Cryotherapy Market Present Situation and Potential Growth with Forecast Report 2024

Cryotherapy is an alternative tumor treatment option, usually preferred in cases wherein removal of tumor using conventional surgery is not effective. Cryotherapy is also utilized in treating skin disorders, for anti-aging, muscle pain and recovery, and for muscle-related injuries. Cryotherapies are broadly classified as localized/surgical cryotherapy or cryosurgery and whole-body cryotherapy. Cryosurgery is used for treatment of skin conditions, cancer, and pain. Whole body cryotherapy (WBC) find applications in health and fitness, generally performed opted for by athletes and film personalities. Liquid nitrogen cooled sauna or cryotherapy chamber (exposed to fresh oxygenated cooled air) are some of the more non-conventional techniques employed in WBC. Cryotherapy chambers are usually preferred by cryotherapy centers or at home-facilities. Cryo-guns, cryo probes and gas cylinders are mainly used in hospitals and clinics for major cryotherapy procedures.

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Market Dynamics

The global cryotherapy market growth is expected to be mainly driven by increasing incidence of cancer and high prevalence of skin disorders. According to WCRF International, 1.1 million new cases of prostate cancer among men were diagnosed in 2012. Incidence rates are especially high in Australia, New Zealand, North America, and in Western and Northern European countries.

Moreover, the global cryotherapy market is characterized by varied end users such as hospitals, cryotherapy centers, fitness centers, and specialty clinics. Use of cryotherapy as a mode of alleviating muscular pain is increasing rapidly with the advent of cryotherapy chambers. Exposure to fresh oxygenated cooled air rather than liquid nitrogen, which poses threat to life if exposed for long time, is driving attention for cryotherapy chambers among consumers intending to reduce pain by cryotherapy. Although, treatment has been beneficial in many cancer cases, more studies are required to establish safety and effectiveness as opposed to chemotherapy, surgery, and radiation therapy.

Market Major Players

Major players operating in the global cryotherapy market include CryoConcepts LP, Wallach Surgical Devices, CooperSurgical, Inc., Cryoalfa, Medtronic PLC, US Cryotherapy, Metrum Cryoflex, Brymill Cryogenic Systems, and Galil Medical, Inc.

Market Taxonomy

This report segments the global cryotherapy market on the basis of product type, application, therapy type, end user, and geography. On the basis of product type, the global cryotherapy market is categorized into cryo-gun, cryo probes, gas cylinders, and others. On the basis of application, the market is segmented into oncology, cardiology, dermatology, pain management, and others. On the basis of therapy type, the global cryotherapy market is segmented into cryosurgery, ice-pack and cryo chamber therapy. The end user segment is divided into hospitals, fitness centers, specialty clinics and cryotherapy centers. For comprehensive understanding of market dynamics, the global cryotherapy market is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

Detailed Segmentation:

Global Cryotherapy Market, By Product Type:

• Cryogun

• Cryo Probes

• Gas Cylinders

• Others (Cryochambers, thermocouple device, etc.)

Global Cryotherapy Market, By Application:

• Oncology

• Cardiology

• Dermatology

• Pain Management

• Other

Global Cryotherapy Market, By End User:

• Hospitals

• Specialty Clinics

• Fitness centers

• Cryotherapy centers

Global Cryotherapy Market, By Geography:

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East

• Africa

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Cryotherapy Market, By Product Type, Application, Therapy Type, End User, and Geography - Forecast till 2024

Cryotherapy is an alternative tumor treatment option, usually preferred in cases wherein removal of tumor using conventional surgery is not effective. Cryotherapy is also utilized in treating skin disorders, for anti-aging, muscle pain and recovery, and for muscle-related injuries. Cryotherapies are broadly classified as localized/surgical cryotherapy or cryosurgery and whole-body cryotherapy. Cryosurgery is used for treatment of skin conditions, cancer, and pain. Whole body cryotherapy (WBC) find applications in health and fitness, generally performed opted for by athletes and film personalities. Liquid nitrogen cooled sauna or cryotherapy chamber (exposed to fresh oxygenated cooled air) are some of the more non-conventional techniques employed in WBC. Cryotherapy chambers are usually preferred by cryotherapy centers or at home-facilities. Cryo-guns, cryo probes and gas cylinders are mainly used in hospitals and clinics for major cryotherapy procedures.

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Market Dynamics

The global cryotherapy market growth is expected to be mainly driven by increasing incidence of cancer and high prevalence of skin disorders. According to WCRF International, 1.1 million new cases of prostate cancer among men were diagnosed in 2012. Incidence rates are especially high in Australia, New Zealand, North America, and in Western and Northern European countries.

Moreover, the global cryotherapy market is characterized by varied end users such as hospitals, cryotherapy centers, fitness centers, and specialty clinics. Use of cryotherapy as a mode of alleviating muscular pain is increasing rapidly with the advent of cryotherapy chambers. Exposure to fresh oxygenated cooled air rather than liquid nitrogen, which poses threat to life if exposed for long time, is driving attention for cryotherapy chambers among consumers intending to reduce pain by cryotherapy. Although, treatment has been beneficial in many cancer cases, more studies are required to establish safety and effectiveness as opposed to chemotherapy, surgery, and radiation therapy.

