Rockville , Jan. 19, 2024 (GLOBE NEWSWIRE) -- The global cryotherapy market is estimated to be US$4,003.7 million in 2024 and is projected to grow steadily at a rate of 6.40% through 2034. The market is projected to surpass a valuation of US$ 7,419.6 million by 2034.
In the past few years, individuals across the world have increasingly adopted healthy lifestyles and exercises due to the rising prevalence of lifestyle-related diseases. This has eventually resulted in an increased need for post-exercise recovery solutions. Cryotherapy, which generally involves exposing the body to extremely cold temperatures for a short duration, has gained popularity not just in the athletic community but in the general population as well.
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Hospitals worldwide form a subsequent consumer base in the cryotherapy market. They use these procedures to facilitate a spectrum of medical applications, ranging from pain management and post-surgical recovery to treating elderly patients with arthritis. Their demand in the medicare sector is also due to the increasing recognition of cryotherapy's efficacy in tissue healing, reducing inflammation, and enhancing overall patient outcomes.
Wellness facilities like spas, fitness centers, and beauty clinics are progressively embracing cryotherapy for its claimed benefits, including skin rejuvenation, collagen stimulation, and overall well-being. All these factors have effectively contributed to the expansion of cryotherapy in the general population.
| Report Attribute | Details |
| Value Projection (2034) | US$ 7,419.6 million |
| Growth Rate (2024-2034) | 6.40% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 80 Tables |
| No. of Figures | 240 Figures |
Key Takeaways from the Market Study
- The global cryotherapy market is projected to expand at a CAGR of 6.40% from 2024 to 2034.
- The North American cryotherapy market is expected to evolve at a remarkable CAGR of 7.50% from 2024 to 2034.
- The United States holds a dominant share of 89.00% of the cryotherapy market in the North American region.
- Brazil dominates the global cryotherapy market in the Latin American region, valued at US$ 166 million in 2024.
- The cryotherapy industry in the United States is expected to rise at a CAGR of 7.40% from 2024 to 2034.
- Based on end use, the hospitals segment held a 61.90% market share in 2024.
- The cryotherapy equipment segment dominates the cryotherapy market with a 91.80% share in 2024, based on the indication.
“Companies involved in the cryotherapy market should invest in educating healthcare professionals and consumers about the benefits to expand market reach. Moreover, the integration of cryotherapy in the skincare and wellness industry also contributes to the exponential expansion of the cryotherapy market." opines a Fact.MR analyst.
Key Companies Profiled in This Report
- AstraZeneca Plc.
- Addgene
- Caribou Biosciences
- Boston Scientific Corporation
- Brymill Cryogenic Solutions
- Stryker
- Cryoalfa
Competitive Landscape
Several companies have established a strong international reputation in the global marketplace for cryotherapy solutions. Hospitals, fitness centers, cryotherapy centers, and specialty clinics rely on these companies for a steady supply of cryotherapy equipment.
The market includes numerous small companies, often local or affiliated with regional fitness chains, with a more limited consumer range than industry leaders. Small companies often cater to local or regional markets and may have a niche focus within specific fitness chains and clubs.
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Country-wise Insights:
The market for cryotherapy in North America is expected to develop at a modest compound annual growth rate (CAGR) of 7.5% through 2034. The main cause of the increase is the rising demand for cryotherapy in important nations like Mexico and the United States. With an anticipated 89.0% market share in the cryotherapy sector, the US will lead the world in 2024. In the meantime, it is expected that the Latin American cryotherapy market would rise significantly, with a target of 6.0% CAGR in 2024. Brazil emerges as the industry leader in this area, with a dominant 38.0% share in 2024.
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