Dramatically rising skin diseases due to inappropriate lifestyle is causing rise in skin cancer instances. Although skin cancer is somewhat treatable, it still attracts a high amount of suffering and problems for the patients. Cryosurgery and cryotherapy is the immediate treatment methods for skin related issues, and the market for the same was evaluated at $1.95 billion as of 2018. As per the IndustryARC market research report, the global cryotherapy market and cryosurgery market collectively is poised to grow at a compound annual growth rate (CAGR) of 6.90% during the forecast period of 2019 to 2025.
The report is titled “Cryotherapy and Cryosurgery Market: By Type (Cryosurgery, Ice Pack Therapy, Cryogenic Chamber Therapy) Technique (Spray, Forceps, Cryo Probe, Others) Device (Cryogun, Probes, Cryogen, Others) Application (Cancer Therapy, Skin Disease) & Geography – Forecast (2019 - 2025).” This report is inclusive of company overview, trends, growth drivers, financial overview, business strategies, and recent developments.
Global Cryotherapy and Cryosurgery Market: Leading Segments
By application, the ice pack therapy is a highly preferred application in the cryotherapy and cryosurgery market, growing at a CAGR of 5.80% during the aforementioned forecast period. The ice pack is applied to the affected areas which further freezes the cancer cells, and a scab is formed which gradually falls off with the cancer cells. This application is prominent among early cancer stages, and it dispenses precise treatment. Consciously, stagnant ill-awareness towards skin cancer will increment the application of ice pack therapy, inducing profits in the global cryotherapy and cryosurgery market.
North America is the most rewarding region in the global cryotherapy and cryosurgery market. As per the market report, the region was evaluated to grab 34% of the total cryotherapy and cryosurgery market share in 2018. This hefty share is due to the presence of market leaders in the region and well-established healthcare infrastructure. Additionally, rising investments in research and development departments are responsible for the massive North America cyotheraphy market share.
Global Cryotherapy and Cryosurgery Market Industry Analysis
According to the World Health Organization, cancer is the second leading cause of death globally, and it is accountable for around 9.6 million deaths in 2018, among these, skin cancer was responsible for 1.04 million deaths. Cryotherapy uses imaging guidance and argon or nitrogen gas to create intense cold therapy to destroy diseased tissues along with cancer cells. It is an actionable technique to handle issues such as moles, skin tags, warts, solar keratoses, Morton’s neuroma, and other skin diseases. Cryosurgery is also defined as partial body cryotherapy (PBC), because it treats the cancer cell affected areas only. Globally, changing lifestyle affected by long working hours and stressed life has increased the possibility of skin diseases among the population. Tackling such a situation mandates advanced and accurate skin treatment therapies, thereby increasing demands in the global cryotherapy and cryosurgery market.
Cryotherapy and Cryosurgery Market Trends
- CryoPen Surgical System: CryoPen is an advanced state-of-art technology introduced in the field of cryosurgery. It uses linear compression cooling technology limiting the manoeuvre of dangerous cryogenic liquids and gases. The technology possesses pen-point precision and constant freezing temperature to reduce the risk of skin burns. This initiation in the cryosurgical segment of the medical field is gaining popularity in both the developing and developed nation owing to its safe and easy operation.
- Cryoabalation: Cryoabalation is used as a promising method in selected tumors, palliative indication, and oligometastatic patients. The process involves advantages such as its anesthesiologic, effects of cold, unique visualization, and characteristic imaging features. The cryotherapy and cryosurgery market is relying on such innovative and efficient methods for the treatment of cancer cells.
Global Cryotherapy and Cryosurgery Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the cryotherapy and cryosurgery market are Cryotherapy, Galil Medical Inc., HealthTronics, Inc., KryoLife Inc, Medtronic, GRAND Cryo LLC , Erbe USA, Incorporated, Wallach Surgical Devices, and MedGyn Products, Inc.
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The global cryotherapy and cryosurgery market report is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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