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World Is Witnessing A Surge In Adoption Of Cryotherapy Treatment Methods Involving Minimal Invasive Procedures

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BIS RSRCH
World Is Witnessing A Surge In Adoption Of Cryotherapy Treatment Methods Involving Minimal Invasive Procedures

Cryotherapy is based on minimally invasive technologies that are widely used to treat benign and malignant tumors, pain conditions, sports injuries, and tissue damage. Cryotherapy is a method to freeze localized tissue to break them down and thus get rid of the pain or tumor cells.

The increasing prevalence of cancer, growing popularity of fitness, beauty and cosmetic surgeries, along with rising advancements and technological innovations in cryotherapy have fueled the growth of the market. For instance, as per the data by the World Health Organization (WHO), globally, cancer is the second-largest cause of mortality, leading to the death of an estimated 9.6 million people in 2018.

Based on product, the global cryotherapy market is segmented into cryosurgery devices, localized cryotherapy devices, and cryosaunas. The cryosurgery devices are further sub-segmented into epidermal & subcutaneous cryoablation devices, tissue contact probes, and tissue spray probes. The market is currently dominated by cryosurgery devices, as it is a more effective mode of tumor treatment due to higher efficiency and the ability to treat multiple tumors at the same time.

Based on application, the cryotherapy market is segmented into surgical application, pain management, and health & beauty, recovery. The major market share among all the respective segments, in the forecast period, is expected to be of surgical application as it is preferred for the treatment of an increasing number of cancer incidences due to potential benefits.

On the basis of end users, the global market is segmented into hospitals & specialty clinics, and spas. Hospitals and specialty clinics currently account for the major share in the global cryotherapy market owing to improving healthcare infrastructure and an increasing number of patients preferring hospital over other healthcare institutions. The respective segment is also expected to have the fastest growth rate during the forecast period due to rising popularity for cryotherapy-based procedures and improving awareness among people.

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However, unfavorable regulatory scenarios, limited technological expertise, and complexity of cryotherapy procedure, among others, are factors hampering the growth rate of the global cryotherapy market.

Key Questions Answered:

• What are the type of applications and products available within the global cryotherapy market?
• What are the factors acting as the drivers, restraints, opportunities, and challenges in the global cryotherapy market?
• What are the significant developmental strategies opted by the key players in the market?
• What is the expected adoption rate for cryotherapy devices in the next ten years?
• What are the pipeline products within the global cryotherapy market?
• What is the share of major companies operating within the cryotherapy market?
• What is the pricing difference among traditional technologies and cryotherapy technologies used for pain management?
• How is the industry anticipated to evolve during the forecast period of 2020-2030?
• How is each segment of the market expected to grow during the forecast period, and what is the revenue expected to be generated by each of these segments by 2030?
• Which region is expected to grow at the maximum CAGR in the market and what are the factors behind the same?
• What is the patent scenario pertaining to the global cryotherapy market?

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