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Cryotherapy Market Growth, Analysis 2028 | Industry Report

Cryotherapy Market Analysis Report By Therapy Type, By Device Type, By Application, By End-use And Segment Forecasts From 2021 To 2028

Report ID: MN17617668  |  Published: August 2021  |  No of Pages: 103
Format: Electronic (PDF)  |  Industry: Medical Devices  |  Publisher: Grand View Research

Synopsis

The global cryotherapy market was prized by USD 3.8 billion in 2020. It is estimated to witness a 10.3% CAGR from 2021 to 2028.

Cryotherapy, occasionally described as cryogenic treatment, is a minimally invasive rehabilitation, which consists of the utilization of exceptionally cold temperatures to demolish unhealthy tissue.

This therapy is extensively utilized in the healing of a range of chronic circumstances, for example, pain, cancer, and arthritis along with skin problems like dark spots, warts, and skin tags. Cryosurgery presents diverse compensations above usual surgical treatments together with lesser threat of complications, fast curing of the wound, smaller cut, slighter surgical wounds as well as pains, and shorter stay in the hospital. These compensations of cryosurgery have caused its augmented acceptance during the previous few years, consequently, maintaining the enlargement of the market.

Drivers

The induction of scientifically highly developed as well as reasonably priced cryotherapy devices plus the rising acceptance of these apparatuses in major regions is expected to considerably stimulate the enlargement of the cryotherapy market.

us-cryotherapy-market

The increasing occurrence of chronic circumstances for example fibromyalgia, cancer, arthritis plus others have powered the demand for efficient cryotherapy resolution for its healing. In addition, growing tactical programs like collaborations, as well as mergers & acquisitions, by the main companies, are expected to generate favorable surroundings for the expansion of the market for cryotherapy, all through the duration of the forecast.

Application Insight

The surgical applications sector held the biggest, 71.0% revenue share and led the cryotherapy market, in 2020. On the source of surgical use, the market is subdivided into dermatology, oncology, cardiology plus others.

Since, this therapy is extensively utilized for the healing of a range of cancers, for example, skin, and prostate, and cervical, oncology led the surgical applications. Therefore, the increasing occurrences of these types of cancers along with the rising wakefulness regarding cryotherapy sourced healing methodology are likely to be the important factors, accountable for its bulky share.

As a consequence of the greater frequency of muscle and joints pain in grown-up people along with the induction of inventive cryotherapy products for their healing, the pain management sector is expected to demonstrate the major expansion.

Device Type Insight

In 2020, the Cryogun division held the biggest, 25.9% revenue share, and led the general cryotherapy market. It is expected to retain its supremacy, during the forecast period. Greater usage of this apparatus in cryotherapy along with the development of the product is between the most important factors adding to the larger share, detained by this division.

As a result of its rising function in pain administration, the cryochambers & cryo saunas sector is expected to nurture by the maximum speed, throughout the forecast period. The demand for cryo-chamber treatment is increasing among the patients, affected by musculoskeletal situations, for example, ankylosing spondylosis, rheumatoid arthritis, and psoriatic arthritis.

Therapy Type Insight

The cryosurgery section held a 64.5% revenue share and led the cryotherapy market, in 2020. Augmented insist for the minimally invasive cryosurgery, intended for the healing of the range of sicknesses for example benign tumors, cancer, plus others, have maintained the enlargement of the section. Chamber therapy and icepack therapy sectors are forecasted to demonstrate healthy development, throughout the forecast period.

Icepack therapy consists of the utilization of chilly temperatures to decelerate the bloodstream and assist to decrease the bulge as well as pain. Principally, the icepack therapy is utilized in support of the administration of arthritis pain, sports injuries, back pain & injuries, and post-surgery swelling.

Chamber therapy includes the utilization of extremely low i.e. approximately -60.0o C to -1100 C temperatures, meant for the administration of pain over and above additional use like beauty treatment as well as leisure. This treatment is suggested for persons, affected by the constant pain owing to some medicinal situations similar to rheumatoid arthritis.

