What Has Been the Progress and Growth of the Cryotherapy Market in Recent Years?
The cryotherapy market has seen considerable growth due to a variety of factors.
• The size of the cryotherapy market has seen a swift expansion in the past few years. The projection is that it will escalate from $8.32 billion in 2024 to $9.21 billion in 2025, boasting a compound annual growth rate (CAGR) of 10.7%.
This augment during the past period could be credited to factors such as an increased occurrence of cancer, a growing preference for procedures that are minimally invasive, the broadening utilisation of cryosurgery, a mounting favor for cryotherapy in sports and fitness activities, along with a rising penchant for minimally or non-invasive procedures.
What Can Be Expected from the Cryotherapy Market Size?
The cryotherapy market is expected to maintain its strong growth trajectory in upcoming years.
• The market for cryotherapy is projected to undergo swift expansion in the upcoming years, with its valuation anticipated to reach $13.77 billion by 2029 at a compound annual growth rate (CAGR) of 10.6%.
This surge during the prediction period is due to a rise in non-invasive and minimally invasive operations, an increase in product introductions, affordable cryotherapy devices, the escalated use of cryotherapy instruments, and an augmented emphasis on widening cryotherapy applications. Notable trends during this period include progress in cryotherapy equipment technology, the launch of new products, the penetration of advanced cryotherapy, and improvements in healthcare.
What Are the Critical Driver Fuelling The Cryotherapy Market's Growth?
The cryotherapy market is expected to experience an upsurge owing to the growing prevalence of non-invasive and minimally invasive procedures. These procedures offer diagnoses, treatments, or management of various health conditions with least disruption to the body's natural structure and functionality. The rise in demand for such procedures can be attributed to lowered risks and complications, quicker recovery times, minimal interruptions to daily life, and less overall discomfort. Cryotherapy ticks all these boxes as it's a non-invasive solution for a range of medical and cosmetic issues. Therefore, it's a preferred choice for those looking for less intrusive options than regular surgery. For example, The Aesthetic Society, an American plastic surgery and cosmetic medicine body, revealed that the total number of minimally invasive cosmetic procedures in the USA stood at 23.7 million in 2022, marking a 70% increase from 2021. Additionally, American expenditure on aesthetic procedures rose by 2% from the previous year, exceeding $11.8 billion. Consequently, the growing tide of non-invasive and minimally invasive procedures is fuelling the advancement of the cryotherapy market.
How Is The Cryotherapy Market segmented?
The cryotherapy market covered in this report is segmented –
1) By Therapy Type: Cryosurgery, Icepack Therapy, Chamber Therapy
2) By Device: Cryosurgery Device, Localized Cryotherapy Device, Cryochambers And Cryosaunas, Cryogun
3) By Application: Surgical Applications , Oncology, Dermatology, Cardiology
4) By End-user: Hospitals And Specialty Clinics, Cryotherapy Centers, Spas And Fitness Centers
Subsegments:
1) By Cryosurgery: Tumor Treatment, Skin Lesion Treatment, Cryoablation for Cardiac Arrhythmia, Cryoneurolysis For Pain Management, Cryosurgery For Eye Disorders
2) By Icepack Therapy: Cold Compress For Injury Recovery, Post-Surgical Ice Therapy, Sports Injury Treatment, Pain and Inflammation Reduction, Swelling Control
3) By Chamber Therapy: Whole-Body Cryotherapy, Localized Cryotherapy, Cryofacials, Cryotherapy for Muscle Recovery, Cryotherapy for Skin Rejuvenation, Cryotherapy For Pain Relief And Inflammation
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What New Trends Are Influencing The Cryotherapy Market?
Leading corporations in the cryotherapy market are revolutionizing the sector by creating innovative disposable devices such as the Isolis cryoprobe for precise freezing and destruction of targeted tissues. This disposable cryoprobe is designed for a single use or has a limited lifespan before it needs to be thrown away. For example, in May 2023, Varian Medical Systems, a medical device enterprise based in the US, introduced the Isolis cryoprobe - a one-time-use device created for cryoCare systems with the aim of enhancing procedural accuracy and efficiency. The latest Isolis cryoprobe provides radiologists with superior control and features that boost predictability, precision, and productivity. It comes with a small 2.1mm/14-gauge shaft and a sharp probe tip for simple and accurate placement. Isolis is the pioneer cryoprobe to potentially integrate with the myNeedle Laser guidance system from Siemens Healthineers. It can be utilized in a plethora of surgical procedures like general surgery, gynecology, urology, oncology, neurology, dermatology, ENT, proctology, pulmonary and thoracic surgery, as it facilitates the freezing and ablation of tissues at extremely cold temperatures.
Who Are the Key Players In The Cryotherapy Market?
Major companies operating in the cryotherapy market are:
• Medtronic Plc
• Stryker
• Boston Scientific Corporation
• CooperSurgical Inc.
• Erbe Elektromedizin GmbH
• Quantum Cryogenics
• Zimmer MedizinSysteme GmbH
• CryomedPro
• CryoConcepts LP
• Brymill Cryogenic Systems
• US Cryotherapy
• Cortex Technology
• Impact Cryotherapy
• MECOTEC GmbH
• CryoBuilt Inc.
• Cryomachines Inc.
• IceCure Medical Ltd.
• Cryoalfa
• Galil Medical Inc.
• CRYO Science
• Titan Cryo.
What Is The Most Dominant Region In The Cryotherapy Market?
North America was the largest region in the cryotherapy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cryotherapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
