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Redding, California - July 9, 2024

Cryotherapy Market to be Worth $1.14 Billion by 2031

Cryotherapy Market Size, Share, Forecast, & Trends Analysis by Device (Probe, Consoles, Saunas, Chamber, Facial Roller, Sticks), Substance (Liquid Nitrogen, Carbon Dioxide, Argon) Type (Partial, Whole Body) Application, End User—Global Forecast to 2031’


Meticulous Research®—a leading global market research company, published a research report titled ‘Cryotherapy Market Size, Share, Forecast, & Trends Analysis by Device (Probe, Consoles, Saunas, Chamber, Facial Roller, Sticks), Substance (Liquid Nitrogen, Carbon Dioxide, Argon) Type (Partial, Whole Body) Application, End User - Global Forecast to 2031’

According to this latest publication from Meticulous Research®, the cryotherapy market is projected to reach $1.14 billion by 2031, at a CAGR of 11.9% during the forecast period. The growth of this market can be attributed to several factors, including the rising demand for non-invasive procedures, technological advancements in cryotherapy equipment, the increasing prevalence of cancer and other chronic diseases, the rising adoption of cosmetic procedures, the growing beauty and healthcare industries, and the rising incidence of sports injuries. However, limited access to cryotherapy restrains the market’s growth.

Furthermore, the growing adoption of cryotherapy and expanding cryotherapy applications in Inflammation & weight management and immune modulation are expected to offer growth opportunities for the players operating in this market. However, the high costs associated with cryotherapy, the side effects associated with cryotherapy due to extreme cold temperatures, and the lack of awareness regarding cryotherapy are major challenges impacting market growth. Additionally, personalized cryotherapy, the use of cryotherapy to improve sleep quality or treat insomnia, the use of cryotherapy in animals for the treatment of tumors, and whole-body cryotherapy (WBC) are trends in the cryotherapy market.

Key Players

The key players operating in the cryotherapy market are Medtronic plc (Ireland), Boston Scientific Corporation (U.S), The Cooper Companies, Inc. (U.S), Impact Cryotherapy (U.S), Zimmer MedizinSysteme GmbH (Germany), METRUM CRYOFLEX Sp. z.o.o. (Poland), Brymill Cryogenics Systems (U.K), Erbe Elektromedizin GmbH (Germany), CryoConcepts LP. (U.S), US Cryotherapy (U.S), MECOTEC GmbH (Germany), Cortex Technology (India).

Cryotherapy Market: Future Outlook

The cryotherapy market is segmented based on Therapy Type (Whole-body Cryotherapy, Partial-body Cryotherapy, Ice Pack Therapy, Instant Ice Pack Therapy, Internal Cryotherapy), Device Type (Cryosurgery Devices [Cryoprobes, CryoConsoles], Whole-body Cryo Devices [Cryo Chambers, Cryo Saunas], Localized Cryotherapy Devices, Facial Cryotherapy Devices [Cryo Facial Rollers, Cryo Sticks, Cryo Globes], Cryo Lipolysis Devices, and Other Cryotherapy Devices) Substance Involved (Liquid Nitrogen-based Cryotherapy, Carbon Dioxide-based Cryotherapy, Argon Gas-based Cryotherapy, Liquid Nitrous Oxide-based Cryotherapy), Application (Surgical Applications [Dermatology, Cardiology, Oncology, Other Surgical Applications] Sports, Health and Beauty, Pain Management), End User (Hospitals and Clinics, Fitness Centers and Sports Clubs, and Other End Users) and Geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on therapy type, the cryotherapy market is segmented into whole-body cryotherapy, partial-body cryotherapy, ice pack therapy, instant ice pack therapy, and internal cryotherapy. In 2024, the whole-body cryotherapy segment is expected to account for the largest share of 40.9% of the cryotherapy market. The large market share of this segment can be attributed to the preference for whole-body cryotherapy to improve muscle recovery in athletes, its advantage in reducing inflammation, and in reducing patient-reported pain.

Based on device type, the cryotherapy market is segmented into cryosurgery devices, whole-body cryo devices, localized cryotherapy devices, facial cryotherapy devices, cryo lipolysis devices, and other cryotherapy devices. In 2024, the cryosurgery devices segment is expected to account for the largest share of 38.9% of the cryotherapy market. The large market share of this segment can be attributed to the use of cryoprobes and cryoconsoles in localized cryo therapy to freeze tissues, the high prevalence of cancer, and the high adoption of cryosurgery devices in hospitals and clinics.

Based on application, the cryotherapy market is segmented into surgical applications, sports, health and beauty, and pain management. In 2024, the surgical applications segment is expected to account for the largest share of the cryotherapy market. The large market share of this segment can be attributed to the expanding surgical application areas of cryotherapy in dermatology and cardiology, the high adoption of cryotherapy devices by healthcare professionals for reducing open surgeries, and the cost-benefit associated with cryotherapy for the treatment of several diseases such as cancer.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Sweden, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and the Middle East & Africa. In 2024, North America is expected to account for the largest share of 41.6% of the cryotherapy market, followed by Europe and Asia-Pacific. North America’s major market share is attributed to the high prevalence of cancer and other chronic diseases, high healthcare expenditure, increasing adoption of cryotherapy by healthcare professionals, and the presence of key players in the region.

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Key Questions Answered in the Report:

  • Which are the high-growth market segments in terms of therapy type, device type, substance involved, application, end user, and region/country?
  • What is the historical market size for cryotherapy products across the globe?
  • What are the market forecasts and estimates for 2024–2031?
  • What are the major drivers, restraints, opportunities, and challenges in the global cryotherapy market?
  • Who are the major players operating in the global cryotherapy market?
  • What is the competitive landscape like, and who are the market leaders in the global cryotherapy market?
  • What are the recent developments in the cryotherapy market?
  • What are the various strategies adopted by major players in the cryotherapy market?
  • What are the geographical trends and high-growth regions/countries?

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Cryotherapy Market - Global Opportunity Analysis and Industry Forecast (2024-2031)
Report ID: MRHC - 1041270 Pages: 250 Formats*:PDF Category: Healthcare
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