The cryotherapy market refers to the market for cryotherapy products and services, including cryotherapy machines, cryotherapy chambers, and cryotherapy services offered by spas and wellness centers. Cryotherapy is a relatively new and rapidly growing industry that has seen significant growth in recent years, driven by increasing demand for non-invasive and natural wellness solutions.
Cryotherapy has become increasingly popular as a wellness and beauty treatment, with people seeking its reported benefits, such as pain relief, improved skin appearance, and enhanced athletic performance. In addition, the increasing prevalence of various medical conditions, such as musculoskeletal disorders, and the growing awareness of the benefits of cryotherapy are also driving the growth of the cryotherapy market.
The global cryotherapy market is expected to grow at a significant rate in the coming years, driven by the increasing demand for non-invasive and natural wellness solutions, the growing popularity of cryotherapy as a wellness and beauty treatment, and the increasing availability of cryotherapy services in spas, wellness centers, and medical facilities. The market is expected to be boosted by the increasing use of cryotherapy in sports medicine and the growing demand for cryotherapy as a post-workout recovery tool among athletes.
Despite its rapid growth, the cryotherapy market is still relatively small compared to other healthcare markets, and there is a significant opportunity for growth in the future. Additionally, as the market continues to grow, it is likely that new technologies and innovations will emerge, further increasing the popularity and availability of cryotherapy products and services.
What are the key trends in the Cryotherapy Market report?
The key trends in the Cryotherapy Market are increase in prevalence of chronic disease along with rise in elderly population are the key factors driving the market growth
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- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
Covid-19 Situation –
- During the Covid-19 pandemic, governments of various countries have imposed restrictions and bans on many medical and surgical procedures. This has reduced the cryotherapy process and the demand for cryotherapy equipment.
- In addition, cryotherapy equipment manufacturing companies have faced issues such as human product display, working in their factories in a comprehensive manner, and conference meetings. This leads to a reduction in market value.
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The overall impact of COVID-19 is still negative on the cryotherapy market, due to the decrease in the number of cryotherapy drugs. This treatment requires the use of reusable medical equipment at all times for the treatment of possible SARS COV-2 infection. In addition, dermatologists often use cryotherapy in sensitive areas such as the nose, perioral. This increases the risk of disease transmission where there is a possibility of airborne transmission of the coronavirus. This increases the risk of infection. Also, the government’s instructions to provide patients who need urgent attention to surgery and treatment and to postpone other treatments and surgeries if not urgent has already resulted in a small amount of cryotherapy products.
Based on revenue, the cryosurgery device segment has the largest share in 2020, accounting for more than two-fifths of the total revenue, and is expected to maintain its revenue growth during the forecast period. In addition, this segment is estimated to exhibit the fastest CAGR of 8.4% from 2021 to 2030. The research also examines the segment with local cryotherapy devices and cryochambers and cryosaunas.
Major Key Market Players in the Industry –
- Impact Cryotherapy
- Brymill Cryogenic Systems
- Cooper Companies (Coopersurgical)
- Erbe Elektromedizin GmbH
- Kriosystem Life
- Medtronic Plc
- Metrum Cryoflex
- Cryoconcepts LP
- US Cryotherapy
- Zimmer Medizinsysteme GmbH.
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Market: By Region Outlook
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)
Important Questions Being Answered by This Market Report Are –
Q1. What is the market value of Cryotherapy Market report in forecast period?
Q2. What would be forecast period in the market report?
Q3. What is the market value of Cryotherapy Market in 2020?
Q4. Which is base year calculated in the Cryotherapy Market report?
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Key findings of the study –
- Based on product, the cryosurgery device segment has the highest market share in 2020 and is expected to remain dominant during the forecast period.
- Based on application, the surgical instruments segment has the highest market share in 2020 and is expected to remain dominant during the forecast period.
- Based on the end user, the hospital and hospital sector has the highest market share in 2020 and is expected to remain the same during the forecast period.
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