Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Europe Cryochambers Market – Insights
Cryotherapy is an approach that uses a method of localized freezing temperatures to deaden an irritated nerve. It finds application in the treatment of localized areas of some cancers and in diseases related to skin. Cryochambers or cryotherapy chambers are units, which use liquid nitrogen, liquid synthetic air or cooling units for cryogenic application.
Europe cryochambers market is estimated to account for US$ 53.1 Mn in terms of value in 2019 and is expected to reach US$ 76.5 Mn by the end of 2027.
Europe Cryochambers Market: Drivers
Wide application of cryotherapy is expected to propel growth of Europe cryochambers market over the forecast period. For instance, cryotherapy can be used in the treatment of migraines, nerve irritation, mood disorders, arthritic pain, low-risk tumors, dementia and Alzheimer’s disease, and atopic dermatitis and other skin conditions.
Moreover, increasing adoption of cryotherapy by athletes is also expected to aid in growth of the market. For instance, in February 2020, RANGERS FC, a Scottish professional football club, chose CryoAction as its official cryotherapy supplier for the Scottish Premier League.
Poland held dominant position in Europe cryochambers market in 2018, accounting for 18.0% share in terms of value, followed by 2027.
Europe Cryochambers Market: Restraints
Confliction in evidence to safety and efficacy of cryotherapy is expected to hinder growth of Europe cryochambers market. There is limited evidence regarding the safety and efficacy of cryotherapy. Claims for the application of cryotherapy in weight loss, sleep disorders, depression stress & anxiety, Alzheimer’s disease, migraines, and fibromyalgia are unsupported due to lack of sufficient data to prove the efficacy of the therapy.
Moreover, lack of fully evolved regulatory pathway is also expected to hamper the market growth. Regulatory pathways for the approval of whole body cryotherapy chambers are not yet developed in Europe, which primarily restricts the widespread use of these devices.
Europe Cryochambers Market: Opportunities
Increasing incidence of sports injuries is expected to offer a lucrative growth opportunities for players in the market. For instance, in November 2018, the study, ‘Results on sports-related injuries in children from NHS emergency care dataset Oxfordshire pilot: an ecological study’, children aged between 0–19 years accounted for 47.4% of sports injury-related emergency department attendances and around 23.5% of sports injury-related admissions for all ages.
Use of liquefied gases such as oxygen, nitrogen, and carbon dioxide require periodic refilling or replacement of gas cylinders. Therefore, manufacturers may focus on developing cryotherapy devices that can use surrounding air as a cooling agent.
Cryochambers segment in Europe cryochambers market was valued at US$ 31.3 Mn in 2018 and is expected to reach US$ 49.4 Mn by 2027 at a CAGR of 5.4% during the forecast period.
Market Trends/Key Takeaways
Majority of the players in the market are providing mobile cryotherapy services to end users such as sports clubs and hospitals. For instance, BOC offers fully mobile whole-body cryotherapy chambers in the U.K.
Cryotherapy can be used to reduce cellular inflammatory infiltrate and fibrosis. Moreover, spray cryotherapy can be used to decrease inflammation, edema, and goblet cell hyperplasia.
Europe Cryochambers Market: Competitive Landscape
Major players in Europe cryochambers include, Zimmer MedizinSysteme GmbH, KrioSystem Sp. z.o.o, Air Products and Chemicals, Inc., CSA Medical, Inc., METRUM CRYOFLEX Sp. z o.o., Sp. K., Novotech S.R.O, CryoAction Limited, JUKA SP. Z.O.O. SP.K., Cryosense, and CRYO Science.
Europe Cryochambers Market: Key Developments
Major players in the market are focused on product approval and launch to expand their product portfolio. For instance, in December 2019, CSA Medical, Inc. received CE Mark approval for its RejuvenAir System, which applies metered cryospray of liquid nitrogen, for the treatment of chronic obstructive pulmonary disease with chronic bronchitis.
Major players in the market are also focused on adopting partnership strategies to expand their product portfolio. For instance, in November 2019, iCRYO Cryotherapy, a cryotherapy franchise, partnered with CRYO Science. Under the partnership, CRYO Science will manufacture iCRYO Cryotherapy’s cryotherapy chambers.