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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 Clinics, Cryotherapy Centers, Spas & Fitness Centers, Others), By Region and Competition

June 2023 | 113 pages | ID: C209AE0343F5EN
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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 the growing use of cryotherapy procedures in dermatology for aesthetic treatment.

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. Pregna International Ltd., a provider of contraceptive solutions, had also recently created a device that uses carbon dioxide as a cryogen rather than the more commonly used liquid nitrogen or argon gas. This aspect lowers treatment costs by many orders of magnitude, allowing cryo-therapeutics to achieve a larger patient pool. The development of single-use and reusable cryoprobes for precise freezing and rapid defrosting is expected to improve the experience of patients undergoing cryotherapy and drive market revenue growth between 2022 and 2030.

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.

Increasing Skin Cancer Diseases and Rising Awareness About Cryotherapy Benefits

Growing awareness of the need for skin care and increased knowledge of cryotherapy benefits in the areas of beauty and wellness is expected to drive 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. Furthermore, the rising popularity of wellness, beauty, and fitness will drive the cryotherapy industry forward. In the forecast period of 2024-2028, the increased focus on developing cryotherapy uses will give advantageous possibilities for the cryotherapy market. Skin cancer is the most frequent malignancy in the United States, according to the American Academy of Dermatology Association. According to current projections, one in every five Americans will suffer skin cancer during their lifetime. Every day, roughly 9,500 people in the United States are diagnosed with skin cancer. In the United States, 96445 new melanoma skin cancer cases were reported in 2021.

Market Segmentation

Global Cryotherapy market is segmented into therapy type, device type, application, and end-user by region. Based on Therapy Type, the market can be divided into Cryosurgery, Icepack Therapy, and Chamber Therapy. Based on Device Type, the market can be split into Cryo Probes, Cryoguns, Localized Cryotherapy Devices, Cryochambers & Cryosaunas, and Others. Based on Application, the market can be fragmented into Surgical Applications, Pain Management, Beauty & Wellness, and Others. Based on End Users, the market can be fragmented into Hospitals & Specialty Clinics, Cryotherapy Centers, spa & Fitness Centers, and Others. In terms of country, the 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 PlayersMedtronic 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, and Easytech s.r.l. are the leading players operating in the Global Cryotherapy Market.

Report Scope:

In this report, Global Cryotherapy market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
  • Cryotherapy Market, By Therapy Type:
    • Cryosurgery
    • Icepack Therapy
    • Chamber Therapy
  • Cryotherapy Market, By Device Type:
    • Cryo Probes
    • Cryoguns
    • Localized Cryotherapy Devices
    • Cryochambers & Cryosaunas
    • Others
  • Cryotherapy Market, By Application:
    • Surgical Applications
    • Pain Management
    • Beauty & Wellness
    • Others
  • Cryotherapy Market, By End User:
    • Hospitals & Specialty Clinics
    • Cryotherapy Centers
    • Spas & Fitness Centers
    • Others
  • Cryotherapy Market, By Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Asia-Pacific
      • India
      • Japan
      • South Korea
      • Australia
      • China
    • Europe & CIS
      • Germany
      • France
      • United Kingdom
      • Spain
      • Italy
    • South America
      • Brazil
      • Argentina
      • Colombia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Egypt
      • Turkey
Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Global Cryotherapy market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information
  • Detailed analysis and profiling of additional market players (up to five).
1. PRODUCT OVERVIEW

1.1. Market Definition
1.2. Scope of the Market
  1.2.1. Markets Covered
  1.2.2. Years Considered for Study
  1.2.3. Key Market Segmentations

2. RESEARCH METHODOLOGY

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. EXECUTIVE SUMMARY

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. VOICE OF CUSTOMER

5. CLINICAL TRIAL ANALYSIS

5.1. Ongoing Clinical Trials
5.2. Completed Clinical Trials
5.3. Terminated Clinical Trials
5.4. Breakdown of Pipeline, By Development Phase
5.5. Breakdown of Pipeline, By Status
5.6. Breakdown of Pipeline, By Study Application
5.7. Breakdown of Pipeline, By Region
5.8. Clinical Trials Heat Map

