Cryotherapy Market - Exponential Growth by Size, Share, and Future Plans Analysis

 According to a new report published by Allied Market Research, titled, “Cryotherapy Market by product, application and end user: global opportunity analysis and industry forecast, 2021–2030," the global cryotherapy market was valued at $213 million in 2020, and is projected to reach $392 million by 2030, registering a CAGR of 7.5% from 2021 to 2030.

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Covid-19 scenario:

On January 30, 2020, the World Health Organization (WHO) declared the outbreak of COVID-19 a public health emergency of international concern. COVID-19 has affected approximately 210 countries around the world. Due to the COVID-19 pandemic, governments around the world have announced nationwide lockdowns and social distancing measures to prevent the collapse of the health system.

Major Key market players -

Cryotherapy,
Brymill Cryogenic Systems,
Cooper Companies (Coopersurgical),
Erbe Elektromedizin GmbH,
Kriosystem Life,
Medtronic Plc,
Metrum Cryoflex,
Cryoconcepts LP,
US Cryotherapy, and
Zimmer Medizinsysteme GmbH.

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The coronavirus (COVID-19) was discovered at the end of December in the Hubei province of the city of Wuhan in China. This disease is caused by a virus, namely the severe respiratory disease coronavirus 2 (SARS-CoV-2), which is transmitted from person to person. The lockdown, government orders and the continuous rise in the number of infections across the country have caused a full financial impact on hospitals and clinics. A large number of hospitals and clinics have seen a decrease in patient visits amid COVID-19, reducing their interactions with clients.

On the basis of product, the cryosurgery equipment segment is the largest contributor to the revenue and is expected to grow significantly during the forecast period. Important factors such as increasing number of minor surgeries and rising health concerns among consumers are expected to boost the market growth.

In 2020, North America is a major part of the cryotherapy market, which is increasing the geriatric population, increasing R&D investment in the development of cryotherapy equipment and devices for various chronic diseases, and government plans to -supporting increasing health spending is the main driver of the growth. of the cryotherapy market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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