Cryotherapy Market

Market Overview:

The global cryotherapy market size reached US$ 329.9 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 539.8 Million by 2032, exhibiting a growth rate (CAGR) of 5.5% during 2024-2032. The growing geriatric population, increasing prevalence of cancer and increasing cases of anxiety, asthma, migraine, and muscle soreness represent some of the key factors driving the market.

Cryotherapy refers to a medical therapy that relies on extremely low temperatures for treatment. It helps reduce pain in the body and improves skin health and texture by promoting collagen production. It also helps boost immune function by increasing levels of white blood cells in the body. Moreover, cryotherapy aids in relieving migraines and headaches by constricting blood vessels in the head and reducing inflammation. It is employed to treat a variety of medical conditions, including sports injuries, arthritis, skin conditions, and chronic pain. It is also used by athletes to treat sports injuries, such as muscle strains, help speed up recovery time after injury, and improve performance.

Cryotherapy Market Trends:

At present, the growing popularity of sports and fitness activities is resulting in the increasing incidence of sports injuries. This represents one of the key factors positively influencing the market across the globe. In addition, the growing geriatric population and increasing prevalence of cancer are catalyzing the demand for cryotherapy for fast recovering, reducing complications, and minimizing hospital stays. This, in confluence with sedentary lifestyles, unhealthy dietary patterns, and increasing cases of anxiety, asthma, migraine, and muscle soreness, is creating a favorable market outlook. Apart from this, the rising influence of social media and the growing interest in wellness and beauty treatments, in confluence with the increasing preference for non-invasive treatments for skin conditions, is strengthening the market growth. Moreover, the rising demand for cost-effective treatment options is catalyzing the demand for cryotherapy as a potential alternative to more expensive treatments, such as surgeries. In line with this, the development of cryo-chambers and cryo-saunas for the treatment of inflammation, rheumatoid arthritis, and chronic pain, are fueling the market growth. Additionally, the increasing accessibility and the rising affordability of cryotherapy are contributing to the market growth. Furthermore, significant improvements in the healthcare infrastructure, along with extensive investments in research and development (R&D) activities, are fueling the growth of the market worldwide., Some of the other factors stimulating the growth of the market across the globe include inflating disposable incomes, increasing awareness about the benefits of cryotherapy, and flourishing wellness and fitness industries.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global cryotherapy market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product, application and end user.

Product Insights:

• Cryosurgery Devices
  • Tissue Contact Probes
  • Tissue Spray Probes
  • Epidermal and Subcutaneous Cryoablation Devices
• Localized Cryotherapy Devices
• Cryochambers and Cryosaunas
   

The report has provided a detailed breakup and analysis of the cryotherapy market based on the product. This includes cryosurgery devices (tissue contact probes, tissue spray probes, epidermal and subcutaneous cryoablation devices), localized cryotherapy devices, and cryochambers and cryosaunas. According to the report, cryochambers and cryosaunas accounted for the largest market share.

Application Insights:

• Surgical Applications
  • Oncology
  • Cardiology
  • Dermatology
  • Others
• Pain Management
• Recovery, Health and Beauty
   

A detailed breakup and analysis of the cryotherapy market based on the application has also been provided in the report. This includes surgical applications (oncology, cardiology, dermatology, and others), pain management, and recovery, health and beauty. According to the report, pain management accounted for the largest market share.

End User Insights:

• Hospitals and Specialty Clinics
• Cryotherapy Centres
• Spas and Fitness Centres
   

A detailed breakup and analysis of the cryotherapy market based on the end user has also been provided in the report. This includes hospitals and specialty clinics, cryotherapy centres, spas and fitness centres. According to the report, cryotherapy centres accounted for the largest market share.

Regional Insights:

• 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
   

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, North America was the largest market for cryotherapy. Some of the factors driving the North America cryotherapy market included the high disposable incomes, increasing incidences of sports injuries, rising awareness about the benefits of cryotherapy on skin conditions, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global cryotherapy market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 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. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the cryotherapy market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global cryotherapy market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the cryotherapy industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.