Cryotherapy Market Overview
The global Cryotherapy Market is estimated to grow at a CAGR of 9.05% during the forecast period 2019–2025. The market is projected to grow from $189.1m in 2018 to $346.5m by 2025. Cryotherapy or cold therapy can be considered a medical treatment to dampen muscle soreness, treat chronic pain, rheumatoid arthritis, anxiety, asthma, migraine and others. These ice baths are also preferred by individuals trying to reduce body weight as cryotherapy helps increase metabolism by keeping body temperatures high. Cryotherapy also helps is the treatment of localized nerve irritation by neutralizing nerves.
- In the coming years, growing interest in Cryotherapy is due to its treatment abilities. Cryotherapy is used for cancer treatment, treatment of chronic body pain as a result of the long sitting hours and other lifestyle activities.
- Product launch was a key sustainability strategy adopted by the market players to ensure the growth of Cryotherapy Market.
- North America region dominated the Cryotherapy market during the period under consideration.
Therapy Type - Segment Analysis
In 2018, Whole Body Cryotherapy segment dominated the Cryotherapy Market in terms of revenue. Whole body cryotherapy is vastly preferred as it aims to provide treatment for chronic body pains, migraine and others.
Product Type - Segment Analysis
In 2018, Cryo guns segment dominated the Cryotherapy Market in terms of revenue. Cryo guns helps in directly healing areas and freezes pain causing veins. It also helps in decreasing inflammatory pains. In the coming years, Cryosauna is expected to dominate the market due to its enhanced methods.
Technology - Segment Analysis
The liquid nitrogen segment dominated the Cryotherapy Market in 2018. Liquid nitrogen is mostly used by key players in the market since it is available in the market at cheap costs. Procurement and storing liquid is also comparatively easier than its counterparts.
Application - Segment Analysis
Oncology segment dominated the Cryotherapy Market in 2018. A form of cryotherapy called cryoablation is a method used for the treatment of cancer. It is forecast to grow at a CAGR of 7.88% during the period under consideration. Here, patients are injected a cannula needle directly to the cancer causing cells transporting freezing gases that interruptions the cell growth and kills the cells.
Geography - Segment Analysis
In 2018, the North America region occupied 52% of the Global Cryotherapy Market in terms of revenue. Most of the advancements in the field of cryotherapy originated from U.S., Canada. Thus, it is mostly tested and used by individuals in the North America region.
Drivers – Cryotherapy Market
- Cryotherapy helps in treating Cancer
Cryoablation, a part of cryotherapy is used for the treatment of cancer patients. It works by freezing the cancer causing cells, decelerating cell growth and eventually killing the cancer cell. The growth of this application is set to aid the market’s overall growth.
Challenges – Cryotherapy Market
- Numerous Cases of Casualties
Keeping aside the advantages of cryotherapy, it has been quite life threatening at times. There has been cases where people have frozen to death inside the chamber. As cryotherapy freezes nerves, it has caused stroke in few cases. Cryotherapy has also triggered abnormal headaches, migraines for certain individuals.
Cryotherapy industry outlook
Product Launches is the key strategy of the players in the Cryotherapy Industry. Cryotherapy top 10 companies include Brymill Cryogenic Systems Ltd, Channel Medsystems Inc., Cooper Surgical Inc., Cryoconcepts LP, Erbe Elektromedizin GmbH, Galil Medical Inc., Impact Cryotherapy Inc., Kriosystem Life Sp.zo.o., Medtronic Plc, and Zimmer Medizinsysteme GmbH.
Cryotherapy Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the Cryotherapy Market. The assessment includes the forecast, an overview of the competitive structure, the cryotherapy market share of the competitors, as well as the cryotherapy market size, market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This Cryotherapy Market report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include therapy type, product type, technology, application and geographic analysis.