New York, United States , May 22, 2023 (GLOBE NEWSWIRE) -- The Global Cryotherapy Market Size to grow from USD 7.01 Billion in 2021 to USD 12.34 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 7.27% during the forecast period.
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Cryotherapy is a medical technique used to treat a variety of medical conditions, including pain, tumours both benign and cancerous, tissue damage, and sports injuries. Cryotherapy, commonly referred to as cryosurgery, is a pain treatment technique that uses specific freezing temperatures to kill irritated nerves, abnormal skin cells, or localised areas of different malignancies, including skin cancer and prostate cancer. By putting a probe into the tissue nearby the injured nerve, cryotherapy freezes the area. The nerve is rendered inactive by the freezing, reducing the nerve's painful discomfort. Cryotherapy can successfully and safely treat localised nerve irritation.
In the realm of aesthetics and beauty, cryotherapy has grown in favour. In reality, it has gained popularity among athletes and celebrities as a new trend. All of these elements are projected to accelerate market expansion. In addition, the increase in minimally invasive and non-invasive treatments conducted each year is propelling the market globally. The demand for minimally invasive and non-invasive procedures is rising dramatically as a result of consumers' growing preferences for enhancing physical attributes and treating skin conditions. In addition, cryotherapy equipment's scientific advancements are driving the market. With cryotherapy's advancements and other technical improvements, it has become a significant treatment alternative.
The market for cryotherapy isn't expanding as quickly as it should because of a shortage of skilled workers including nurses, doctors, and other medical experts. Additionally, the market's expansion is being hampered by the limited availability of cryotherapy and a lack of consumer awareness.
Browse key industry insights spread across 200 pages with 125 market data tables and figures & charts from the report on "Global Cryotherapy Market Size, Share, and COVID-19 Impact Analysis, By Therapy Type (Cryosurgery, Chamber Therapy), By Device Type (Cryo Chamber, Cryo Probe), By Application (Fitness, Cold Storage), By End-use (Hospitals and Specialty Climics, Cryotherapy Centers, Spas and Fitness Centers, Others), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030". Get Detailed Report Description Here:
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Cryosurgery segment is dominating the market with the largest market share
On the basis of therapy type, the global cryotherapy market is segmented into cryosurgery and chamber therapy. Among these, the cryosurgery segment is dominating the market with the largest market share over the forecast period. The expansion is linked to the rising global demand for surgical operations. This treatment has fewer adverse effects than conventional methods and aids in a quicker recovery. Additionally, it can be used in conjunction with other treatments such chemotherapy, radiation, and hormone therapy as an adjuvant therapy.
Fitness segment is witnessing the fastest market growth over the forecast period
Based on application, the global cryotherapy market is segmented into fitness and cold storage. Among these, the fitness segment is witnessing the fastest market growth over the forecast period. The development is linked to both the rising deployment of cryo chambers in fitness facilities and the growing understanding of the advantages of cryotherapy in fitness. This is as a result of its ability to promote the body's own natural healing processes and provide quicker pain relief. In reality, cryotherapy is used to provide pain relief quickly. All of these things encourage the usage of cryotherapy in fitness facilities.
Hospitals and specialty clinics segment holds the largest market share over the forecast period
On the basis of end use, the global cryotherapy market is segmented into hospitals and specialty clinics, cryotherapy centers, spas and fitness centers, and others. Among these, hospitals and specialty clinics segment holds the largest market share over the forecast period. With advances in cryotherapy technology for the treatment of many diseases and disorders, there is a greater need for cryosurgery and related products in hospitals and specialty clinics. Cryotherapy-based treatments were made available by a number of significant clinics and hospitals. For instance, CARE Innovative Solutions declared the Slynarski Knee Clinic will open its doors in October 2021 and provide computer-controlled cryotherapy treatments for knee-related diseases.
Cryochamber segment to witness the fastest market growth over the forecast period
Based on the device type, the global cryotherapy market is segmented into cryo chamber and cryo probe. Due to the rising popularity of cryotherapy among beauty salons and fitness facilities as well as the growing number of cryotherapy centres, the cryochamber category is predicted to experience the fastest market growth over the next years. Cryo chambers are additionally utilised in spas, sports training centres, and beauty salons.
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North America is dominating the market with the largest market share over the forecast period
Due to the growing number of cryotherapy facilities and their application in fitness facilities as well as beauty clinics, North America now dominates the global cryotherapy industry. In addition to rising disposable income, the region's prosperity is being fueled by high per capita healthcare spending and reputable healthcare infrastructure.
On the other hand, Asia Pacific is experiencing the fastest market growth due to untapped potential, growing knowledge about the use of cryosurgery for skin and cancer treatments, rapidly growing healthcare infrastructure, and rising disposable income levels in developing nations.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Cryotherapy Market include Impact Cryotherapy, Brymill Cryogenic Systems, Cooper Companies (Coopersurgical), Erbe Elektromedizin GmbH, Kriosystem Life, Medtronic Plc, Metrum Cryoflex, Cryoconcepts LP, US Cryotherapy, and Zimmer Medizinsysteme GmbH and among others.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Cryotherapy Market based on the below-mentioned segments:
Cryotherapy Market, Therapy Analysis
- Cryosurgery
- Chamber Therapy
Cryotherapy Market, Device Type Analysis
- Cryo Chamber
- Cryo Probe
Cryotherapy Market, Application Analysis
- Fitness
- Cold Storage
Cryotherapy Market, End Use Analysis
- Hospitals and specialty clinics
- Cryotherapy Centers
- Spas and Fitness Centers
- Others
Cryotherapy Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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