The dermatology cryosurgery units market is anticipated to flourish at a healthy CAGR of 7.0% between 2023 and 2033. The market is expected to hold a market share of USD 308.6 million by 2033, while the market is likely to reach a value of USD 156.5 million in 2023.
| Attributes | Details |
|---|---|
| Dermatology Cryosurgery Units Market CAGR (2023 to 2033) | 7.0% |
| Dermatology Cryosurgery Units Market Size (2023) | USD 156.5 million |
| Dermatology Cryosurgery Units Market Size (2033) | USD 308.6 million |
The market is expected to grow significantly in the coming time owing to the expansion of the beauty and aesthetics sector. Other factors contributing to the market growth include increasing sports injuries, cardiac diseases, and technological development in the cryosurgery market.
Ongoing developments in the industry are expected to benefit the market in the forecast period. For instance, in 2019, Medtronic collaborated with Phillips to boost the sale of products on behalf of Phillips to offer an integrated image guidance solution for the cryoablation process for the better treatment of paroxysmal atrial fibrillation. Such factors are expected to augment the market size in the forecast period.
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The global demand for dermatology cryosurgery units is projected to increase at a CAGR of 7.0% during the forecast period between 2023 and 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 6.5%.
Over the years, the upward trend of cryosurgery among athletes fostered the demand for dermatology cryosurgery units. Recent advancements in cryotherapy procedures and the growing demand for aesthetic skin are among the foremost factors nourishing the market for dermatology cryosurgery units.
Treatment of skin disorders nowadays is of utmost importance as people are more anxious to improve the appearance of affected skin. As surgical treatment offers an effective and efficient solution, it is most universally preferred over dermatological treatment methods. The usage of handheld devices with top-class benefits combined with rising patient convenience and easy reimbursement processes is a key factor driving the overall growth of the dermatology cryosurgery unit's market.
Increasing Preference for Minimally Invasive Surgery & Rises Cases of Skin Disorders to Act as Prominent Growth Drivers
Cryotherapy is gaining significant traction owing to various technological developments over the past years, which is projected to benefit the dermatology cryosurgery units market in the coming time. Growing incidences of skin diseases like acne, eczema, acne, rosacea, vitiligo, and hives are expected to increase the demand for dermatology cryosurgery units. Also, the rise in healthcare expenditure is another factor likely to benefit the industry growth in the coming time.
Moreover, growing acquisitions among players are expected to boost the market growth notably. For instance, in August 2020, Cryoport, Inc. acquired CRYOPDP in an all-cash transaction of about USD 56 million. CRYOPDP is a French company that provides temperature-controlled logistics solutions for cell & gene therapy and clinical research communities. The market is expected to augment in the forecast period due to the aforementioned factors.
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Associated Side Effects of Cryosurgery May Hamper the Market Growth
A need for more awareness regarding dermatology cryosurgery is expected to be the most significant factor restraining the market growth. The developing region, like APAC, is yet to be exposed enough to dermatology cryosurgery. Dermatology cryosurgery is majorly limited to Europe and North America. Limited access to cryotherapy and lack of awareness are expected to restrain the market growth during the forecast period significantly.
However, increasing focus on expanding the application of cryotherapy is expected to act as a significant opportunity for the market and counter the restraining factors. It is minimally invasive and drug-free, so cryotherapy is being analyzed to treat various other medical conditions.
| Countries | Revenue Share % (2022) |
|---|---|
| United States | 38.4% |
| Germany | 4.9% |
| Japan | 4.4% |
| North America | 40.6% |
| Europe | 26.6% |
| Countries | CAGR % (2023 to 2033) |
|---|---|
| China | 9.5% |
| India | 8.6% |
| United Kingdom | 6.9% |
Robust Healthcare Infrastructure & Presence of Aesthetic Clinics in the Region to Fuel Market Growth
According to the analysis, North America is expected to dominate the global dermatology cryosurgery units market during the forecast period. In 2022, the region secured 40.6% of the global market share.
Domination of the market can be attributed to the increasing prevalence of cancer, rising sports and physical activity, and the growing prevalence of CVDs are expected to drive the market in the region. Among all, the United States and Canada are predicted to make the maximum contribution to strengthening the market. The Canadian Cancer Society motivates the adoption of cryosurgery for the treatment of several cancer conditions.
