Global Cryotherapy Market By Type (Whole Body Cryotherapy, Partial Body Cryotherapy, Internal Cryotherapy, Others), Products (Cryosurgery Devices, Localized Cryotherapy Devices, Cryochambers and others), Applications (Cancer, Pain Management, Dermatology, Others), End Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Global cryotherapy market is rising gradually with a substantial CAGR of 9.4% in the forecast period of 2019-2026. The rising incidence of cancer and sport injuries, rising demand of minimal invasive therapies and technology advancement in cryotherapy equipment are major drivers of the market growth.
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Key Market Players:
Few of the major competitors currently working in the global cryotherapy market are Quantum Cryogenics, Pacira BioSciences, Inc., , AtriCure, Inc., BTG International Ltd., ., METRUM CRYOFLEX Sp. z o. o. Sp. K., Brymill Cryogenic Systems, Kriosystem – Care Sp. z o.o., US CRYOTHERAPY, CryoConcepts LP , Erbe Medical India Pvt Ltd, Zimmer MedizinSysteme GmbH, Medtronic, Cortex Technology, , Special Medical Technology Co., Ltd., CooperSurgical Inc., Sanarus, PHYSIOMED AG, Cryomed s.r.o. CryosaunasCryoTherapeutics, CSA Medical, Inc. among others.
Global cryotherapy market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cryotherapy market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Developments in the Market:
- In March 2019, Pacira BioSciences, Inc. acquired MyoScience, Inc. This acquisition gives Pacira BioSciences, Inc., rights on iovera, a cryotherapy technology medical device used for non-opioid pain treatment. This acquisition also includes Exparel (bupivacaine), a local anaesthetic. The company is planning to develop a combination cryotherapy of iovera and exparel
- In January 2019, Quantum Cryogenics launched CryoQube, the world’s first ‘indirect’ whole body cryotherapy chamber. This cryotherapy chamber is different from other cryotherapy chambers as it does not include direct exposure of liquid nitrogen which is why it is an ‘indirect’ cryotherapy chamber. The use of CryoCube will benefit in recovery of muscle injury and enhancing the performance in sports
Market Definition: Global Cryotherapy Market
Cryotherapy is also called cold therapy. It is a technique of exposure of targeted regions of body to an extremely cold environment. This therapy can be applied on targeted spots and whole body also. Cryotherapy is majorly used in treatment of some cancers such as prostate cancer and pain treatment. Additionally, cryotherapy is also used in treatment of abnormal skin cells.
As per the retrospective data, approximately 87% of dermatologists practice cryotherapy. In treatment of basal cell carcinoma, the application of cryotherapy reduces the rate of recurrence up to 7.5% for approximately 5 years. The application of cryotherapy is wide and useful according to the treatment module required.
- Rising incidence of cancers and sports injuries acts as a market driver
- Increasing demand of minimally invasive procedures also acts as a factor boosting the growth of this market in the forecast period
- Prevailing technological advancements in cryotherapy equipment is another factor uplifting the market growth
- Increasing popularity in the beauty, wellness, and fitness is spurring the growth of this market
- Stringent regulations regarding product approval acts as a restricting factor for this market growth
- Usage of hazardous cryogenic gases used in several cryotherapies will also impede the market growth
- Lack of awareness about the benefits of cryotherapy hinders the market growth
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Segmentation: Global Cryotherapy Market
- Whole Body Cryotherapy
- Partial Body Cryotherapy
- Internal Cryotherapy
- Cryosurgery Devices
- Localized Cryotherapy Devices
- Pain Management
By End Users
- Specialty Clinics
By Distribution Channels
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
Reasons to Purchase this Report
- Current and future of global cryotherapy market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
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