Global Cryotherapy Market Size and Forecast to 2030

The global cryotherapy market is likely to expand with a revenue of more than USD 4 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of ~12% from 2022 to 2030. Cryotherapy, sometimes called cryotherapy, is a minimally invasive treatment that involves the use of extremely cold temperatures to destroy diseased tissue. Cryotherapy is widely used to treat various chronic diseases such as cancer, arthritis, pain and skin diseases such as warts, skin tags and dark spots. Compared with traditional surgery, cryosurgery has many advantages, including smaller incisions, shorter hospital stays, faster wound healing, less pain and surgical wounds, and lower risk of complications. In recent years, these advantages of cryosurgery have made it more and more adopted, thus supporting the growth of its market.

The introduction of technologically advanced and reasonably priced cryotherapy equipment and the increasing use of such equipment in key areas are expected to significantly drive market growth. In May 2020, CryoBuilt, a manufacturer of whole body cryotherapy systems, launched EVEREST, an advanced and affordable product line of whole body cryotherapy rooms. In May 2019, Cryo Innovations obtained contract approval from the Federal General Services Administration (GSA) to provide whole body cryotherapy solutions for the U.S. Armed Forces or any government agency.

In addition, the increasing prevalence of chronic diseases such as cancer, arthritis, and fibromyalgia has also driven the demand for effective cryotherapy solutions for their treatment. According to data released by the International Agency for Research on Cancer (IARC), there were 17 million new cancer cases worldwide in 2018, resulting in approximately 9.5 million deaths. The same source also stated that by 2040, this number is expected to increase to 27.5 million new cancer cases each year.

In addition, the rise of strategic initiatives such as mergers, cooperation and acquisitions by major players may create a favorable environment for the market. Growth during the forecast period. For example, in June 2019, Varian Medical Systems, Inc. acquired Endocare and Alicon to expand its comprehensive cancer care solutions portfolio. After this acquisition, Varian has expanded its product portfolio with Endocare;s Cryocare CS system, a fully integrated treatment system designed to simplify cryotherapy. This strategic acquisition helped Varian enhance its position in the oncology field.

INFORMATION ON TREATMENT TYPE :

The cryosurgery sector will dominate the market in 2021, with a revenue share of more than 60%. There is an increasing demand for minimally invasive cryosurgery for the treatment of various diseases such as cancer and benign tumors. It supports the growth of market segments. Cryosurgery can destroy abnormal cells or tissues while protecting healthy tissues. Compared with traditional procedures, this procedure has limited side effects, so it helps to recover faster.

It is expected that the packaging treatment and chamber treatment parts will show strong growth in the prophase period. Ice pack therapy involves the use of cold temperatures to slow blood flow and help reduce pain and swelling. Ice pack therapy is mainly used to treat arthritis pain, post-operative swelling, back injuries, back pain and sports injuries. Indoor therapy involves the use of very low temperatures, about -60°C to -110°C, for pain management and other applications such as relaxation and beauty treatments. This therapy is suitable for people who suffer from chronic pain due to any disease such as rheumatoid arthritis. Create Beautiful Bodies Blvd (CBB BLVD) provides Brisbane cryotherapy room, which is a whole body freezer that has benefits such as muscle healing, pain relief, reducing anxiety and inflammation, preventing dementia, improving eczema symptoms and helping to treat headaches.

EQUIPMENT TYPE INFORMATION:

The cryogenic pistol segment dominates the entire market, with the highest revenue share in 2020 at 22%, and it is expected to maintain its dominant position throughout the forecast period. The extensive use of this equipment in cryotherapy and product improvement is one of the main factors leading to a larger share of this market segment. In addition, the high incidence of cancer and skin diseases is also expected to become an important factor driving the demand for cryoguns.

On the other hand, due to the increasing application of freezer compartments and freezer compartments in pain management, it is expected to increase at the highest rate during the forecast period. Patients with musculoskeletal diseases (such as rheumatoid arthritis, psoriatic arthritis, and ankylosing spondylitis) have a growing demand for cryo-chamber treatment. In addition, the growing demand for cryogenic chambers in sports training facilities, spas and beauty centers further supports the growth of this segment.

