Global Cryotherapy Market Insights Forecasts to 2030

• The Cryotherapy Market was valued at USD 7.01 Billion in 2021.
• The Market is growing at a CAGR of 7.27% from 2022 to 2030
• The Worldwide Cryotherapy Market is expected to reach USD 12.34 Billion by 2030
• Asia Pacific is expected to grow the fastest during the forecast period

The Global Cryotherapy Market is expected to reach USD 12.34 Billion by 2030, at a CAGR of 12.34% during the forecast period 2022 to 2030.

Pain, cancerous and benign tumours, tissue damage or lesions, and sports injuries are just a few of the medical ailments that are treated using cryotherapy. Cryotherapy is a pain management technique that uses localised freezing temperatures to kill irritated nerves, aberrant skin cells, or localised areas of various tumours, such as skin cancer and prostate cancer (also known as cryosurgery). Cryotherapy involves freezing a damaged nerve by inserting a probe into the tissue close to it. The freezing deactivates the nerve, relieving the unpleasant irritation of the nerve. Localised nerve irritation can be treated successfully and safely using cryotherapy.

Impact of COVID 19 On Global Cryotherapy Market

The World Health Organization has declared COVID 19 as a public health emergency of international concern. The virus has affected almost all countries globally. With the onset of pandemic, government of different countries have imposed countrywide lockdowns and implemented social distancing measures in order to prevent the collapse of healthcare industry. Not only this government have also issued bans as well as limitations on elective surgeries and medical procedures. All these things have restrained the overall demand of the global cryotherapy market. Companies who produce cryotherapy equipment are having trouble giving in-person product demonstrations, running their facilities at full capacity, and going to conferences that can lead to future sales prospects as a result of these restrictions. Lockdown in Asia-Pacific nations like China and India has also caused delays in the manufacturing and delivery of cryotherapy products. All of these elements are anticipated to have a detrimental effect on the market for cryotherapy.

Key Driving Factors

Cryotherapy has gained popularity in the field of beauty and aesthetics. In fact, many celebrities and athletes have started promoting it as a new trend. All these factors are anticipated to boost the market growth. Apart from this, rise in the number of minimally invasive and non-invasive procedures that are performed every year are driving the market across the world. Due to the expansion of the consumer preferences for enhancing one’s physical features and correcting skin disorders, the demand for minimally invasive and non-invasive procedures are significantly increasing. Moreover, the market is also propelled by the technological advancement in the cryotherapy equipment and with the developments on cryotherapy and various technical innovations, it has transformed into an important treatment option. Furthermore, the introduction of new products, affordable cryotherapy devices as well as increasing use of cryotherapy devices are driving the market.

Key Challenging Factors

The lack of skilled labours like nurses, doctors, and other healthcare professionals are impeding the overall growth of the cryotherapy market. Moreover, due to the restricted availability of cryotherapy as well as a lack of consumer awareness are impeding the market growth.

Market Segmentation

Therapy Type Insights

Cryosurgery segment is dominating the market with the largest market share

On the basis of therapy type, the global cryotherapy market is segmented into cryosurgery and chamber therapy. Among these, the cryosurgery segment is dominating the market with the largest market share over the forecast period. The growth is attributed to the increasing demand of surgical procedures across the world. As compared to the traditional procedures, this technique carries less side effects and helps to recover faster. Moreover, it can also be used as an adjunct therapy along with other therapies like chemotherapy, radiation, and hormone therapy.

Application Insights

Fitness segment is witnessing the fastest market growth over the forecast period

Based on application, the global cryotherapy market is segmented into fitness and cold storage. Among these, the fitness segment is witnessing the fastest market growth over the forecast period. The growth is attributed to the increasing awareness of the benefits of cryotherapy in fitness along with the increasing adoption of cryo chambers in fitness clubs. This is due toits capacity in stimulating natural healing in the body and offer faster pain relief. In fact, cryotherapy is adopted to get relief from pain at a short time. All such factors promote the use of cryotherapy in the fitness centers.

End Use Insights

Hospitals and specialty clinics segment holds the largest market share over the forecast period

On the basis of end use, the global cryotherapy market is segmented into hospitals and specialty clinics, cryotherapy centers, spas and fitness centers, and others. Among these, hospitals and specialty clinics segment holds the largest market share over the forecast period. The demand for cryosurgery and related goods in hospitals and specialist clinics has increased as a result of developments in cryotherapy technology for the treatment of various diseases and disorders. A number of important clinics and hospitals began providing cryotherapy-based treatments. For instance, CARE Innovative Solutions announced the opening of the Slynarski Knee Clinic in October 2021, which offers computer-controlled cryotherapy treatments for conditions related to the knee.

Device Type Insights

Cryochamber segment to witness the fastest market growth over the forecast period

Based on the device type, the global cryotherapy market is segmented into cryo chamber and cryo probe. Among these, the cryochamber segment is anticipated to witness the fastest market growth over the forecast period owing to the increasing number of cryotherapy centers and its increasing adoption by beauty clinics and fitness centers. In addition, cryo chamber is also used in spas, athletic training facilities, and beauty treatment.

Regional Insights

North America is dominating the market with the largest market share over the forecast period

North America is dominating the Cryotherapy market among all other regions due to the increasing number of cryotherapy centers and its usage in beauty clinics as well as fitness centers. Apart from the increasing disposable income, high per capita healthcare expenditure and reputed healthcare infrastructure are propelling the regional growth.

Asia Pacific, on the other hand is witnessing the fastest market growth due to the untapped opportunities and the increasing awareness about cryosurgery in skin and cancer treatments along with the rapidly developing healthcare infrastructure and increasing disposable income levels in developing countries.

Recent Market Developments

• In January 2021, Pregna International Ltd. introduced CryoPop in India which is used to cure precancerous cervical cancer lesions.

List of Key Companies

• Impact Cryotherapy
• Brymill Cryogenic Systems
• Cooper Companies (Coopersurgical)
• Erbe Elektromedizin GmbH
• Kriosystem Life
• Medtronic Plc
• Metrum Cryoflex
• Cryoconcepts LP
• US Cryotherapy
• Zimmer Medizinsysteme GmbH

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Cryotherapy Market based on the below-mentioned segments:

Cryotherapy Market, Therapy Analysis

• Cryosurgery
• Chamber Therapy

Cryotherapy Market, Device Type Analysis

• Cryo Chamber
• Cryo Probe

Cryotherapy Market, Application Analysis

• Fitness
• Cold Storage

Cryotherapy Market, End Use Analysis

• Hospitals and specialty clinics
• Cryotherapy Centers
• Spas and Fitness Centers
• Others

Cryotherapy Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa