Cryotherapy Devices Market: By Therapy Type (Cryogun, Cryoprobes, Gas cylinders, Others), By Component (Cryogun, Cryo Probes, Gas Cylinders, Localized Cryotherapy Devices, Cryochambers & Cryosaunas, Others) By Application (Oncology, Cardiology, Dermatology, Pain management, Others), By End User (Hospitals, Ambulatory Surgical Centers, Others) and Geography

Cryotherapy Devices Market size was valued at USD 269.0 million in 2022 and is expected to reach USD 491.8 million by 2029, at a CAGR of 9.0% during the forecast period 2023 to 2029. 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. 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 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.