USD 269.01 million
Global Cryotherapy Market Size, Share, Growth Analysis, By Type(Pain management, oncology), By Application(Hospitals and clinics, cryotherapy centers) - Industry Forecast 2024-2031
Report ID:
SQMIG35D2071 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
65 |
Figures:
78
Global Cryotherapy Market Insights
Global Cryotheraphy market size was valued at USD 269.01 million in 2022 and is poised to grow from USD 293.22 million in 2023 to USD 584.26 million in 2031, at a CAGR of 9.0% during the forecast period (2024-2031).
Cryotherapy is also known as cold treatment or ice pack therapy, As technology continues to improve, new cryotherapy machines will be developed that are even more efficient and effective. The cooling system of this device can perform live system diagnosis, and fix the dispersion technology to verify even cooling all over the chamber. Cryotherapy is a minimum invasive treatment that uses extremely low temperatures to remove tissue lesions. This form of therapy is gaining common acceptance to treat skin conditions like warts and skin tags as well as prostate, liver, cervical, and other types of cancer.
US Cryotherapy Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
cryosurgery
Fastest Growth
chamber therapy
Growth Rate
9.0% CAGR
Global Cryotherapy Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Cryotherapy Market Size By type 2021-2030 ($ Bn)
Global Cryotherapy Market Size By type 2021-2030 (%)
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Global Cryotherapy Market Segmental Analysis
The cryotherapy market is segmented on the basis of by type insight, by application and by end use.Whereas, By type is segmented into the cryosurgery, ice pack therapy, chamber therapy. By application the Cryotherapy Market is segmented into pain management, oncology, cardiology, dermatology, and others. By end use the Cryotherapy Market is segmented into the Hospitals and clinics, cryotherapy centers, and others. By region, the Cryotherapy Market is segmented into North America, Latin America, Asia Pacific, Europe, and MEA.
Cryotherapy Market Analysis by Type
On the basis of therapy types, The cryosurgery segment controls the market and accounted for the maximum share of more than 55.00% of the overall revenue in 2021. This can be attributed to the increase in demand for surgical procedures across the globe. This approach has fewer side effects and can speed up recovery, as compared to the traditional techniques. It can be used as an additive therapy with other therapies, like radiation, chemotherapy, and hormone therapy. Chamber therapy is expected to be one of the fastest-growing segments of the spa industry, thanks to the increasing use of cryotherapy in various fields. Chamber therapy is more popular between athletes and sportspersons. Some of the research have been published on sports injuries-based cryotherapy treatments and their effects on various sports-related products, such as muscle pain, damage & soreness, and delayed onset of muscle soreness.
Cryotherapy Market Analysis by Application
The fitness application segment is anticipated to register the fastest growth rate of more than 11.5%, The increased awareness of the benefits of cryotherapy in fitness and the increase in the adoption of cryo chambers in fitness clubs has led to an increase in the number of people using cryotherapy to improve their fitness. This product is known for its ability to stimulate natural healing in the body and provide fast pain relief. Delayed Onset of Muscle Soreness (DOMS) is defined as muscular pain, stiffness, and tenderness observed post a high-intensity workout regime. Cryotherapy can be used for faster relief from DOMS. All these factors increase the use of cryotherapy in fitness centers.
Cryotherapy Market Analysis by End Use
On the basis of end use, The hospitals & specialty clinics end-use segment is expected to register the fastest growth rate of 8.1% over the forecast period. In cryotherapy technology more commonly used for treating a variety of diseases and disorders, demand for cryosurgery and related products is on the increase in hospitals and specialty clinics. Various key hospitals and clinics started offering cryotherapy-based treatment. Cryotherapy is a new trend in fitness with additional benefits. More and more people are selecting this service, creating high demand. Various fitness clubs and wellness spas are now using cryotherapy in their facilities. In this segment, cryotherapy products, such as cryosauna, are expected to be in high demand due to their high power with fitness centers in terms of design and use.
Global Cryotherapy Market By type2021 (%), 2031 (%)
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Global Cryotherapy Market Regional Insights
North America dominated the global market in 2021 and accounted for the largest share of 10.00% of the overall revenue primarily due to the high disposable income levels, The healthcare infrastructure is well-established and the country spends a high per capita amount on healthcare. This region has a high number of cryotherapy centers. According to a study, North America is home to around 69% of the world's cryotherapy centers. This new development is expected to lead to increased market growth in the near future. Asia Pacific is forecast to be the fastest-growing regional market during the forecast period.
