According to the new market research report ” Cryotherapy Market by Product (Cryosurgery Devices, Localized Cryotherapy Devices, Cryosaunas), Application (Surgical Application, Pain Management, Health & Beauty), End User (Hospitals & Specialty Clinics, Spas) – Global Forecast to 2024“, published by MarketsandMarkets™ , cryotherapy market is expected to grow from USD 206 million in 2019 to USD 319 million by 2024, at a CAGR of 9.1% during the forecast period.
Major Growth Drivers:
Growth in the cryotherapy market is primarily driven by factors such as the growing incidences of sports injuries, cardiac diseases, & cancers, and technological advancements in cryotherapy technology.
Expected Revenue Growth:
[120 Pages Report] The cryotherapy market is expected to grow from USD 206 million in 2019 to USD 319 million by 2024, at a CAGR of 9.1% during the forecast period.
Accessories to Fuel the Growth of Cryotherapy Market :
Cryotherapy has become an important treatment option, mainly due to the various technological innovations and advancements in cryotherapy equipment over the years. Developments have been observed in various equipment, including cryosurgery units and accessories.
Browse in-depth TOC on “Cryotherapy Market“
78 – Tables31 – Figures121 – Pages
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The cryosurgery devices segment is projected to grow at the highest rate during the forecast period
By product, the cryotherapy market is segmented into cryosurgery devices (tissue contact probes, tissue spray probes, and epidermal & subcutaneous cryoablation devices), localized cryotherapy devices, and cryochambers & cryosaunas. The cryosurgery devices segment is expected to witness the fastest growth during the forecast period. Advantages offered by cryosurgery, such as fewer side effects and greater affordability, are increasing its adoption. Consequently, the demand for cryotherapy devices is also growing.
North America is expected to hold a dominant share in the cryotherapy market during the forecast period
North America held the largest share of the market in 2018 and is projected to continue to do so during the forecast period. Factors such as the growing popularity of cryotherapy, rising prevalence of cancer, increase in sports and physical activity-related injuries, and rising prevalence of CVDs are driving the North American cryotherapy market.
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Key Market Players
The major vendors in the cryotherapy market include Medtronic (Ireland), Galil Medical (US), and CooperSurgical (US). These leading players offer an expansive product portfolio for cryoablation and have a wide geographic presence.
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