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.

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
• Other
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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 Organization (WHO), cancer mortality in the developing countries is expected to reach 6.7 Mn by 2015. Similarly, American Cancer Society estimates that about 12,280 new invasive cervical cancer will be diagnosed in 2017. 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, Ice Pearl 2.1 CX and Ice FORCE 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 favorable 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 Medizing System GmbH (Germany), MECOTEC GmbH (Germany) and Hako med Italia (Italy) to name a few.

In June 2017, Channel Med systems 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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