6. GLOBAL CRYOTHERAPY MARKET OUTLOOK

6.1. Market Size & Forecast
  6.1.1. By Value
6.2. Market Share & Forecast
  6.2.1. By Therapy Type (Cryosurgery, Icepack Therapy, Chamber Therapy)
  6.2.2. By Device Type (Cryo Probes, Cryoguns, Localized Cryotherapy Devices, Cryochambers & Cryosaunas, Others)
  6.2.3. By Application (Surgical Applications, Pain Management, Beauty & Wellness, Others)
  6.2.4. By End User (Hospitals & Specialty Clinics, Cryotherapy Centers, Spas & Fitness Centers, Others)
  6.2.5. By Region
  6.2.6. By Company (2022)
6.3. Market Map
  6.3.1. By Therapy Type
  6.3.2. By Device Type
  6.3.3. By Application
  6.3.4. By End User
  6.3.5. By Region

7. NORTH AMERICA CRYOTHERAPY MARKET OUTLOOK

7.1. Market Size & Forecast
  7.1.1. By Value
7.2. Market Share & Forecast
  7.2.1. By Therapy Type
  7.2.2. By Device Type
  7.2.3. By Application
  7.2.4. By End User
  7.2.5. By Country
7.3. North America: Country Analysis
  7.3.1. United States Cryotherapy Market Outlook
    7.3.1.1. Market Size & Forecast
      7.3.1.1.1. By Value
    7.3.1.2. Market Share & Forecast
      7.3.1.2.1. By Therapy Type
      7.3.1.2.2. By Device Type
      7.3.1.2.3. By Application
      7.3.1.2.4. By End User
  7.3.2. Mexico Cryotherapy Market Outlook
    7.3.2.1. Market Size & Forecast
      7.3.2.1.1. By Value
    7.3.2.2. Market Share & Forecast
      7.3.2.2.1. By Therapy Type
      7.3.2.2.2. By Device Type
      7.3.2.2.3. By Application
      7.3.2.2.4. By End User
  7.3.3. Canada Cryotherapy Market Outlook
    7.3.3.1. Market Size & Forecast
      7.3.3.1.1. By Value
    7.3.3.2. Market Share & Forecast
      7.3.3.2.1. By Therapy Type
      7.3.3.2.2. By Device Type
      7.3.3.2.3. By Application
      7.3.3.2.4. By End User

8. EUROPE CRYOTHERAPY MARKET OUTLOOK

8.1. Market Size & Forecast
  8.1.1. By Value
8.2. Market Share & Forecast
  8.2.1. By Therapy Type
  8.2.2. By Device Type
  8.2.3. By Application
  8.2.4. By End User
  8.2.5. By Country
8.3. Europe: Country Analysis
  8.3.1. France Cryotherapy Market Outlook
    8.3.1.1. Market Size & Forecast
      8.3.1.1.1. By Value
    8.3.1.2. Market Share & Forecast
      8.3.1.2.1. By Therapy Type
      8.3.1.2.2. By Device Type
      8.3.1.2.3. By Application
      8.3.1.2.4. By End User
  8.3.2. Germany Cryotherapy Market Outlook
    8.3.2.1. Market Size & Forecast
      8.3.2.1.1. By Value
    8.3.2.2. Market Share & Forecast
      8.3.2.2.1. By Therapy Type
      8.3.2.2.2. By Device Type
      8.3.2.2.3. By Application
      8.3.2.2.4. By End User
  8.3.3. United Kingdom Cryotherapy Market Outlook
    8.3.3.1. Market Size & Forecast
      8.3.3.1.1. By Value
    8.3.3.2. Market Share & Forecast
      8.3.3.2.1. By Therapy Type
      8.3.3.2.2. By Device Type
      8.3.3.2.3. By Application
      8.3.3.2.4. By End User
  8.3.4. Italy Cryotherapy Market Outlook
    8.3.4.1. Market Size & Forecast
      8.3.4.1.1. By Value
    8.3.4.2. Market Share & Forecast
      8.3.4.2.1. By Therapy Type
      8.3.4.2.2. By Device Type
      8.3.4.2.3. By Application
      8.3.4.2.4. By End User
  8.3.5. Spain Cryotherapy Market Outlook
    8.3.5.1. Market Size & Forecast
      8.3.5.1.1. By Value
    8.3.5.2. Market Share & Forecast
      8.3.5.2.1. By Therapy Type
      8.3.5.2.2. By Device Type
      8.3.5.2.3. By Application
      8.3.5.2.4. By End User

