Cryotherapy Market Introduction & Overview

Cryotherapy, also known as cold therapy, can be used to treat a variety of tissue lesions, relieve muscle pain, sprains, and swelling due to soft tissue damage and surgeries. The treatment of cryotherapy involves the use of freezing or near-freezing temperatures. Liquid nitrogen, carbon dioxide, argon, and dimethyl ether-propane are mainly employed in cryotherapy. These gases are used externally with the help of sprays or cotton swabs and through cryoprobes in internal surgeries wherein these gases are applied to the targeted cells. MRI and ultra sound are used to trace tumors and monitor procedures. Moreover, cryotherapy is most commonly used for surgical treatment, specifically known as cryosurgery or cryoablation. Cryosurgery or cryoablation involves the application of extremely low temperatures to destroy abnormal or diseased tissues and is used most commonly to treat skin conditions.

The growth of the global cryotherapy market can be attributed to the rising demand for minimally invasive surgical procedures, increasing incidents of sports injuries, technological advancements, growing popularity in beauty, wellness, and fitness industries, and cardiac as well as cancer conditions. Moreover, growing R&D to expand the application areas of cryotherapy will further boost the market growth. However, the lack of awareness and limited access to cryotherapy is likely to restrain market growth.

The global cryotherapy market has been segmented into product, application, end user, and region.

Cryotherapy Market By Product

Based on product, the market can be segmented into localized cryotherapy devices, cryosurgery devices, and cryochambers & cryosaunas. In 2019, the cryosurgery devices segment held the largest market share owing to the advantages offered by cryosurgery devices such as fewer side effects and greater affordability.

Cryotherapy Market By Application

Based on application, the market can be segmented into pain management, surgical applications, and recovery, health, and beauty applications. Cryotherapy is extensively used for the treatment of health conditions such as pain, malignant & benign tumors, tissue damages or lesions, and sports injuries. In 2019, the surgical applications segment held the largest market share. The large share of this segment can be attributed to the high adoption of cryoablation in cancer treatment as well as the advantages offered by this technique over traditional surgery.

Cryotherapy Market By End User

Based on end-user, the cryotherapy market can be classified into hospitals & specialty clinics, spas &fitness centers and cryotherapy centers. Hospitals and specialty clinics are expected to grow at a high CAGR owing to factors such as availability of latest technologies and machines and increasing usage in varied medical treatments.

Cryotherapy Market By Region

The global cryotherapy market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). In 2019, North America held the largest market share and will continue its dominance during the forecast period. The large market share of North America in the globalcryotherapy market can be attributed to the growing popularity of cryotherapy, rising prevalence of cancer, increase in sports &physical activity-related injuries and the rising prevalence of CVDs.

Cryotherapy Market Prominent Players

The prominent players in the globalcryo therapy market are Medtronic Plc, Galil Medical, Cooper Surgical Inc, Zimmer Medizin Systeme GmbH, METRUM CRYOFLEX, Brymill Cryogenic Systems, Erbe Elektromedizin GmbH, CryoConcepts, US CRYOTHERAPY, Kriosystem-Careand others.