by The global Cryotherapy Market is estimated to be valued at US$ 294.8 Million 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 Overview:
Cryotherapy involves localized exposure of body parts to extremely cold temperatures for therapeutic purposes. Cryotherapy is commonly used for conditions such as common warts, local pain relief, arthritis, and skin conditions by slowing nerve impulses and reducing inflammation. The cooling temperatures help in eliminating minor skin lesions, relieving muscle and joint pain, reducing wrinkles and fine lines on the skin and boosting cardiovascular health.
Market key trends:
The increasing preference for minimally invasive cosmetic and medical procedures is expected to boost the growth of cryotherapy market over the forecast period. Cryotherapy is gaining popularity owing to its non-invasive nature and faster recovery time. Moreover, rising awareness about the various health benefits associated with cryotherapy such as weight loss, wrinkle reduction and inflammation relief is expected to fuel the market growth during the forecast period. Cryotherapy is rapidly gaining popularity for its potential health benefits. One of the key trends in cryotherapy is its use for pain management and reducing inflammation. Subjecting the body to extreme cold using cryotherapy machines has been found to help reduce pain, soreness, and inflammation after injury or strenuous activity. More athletes and fitness enthusiasts are adopting cryotherapy to aid in muscle recovery and reduce joint pain.
SWOT Analysis
Strengths: Cryotherapy offers non-invasive and drug-free pain relief. It provides an alternative to medication for pain management.
Weaknesses: Lack of awareness about the benefits of cryotherapy. Safety concerns regarding extreme temperatures used.
Opportunities: Growing popularity of wellness therapies creates scope for wider adoption of cryotherapy. Use for other applications like skin rejuvenation presents business opportunities.
Threats: Stringent regulations for medical devices. High setup and maintenance costs of cryotherapy equipment limit accessibility.
Key Takeaways
The Global Cryotherapy Market Size is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing use cryotherapy for pain management and prevention of sports injuries.
Regional analysis: North America currently dominates the cryotherapy market owing to rapid adoption of advanced therapies and greater awareness among people. However, the Asia Pacific region is expected to exhibit the fastest growth over the coming years led by countries like China, India, and Japan.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
