Pune, June 01, 2022 (GLOBE NEWSWIRE) -- The Global Cryotherapy Market is expected to clock US$ ~549.6 million by 2031 owing to the rising adoption of cryotherapy for the minimally invasive surgeries and in beauty and fitness industries.
Growth Factor
- The prominent players are focusing on strategies to associate with the end-users (such as sports club) in order to strengthen their customer base.
- For instance, in February 2021, Cryomed Manufacture s.r.o., a cryotherapy equipment provider, and the Alliance of the European Hockey Clubs (E.H.C.) announced a multi-year partnership.
- As per the partnership, Cryomed became the official cryotherapy provider to the E.H.C. Alliance. The partnership is aimed to offer Cryomed with an array of networking and exposure opportunities within the European club hockey community.
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Restraints:
However, complications related to cryotherapy and the limited evidence regarding the effectiveness of treatment may restraint the market growth to a certain extent. Cryotherapy for sports injuries is widely used, but the scientific evidence about the effectiveness of this treatment is unreliable. Complications such as blisters, damage to nearby healthy tissue or vessels, a loss of sensation if nerves are affected, scarring, white skin at the site of the surgery, etc. may also hamper the adoption of cryotherapy. Therefore, limiting the growth of the cryotherapy market.
The global Cryotherapy market has been analyzed from four different perspectives–Product Type, Application, End User, and Region.
Excerpts from ‘By Application Segmentation’
The global cryotherapy market has been segmented into three distinct categories depending on application, viz. pain management, surgical applications, and health & beauty. Surgical applications segment dominated the market with the largest share in 2020. The growth of the segment can be attributed to its adoption in the treatment of the different types of cancers and cardiovascular diseases. Cryotherapy is an alternative treatment when surgical removal of a tumor is difficult or for some patients, impossible. Cryosurgery is used as the primary treatment for early prostate cancer.
Excerpts from ‘By Region Segmentation’
The global cryotherapy market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America commanded the largest share of the global cryotherapy market in 2020, followed by Asia Pacific, Europe, and Rest of the World (RoW). Factors such as developed healthcare infrastructure, growing burden of chronic diseases, easy availability of cryotherapy products, and presence of prominent players & their collaboration with sports clubs, athletics organizations, etc., are also expected to boost the market.
Excerpts from ‘Competitive Landscape’
The prominent players operating in the global cryotherapy market are: -
- Medtronic
- Boston Scientific Corporation
- Brymill Cryogenic Systems
- Zimmer Medizin Systeme GmbH
- Cooper Surgical Inc
- Erbe Medical India Pvt Ltd
- Metrum Cryoflex
- CryoConcepts LP
- US Cryotherapy
- Impact Cryotherapy
- Among others
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Report Scope
| Report Coverage | Details |
| Forecast Period | 2021-2031 |
| Forecast Period 2021 to 2028 CAGR | 8.7% |
| 2031 Value Projection | USD 549.6 million |
| Base Year | 2020 |
| Market Size in 2020 | USD 219.5 million |
| No. of Pages | 100 - 120 |
| Segments covered | Product Type, Application, End-User |
By Product Type Outlook
- Cryosurgery Devices
- Cryochambers & Cryosaunas
- Localized Cryotherapy Devices
By Application Outlook: -
- Pain Management
- Surgical Applications
- Health & Beauty
By End-User Outlook: -
- Hospitals
- Cryotherapy Centers
- Spas & Fitness Centers
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