The growth in cryotherapy in cancer and skin treatments is due to the increasing awareness of these treatments in countries with a developing healthcare infrastructure and high disposable income levels. The agreement of new products in developing markets is expected to be a major factor in the growth of the industry. In October 2021, IceCure Medical Ltd. submitted an amendment to the NMPA China with respect to the IceSense3 cryoprobes system. After a successful agreement, IceCure Medical can commercialize its product in China.
Global Cryotherapy Market By Geography, 2021-2030, 2024-2031
- Largest
- Fastest
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Global Cryotherapy Market Dynamics
Cryotherapy Market Drivers
Technological Advancements to Bolster Market Growth
- Cryotherapy has become an important treatment option. There are a variety of reasons why cryotherapy equipment has become more new over the years. This includes the various technological innovations and advancements in the field. Development was observed in various equipment, including the cryosurgery units and accessories. Cryotherapy, cryosauna use, and other beauty and wellness therapies are helpful for treating inflammation, rheumatoid arthritis, and pain management, as well as general wellness, have also undergone developmental increase.
Cryotherapy Market Restraints
Limited Access to Hinder Market Growth
- Cryotherapy remains limited to very few geographic regions. Cryotherapy is relatively unexpected in other parts of the world, due to a lack of awareness. In North America and Europe, however, it is becoming more popular, largely due to its benefits. Even though it is less invasive and less painful than highly invasive surgical procedures, it is generally used only for surgical treatments on a large scale. There may be some limitations on the growth of the cryotherapy market during the forecast period because people don't have easy access to it, and fewer people are aware of its benefits.
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Global Cryotherapy Market Competitive Landscape
The cryotherapy market is competitive, with several major players for market share. These companies are constantly developing and launching new products, in an effort to capture a larger share of the market.
Cryotherapy Market Top players company profiles
- Zimmer MedizinSysteme GmbH
- Impact Cryotherapy
- CryoConcepts LP
- Cryomed s.r.o.
- MECOTEC GmbH
- METRUM CRYOFLEX Sp. z o.o.
- Kriosystem Life Sp. z o.o.
- CryoBuilt Technologies
- Cryo Science
- Juka Cryosauna
- Titan Cryo
- Cryosense
- Cryonic Medical
- Cryomachines Inc.
- CRYO Science Deutschland GmbH
- Kriomed Health Solutions
- Cryo-X
- Cryosthetics GmbH
- Cryoaction Limited
- Kriosan Sp. z o.o.
Cryotherapy Market Recent developments
- In February 2024, Vessi Medical, a company specializing in cryotherapy technology for treating non-muscle-invasive bladder cancer (NMIBC), revealed the completion of a $16.5 million Series A funding round. The company provides a cryo spray designed for hollow and moist organs, presenting a novel treatment method for NMIBC, a type of cancer affecting the surface of the bladder's inner lining.
- In November 2023, Hyperice, a renowned global wellness brand focused on high performance, revealed a partnership with Pause Studio, a prominent wellness recovery brand. This collaboration intends to introduce Hyperice's award-winning technology to Pause clients across their nationwide network of studios. The goal is to elevate the Pause experience by integrating advanced technology to optimize performance and recovery benefits for clients.
- In October 2023, HydroMassage, a company renowned for its innovative wellness products such as HydroMassage, CryoLounge+, and RelaxSpace, revealed a corporate rebranding initiative under the new name, WellnessSpace Brands. With over three decades of experience, WellnessSpace Brands has been dedicated to assisting businesses in establishing wellness spaces that offer convenient, technology-driven solutions for comprehensive body wellness to people worldwide.
Global Cryotherapy Key Market Trends
- Cryotherapy is used to treat several types of cancers, as well as some pre cancerous or noncancerous conditions. Cryosurgery is an effective treatment for a variety of cancerous tumors, including prostate and liver tumors, as well as early-stage skin cancers (both basal cell and squamous cell carcinomas), precancerous skin growths known as actinic keratosis, and precancerous conditions of the cervix known as cervical intraepithelial neoplasia. The oncology market is expected to grow at the highest rate during the forecast period, due to the high incidence of cancer and growing awareness about various cryotherapy approaches.
Global Cryotherapy Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research and Analysis Wing) is our Business Information Services team that collects, collates, Co-relates and analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global cryotherapy market analysis, The cryotherapy market players are focusing on new product launches to expand their business across the market. The complicated cryotherapy mechanisms and hazardous effects of cryogenic gasses are expected to prevent the market from growing rapidly over the next few years.
| Report Metric | Details |
|---|---|
| Market size value in 2031 | USD 269.01 million |
| Growth Rate | 9.0% |
| Forecast period | 2024-2031 |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Cryotherapy Market Recent developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Cryotherapy Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Cryotherapy Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Cryotherapy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cryotherapy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Cryotherapy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Cryotherapy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Cryotherapy Market Report Snapshots
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