Other factors propelling the market growth are recent developments and increasing partnerships in cryogenic projects by prominent players. For instance, in July 2022, the Quantum Economic Development Consortium (QED-C), managed by SRI International, in strategic partnership with the United States Department of Commerce's National Institute of Standards and Technology (NIST), today announced a USD 2.3 million research program to advance cryogenic technologies that may enable innovation in quantum information science and technology (QIST).
Adoption of Advanced Technologies by Prominent Manufacturers to Elevate Demand for Cryosurgery Units
According to an analysis, Europe held the second-leading market share during the forecast period. In 2022, the region accumulated 26.6% of the global market share. United Kingdom & Germany are the prominent contributors to the regional revenue share.
The regional market's growth can be attributed to the growing awareness of cryosurgery and the adoption of advanced technology in the healthcare sector. Also, players' contribution is projected to play an important role in driving the regional market growth. For instance, Kriosystem Life was the official supplier of cryotherapy devices for The World Games 2017, held in Poland. Owing to the factors above, the market is expected to grow notably in the forecast period.
Rising Cases of Skin Cancer & Adoption of Advanced Skincare Treatments May Expand the Regional Market Growth
As per the recent analysis by Future Market Insights, Asia Pacific is anticipated to be the highest-growing region over the forecast period. The growth in the Asia Pacific may primarily be driven by higher adoption of cryoablation for cancer treatment as well as the advantages offered by this technique over traditional surgery in the region. The presence of prominent regional manufacturers is another factor boosting the market growth.
CryoPen, Inc., is a leading cryosurgical innovator, designing, developing, marketing, and selling its CryoPen Surgical System to primary care physicians, family practice physicians, general practice physicians, obstetrics and gynecologists, pediatricians, internists, and dermatologists. The CryoPen Cryosurgical System is the most advanced, state-of-the-art technology in cryosurgery. This treatment has minimal scarring and no need for anesthetic and is estimated to augment the region's demand for dermatology cryosurgery units.
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| Category | By Product Type |
|---|---|
| Leading Segment | Hand Held |
| Market Share (2022) | 57.7% |
| Category | By End User Type |
|---|---|
| Leading Segment | Dermatology Clinics |
| Market Share (2022) | 32.1% |
The global Dermatology Cryosurgery Units market is segmented into product type, end-user, and regions. Based on the end-user segment, the aesthetic clinic’s subtype captures the highest volume of market share in the global Dermatology Cryosurgery Units. Advancements in cryotherapy technology for the treatment of various diseases and disorders increase the demand for cryosurgery and related products in aesthetic clinics.
Various clinics started offering cryotherapy-based treatment. For instance, in October 2021, CARE Innovative Solutions announced the launch of the Slynarski Knee Clinic, which provides computer-controlled cryotherapy solutions for knee-associated treatments. Healthcare providers successfully treat many problems with cryotherapy. Most skin conditions treated with cryotherapy do not require any special care after treatment.
As dental care worldwide experiences key advancements, prominent equipment and service providers are spawning rapidly across key geographies. Leading start-ups seeking to provide highly streamlined and equitable skincare access are emerging across potential growth regions, especially in the Asia Pacific.
The market is valued at USD 156.5 million in 2023.
BOVIE MEDICAL, CryoPen, Inc., and CryoIQ AB are the key market players.
The market is estimated to secure a valuation of USD 308.6 million by 2033.
The growth potential of the market is 7% CAGR through 2033
Minimally invasive surgery preference and skin disorder cases drive sales.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Hand Held 5.2. Stand Alone 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 6.1. Dermatology Value (USD Million) & Volume (Units) 6.2. Aesthetics Clinics 6.3. Drugstore and Cosmetics Stores 6.4. E-Commerce 6.5. Other End Users 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Special Medical Technology Co.Ltd. 17.2. BOVIE MEDICAL 17.3. CORTEX TECHNOLOGY ApS 17.4. H&O Equipment 17.5. CryoIQ AB 17.6. CryoConcepts LP 17.7. CryoPen, Inc. 17.8. Brymill Cryogenic Systems 17.9. Üzümcü Tbbi Cihaz ve Medikal Gaz Sist. San. Ve Tic. A. 17.10. OraSure Technologies 18. Assumptions & Acronyms Used 19. Research Methodology
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Dermatology Cryosurgery Units Market
