July 19, 2024

Cryotherapy Market Propelled by Preventive Healthcare Measures

Cryotherapy involves the application of cold gases such as liquid nitrogen to induce cryogenic cooling of the affected body parts such as hands, legs or other parts with an aim to relieve pain. It is increasingly being used to treat muscle pain, inflammation, skin conditions, and other therapeutic treatments. Cryotherapy helps reduce inflammation and enhances circulation. The rising awareness regarding the physical and psychological benefits of cryotherapy is contributing to the growth of preventive healthcare measures worldwide. 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:

The adoption of cryotherapy for preventive healthcare measures is one of the major trends witnessed in the cryotherapy market. Exposure to extreme cold using cryotherapy helps reduce swelling and stimulate blood circulation. There is growing acceptance of cryotherapy among athletes and sports professionals to treat muscle pain and accelerate post-exercise recovery. Regular whole-body cryotherapy sessions boost overall health and reduce stress and inflammation. The widespread promotion of cryotherapy benefits through social media influencers and athletes is raising awareness about its therapeutic applications and driving its demand as a preventive healthcare solution.

SWOT Analysis
Strength: Cryotherapy offers non-invasive treatment for various conditions like pain management, skin conditions and sports injuries with minimum or no side effects. It helps reduce inflammation and swelling rapidly.
Weakness: High initial cost of cryotherapy equipment is a major barrier. Lack of awareness and clinical evidence also limits wide acceptability and adoption.
Opportunity: Rising geriatric population prone to musculoskeletal disorders and injuries creates steady demand. Growing preference for minimally invasive procedures also boosts market.
Threats: Strict regulations and certification requirements hinder entry of new players. Reimbursement issues in some countries pose challenges.

Key Takeaways
The global cryotherapy market is expected to witness high growth.

Regional analysis: The North America region currently dominates the cryotherapy market due to growing elderly population, rising incidence of sports injuries and cancer, supportive reimbursement policies, and technological advancements. The Asia Pacific region is expected to grow at the fastest rate during the forecast period owing to increasing healthcare expenditure, rising medical tourism, growing awareness and adoption of cryotherapy.

Key players operating in the cryotherapy market are Zimmer MedizinSysteme GmbH, Boston Scientific Corporation, 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. The major players are focusing on new product launches, expanding their regional presence and collaborations with healthcare facilities to gain higher market share.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it