Cryotherapy Market : Growing Popularity in the Beauty, Wellness, and Fitness Industries

Growth in the cryotherapy market is primarily driven by factors such as the growing incidences of sports injuries, cardiac diseases, & cancers, and technological advancements in cryotherapy technology.

Cryotherapy has become an important treatment option, mainly due to the various technological innovations and advancements in cryotherapy equipment over the years. Developments have been observed in various equipment, including cryosurgery units and accessories.

According to the new market research report by MarketsandMarkets, the cryotherapy market is expected to grow from USD 206 million in 2019 to USD 319 million by 2024, at a CAGR of 9.1% during the forecast period.

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By product, the cryotherapy market is segmented into cryosurgery devices (tissue contact probes, tissue spray probes, and epidermal & subcutaneous cryoablation devices), localized cryotherapy devices, and cryochambers & cryosaunas. The cryosurgery devices segment is expected to witness the fastest growth during the forecast period. Advantages offered by Cryosurgery, such as fewer side effects and greater affordability, are increasing its adoption. Consequently, the demand for Cryosurgery devices is also growing.

Cryotherapy is widely used for the treatment of health conditions like pain, malignant & benign tumors, tissue damages or lesions, and sports injuries. The cryotherapy applications market is segmented into surgical applications (oncology, dermatology, cardiology, and other surgical applications); pain management; and recovery, health, & beauty applications. The surgical applications segment held the largest share of the market in 2018, a trend that is expected to continue during the forecast period.

Geographical growth scenario of Cryosurgery Market :

North America held the largest share of the market in 2018 and is projected to continue to do so during the forecast period. Factors such as the growing popularity of Cryosurgery, rising prevalence of cancer, increase in sports and physical activity-related injuries, and rising prevalence of CVDs are driving the North American cryotherapy market. Lately, the US has seen a growing popularity of Cryosurgery among athletes and fitness & beauty enthusiasts, leading to many professional and collegiate training departments installing cryosauna machines at their facilities.

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Key Market Players :

Medtronic (Ireland), Galil Medical (US), and CooperSurgical (US). These leading players offer an expansive product portfolio for cryoablation and have a wide geographic presence. The other players in this market include Impact Cryotherapy (US), Zimmer MedizinSysteme (Germany), Metrum Cryoflex (Poland), Brymill Cryogenic Systems (UK), Erbe Elektromedizin (Germany), CryoConcepts (US), US Cryotherapy (US), Professional Products (US), and Kriosystem Life (Poland).

Driver: Technological Advancements in cryotherapy equipment

Cryotherapy has become an important treatment option, mainly due to the various technological innovations and advancements in cryotherapy equipment over the years. Developments have been observed in various equipment, including cryosurgery units and accessories. Cryochambers and cryosaunas, which are widely used in the treatment of inflammation, rheumatoid arthritis, and pain management, along with general beauty and wellness therapies, have also undergone developmental enhancements. Moreover, cryosurgical equipment has also witnessed significant developments such as the use of supercooled liquid nitrogen or other cryogens for cooling, the introduction of thin and efficient probes which are available in several sizes, and the use of narrow and improved cryoablation needles. For instance, in September 2018, Galil Medical launched the ICEfx cryoablation system, an upgradation to the firms existing Visual ICE system. The new system features an advanced needle platform with helium-free thaw capability, to accelerate thaw-time while eliminating the cost of helium. It is also compact, easily mobilized and simplifies the procedure through a set of user-friendly on-screen prompts.

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