Global Cryotherapy Market Growth - CAGR of 8.5% During Forecast Period 2020-2028

Vancouver, British Columbia--(Newsfile Corp. - April 5, 2022) - Global cryotherapy market size was USD 214.9 Million in 2020 and is expected to reach USD 407.5 Million in 2028 registering a revenue CAGR of 8.5%, during the forecast period, according to latest assessment by Emergen Research. Rapid technological advancements in cryotherapy devices and increasing use of cryotherapy to treat skin problems are some key factors driving global cryotherapy market revenue growth.

Whole-body cryotherapy entails use of ultra-cold temperatures that can cause physiological hormonal responses, and causes release of adrenaline, noradrenaline, and endorphins. This has the potential to benefit those suffering from mood disorders such as anxiety as well as depression. According to studies, whole-body cryotherapy proved beneficial in short-term treatments for both.

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Some major companies included in the cryotherapy market report are

Medtronic plc, CryoConcepts LP, Cortex Technology ApS, CooperSurgical, Inc., Mectronic Medicale S.r.l., Kriosystem-Care Sp. z o.o., Metrum Cryoflex Sp. z o.o., Erbe USA, Incorporated, Brymill Cryogenic Systems, and Zimmer MedizinSysteme GmbH

Growth Projections:

Global cryotherapy market is expected to register a CAGR of 8.5% over the forecast period and revenue is projected to increase from USD 214.9 Million in 2020 to USD 407.5 Million in 2028. Rising demand for cryotherapy for treating migraine problems is boosting market revenue growth.

Geographical Outlook:

Asia Pacific cryotherapy market revenue is expected to register a significantly steady CAGR over the forecast period. Asia Pacific cryotherapy market revenue growth is expected to be driven by increasing adoption of cryotherapy products in hospitals and clinics in countries such as China and Japan.

Market Driver:

Increasing use of cryotherapy to treat skin problems is expected to drive revenue growth of the market. Atopic dermatitis is a chronic inflammatory skin disorder, with itching and irritation of the skin. As cryotherapy can increase antioxidant levels in blood while decreasing inflammation, both localized and whole-body cryotherapy can help cure atopic dermatitis. This is expected to increase use of cryotherapy for treating skin problems, which in turn will boost market revenue growth.

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Some Key Highlights From the Report

• Cryochambers and cryosaunas segment revenue is expected to expand at significantly steady CAGR during the forecast period. Growing demand for cryochambers in sports training centers, spas, and beauty parlors is expected to drive revenue growth of the segment.
• Pain management segment is expected to register significantly steady revenue growth rate over the forecast period because of rising prevalence of joint and muscular pain among members of the elderly population as well as launch of advanced cryotherapy solutions for pain management.
• North America market is expected to register considerably faster revenue CAGR than other regional markets owing to rapid development of healthcare infrastructure and increasing prevalence of skin cancer in countries in the region.

Emergen Research has segmented the global cryotherapy market on the basis of product, therapy, application, end-use, and region:

• Product Outlook (Revenue, USD Million; 2018-2028)
  • Localized Cryotherapy Devices
  • Cryosurgery Devices
    1. Cryogun
    2. Tissue Spray Probes
    3. Tissue Contact Probes
    4. Epidermal & Subcutaneous Cryoablation Devices
  • Cryochambers & Cryosaunas
  • Gas Cylinders
  • Others
• Therapy Outlook (Revenue, USD Million; 2018-2028)
  • Icepack Therapy
  • Cryosurgery
  • Chamber Therapy
• Application Outlook (Revenue, USD Million; 2018-2028)
  • Pain Management
  • Surgical
    1. Cardiology
    2. Oncology
    3. Dermatology
  • Health & Beauty
• End-Use Outlook (Revenue, USD Million; 2018-2028)
  • Hospitals & Clinics
  • Spas & Fitness Centers
  • Cryotherapy Centers

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• Regional Outlook (Revenue, USD Million; 2018-2028)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. BENELUX
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

Key Highlights From Table of Content:

Chapter 10. Competitive Landscape

10.1. Market Revenue Share By Manufacturers

10.2. Mergers & Acquisitions

10.3. Competitor's Positioning

10.4. Strategy Benchmarking

10.5. Vendor Landscape

10.5.1. Distributors

10.5.1.1. North America

10.5.1.2. Europe

10.5.1.3. Asia Pacific

10.5.1.4. Middle East & Africa

10.5.1.5. Latin America

10.5.2. Others

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Chapter 11. Company Profiles

11.1. Medtronic plc

11.1.1. Company Overview

11.1.2. Product & Service Offerings

11.1.3. Strategic Initiatives

11.1.4. Financials

11.1.5. Emergen Research Insights

11.2. CryoConcepts LP

11.2.1. Company Overview

11.2.2. Product & Service Offerings

11.2.3. Strategic Initiatives

11.2.4. Financials

11.2.5. Emergen Research Insights

11.3. Cortex Technology ApS

11.3.1. Company Overview

11.3.2. Product & Service Offerings

11.3.3. Strategic Initiatives

11.3.4. Financials

11.3.5. Emergen Research Insights

11.4. CooperSurgical, Inc.

11.4.1. Company Overview

11.4.2. Product & Service Offerings

11.4.3. Strategic Initiatives

11.4.4. Financials

11.4.5. Emergen Research Insights

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