9. ASIA-PACIFIC CRYOTHERAPY MARKET OUTLOOK

9.1. Market Size & Forecast
  9.1.1. By Value
9.2. Market Share & Forecast
  9.2.1. By Therapy Type
  9.2.2. By Device Type
  9.2.3. By Application
  9.2.4. By End User
  9.2.5. By Country
9.3. Asia-Pacific: Country Analysis
  9.3.1. China Cryotherapy Market Outlook
    9.3.1.1. Market Size & Forecast
      9.3.1.1.1. By Value
    9.3.1.2. Market Share & Forecast
      9.3.1.2.1. By Therapy Type
      9.3.1.2.2. By Device Type
      9.3.1.2.3. By Application
      9.3.1.2.4. By End User
  9.3.2. India Cryotherapy Market Outlook
    9.3.2.1. Market Size & Forecast
      9.3.2.1.1. By Value
    9.3.2.2. Market Share & Forecast
      9.3.2.2.1. By Therapy Type
      9.3.2.2.2. By Device Type
      9.3.2.2.3. By Application
      9.3.2.2.4. By End User
  9.3.3. Japan Cryotherapy Market Outlook
    9.3.3.1. Market Size & Forecast
      9.3.3.1.1. By Value
    9.3.3.2. Market Share & Forecast
      9.3.3.2.1. By Therapy Type
      9.3.3.2.2. By Device Type
      9.3.3.2.3. By Application
      9.3.3.2.4. By End User
  9.3.4. South Korea Cryotherapy Market Outlook
    9.3.4.1. Market Size & Forecast
      9.3.4.1.1. By Value
    9.3.4.2. Market Share & Forecast
      9.3.4.2.1. By Therapy Type
      9.3.4.2.2. By Device Type
      9.3.4.2.3. By Application
      9.3.4.2.4. By End User
  9.3.5. Australia Cryotherapy Market Outlook
    9.3.5.1. Market Size & Forecast
      9.3.5.1.1. By Value
    9.3.5.2. Market Share & Forecast
      9.3.5.2.1. By Therapy Type
      9.3.5.2.2. By Device Type
      9.3.5.2.3. By Application
      9.3.5.2.4. By End User

10. SOUTH AMERICA CRYOTHERAPY MARKET OUTLOOK

10.1. Market Size & Forecast
  10.1.1. By Value
10.2. Market Share & Forecast
  10.2.1. By Therapy Type
  10.2.2. By Device Type
  10.2.3. By Application
  10.2.4. By End User
  10.2.5. By Country
10.3. South America: Country Analysis
  10.3.1. Brazil Cryotherapy Market Outlook
    10.3.1.1. Market Size & Forecast
      10.3.1.1.1. By Value
    10.3.1.2. Market Share & Forecast
      10.3.1.2.1. By Therapy Type
      10.3.1.2.2. By Device Type
      10.3.1.2.3. By Application
      10.3.1.2.4. By End User
  10.3.2. Argentina Cryotherapy Market Outlook
    10.3.2.1. Market Size & Forecast
      10.3.2.1.1. By Value
    10.3.2.2. Market Share & Forecast
      10.3.2.2.1. By Therapy Type
      10.3.2.2.2. By Device Type
      10.3.2.2.3. By Application
      10.3.2.2.4. By End User
  10.3.3. Colombia Cryotherapy Market Outlook
    10.3.3.1. Market Size & Forecast
      10.3.3.1.1. By Value
    10.3.3.2. Market Share & Forecast
      10.3.3.2.1. By Therapy Type
      10.3.3.2.2. By Device Type
      10.3.3.2.3. By Application
      10.3.3.2.4. By End User

