure argon gas or liquid nitrogen flows into a needle-like applicator called as cryoprobe, which creates an intense cold on the diseased cell or tissue. Imaging techniques, such as CT, MRI, or ultrasound, are used to guide the cryoprobes to treat the sites in the body. It may be used to treat a variety of skin conditions, pain management, tumors within the liver, kidneys, bones, lungs, and breast.

Product
Cryosurgery Devices
Tissue Contact Probes
Tissue Spray Probes
Epidermal and Subcutaneous Cryoablation Devices
Localized Cryotherapy Devices
Cryochambers and Cryosaunas
Application
Surgical Applications
Oncology
Cardiology
Dermatology
Other Surgical Applications
Pain Management
Recovery, Health, and Beauty
End User
Hospitals
Cryotherapy Centers
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Oncology Segment May Dominate the Cryotherapy Market

The oncology segment may hold the highest market share during the forecast period, due to high incidence and prevalence of cancer, as well as growing awareness regarding various types of cryotherapy approaches. Cryosurgery is used to treat several types of cancers, as well as some precancerous or noncancerous conditions. In addition to prostate and liver tumors, cryosurgery can be an effective treatment for Retinoblastoma, early-stage skin cancers (both basal cell and squamous cell carcinomas), precancerous skin growths known as actinic keratosis, and precancerous conditions of the cervix known as cervical intraepithelial neoplasia.

Cryosurgery is also used to treat some types of low-grade cancerous and noncancerous tumors of the bone. It may reduce the risk of joint damage compared to open surgery and help lessen the need for amputation. The treatment is also used to treat AIDS-related Kaposi sarcoma when the skin lesions are small and localized.

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North America May Hold the Largest Market Share in the Cryotherapy Market

North America is the largest regional market in terms of revenue, due to the presence of skilled professionals, increasing adoption of whole body cryotherapy, increasing adoption of cryotherapy for cancers and skin disorders, rising prevalence of cancer, and increasing adoption of minimally invasive surgeries.

Furthermore, high healthcare expenditure by local governments, highly developed healthcare infrastructure in the United States and Canada, and the availability of well-developed cryotherapy products in this region may also influence the market growth during the forecast period.

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Competitive Landscape

There is high competition among the players operating in the cryotherapy market. Some of the market players are Medtronic PLC, Impact Cryotherapy Inc., Zimmer Medizinsysteme GmbH, Brymill Cryogenic Systems Ltd, Cryoconcepts LP, Kriosystem Life Sp Zoo, Galil Medical Inc., Cooper Surgical Inc., Channel Medsystems Inc., and Erbe Elektromedizin GmbH.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Applications of Cryosurgery

      2. 4.2.2 Technological Advancements in Cryotherapy Equipment

      3. 4.2.3 Rising Preference for Minimally Invasive Techniques

    3. 4.3 Market Restraints

      1. 4.3.1 Hazardous Effects of Cryogenic Gases

      2. 4.3.2 Complexity of the Cryotherapy Mechanisms

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product

      1. 5.1.1 Cryosurgery Devices

        1. 5.1.1.1 Tissue Contact Probes

        2. 5.1.1.2 Tissue Spray Probes

        3. 5.1.1.3 Epidermal and Subcutaneous Cryoablation Devices

      2. 5.1.2 Localized Cryotherapy Devices

      3. 5.1.3 Cryochambers and Cryosaunas

    2. 5.2 Application

      1. 5.2.1 Surgical Applications

        1. 5.2.1.1 Oncology

        2. 5.2.1.2 Cardiology

        3. 5.2.1.3 Dermatology

        4. 5.2.1.4 Other Surgical Applications

      2. 5.2.2 Pain Management

      3. 5.2.3 Recovery, Health, and Beauty

    3. 5.3 End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Cryotherapy Centers

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Medtronic

      2. 6.1.2 Impact Cryotherapy

      3. 6.1.3 Zimmer Medizinsysteme

      4. 6.1.4 Metrum Cryoflex

      5. 6.1.5 Brymill Cryogenic Systems

      6. 6.1.6 Cryoconcepts

      7. 6.1.7 Kriosystem Life

      8. 6.1.8 CryoUSA

      9. 6.1.9 Cooper Surgical

      10. 6.1.10 Quantum Cryogenics

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Cryotherapy Market market is studied from 2018 - 2026.

The Cryotherapy Market is growing at a CAGR of 9.2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Impact Cryotherapy, Zimmer Medizinsysteme, Cryoconcepts, CryoUSA, Quantum Cryogenics are the major companies operating in Cryotherapy Market.

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