End-Use Insight

Hospitals & specialty clinics division held the major, 43.1% revenue share and dominated the cryotherapy market, in 2020. This outsized share is credited to the reality that hospitals & specialty clinics perform like main centers for cryosurgery. Besides, the rising demand for cryosurgery actions at hospitals & clinics, due to its variety of compensations has, additionally, encouraged the expansion of the segment.

global-cryotherapy-market

The cryotherapy centers division is expected to observe profitable expansion, all through the forecast period. The elevated development of this section can be accredited to the rising business of cryotherapy centers, within the crucial marketplaces.

Regional Insight

In 2020, North America detained the major, 37.4% revenue share and led the global market for cryotherapy. It is expected to uphold the leadership, all through the forecast period. The greater implementation of technically highly developed solutions, entrenched healthcare infrastructure, and positive compensation set up, within the region, has produced its elevated share. The attendance of important local companies along with incessant planned proposals by them is, moreover, expected to encourage the local expansion.

Due to the endorsement and initiation of novel cryotherapy products, within the region, the market in Europe is likely to form a considerable share. For example, the European health officers accepted the utilization of CSA Medical’s arrangement for cryotherapy, intended for the curing of COPD patients, having continual bronchitis.

The Asia Pacific is estimated to observe the maximum enlargement for the period of the forecast. This elevated expansion is accredited to the existence of a vast target populace in rising nations like China and India, along with growing efforts by the top companies to make sure the availability of cryotherapy apparatuses, within these nations.

Companies

The main market contestants are busy in a variety of natural and inorganic tactical advancements, to increase their presented range of products and geographic growth.

Some of the companies for cryotherapy market are:

    • Special Medical Technology Co., Ltd.
    • Cryoalfa
    • Cortex Technology
    • Medtronic
    • Met rum Cryoflex Sp. z oo, Sp.
    • ERBE Elektromedizin GmbH
    • Mectronic Medicale S.r.l.
    • Cooper Surgical, Inc.
    • Cryo Concepts LP
    • Brymill Cryogenic Systems

Report Scope

Report Attribute

Details

The market size value in 2021

USD 4.2 billion

The revenue forecast in 2028

USD 8.4 billion

Growth Rate

CAGR of 10.3% from 2021 to 2028

The base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Therapy type, device type, application, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; Spain; France; Italy; Russia; China; India; Japan; South Korea; Australia; Singapore; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE

Key companies profiled

Brymill Cryogenic Systems; METRUM CRYOFLEX Sp. z oo, Sp.; CryoConcepts LP; Medtronic.; CooperSurgical, Inc.; Cortex Technology; Medtronic Medicale S.r.l.; Cryoalfa; ERBE Elektromedizin GmbH; Special Medical Technology Co., Ltd.

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail of customized purchase options to meet your exact research needs. 

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Million Insights has segmented the global cryotherapy market report on the basis of therapy type, device type, application, end-use, and region:

• Therapy Type (Revenue, USD Million, 2016 - 2028)
    • Cryosurgery
    • Icepack Therapy
    • Chamber Therapy

• Device Type Outlook (Revenue, USD Million, 2016 - 2028)
    • Cryogen
    • Cryo Probes
        • Tissue Contact Probes
        • Tissue Spray Probes
    • Gas Cylinders
    • Localized Cryotherapy Devices
    • Cryochambers & Cryosaunas
    • Others

• Application Outlook (Revenue, USD Million, 2016 - 2028)
    • Surgical Applications
        • Oncology
        • Cardiology
        • Dermatology
        • Other Surgical Applications
    • Pain Management
    • Others

• End-use Outlook (Revenue, USD Million, 2016 - 2028)
    • Hospitals & Specialty Clinics
    • Cryotherapy Centers
    • Spas & Fitness Centers
    • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
        • Russia
    • The Asia Pacific
        • Japan
        • China
        • India
        • South Korea
        • Australia
        • Singapore
    • Latin America
        • Brazil
        • Mexico
        • Argentina
    • Middle East and Africa
        • South Africa
        • Saudi Arabia
        • UAE

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