Why Cryotherapy Market Is So Trending Topic for This Decade? Everybody Wants to Know!

According to a new report published by Allied Market Research, titled, "Cryotherapy Market by product, application and end user: global opportunity analysis and industry forecast, 2021-2030," the global cryotherapy market was valued at $213 million in 2020, and is projected to reach $392 million by 2030, registering a CAGR of 7.5% from 2021 to 2030.

♦ 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
https://www.alliedmarketresearch.com/request-sample/12295

Major Key Market Players -

Impact Cryotherapy,
Cooper Companies (Coopersurgical),
Brymill Cryogenic Systems,
Kriosystem Life,
Erbe Elektromedizin GmbH,
Metrum Cryoflex,
Medtronic Plc,
US Cryotherapy,
Cryoconcepts LP, and
Zimmer Medizinsysteme GmbH.

Covid-19 Scenario:

During the Covid-19 pandemic, governments of various countries put limitations and bans on several medical procedures and elective surgeries. This reduced cryotherapy procedures and demand for cryotherapy equipment.
Moreover, cryotherapy equipment manufacturing companies have been facing issues such as in-person product demonstrations, carrying out production in their facilities at full capacity, and organizing conferences. This leads to reduced sales volumes.

On the basis of product, the cryosurgery equipment segment is the largest contributor to the revenue and is expected to grow significantly during the forecast period. Important factors such as increasing number of minor surgeries and rising health concerns among consumers are expected to boost the market growth. Also, it offers several advantages over traditional surgery including smaller incisions, shorter hospital stays, faster wound healing, less pain and fewer complications, which is driving market growth.

♦ 𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲:
https://www.alliedmarketresearch.com/purchase-enquiry/12295

From the end-user perspective, the hospitals & clinics sector has been a major contributor to revenue and is expected to grow significantly during the forecast period, owing to the large customer base, increase in medical expenses, the increase in the number of diseases and the presence of a supportive management system. In addition, increasing geriatric population, urbanization and industrialization, rising per capita income, and high investment in research and development programs to develop cryotherapy devices or equipment are driving the market growth.

The overall impact of COVID-19 remains negative on cryotherapy market, as decline in number cryotherapies. This therapy requires the routine use of reusable therapy equipment for treatment which can be infected with SARS COV-2 virus. Furthermore, dermatologist often use cryotherapy on high-risk area such as like nasal, perioral This increases the risk of disease transmission where coronavirus particle is more likely to be aerosolized. This increases the risk of disease transmission. In addition, guidelines issued by governments to provide surgery and therapy services to patients who require urgent attention and postpone other therapies and surgeries if not urgent has led to decline in demand for cryotherapy products.

♦ 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧:
https://www.alliedmarketresearch.com/request-for-customization/12295

In 2020, North America accounted for the major share in the cryotherapy market, owing to increase in geriatric population, rise in R&D investments in developments of cryotherapy equipment, and devices for various chronic disease, and supportive government initiatives directed to increase healthcare expenditure are the major factors that drive growth of the cryotherapy market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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