Cryotherapy Market Growth Accelerated by Increasing Adoption of Novel Cryotherapy Methods

 

Cryotherapy is a therapeutic technique that uses extreme cold generated by liquid nitrogen, compressed gas or ice packs to induce localized cooling of body tissues. Cryotherapy has various advantages such as reduced risk of infection, faster recovery time and less discomfort. It is used for applications such as reducing inflammation, swelling and relieving pain associated with conditions like arthritis and minor injuries. The global Cryotherapy Market is estimated to be valued at US$ 294.8 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends: Adoption of innovative methods

The increasing adoption of novel cryotherapy methods such as whole body cryotherapy and cryolipolysis is a major trend fueling the growth of the cryotherapy market. Whole body cryotherapy exposes the entire body to extremely cold temperatures for a short duration to relieve conditions like chronic pain and depression. Cryolipolysis utilizes controlled cooling to selectively destroy fat cells under the skin without damage to surrounding tissues. Growing popularity of these innovative techniques among consumers due to greater effectiveness and convenience is expected to boost market expansion over the forecast period.

Segment Analysis
The global cryotherapy market has three key segments - cryosurgery equipment, tissue contact probes, and tissue spray probes. Tissue contact probes hold the largest market share owing to their flexible and safe application across different tissues. Tissue contact probes can be applied directly to the skin and used to freeze and destroy superficial lesions or other tissues.

Key Takeaways
The global cryotherapy market is expected to witness high growth over the forecast period of 2023-2030. The market size is projected to reach US$ 294.8 Million by 2024, registering a CAGR of 11%.

Regional analysis: North America holds the largest share in the cryotherapy market currently. The widespread adoption of cryotherapy equipment and procedures for sports medicine and dermatological applications drives the market growth in the region. However, Asia Pacific is expected to witness the fastest growth over the next few years owing to rising medical tourism, increasing healthcare spending, and growing adoption of minimally invasive procedures in countries such as China and India.

Key players: Key players operating in the cryotherapy market include Zimmer MedizinSysteme GmbH, Boston Scientific Corporation, and Mectronic Medicale S.r.l., Impact Cryotherapy, C A Manufacturing Sp zoo, Cortex Technology, CooperSurgical Inc., Brymill Cryogenic Systems, Stryker, Cryoswiss GmbH, CryoConcepts LP., Medtronic, METRUM CRYOFLEX Sp. z o.o., CryoBuilt, Inc., Advanced Monitors Corporation, STERIS, DJO, LLC, and Pregna International Limited.

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