Cryotherapy Market Size, Share, Growth & Trends- By Treatment Type (Cryosurgery, Icepack Therapy, Chamber Therapy) By Application (Oncology, Cardiology, Ophthalmology, Gynaecology, Dermatology, Pain Management), By Device Type (Cryoguns, Cryo Probes, Gas Cylinders, Cryo Chambers, Gas Pressure Gauges, Thermocouple Devices) By Market Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Cryotherapy Market size was valued at USD 3.5 billion by 2020, growing with 4.5% CAGR during the forecast period, 2021-2030.

Cryotherapy, also known as cold treatment or icepack therapy, is used to relieve and relax body parts due to muscular sprains, tissue damage, and excessive exercise by providing the patient with ice baths. For treating primary tumors and malignancies, liquid nitrogen is directly administered to the targeted regions using cryoprobes; harm to surrounding tissues is reduced by close monitoring by MRI and ultrasounds during cryogenic chamber therapy.Cryotherapy is the use of low temperatures in medical therapies, either locally or generally, to cure a wide range of benign and malignant tissue damages recognized as lesions. Cryosurgery is a form of surgical therapy that uses extremely low temperatures to treat aberrant or damaged tissue. It is commonly utilized in skin treatments. Cryotherapy and cryosurgery are therapeutic and surgical operations that are carried out at extremely low temperatures.

Market Dynamics and Factors:

Cryotherapy is frequently used to treat diseases such as pain, malignant and benign tumours, tissue damage or lesions, and sports injuries. The cryotherapy applications market is divided into three categories: surgical activities (oncology, dermatology, cardiology, and other surgical applications), pain management, and recovery, health, and cosmetic applications. The surgical applications category holds the greatest market share, a trend that is likely to continue over the forecast period. The substantial proportion of this cryotherapy’s surgical sector may be due to the increased use of cryoablation for cancer therapy, as well as the benefits that this approach offers over conventional surgery.

One of the key factors driving the growth of the cryotherapy industry is the increasing prevalence of cancer. According to the WHO Cancer is a major cause of death worldwide, accounting for nearly 10 million deaths in 2020 .The most common in 2020 (in terms of new cases of cancer) were breast Cancer (2.26 million cases);lung Cancer (2.21million cases);colon and rectum Cancer (1.93 million cases);prostate Cancer (1.41 million cases);skin Cancer  (non-melanoma) (1.20 million cases); and stomach Cancer  (1.09 million cases) and  the most common causes of cancer death in 2020 were: lung Cancer (1.80 million deaths);colon and rectum Cancer (935000 deaths); liver Cancer (830000 deaths);stomach Cancer (769 000 deaths); and breast Cancer (685000 deaths).

Market Segmentation:

Global cryotherapy market share can be segmented on the basis of by treatment type (Cryosurgery, Icepack Therapy, Chamber Therapy), By application (Oncology, Cardiology, Ophthalmology, Gynaecology, Dermatology, Pain Management),By device type (Cryoguns, Cryo Probes, Gas Cylinders, Cryo Chambers, Gas Pressure Gauges, Thermocouple Devices) By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa).

Geographic Analysis:

North America share dominated the cryotherapy market in 2020, with a one third revenue share, and is expected to retain its dominance during the forecast period. The region's significant share is due to its well-established healthcare infrastructure, attractive reimbursement circumstances, and widespread use of technologically sophisticated treatments. Furthermore, the local presence of key firms, as well as their ongoing strategic activities, are expected to promote regional growth.

Because of the approval and introduction of novel cryotherapy products in the area, Europe is projected to account for a considerable part of the market. For example, in December 2019, European health regulators authorized the use of CSA Medical's cryotherapy system for the treatment of COPD (Chronic obstructive pulmonary disease) patients with chronic bronchitis. During the projection period, the Asia Pacific region is expected to expand the most. This rapid expansion might be attributed to the existence of a large target population in growing markets such as India and China, as well as increased efforts by key manufacturers to assure the availability of cryotherapy devices in these nations.

Competitive Scenario:

The Cryotherapy market share, which is highly competitive, consists of a few major players. The key players of Cryotherapy market are Impact Cryotherapy, CryoConcepts LP, Kriosystem Life, Galil Medical Inc, ErbeElektromedizinGmbh, Brymill Cryogenic Systems, Zimmer Medizinsysteme Gmbh, MetrumCryoflex Sp. zoo, Sp., CryoConcepts LP, Medtronic, Cooper Surgical, Inc., Cortex Technology, MectronicMedicaleS.r.l., Cryoalfa, Special Medical Technology Co., Ltd.

Cryotherapy Market  Report Scope