APPLICATION INFORMATION:

The surgical application field occupies a leading position in the market, with the largest revenue share in 2020 at 68%. According to surgical applications, the market is segmented into oncology, cardiology, dermatology and others. Oncology dominates the field of surgical applications because cryotherapy is widely used in the treatment of prostate cancer, cervical cancer, and skin cancer.

Therefore, it is expected that the increasing prevalence of these cancers and the increasing awareness of cryotherapy-based treatment methods will be important factors leading to their massive participation. Due to the high prevalence of joint and muscle pain in adults and the introduction of innovative cryotherapy products for treatment, significant growth in the pain management sector is expected. As of April 2019, U.S.-based Omax Health, Inc. The new CryoFreeze CBD pain relief rolling product was launched as part of its cryotherapy sports product portfolio.

END - USE INSIGHTS:

Hospitals and specialty clinics lead the market and will account for the largest revenue share in 2020, at ~40%. This large share is attributed to the fact that hospitals and specialist clinics are the main centers of cryosurgery. In addition, due to the various advantages of hospitals and clinics, the demand for cryosurgery continues to increase, which further supports the growth of market segments. According to a study published by the National Library of Medicine of the National Institutes of Health in July 2017, cryosurgery is safer, less invasive, and targeted to cancer cells with almost no complications.

The cryotherapy center part is expected to achieve lucrative growth during the forecast period. The rapid growth of this segment can be attributed to the increasing number of cryotherapy centers in the main markets. For example, in January 2021, Cryo @ Wolf established a new cryotherapy center in Georgetown, Texas. This newly opened center provides whole body cryotherapy to reduce inflammation, pain and weight.

REGIONAL INSIGHTS:

North America dominates the cryotherapy market, with the highest revenue share in 2020 at ~30%, and is expected to maintain its leading position throughout the forecast period. The well-developed medical infrastructure, favorable reimbursement programs, and the high adoption of technologically advanced solutions in the region have led to a high level of participation. In addition, the local presence of major players and their continued strategic initiatives may also support regional growth.

In Europe, due to the approval and launch of innovative cryotherapy products in the region, this market is expected to occupy an important share. For example, in December 2019, European health officials approved the use of the CSA medical system for cryotherapy for the treatment of patients with chronic bronchitis and COPD. The Asia-Pacific region is expected to achieve the highest growth during the forecast period. This high growth is attributed to the large number of target populations in emerging countries such as India and China, as well as the increased efforts of major players to ensure the availability of cryotherapy equipment in these countries.

MAJOR COMPANIES AND MARKET SHARE PROSPECTS:

Major market players participate in various strategic inorganic and organic developments to expand their existing product portfolio and geographic expansion. In January 2019, Quantum Cryogenics launched CryoQube as part of its new venture. This product provides cold air that has previously been cooled with liquid nitrogen. Some of the major players in the cryotherapy market include: Brymill Cryogenic Systems Metrum Cryoflex Sp. Z oo, Sp. CryoConcepts LPMedtronicCooperSurgical, Inc. Cortex TechnologyMectronic Medicale S.r.l. CryoalfaERBE Elektromedizin GmbHSpecial Medical Technology Co., Ltd.

THE PART COVERED IN THE REPORT:

this report forecasts global, regional and national revenue growth, and analyzes the latest industry trends in each sub-segment from 2021 to 2030. For the purpose of this research,Kenneth Research has segmented the global cryotherapy market report by treatment type, device type, application, end use and region: Type of treatment (revenue, USD million, 2021 to 2030) Cryosurgery The outlook of treatment kit treatment room treatment equipment types (revenue, million dollars, 2016-2028) CryogunCryo Probes Tissue Contact Probes Tissue spray probe gas cylinder local cryotherapy equipment cryobox and other application prospects of cryotherapy apparatus (revenue, million dollars, 2021 to 2030) Surgical Applied Oncology and Cardiology Center Others.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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