Cryotherapy Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented by Therapy Type (Cryosurgery, Icepack Therapy, Chamber Therapy), By Device Type (Cryo Probes, Cryoguns, Localized Cryotherapy Devices, Cryochambers & Cryosaunas, Others), By Application (Surgical Applications, Pain Management, Beauty & Wellness, Others), By End User (Hospitals & Specialty Cli
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationCryotherapy Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented by Therapy Type (Cryosurgery, Icepack Therapy, Chamber Therapy), By Device Type (Cryo Probes, Cryoguns, Localized Cryotherapy Devices, Cryochambers & Cryosaunas, Others), By Application (Surgical Applications, Pain Management, Beauty & Wellness, Others), By End User (Hospitals & Specialty Cli
Global Cryotherapy Market is anticipated to witness a growth of steady CAGR in the forecast period 2024-2028. Cryotherapy, commonly known as cold treatment or icepack therapy, is used to treat and cure diseases such as cervical cancer, retinoblastoma, skin cancer, and other type of diseases, by removing tissue or nerve lesions. It is also utilized to heal and relax body parts owing to muscular sprains, tissue damage, and continuous activity, by giving ice baths to patients. The cold temperature constricts blood vessels, reducing the number of inflammatory cytokines that reach the affected tissue or injury site. Different gases, such as argon and nitrogen, are used in cryotherapy treatment. Cryoprobes are used to treat primary tumors and malignancies in cancer and administer liquid nitrogen directly to the targeted sites. Cryosurgery offers the advantage of having a less invasive technique, which leads to a quicker recovery. It also comes with a lower chance of infection transmission. The global cryotherapy market is affected by factors such as an increase in cancer and sports injury incidences, an increase in demand for minimally invasive therapies, and growing use of cryotherapy procedures in dermatology, for aesthetic treatment. One of the most common uses of cryotherapy is for pain management. It has been shown to be effective in reducing pain and inflammation in various conditions, including arthritis, fibromyalgia, and sports injuries. Cryotherapy can also be used to speed up recovery after exercise or surgery.
Rising New Cryotherapy Device with Affordable Price
Rising product developments, low-cost cryotherapy devices, and their rising users are likely to drive market growth during the forecast years. For example, CryoBuilt, Inc., a developer of whole-body cryotherapy systems, unveiled EVEREST, a sophisticated and inexpensive product line of whole-body cryotherapy chambers, in May 2022. EVEREST chambers used freshly oxygenated cold air to cool the chamber, removing the risk of exposure to hazardous gases. The EVEREST line of chambers from CryoBuilt, Inc. allows you to take control of the system completely, via the company's CryoBrain app.
Increasing Collaborations with Major Market Players
Collaborations between key industry players are expected to propel market growth over the forthcoming years. For example, in May 2019, Medtronic Plc, an American Irish registered medical device firm, announced a collaboration with Koninklijke Philips N.V., which is an Amsterdam-based healthcare technology company. This partnership is predicted to lead to an integrated, unique image-guided solution for cryoablation. This procedure is intended for the effective therapy of paroxysmal atrial fibrillation, which is a common cardiac rhythm problem. Such company development efforts by leading market players are expected to take the global cryotherapy market forward. Cryotherapy devices have undergone significant technological advancements in recent years, with the development of new devices that offer improved performance, greater convenience, and increased safety. For example, the development of portable cryotherapy machines and cryotherapy pads has made cryotherapy more accessible and convenient for patients. With the growing demand for healthcare services, there is increasing investment in healthcare infrastructure across the globe. This investment is driving the growth of the cryotherapy market, as healthcare facilities are adopting cryotherapy devices to offer patients non-invasive and effective pain management treatments.
Increasing Skin Cancer Diseases and Rising Awareness About Cryotherapy Benefits
Growing awareness towards the need for skin-care and increased knowledge of cryotherapy benefits, in the areas of beauty and wellness, are expected to drive the market growth over the next several years. This treatment can stimulate the body's metabolism and circulation, resulting in skin regeneration. Numerous other advantages, such as weight loss, cellulite reduction, and cell oxygenation, will provide momentum to the market demand during the predicted timeline. The rising incidences of cancer and sports injuries, along with the growing need for less invasive therapies and advancements in cryotherapy equipment technology, will be the primary drivers influencing market expansion.
Recent Development
- °CRYO ArcticLaunched in 2021, °CRYO Arctic is a whole-body cryotherapy chamber that uses a patented cooling system to achieve temperatures as low as -140°C. The chamber is equipped with advanced safety features, including an automatic shut-off system, emergency stop button, and a built-in oxygen monitor.
- NovoTHOR NovoTHOR is a full-body light therapy device that uses a combination of red and near-infrared light to promote healing and reduce inflammation. It was launched in 2019 and has been used to treat a variety of conditions, including sports injuries, arthritis, and chronic pain.
- Brrrn BoardLaunched in 2018, the Brrrn Board is a portable device that combines balance training with cold therapy. The device uses a cooling system to keep the surface of the board at a temperature of 15-20°C, providing a unique workout experience that can help improve balance, stability, and core strength.
- Zimmer Cryo 6The Zimmer Cryo 6 is a new generation of cryotherapy machine that was launched in 2018. It uses a patented cooling system to provide localized cryotherapy treatment to specific areas of the body. The machine is designed to be compact, lightweight, and easy to use, and offers adjustable temperature and duration settings.
- IceLab IceLab is a new generation of cryotherapy chamber that was launched in 2018. It uses a patented cooling system to achieve temperatures as low as -110°C, and is designed to offer a more comfortable and efficient whole-body cryotherapy experience. The chamber is equipped with advanced safety features, including a built-in oxygen monitor and an emergency stop button.
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Market Segmentation
In terms of country, United States is expected to be a lucrative market in the forecast period as the government is investing in research for new therapy and cryotherapy devices, for the easy detection of cervical and skin cancer for the affected people.
Market Players
Medtronic Plc., CooperSurgical, Inc., Brymill Cryogenic Systems, CryoConcepts LP, Galil Medical Inc., Zimmer MedizinSysteme GmbH, METRUM CRYOFLEX Sp. z o.o., Cortex Technology ApS, R&D Krion LLC, Easytech s.r.l.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report coverage | Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | By Therapy Type By Device Type By Application By End User By Region |
| Regional scope | North America; Asia Pacific; Europe; South America; Middle East & Africa |
| Country scope | United States; Canada; Mexico; India; China; Japan; South Korea; Australia; Germany; France; United Kingdom; Spain; Italy; Brazil; Argentina; Colombia; South Africa; Saudi Arabia; UAE; Egypt; Turkey |
| Key companies profiled | Medtronic Plc., CooperSurgical, Inc., Brymill Cryogenic Systems, CryoConcepts LP, Galil Medical Inc., Zimmer MedizinSysteme GmbH, METRUM CRYOFLEX Sp. z o.o., Cortex Technology ApS, R&D Krion LLC, Easytech s.r.l. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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