Cryotherapy Devices Market to witness Impressive Global Growth in Production-Consumption Ratio through 2024

Global Cryotherapy Devices Market
Cryotherapy is also called as cryosurgery. Cryotherapy is use of freezing agents such as carbon dioxide, liquid nitrogen, freon to freeze and treat the lesions such as tans (skin), moles and prostate cancer. In cryotherapy, a probe is inserted into the tissue next to the affected nerve. The temperature of the probe decreases to very cold temperatures and effectively freezes the nerve. The freezing inactivates the nerve, as a result, painful nerve irritation is relieved. Cryotherapy is a relatively safe and effective means of treating localized nerve irritation.

Globally cryotherapy devices market is mainly driven by growing use of cryotherapy in treating various types of cancer and musculoskeletal conditions, such as arthritis, rheumatic conditions and fibromyalgia. In addition, increase in application of cryotherapy devices in dermatology for beauty treatments is expected to boost the cryotherapy devices market. Furthermore, cryotherapy carries limited side effects and thus facilitates faster recovery compared to conventional procedures. However, some common side effects include erythema, pain and hypopigmentation and lower effectiveness of the treatment are the major factors expected to hinder the cryotherapy devices market growth.

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Global cryotherapy devices market is segmented based on type of device, application and end-user

Based on type of device, cryotherapy devices market is segmented into
Cryogun
Cryoprobes
Gas cylinders
Others

Based on application, cryotherapy devices market is segmented into
Oncology
Cardiology
Dermatology
Pain management
Others

Based on end-user, cryotherapy devices market is segmented into
Hospitals
Ambulatory Surgical Centers
Others

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Cryotherapy devises market expected to have lucrative growth rate during forecast period owing to increase in demand for treatment options for various types of cancer. As per World Health Organisation (WHO), cancer mortality in the developing countries is expected to reach 6.7 Mn by 2015. Similarly, American Cancer Socity estimates that about 12,280 new invasive cervical cancer will be diagnosed in 2018. This suggests that there is huge demand exists for cancer therapy options across the globe. Market players are focusing on advanced product designing and development to strengthen their product to enhance their sales revenue in cryotherapy devices market. For instance, in October 2015, Galil Medical launched two cryoablation (killing of cancer cells with extreme cold) products, IcePearl 2.1 CX and IceFORCE 2.1 CX Cryoablation Needles.

Geographically cryotherapy devices market segmented into following regions viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America and Europe are expected to show notable growth owing to well-developed healthcare sector with latest technologies. In addition, trained healthcare professionals, and favourable reimbursement policies are also contributing to the growth of cryotherapy devices market in these regions. Asia-Pacific is expected to show fastest growth rate due to untapped opportunities, high patient cognizance of cryosurgery in cancer and skin treatments coupled with the rapidly developing healthcare infrastructure in the emerging Asia-Pacific countries. In addition fewer adverse effects, reduced cost of the procedures, and increase in accessibility of the cryotherapy treatment in Asia-Pacific region is expected to contribute toward the growth of the sector.

Some of the players in cryotherapy devices market are Cynosure, Inc.(US), MICHELSON DIAGNOSTIC (UK), Cryonic Medical (France), ZAMAR CARE (Croatia), Zimmer Medizin Systeme GmbH (Germany), MECOTEC GmbH (Germany) and Hakomed Italia (Italy) to name a few.

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In June 2018, Channel Medsystems received CE Mark for its Cerene Cryotherapy Device (Cerene device) to market in Europe

In June 2015, BTG Plc acquired Galil Medical, a leading provider of cryotherapy products, to expand its product portfolio and R&D

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