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 : August, 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

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

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

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.