The global cryotherapy and cryosurgery market size is expected to reach XX USD billion by 2030 from XX USD billion in 2022. The global market is expected to grow with a CAGR of XX.X% from 2023 - 2030.
Cryotherapy is a medical procedure used for treating various skin diseases, used for removing moles on the skin. Also, used for treating patients suffering from different types of cancer, injuries, heart related diseases and more. Cryotherapy uses extreme cold temperature to eradicate infectious diseases cells during the minimally invasive procedure.
Cryosurgery is a part of cryotherapy, used for removing tissues causing diseases. Both cryotherapy and cryosurgery are used on low temperatures.
In 2022, nearly 19,292,789 new cancer cases were diagnosed globally, as per Globocan estimates. Also, according to Centers for Disease Control and Prevention, more than 63.0 million adults are likely to suffer from arthritis in the U.S. and the number is projected to reach 78.0 million by end of 2045.
The World Health Organization declared a pandemic as the novel coronavirus (COVID-19) has spread across the world affecting millions of people. In 2022, millions of people lost their lives. Nations imposed lockdown to prevent the spread of the infection. The novel COVID-19 has created negative impact on the cryotherapy and cryosurgery market. During the 2022 lockdown, patients with skin diseases, cancer and other diseases gave a pause to their visit to hospital. Medical professionals are at forefront combating against the coronavirus. After the lockdown is uplifted, patients resumed their visit. Due to transportation ban, devices required during the treatment were not manufactured. Due to no workforce the manufacturing and production came to halt. Later, everything has resumed and by the end of 2022 and start of 2022, the market has begun to see an increase.
Technological Advancements - The cryotherapy treatment has become an important choice for treating patients using advanced technologies which makes the professionals duty easy.
Awareness - People are more aware and having sound knowledge about skin related diseases and the available treatment and rising cancer cases and cancer treatments.
The market players Launch novel cryotherapy devices with advanced technologies and the devices are approved to be released into the market are the factors prominently pushing the market to grow further.
High Cost - The cost associated with the cryotherapy and cryosurgery treatment is too expensive, where normal people can’t afford the cost.
Adverse Side-Effects - With the use of therapy and surgery, people/patients face some of the major hurdles.
Market Segmentation Analysis
The research report has been segmented and sub-segmented as follows:
Cryogenic Chamber Therapy
Cryosurgery type of cryotherapy segment has dominated the market during 2022. The factors owing to the segment growth are due to rising demand for minimally invasive cryosurgery for treating various diseases like cancer, etc.
Icepack therapy and cryogenic chamber therapy segments witness strong growth rate throughout the forecasting period. Icepack therapy uses cold temperature to reduce the blood flow and assist in reducing the pain and swelling.
Chamber therapy uses low temperatures for relaxation and beauty treatments. The temperature used around -60C to -110C.
Dipstick Applicator Type of Cryogen
Based on the application techniques, cryo probe is likely to dominate the cryotherapy and cryosurgery market.
Argon gas and liquid nitrogen segments are expected to lead the type of cryogen for cryosurgery market with the highest CAGR with a quick pace during the forecast period.
Other General Surgery
Based on the application analysis, the cancer therapy segment is likely to lead the cryotherapy and cryosurgery market.
Skin disease segment is in second position in leading the market with the highest share during the forecast period. The segment growth depends upon advancements in technology.
Cryogun/ Spray gun
Gas Pressure Gauge
Liquid Dewar/Gas Cylinder
Based on the device type, cryogun/spray gun segment is dominating the cryotherapy and cryosurgery market during the forecast period. The dominance of the segment is expected to maintain over the timeline period. High cancer occurrence and skin related issues are the major elements escalating the market growth.
This report is analyzed based on the following regions:
1. North America
2. Asia Pacific
4. Rest of the World
Geographically, North America is likely to hold the largest share in the cryosurgery and cryotherapy market and dominates globally throughout the forecasting period. Factors responsible for the region’s market growth are growing cryotherapy familiarity, increasing cancer happenings and growing cardiovascular diseases. United States and Canada are the major contributors for cryotherapy and cryosurgery market growth. The United States leads the market with major revenue share across the region. The market growth in the U.S is seeing highest growth due to rising cryotherapy popularity among fitness and sports athletes. The Canadian cryotherapy and cryosurgery market is witnessed to grow with highest CAGR rate. However, the early adoption of cryosurgery/cryoablation for treating different cancer conditions, as per the Canadian Cancer Society. The market in this region owes to huge healthcare expenditure spent by the governments of two countries and well-established healthcare infrastructure.
European cryotherapy and cryosurgery market stands second both in terms of revenue and market share. The growth in the region is due to rising healthcare domain and easy approval of new and innovative products and devices used for cryotherapy and surgery. For example, the European health officials approved the use of CSA Medical’s system for cryotherapy for treating COPD patients suffering from chronic bronchitis.
However, the cryotherapy and cryosurgery market in Asia-Pacific is expected to have prominent growth rate during the forecast period. The regions market growth owes to presence of highly targeted population and growing measures taken by key players to get access to new products.
Latin America and Middle East & African are likely to have constant and sluggish growth rate in the cryotherapy and cryosurgery market.
