Global Cryotherapy Market Size, Trends, Report 2023-2028
The global cryotherapy market size reached US$ 310.5 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 446.7 Million by 2028, exhibiting a growth rate (CAGR) of 6.18% during 2023-2028.
Cryotherapy, also known as cryogenic therapy, is a non-invasive procedure that uses freezing or near-freezing temperatures to destroy abnormal skin growths such as warts, tumors, and cancerous cells. It relies on liquid nitrogen, compressed argon gas, and liquid nitrous oxide to attain the required cold temperature for cryosurgery and cryoablation. It is commonly used to treat various conditions, including anxiety, asthma, atopic dermatitis, rheumatoid arthritis, cancer, migraine, and muscle soreness. It reduces discomfort and pain, promotes quick healing, and involves shorter hospital stays, smaller incisions, and reduced complication risks. As a result, cryotherapy is gaining immense traction among individuals trying to lose weight by maintaining high body temperatures and boosting metabolism.
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Cryotherapy Market Trends and Drivers:
The escalating prevalence of chronic medical disorders across countries is primarily driving the cryotherapy market. Besides this, the elevating demand for whole-body cryotherapy (WBC) in the treatment of various health conditions, such as malignant and benign tumors, tissue damages or lesions, sports injuries, etc., is further augmenting the market growth.
Apart from this, the expanding technological advancements, including the development of cryo-chambers and cryo-saunas, are also catalyzing the global market. Moreover, the rising improvements in the healthcare sector, along with the increasing research and development (R&D) activities, are acting as significant growth-inducing factors.
Furthermore, the growing requirement for thin and supercooled probes and cryoablation needles with helium-free thaw capabilities is expected to bolster the cryotherapy market in the coming years.
Global Cryotherapy Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Boston Scientific Corporation, Brymill Cryogenic Systems, CooperSurgical Inc., Cortex Technology, CryoConcepts LP, Erbe Elektromedizin GmbH, Kriosystem-Care Sp. z o.o., Medtronic plc, METRUM CRYOFLEX Sp. z o.o. Sp. k., Pacira BioSciences Inc., US Cryotherapy, Zimmer MedizinSysteme GmbH etc.
The report has segmented the market on the basis of region, product, application and end user.
Breakup by Product:
- Cryosurgery Devices
- Tissue Contact Probes
- Tissue Spray Probes
- Epidermal and Subcutaneous Cryoablation Devices
- Localized Cryotherapy Devices
- Cryochambers and Cryosaunas
Breakup by Application:
- Surgical Applications
- Oncology
- Cardiology
- Dermatology
- Others
- Pain Management
- Recovery, Health and Beauty
Breakup by End User:
- Hospitals and Specialty Clinics
- Cryotherapy Centers
- Spas and Fitness Centers
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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