Cryotherapy Market is anticipated to grow at a CAGR of approximately 8.9% from 2019 to 2030.
Market Industry Reports (MIR) has published a new report titled “CryotherapyMarket – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the global cryotherapymarket accounted for US$ 196 million in 2019. It is anticipated to grow at a CAGR of approximately 8.9% from 2019 to 2030.
This significant market growth can be attributed tothe increasingadoption of minimally invasive surgical procedures resulting in fewer scars, less pain, and fewer complications.Also,rising incidences of sports injuries, cardiac diseases & cancers, arthritis, malignant & benign tissue damage, andrheumatoid conditions are some of the key factors thatwillboostmarketgrowth.Moreover, the increasing popularity of beauty, fitness, and wellness industries will also propel marketgrowth.
Various technological innovations &advancements; in cryotherapy equipment, including cryosurgery units and accessories, will further contribute to market growth. Cryotherapy is widely used in the treatment of inflammation, rheumatoid arthritis, and pain management, as well as general beauty & wellness therapies. Additionally, the increasing demand for minimally invasive therapies is generating immense opportunitiesfor market growth globally. Moreover, rising cases of skin diseases, as well as tumors within the liver, kidneys, bones, lungs, breasts,and others, are the major factors that willfurther drive growth of the cryotherapy market.
The growing popularity of cryotherapy in treating various types of cancers and musculoskeletal conditions, such as rheumatic conditions, arthritis, and fibromyalgia, is another major factor that will facilitate market growth. The growing popularity of this procedure in dermatology for beauty treatments will alsoboost the cryotherapy market.
Browse key industry insights spread across 180 pages with market data tables & figures & charts from the report, Cryotherapy Market by Product (Localized Cryotherapy Devices, Cryosurgery Devices, and Cryochambers & Cryosaunas), Application (Pain Management, Surgical Applications, and Recovery, Health, &Beauty; Applications), End Users (Hospitals & Specialty Clinics, Spas & Fitness Centers, and Cryotherapy Centers)- Global Analysis & Forecast 2020-2030 in detail along with the table of contents:https://www.marketindustryreports.com/cryotherapy-market/293
Cryotherapy remains limited to very few geographic regions. The extent of cryotherapy practices is majorly limited to North America and Europe, with few other countries like Japan, China, and Australia witnessing advances in this field, mainly due to lack of awareness. This therapy is safe, lesspainful and highly recommended as compared to invasive surgical treatments.Moreover, the lack of accessibility to advanced cryotherapy procedures in emerging countries may hinder the market growth during the forecast timeframe.
North America is estimated to account for the highest CAGR in the cryotherapymarket over theforecast period.The presence of a well-established healthcare systemand massive healthcare expenditure by government in the region will boost marketgrowth. Moreover, theavailability of cryotherapy products is expected tocreate lucrative growth opportunitiesinthis region. Furthermore, the presence ofadependablehealthcare infrastructure and high per-capita expenditure in the U.S.will drive the application of cryogenic gases for therapeutic purposes. The availability of cryogens, cryoprobes, and other devices isexpected to further propel thedemand.TheAPAC region is expected to witness significant growth in the coming years owing factors such as increasing awareness regarding the use of cryotherapy, observed market growth, latent market potential, and constant growth in healthcare expenditure.
The prominent players in the global cryotherapy market are Medtronic Plc, Galil Medical, Cooper SurgicalInc, Zimmer Medizin System GmbH, METRUM CRYOFLEX, Brymill Cryogenic Systems, ErbeElektromedizin GmbH, CryoConcepts, US CRYOTHERAPY, Kriosystem-Care and others.
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