Cryotherapy and Cryosurgery Market Players
Brymill Cryogenic Systems
Metrum Cryoflex Sp. z oo, Sp.
ERBE Elektromedizin GmbH
Special Medical Technology Co., Ltd
Mectronic Medicale S.r.l.
NOTABLE HAPPENINGS IN THE GLOBAL CRYOTHERAPY AND CRYOSURGERY MARKET IN THE RECENT PAST:
On May 08, 2022, CryoConcepts, LP received FDA clearance for two new patent pending, cryosurgical devices for the physician’s office market.
On August 31, 2017, TrueFreeze spray cryotherapy system of CSA Medical, an Endoscopic cryo-ablation company, has received FDA clearance. The spray cryotherapy is used for patients with Barrett’s esophagus with low grade dysplasia.
In June 2022, Cryo Treq, a handheld cryo-surgery device launched by a U.S based ophthalmic device manufacture known as Beaver Visitec International (BVI). The device was launched in the European market and the device is used to treat retinal tears and for detaching.
In April 2022, Cerene cryotherapy device has won FDA approval for treating heavy menstrual bleeding in women. The device belongs to Channel Medsystems, Inc. The approved device delivers cold therapy to freeze the lining of uterus to prominently decrease future menstrual bleeding.
Galil Medical launched ICEfx cryoablation system, an improvement to already existing Visual ICE system, in September 2018. The system features an advanced needle platform with helium-free thaw capability.
Impact Cryotherapy, a leading cryosaunas manufacturer and best seller in the U.S has signed pacts with multiple sports associations.
Cryotherapy and Cryosurgery Market - Forecast (2021 - 2026)
Chapter 1. Global Cryotherapy and Cryosurgery Market – Scope & Methodology
1.1. Market Segmentation
1.3. Research Methodology
1.4. Primary Sources
1.5. Secondary Sources
Chapter 2. Global Cryotherapy and Cryosurgery Market – Executive Summary
2.1. Market Size & Forecast – (2021 – 2026) ($M/$Bn)
2.2. Key Trends & Insights
2.3. COVID-19 Impact Analysis
2.3.1. Impact during 2021 - 2026
2.3.2. Impact on Supply – Demand
2.3.3. Impact on Production Cost
2.3.4. Impact on Supply Chain
Chapter 3. Global Cryotherapy and Cryosurgery Market – Competition Scenario
3.1. Market Share Analysis
3.2. Product Benchmarking
3.3. Competitive Strategy & Development Scenario
3.4. Competitive Pricing Analysis
3.5. Supplier - Distributor Analysis
Chapter 4. Global Cryotherapy and Cryosurgery Market Entry Scenario
4.1. Case Studies – Start-up/Thriving Companies
4.2. Regulatory Scenario - By Region
4.3 Customer Analysis
4.4. Porters Five Force Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Powers of Customers
4.4.3. Threat of New Entrants
4.4.4. Rivalry among Existing Players
4.4.5. Threat of Substitutes
Chapter 5. Global Cryotherapy and Cryosurgery Market – Landscape
5.1. Value Chain Analysis – Key Stakeholders Impact Analysis
5.2. Market Drivers
5.3. Market Restraints/Challenges
5.4. Market Opportunities
Chapter 6. Global Cryotherapy and Cryosurgery Market – By Type of Cryotherapy
6.2. Icepack Therapy
6.3. Cryogenic Chamber Therapy
Chapter 7. Global Cryotherapy and Cryosurgery Market – By Application Technique
7.1. Spray Technique
7.2. Dipstick Applicator Type of Cryogen
7.3. Cryo Probe
7.4. Thermo-Couple Device
7.5. Forceps Technique
Chapter 8. Global Cryotherapy and Cryosurgery Market – By Type of Cryogen for Cryosurgery
8.1. Liquid Nitrogen
8.2. Carbon dioxide
8.4. Dimethyl ether-propane
Chapter 9. Global Cryotherapy and Cryosurgery Market – By Application
9.1. Cancer Therapy
9.2. Cardiovascular Disease
9.3. Skin Disease
9.4. Gynaecological Disease
9.5. Other General Surgery
Chapter 10. Global Cryotherapy and Cryosurgery Market Cryotherapy and Cryosurgery Market, By Device Type
10.1. Cryogun/ Spray gun
10.2. Gas Pressure Gauge
10.5. Liquid Dewar/Gas Cylinder
Chapter 11. Global Cryotherapy and Cryosurgery Market , By Geography – Market Size, Forecast, Trends & Insights
11.1. North America
11.2.7. Rest of Europe
11.3. Asia Pacific
11.3.2. South Korea
11.3.5. Australia & New Zealand
11.3.6. Rest of Asia-Pacific
11.4. Rest of the World
11.4.1. Middle East
11.4.3. South America
Chapter 12. Global Cryotherapy and Cryosurgery Market – Company Profiles – (Overview, Product Portfolio, Financials, Developments)
12.1. Company 1
12.2. Company 2
12.3. Company 3
12.4. Company 4
12.5. Company 5
12.6. Company 6
12.7. Company 7
12.8. Company 8
12.9. Company 9
12.10. Company 10
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