Dublin, July 11, 2023 (GLOBE NEWSWIRE) -- The "Cryotherapy Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented by Therapy Type (Cryosurgery, Icepack Therapy, Chamber Therapy), By Device Type, By Application, By End User, By Region and Competition" report has been added to ResearchAndMarkets.com's offering.
Global Cryotherapy Market is anticipated to witness a growth of steady CAGR in the forecast period 2024-2028
The global cryotherapy market is affected by factors such as an increase in cancer and sports injury incidences, an increase in demand for minimally invasive therapies, and the growing use of cryotherapy procedures in dermatology for aesthetic treatment.
Rising New Cryotherapy Device with Affordable Price
Rising product developments, low-cost cryotherapy devices, and their rising users are likely to drive market growth during the forecast years. For example, CryoBuilt, Inc., a developer of whole-body cryotherapy systems, unveiled EVEREST, a sophisticated and inexpensive product line of whole-body cryotherapy chambers, in May 2022.
EVEREST chambers used freshly oxygenated cold air to cool the chamber, removing the risk of exposure to hazardous gases. The EVEREST line of chambers from CryoBuilt, Inc. allows you to take control of the system completely via the company's CryoBrain app. Pregna International Ltd., a provider of contraceptive solutions, had also recently created a device that uses carbon dioxide as a cryogen rather than the more commonly used liquid nitrogen or argon gas.
This aspect lowers treatment costs by many orders of magnitude, allowing cryo-therapeutics to achieve a larger patient pool. The development of single-use and reusable cryoprobes for precise freezing and rapid defrosting is expected to improve the experience of patients undergoing cryotherapy and drive market revenue growth between 2022 and 2030.
Increasing Collaborations with Major Market Players
Collaborations between key industry players are expected to propel market growth over the forthcoming years. For example, in May 2019, Medtronic Plc, an American Irish registered medical device firm, announced a collaboration with Koninklijke Philips N.V., which is an Amsterdam-based healthcare technology company.
This partnership is predicted to lead to an integrated, unique image-guided solution for cryoablation. This procedure is intended for the effective therapy of paroxysmal atrial fibrillation, which is a common cardiac rhythm problem. Such company development efforts by leading market players are expected to take the global cryotherapy market forward.
Increasing Skin Cancer Diseases and Rising Awareness About Cryotherapy Benefits
Growing awareness of the need for skin care and increased knowledge of cryotherapy benefits in the areas of beauty and wellness is expected to drive market growth over the next several years. This treatment can stimulate the body's metabolism and circulation, resulting in skin regeneration.
Numerous other advantages, such as weight loss, cellulite reduction, and cell oxygenation, will provide momentum to the market demand during the predicted timeline. The rising incidences of cancer and sports injuries, along with the growing need for less invasive therapies and advancements in cryotherapy equipment technology, will be the primary drivers influencing market expansion. Furthermore, the rising popularity of wellness, beauty, and fitness will drive the cryotherapy industry forward.
In the forecast period of 2024-2028, the increased focus on developing cryotherapy uses will give advantageous possibilities for the cryotherapy market. Skin cancer is the most frequent malignancy in the United States, according to the American Academy of Dermatology Association.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Cryotherapy market.
- Medtronic Plc.
- CooperSurgical, Inc.
- Brymill Cryogenic Systems
- CryoConcepts LP
- Galil Medical Inc.
- Zimmer MedizinSysteme GmbH
- METRUM CRYOFLEX Sp. z o.o.
- Cortex Technology ApS
- R&D Krion LLC
- Easytech s.r.l.
Report Scope:
Clinical Trial Analysis
- Ongoing Clinical Trials
- Completed Clinical Trials
- Terminated Clinical Trials
- Breakdown of Pipeline, By Development Phase
- Breakdown of Pipeline, By Status
- Breakdown of Pipeline, By Study Application
- Breakdown of Pipeline, By Region
- Clinical Trials Heat Map
Cryotherapy Market, By Therapy Type:
- Cryosurgery
- Icepack Therapy
- Chamber Therapy
Cryotherapy Market, By Device Type:
- Cryo Probes
- Cryoguns
- Localized Cryotherapy Devices
- Cryochambers & Cryosaunas
- Others
Cryotherapy Market, By Application:
- Surgical Applications
- Pain Management
- Beauty & Wellness
- Others
Cryotherapy Market, By End User:
- Hospitals & Specialty Clinics
- Cryotherapy Centers
- Spas & Fitness Centers
- Others
Cryotherapy Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- India
- Japan
- South Korea
- Australia
- China
- Europe & CIS
- Germany
- France
- United Kingdom
- Spain
- Italy
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
- Turkey
For more information about this report visit https://www.researchandmarkets.com/r/da6fop
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