Pain Management Segment Dominates Cryosurgery Devices Market - Musculoskeletal Disorders Propel Growth

DUBLIN, Aug. 14, 2023 /PRNewswire/ -- The "Cryosurgery Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.

The global Cryosurgery Devices Market is projected to experience substantial growth with a CAGR of over 6.5% during the forecast period. The market was significantly impacted by the COVID-19 pandemic, as the demand for cryosurgery and cryotherapy surged in response to the post-COVID symptoms among infected patients.

Cryotherapy has emerged as an innovative treatment for various post-COVID symptoms, including loss of taste/smell, fatigue, and pain. Its effectiveness in reducing inflammation, improving blood flow, relieving pain, and increasing energy among COVID-19-infected patients contributed to the market's growth during the pandemic. The demand for cryosurgery devices is also expected to remain high, given the focus on treating chronic diseases in the post-pandemic period.

The prevalence of chronic disorders, such as cardiovascular diseases and skin disorders, is increasing globally. For example, coronary (ischemic) heart disease affected an estimated 200 million people, peripheral arterial (vascular) disease affected 110 million, stroke affected 100 million, and atrial fibrillation affected 60 million in 2021. Additionally, musculoskeletal conditions have become a leading cause of disability worldwide, affecting approximately 1.71 billion people. Such rising prevalence is driving the demand for cryosurgery devices and contributing to market growth.

Notable product launches by key market players are further fueling the market's growth. For example, Pregna International launched a CO-2-based cryotherapy device for fighting cervical cancer, and ArtiCure Inc. received FDA clearance for cryo nerve block therapy for adolescent patients. However, stringent regulatory guidelines and reimbursement issues may restrain the market's growth.

The Cryosurgery Devices Market is segmented based on various factors, with the pain management segment expected to hold a significant share. Cryosurgery devices are widely used in pain management due to their high efficacy in reducing chronic pains associated with musculoskeletal disorders, cancer, and neuropathy. The increasing prevalence of these pain-related disorders is driving the demand for cryosurgery devices and contributing to segment growth.

North America is anticipated to hold a substantial share of the market due to the increasing burden of chronic disorders and advanced healthcare infrastructure. The region's high demand for minimally invasive surgery and the presence of key market players with frequent product launches are also driving factors.

The Cryosurgery Devices Market is moderately fragmented and competitive, with Harvard Bioscience Inc., AtriCure Inc., Brymill Cryogenic Systems, Cardinal Health, CryoConcepts, Cortex Technology, Bovie, and Cooper Surgical being some of the leading companies in the market.

As the market continues to witness growth and innovations, stakeholders, businesses, and investors should closely monitor these trends and opportunities to make informed decisions.

A selection of companies mentioned in this report includes

• ArtiCure Inc.
• Bovie
• Brymill Cryogenic Systems
• BVM Medical
• Cardinal Health
• CryoConcepts
• Cortex Technology
• Cooper Surgical
• Harvard Bioscience Inc.
• Premier Medical Co.
• Pentax Medical
• Cryo Innovations

For more information about this report visit https://www.researchandmarkets.com/r/ofj1

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