11. MIDDLE EAST AND AFRICA CRYOTHERAPY MARKET OUTLOOK

11.1. Market Size & Forecast
  11.1.1. By Value
11.2. Market Share & Forecast
  11.2.1. By Therapy Type
  11.2.2. By Device Type
  11.2.3. By Application
  11.2.4. By End User
  11.2.5. By Country
11.3. MEA: Country Analysis
  11.3.1. South Africa Cryotherapy Market Outlook
    11.3.1.1. Market Size & Forecast
      11.3.1.1.1. By Value
    11.3.1.2. Market Share & Forecast
      11.3.1.2.1. By Therapy Type
      11.3.1.2.2. By Device Type
      11.3.1.2.3. By Application
      11.3.1.2.4. By End User
  11.3.2. Saudi Arabia Cryotherapy Market Outlook
    11.3.2.1. Market Size & Forecast
      11.3.2.1.1. By Value
    11.3.2.2. Market Share & Forecast
      11.3.2.2.1. By Therapy Type
      11.3.2.2.2. By Device Type
      11.3.2.2.3. By Application
      11.3.2.2.4. By End User
  11.3.3. UAE Cryotherapy Market Outlook
    11.3.3.1. Market Size & Forecast
      11.3.3.1.1. By Value
    11.3.3.2. Market Share & Forecast
      11.3.3.2.1. By Therapy Type
      11.3.3.2.2. By Device Type
      11.3.3.2.3. By Application
      11.3.3.2.4. By End User
  11.3.4. Egypt Cryotherapy Market Outlook
    11.3.4.1. Market Size & Forecast
      11.3.4.1.1. By Value
    11.3.4.2. Market Share & Forecast
      11.3.4.2.1. By Therapy Type
      11.3.4.2.2. By Device Type
      11.3.4.2.3. By Application
      11.3.4.2.4. By End User
  11.3.5. Turkey Cryotherapy Market Outlook
    11.3.5.1. Market Size & Forecast
      11.3.5.1.1. By Value
    11.3.5.2. Market Share & Forecast
      11.3.5.2.1. By Therapy Type
      11.3.5.2.2. By Device Type
      11.3.5.2.3. By Application
      11.3.5.2.4. By End User

12. MARKET DYNAMICS

12.1. Drivers
12.2. Challenges

13. MARKET TRENDS & DEVELOPMENTS

13.1. Recent Developments
13.2. Mergers & Acquisitions
13.3. Product Launches

14. COMPETITIVE LANDSCAPE

14.1. Business Overview
14.2. Company Snapshot
14.3. Products & Services
14.4. Financials (As reported)
14.5. Recent Developments
14.6. SWOT Analysis
  14.6.1. Medtronic Plc.
  14.6.2. CooperSurgical, Inc.
  14.6.3. Brymill Cryogenic Systems
  14.6.4. CryoConcepts LP
  14.6.5. Galil Medical Inc.
  14.6.6. Zimmer MedizinSysteme GmbH
  14.6.7. METRUM CRYOFLEX Sp. z o.o.
  14.6.8. Cortex Technology ApS
  14.6.9. R&D Krion LLC
  14.6.10. Easytech s.r.l.

15. STRATEGIC RECOMMENDATIONS


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