Market Taxonomy

This report segments the global cryotherapy market on the basis of product type, application, therapy type, end user, and geography. On the basis of product type, the global cryotherapy market is categorized into cryo-gun, cryo probes, gas cylinders, and others. On the basis of application, the market is segmented into oncology, cardiology, dermatology, pain management, and others. On the basis of therapy type, the global cryotherapy market is segmented into cryosurgery, ice-pack and cryo chamber therapy. The end user segment is divided into hospitals, fitness centers, specialty clinics and cryotherapy centers. For comprehensive understanding of market dynamics, the global cryotherapy market is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

Key features of the study:

• This report provides in-depth analysis of the cryotherapy products and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR (%)) for the forecast period: 2016 – 2024, considering 2015 as the base year
• It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market

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• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
• It profiles leading players in the global cryotherapy market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies and future plans
• Key companies covered as a part of this study include CryoConcepts LP, Wallach Surgical Devices, CooperSurgical, Inc., Cryoalfa, Medtronic PLC, US Cryotherapy, Metrum Cryoflex, Brymill Cryogenic Systems, Galil Medical, Inc., Special Medical Technology Co., Ltd., Zimmer MedizinSystems and Mectronic Medicale s.r.l.
• Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to their future product launch, end user upgrades, market expansion, and marketing tactics
• The global cryotherapy market report caters to various stakeholders in this industry, including investors, manufacturers and distributors for cryotherapy products, end users, research and consulting firms, new entrants, and financial analysts
• Various strategy matrices used in analyzing the cryotherapy market would provide stakeholders vital inputs to make strategic decisions accordingly

About CMI

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Cryotherapy Market to Surpass US$ 4.9 Billion by 2024 : Coherent Market Insights

The Global Cryotherapy Market was valued at US$ 2,414.2 million in 2015 and is projected to expand at a CAGR of 8.5 % during the forecast period (2016–2024), as highlighted in a new report published by Coherent Market Insights. Increasing incidence of cancer and growing inclination of the populace towards maintaining beauty and wellness is expected to support growth of the global cryotherapy market over the forecast period.

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Increasing number of sports injuries is consequently leading to higher adoption of cryotherapy to aid faster recovery and decrease muscle pain. Thus, use of cryo chambers is increasing exponentially in developed regions such as the U.S., U.K., Australia, and Germany. For instance, the management of Wales rugby team decided to provide cryotherapy to the team in a six day turnover period between its games with Italy and England (February 2017). The team required a faster recovery considering the spree of matches ahead, for which the Welsh Rugby Union flew its team from Rome to Wales. However, high capital investment and dearth of trained professionals to handle the cryotherapy equipment inhibits growth of the cryotherapy market in emerging economies in Asia Pacific and Africa.

A fast emerging application area of cryotherapy is in treatment of localized cancer. Though these claims are yet to be substantiated, increasing incidence of cancer and the quest to find a less painful treatment option for the same is expected to create a highly conducive environment for growth of the cryotherapy market. According to the World Health Organization (WHO), 14 million new cancer cases were diagnosed worldwide in 2012. The organization estimates that the incidence will increase by 70% over the following two decades. Moreover, according to WHO, cancer is the second leading cause of death worldwide. Increase in awareness about cryotherapy is expected to fuel the global cryotherapy market growth.

Cryotherapy involves application of extremely cold air, as cool as -264 degree Fahrenheit, to heal injuries in athletes. Moreover, cryotherapy is a very effective solution in alleviating pain. Localized cryotherapy is widely used to treat tumor cells located in any part of the body. Prostate cancer is one of the prominent condition being treated by cryotherapy in developed regions such as the North America, and Europe. Furthermore, popularity of cryotherapy in these regions, along with in Australia, Japan and New Zealand is leading to establishment of cryotherapy centers across these developed economies.

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According to a study published in January 2017 in the International Journal of Dermatology, patients with wart lesions responded more effectively with immunotherapy compared to cryotherapy. Thus, even for the treatment of cancer, abnormal skin and alleviating pain need more evidences to use of cryotherapy as a treatment option. Moreover, the FDA has not approved the use of whole body cryotherapy products in any of the medical conditions yet. The global cryotherapy market growth is therefore hindered due to lack of evidences.

Death of a 24 year old woman in October 2015 at an unlicensed spa due to freezing cold in a cryotherapy chamber raised concerns over the safety of whole-body cryotherapy. The state of Nevada’s health department therefore, issued guidelines for use of whole-body cryotherapy. The National Institutes of Health (NIH) is conducting extensive research on the use of cryo chambers in early recovery from sports injuries. Successful trials are expected to argue well for regulatory approval of cryotherapy for treating various conditions. Thus, while the prevailing conditions are not ideal for market growth, the cryotherapy market is expected to gain rapid traction on receiving regulatory approval for the same.

Key takeaways of the market:

• The global cryotherapy market is characterized by strategic research and development to establish evidence in the safe and effective use of cryotherapy in various disease conditions
• The global cryotherapy market is expected to expand at a CAGR of 8.5% during the forecast period (2016–2024). Rising prevalence of caner and increasing demand for improving aesthetic appeal and wellness across the globe is expected to favor the market growth for cryotherapy over the forecast period.
• The oncology application segment in the global cryotherapy market was estimated to be the largest in 2015 and is expected to retain its dominance in the market throughout the forecast period in terms of value.
• In terms of product type, the cryogun product type segment is expected to expand at a significant CAGR of 9.0% during the forecast period, owing to

Some of the major players present in the global cryotherapy market include CryoConcepts LP, Wallach Surgical Devices, CooperSurgical, Inc., Cryoalfa, Medtronic PLC, US Cryotherapy, Metrum Cryoflex, Brymill Cryogenic Systems, Galil Medical, Inc., Special Medical Technology Co., Ltd., Zimmer MedizinSystems and Mectronic Medicale s.r.l.

About CMI

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.