Global Cryotherapy Market Size Forecast 2024 - 2033
23 Dec, 2024
What Is The Definition Of The Global Cryotherapy Market?
Cryotherapy is a therapeutic technique that involves exposing the body or specific body parts to extremely low temperatures for a brief period of time. It is commonly used to alleviate pain, reduce swelling, accelerate healing, improve recovery after exercise or injury, and enhance athletic performance.
Cryotherapy Global Market Report 2024 provides data on the global cryotherapy market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cryotherapy market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Market Size And Growth Rate Of The Global Cryotherapy Market Projected?
The cryotherapy market has grown rapidly, from $7.54 billion in 2023 to $8.32 billion in 2024 at a CAGR of 10.3%. Past growth was driven by the rising prevalence of cancer, growing preference for minimally invasive techniques, expanded cryosurgery applications, increased popularity in sports and fitness, and demand for non-invasive procedures. By 2028, the market is projected to grow to $12.46 billion at a CAGR of 10.6%, supported by the rise in non-invasive procedures, product launches, affordable equipment, and an increasing focus on diverse applications. Emerging trends include technological advancements in devices, innovative product offerings, and healthcare-driven adoption.
What Are The Primary Growth Drivers In The Cryotherapy Market?
The increasing prevalence of non-invasive and minimally invasive procedures is expected to drive the growth of the cryotherapy market. Non-invasive and minimally invasive procedures are medical interventions that minimize disruption to the body’s normal functions, resulting in fewer risks, faster recovery, and less pain. Cryotherapy, being non-invasive, is a popular alternative to traditional surgeries for treating various medical conditions and cosmetic concerns. For example, The Aesthetic Society reported that in 2022, the number of minimally invasive cosmetic procedures in the US reached 23.7 million, up by 70% from 2021. With Americans spending over $11.8 billion on aesthetic procedures, this increasing preference for non-invasive treatments is propelling the cryotherapy market.
Get Your Free Sample of the Global Cryotherapy Market ReportWhat Is The Segmentation Of The Global Cryotherapy Market?
The cryotherapy market covered in this report is segmented –
1) By Therapy Type: Cryosurgery, Icepack Therapy, Chamber Therapy
2) By Device: Cryosurgery Device, Localized Cryotherapy Device, Cryochambers And Cryosaunas, Cryogun
3) By Application: Surgical Applications , Oncology, Dermatology, Cardiology
4) By End-user: Hospitals And Specialty Clinics, Cryotherapy Centers, Spas And Fitness Centers
What Emerging Trends Are Shaping The Cryotherapy Market Landscape?
Leading companies in the cryotherapy market are developing innovative disposable cryocare devices, such as the Isolis cryoprobe, to enable precise tissue freezing and destruction. The Isolis cryoprobe is a disposable device designed for single-use or has a limited lifespan before being discarded. For example, in May 2023, Varian Medical Systems, a US-based medical device company, launched the Isolis cryoprobe, designed for use with cryoCare systems to enhance precision and efficiency in cryoablation procedures. The Isolis cryoprobe offers greater control for interventional radiologists with a sharp, small 2.1mm/14-gauge shaft for easy and precise installation. It is the first cryoprobe compatible with Siemens Healthineers' myNeedle Laser guidance system and can be used in various surgical fields such as general surgery, urology, gynecology, oncology, neurology, dermatology, ENT, proctology, pulmonary surgery, and thoracic surgery to freeze and ablate tissues at extremely low temperatures.
Which Region Has The Fastest Expansion In The Cryotherapy Market?
North America was the largest region in the cryotherapy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cryotherapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.