Cryotherapy Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Cryotherapy Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : October, 2020 | Biotechnology | PPT format

Report Digest


Global Cryotherapy Market: Overview

Cryotherapy refers to a medical therapy that finds its use in the application of low temperature to a damaged or an injured part of a body. Cryotherapy is extensively used for the purpose of treatment of post-operative swelling, swelling, sprains, soft tissue damage, and muscle pains. This new form of treatment is regarded as one of the most promising procedure for cancer treatment, which is likely to drive the global cryotherapy market.

The global cryotherapy market has been segmented on the basis of product, application, end user, and region. The main objective of providing such a comprehensive report is to provide a deep insight into the market.

Global Cryotherapy Market: Notable Developments

The global cryotherapy market has come across quite a few developments in the last few years. These market developments suggest a trend and give an idea about the growth factors of the global cryotherapy market. One such development of the market is mentioned below:

  • In 2019, Medtronic Plc entered into a collaboration with Amsterdam-based Koninklijke Philips N.V. This collaboration is expected to lead to Medtronic selling the products of Philips. This is collaboration is likely to provide an integrated, innovative image guidance solution for the procedure of cryoablation. This process is meant for the advance treatment of a common heart rhythm disorder called paroxysmal atrial fibrillation. Such a strategic move is likely to encourage growth of the global cryotherapy market.

Some of the key market players of the global cryotherapy market are

  • Medtronic plc.
  • Brymill Cryogenci Systems
  • Wallach Surgical Devices Inc
  • Cooper Surgical, Inc.
  • Zimmer MedizinSysteme GmbH
  • Galil Medical, Inc.

Global Cryotherapy Market: Growth Drivers

Increased Demand for Minimally Invasive and Non-invasive Procedures Bolsters Demand

The global cryotherapy market is expected to be driven by the rising number of minimally-invasive and non-invasive procedures performed worldwide. Growing preference for minimally-invasive and non-invasive procedures is rising amongst the people, particularly in case of treatment of skin problems and enhancement of one’s physical attributes.

Apart from that, a rise in the number of sports injuries together with cardiac conditions and cancer is likely to encourage development of the global cryotherapy market in the years to come. According to the findings of American Journal of Sports Medicine report for 2016, every year around 3.5 million athletes who are aged 14 years and under are faced with injuries associated with sports. Nearly 77% of all of these injuries affect the foot, ankle, and lower leg of an athlete. Cryotherapy is widely utilized by the athletes for alleviating pain in the muscles and bettering quality of sleep. 

However, only the use of cryo probes and gas have been approved by the U.S. Food and Drug Administration and the products of whole body cryotherapy are yet to receive approval from the regulatory agency. Furthermore, absence of substantial evidence pertaining to the effectiveness and safety of whole body cryotherapy products is likely to hamper the growth of the global cryotherapy market in the years to come.

Global Cryotherapy Market: Regional Outlook

In terms of region, the global cryotherapy market is split into the key regions of Middle East and Africa, North America, Europe, Asia Pacific, and Latin America. North America is likely to dominate the market over the tenure of assessment due to the presence of highly advanced healthcare infrastructure. In addition, high per capita medical expenditure is estimated to emerge as another growth factor for the market.

The global cryotherapy market is segmented as:

Product

  • Cryosurgery Devices
  • Localized Cryotherapy Devices
  • Cryosaunas

Application

  • Surgical Application
  • Pain Management
  • Health & Beauty

End User

  • Hospitals and Specialty Clinics
  • Spas

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?