March 31, 2020

Cryotherapy Devices Market will be growing at a CAGR of 9.4% during the forecast period from 2018 to 2026

The latest market report published by Credence Research, Inc. “Cryotherapy Devices Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global market for cryotherapy devices was valued at US$ 3,126.2 million in 2017 and is expected to reach US$ 7,089.2 million by 2026, increasing to CAGR by 9.4 per cent from 2018 to 2026.

Market Insights

The global market for cryotherapy devices is expected to progress towards a healthy CAGR, taking into account key factors such as increasing demand for minimally invasive surgical procedures for the treatment of conditions such as cancer and cardiovascular disease and increasing preference for asthetic and overall well-being solutions. The technological evolution of cryotherapy devices is also a key factor attributed to the driver of this market. The growing popularity of cosmetic procedures, wellness and fitness is also a major driver of the global market for cryotherapy devices.

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The prevalence of cervical cancer, skin cancer, prostate cancer, and complications associated with sun damage to the skin is increasing rapidly. Cryosurgery has advantages for the treatment of these conditions, such as fewer complications, reduced risk of infection, lower blood loss and faster recovery. This also avoids the need for repeat hospitalization and therefore reduces the overall cost of treatment. This modality is also considered beneficial for patients who can not be selected for open and highly invasive surgery, particularly for senescent patients. As a result, with an increase in the number of cancer cases worldwide, the market for cryotherapy devices will increase accordingly.

Based on product types, the global market for cryotherapy devices is divided into cryosurgery devices, whole body cryotherapy devices and partial body cryotherapy devices. Among these, the revenue share of cryosurgery equipment is the highest. The early introduction of cryosurgery devices on the market and their proven improved performance are key attributes driving the dominance of this segment. Similarly, among the key applications considered for cryotherapy devices, the demand for these devices is the highest in surgical applications. Oncology is the primary surgical area where cryosurgery devices are increasingly used. In addition, with the growing demand for asthetic and wellness solutions increasing globally, the demand for cryosurgery chambers will also rise accordingly.

Geographically, North America is the largest market for cryosurgery equipment. Greater purchasing power, better refunds and a high level of awareness are key factors that support the dominance of the North American market. On the other hand, the Asia-Pacific market will continue to grow at the fastest rate during the forecast period. The fast-growing medical tourism industry, the increasing prevalence of cancer and the growing pool of geriatric patients are driving the growth of the Asia Pacific market. Other key factors driving the Asia-Pacific market are increasing awareness and skills of healthcare professionals, and increasing disposable incomes pave the way for increased demand for asthetic and well-being solutions. The global market for cryotherapy devices is characterized by the presence of a number of market players making this sector fragmented in nature. Multinational giants such as CooperSurgical and Medtronic specialize in the production of cryosurgery devices while maintaining a strong foothold in international markets. Whereas for products such as complete and partial body cryotherapy devices, the presence of local and niche players is very prominent.

The Global Cryotherapy Devices Market is segmented into:

Key Market Movements:

  • Consistently increasing prevalence of chronic conditions associated with heart and cancer
  • Increasing demand for minimally invasive cryosurgical intervention in geriatric patients
  • Growing demand for cryosurgery in asthetic procedures, particularly treating skin lesions and complications associated with sun damage
  • Increasing disposable incomes in emerging markets of Asia Pacific, paving way for adoption of novel cryotherapy solutions such as cryochambers

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 [Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Report Scope by Segments

By Type

 • Cryosurgery Devices

 • Contact Probes

 • Spray Probes

 • Epidermal and Subcutaneous Cryoablation Devices

 • Whole Body Cryotherapy Devices (Cyrochambers)

 • Partial Body Cryotherapy Devices

 By Application Type

 • Pain Management

 • Surgical Applications

 • Dermatology

 • Oncology

 • Cardiology

 • Others (Beauty, Health and Wellbeing)

By Geography Segment

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

Key questions answered in this report

  • What is the forecasted size of the global cryotherapy devices market in 2026?
  • Will the dominance of the cryosurgery devices segment challenged by any other product type?
  • Which are the key driving factors contributing to the dominance of oncology surgical devices segment?
  • Will the rapidly growing Asia Pacific market surpass the robust North America market within the forecast period?

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