Global Cryotherapy Market, by Product Type (Cryosurgery Devices (Cryo Probes and Cryoablation Devices), Localized Cryotherapy Devices, and Cryochambers & Cryosaunas), by Application (Cancer, Cardiovascular Diseases, Dermatologic Disorders, Pain Management, and Others), by End User (Hospitals & Specialty Clinics, Cryotherapy Clinics, and Spas & Fitness Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 246.8 Mn in 2021 and is expected to exhibit a CAGR of 9.0% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.

Growing technological development in cryotherapy devices is expected to propel the growth of cryotherapy market during the forecast period. For instance, in June 2021, Zimmer MedizinSystems a U.S. based medical devices company, introduced localized Cryo 6 a localized cryotherapy device. It targets areas that may be inflamed due to conditions related to aging, sports injuries, athletic workouts, and others. The device has transitional change from nitrogen-based technology to All-Natural Z Cryo for localized treatment. The device takes in regular room air and chills it to temperatures as low as -30°C (-22°F). Cryo 6 decreases the skin temperature quicker, with a lower risk of skin burns and keeps a constant dosage throughout the entire treatment.

In addition, the increasing launch of new cryotherapy devices is expected to drive the market growth during the forecast period. For instance, in January 2019, Quantum Cryogenics, a Devon-based cryogenic control company, launched a whole body cryotherapy chamber as part of its new Quantum Cryotherapy venture. The whole body cryotherapy plunges includes subjecting the whole human body to around -130 degrees Celsius for up to three minutes.

Global Cryotherapy Market– Impact of Coronavirus (COVID-19) Pandemic

The World Health Organization (WHO) on January 30, 2020 declared COVID-19 outbreak a public health emergency of international concern. COVID-19 has affected around 210 countries across the globe. Due to the COVID-19 pandemic, governments across the globe announced country-wide lockdowns as well as social distancing measures to prevent collapse of the healthcare system.

In addition, delivering of essential healthcare services for cancer patients during the initial phase of the pandemic was challenging given the competing risks of death from cancer or serious complications from SARS-CoV-2. The initial phase of the pandemic was marked by various lockdown measures which restricted the visiting of cancer patients to hospitals which eventually hampered the market growth.

Browse 20 Market Data Tables and 25 Figures spread through 222 Pages and in-depth TOC on “Global Cryotherapy Market”-  Forecast to 2028, Global Cryotherapy Market, by Product Type (Cryosurgery Devices (Cryo Probes and Cryoablation Devices), Localized Cryotherapy Devices, and Cryochambers & Cryosaunas), by Application (Cancer, Cardiovascular Diseases, Dermatologic Disorders, Pain Management, and Others), by End User (Hospitals & Specialty Clinics, Cryotherapy Clinics, and Spas & Fitness Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in the Global Cryotherapy Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/cryotherapy-market-133

Key Takeaways of the Global Cryotherapy Market:

  • The global cryotherapy market is expected to exhibit a CAGR of 9.0% during the forecast period, owing to increasing approvals for cryotherapy treatments. For instance, in September 2017, CSA Medical, a leader in endoscopic cryo-ablation, received the United States Food and Drug Administration (U.S. FDA) for TruFreeze Cryotherapy system. The system is used for patients with Barrett’s esophagus with low grade dysplasia. The TruFreeze system is designed for use in dermatology, gynaecology, general surgery, and to ablate benign and malignant lesions.
  • Among product type, cryosurgery devices segment is expected to witness fastest growth in the global cryotherapy market over the forecast period, as key market players are receiving license for cryosurgery devices. For instance, in August 2019, BTG International a healthcare company received Health Canada Medical Device License for the ICEfxCryoablation System. The ICEfx Cryoablation System is a compact design for use by interventional radiologists that provides a minimally invasive alternative procedure for patients with certain cancers.
  • Among application, cancer segment is expected to witness fastest growth over the forecast period in the global cryotherapy market, owing to increasing adoption of cryoablation for cancer treatment. For instance, in October 2021, an Austin doctor performed cryoablation for the treatment of breast cancer. According to Dr. Choudhry, an Austin doctor, cryoablation can be used as a standalone therapy for the treatment of early stage or very small tumors.
  • Among end user, cryotherapy clinics segment is expected to witness fastest growth during the forecast period in the global cryotherapy market, owing to increasing popularity of localized and whole body cryotherapy treatments in clinics. For instance, according to WebMD LLC, a healthcare information portal, states that whole-body cryotherapy is a rising trend at clinics and wellness centers. Along with speeding recovery, people are promoting cryotherapy for relieving arthritis, asthma, anxiety, and skin related problems.
  • Among regions, Europe is expected to exhibit highest CAGR in the global cryotherapy market growth over the forecast period, owing to the approval and launch of innovative cryotherapy products. For instance, in December 2019, CSA Medical Inc. received CE Mark approval for RejuvenAir System. It is a cryotherapy system which is used for the treatment of chronic obstructive pulmonary disease (COPD) patients. The system utilized metered sprayed liquid nitrogen at -196 C to the parts of the lungs by a minimally invasive bronchoscopic process. The cold flash in metered spray freezes damaged lung cells which rejuvenates healing process.
  • Major players operating in the global cryotherapy market include Zimmer MedizinSystems, Boston Scientific Corporation, Mectronic Medicale S.r.l., Impact Cryotherapy, CryoAction Limited, Cortex Technology, CooperSurgical Inc., Brymill Cryogenic Systems, Stryker, Cryoalfa, CryoConcepts LP, Medtronic PLC., Metrum Cryoflex, and CryoBuilt, Inc.

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