The global cryotherapy market size was USD XX million in 2021 and is expected to register a steady revenue CAGR of XX% during the forecast period. Key factors such as rising geriatric population, growing awareness about the importance of cryotherapy, increasing geriatric population, and rising investments in developing advanced devices are expected to drive global market growth during the forecast period.
Cryotherapy is the use of extremely low temperatures to freeze and destroy abnormal tissues. It is a minimally invasive therapy used for treating damaged or diseased tissues and is widely used in the treatment of health conditions such as pain management, tissue damage or lesions, malignant and benign tumors, and sports injuries. Cryotherapy is rapidly gaining popularity owing to multiple beneficial factors such as rapid wound healing, lesser pain, and surgical wounds, and shorter hospital stays.
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Factors such as increasing product launches, rising number of surgical procedures, improving healthcare infrastructure, and growing demand for advanced cryotherapy across hospitals, clinics, cryotherapy centers, spas, and fitness centers are expected to boost global market revenue growth going ahead.
However, high cost of cryotherapy, lack of adequate healthcare infrastructure, dearth of skilled professionals, and limited access to cryotherapy in many developing economies are expected to hamper global cryotherapy market between 2023 and 2028.
Cryosurgical Segment To Register Rapid Revenue CAGR:
The cryosurgical segment is expected to register rapid revenue CAGR over the forecast period. This can be attributed to increasing prevalence of chronic diseases, rising demand for minimally invasive surgery, and rapid adoption of advanced cryotherapy technology and devices across hospitals, spas, clinics, and fitness centers.
Pain Management Segment to Account for a Significantly Larger Revenue Share:
The pain management segment is expected to account for a significantly larger revenue share between 2023 and 2028 owing to growing awareness about cryotherapy, rising number of patients suffering from chronic diseases, muscle soreness, migraine, and sports injuries, increasing geriatric population, and rising availability of advanced cryotherapy and devices.
North America to Lead In Terms of Revenue Share:
North America is expected to account for largest revenue share during the forecast period owing to presence of well-established healthcare infrastructure and facilities, increasing adoption of advanced technologies, growing awareness about cryotherapy, and presence of leading manufacturing companies. In addition, rising prevalence of skin cancer, rheumatic conditions, and sports injuries and rising investments in developing advanced cryotherapy treatments and devices are expected to drive North America market growth during the forecast period.
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Cryotherapy Market By Company:
Cryotherapy Industry Recent Developments:
In January 2021, Pregna International Ltd. announced the launch of CryoPop, a carbon dioxide based innovative cryotherapy device for fighting cervical cancer.
In January 2022, Suzhou MicroPort RehabTech Co. Ltd. announced the launch of TherMotion Cryo-Thermo Compression Device and TherMotion Cryotherapy Compression Brace to support orthopedic post operative rehabilitation, sports injury rehabilitation and functional recovery for chronic diseases.
The global cryotherapy market has been segmented based on type, application, and region:
Cryotherapy Market Segment by Type:
Cryotherapy Market Segment by Application:
Health & Beauty
Cryotherapy Market Segment by Region:
North America (USA, Canada)
Europe (Germany, France, UK, Italy, Russia)
Asia Pacific (China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam)
Latin America (Brazil, Argentina)
Middle East & Africa (Turkey, Saudi Arabia, U.A.E)
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Key Reasons to Purchase:
Estimates 2023 to 2028 cryotherapy market current market trends and development trends
Market dynamics along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the cryotherapy market
Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
Brief about impact of COVID-19 on the global cryotherapy market
Key Questions Addressed:
What revenue CAGR is the global market expected to register during the forecast period?Which key players are leading in the global cryotherapy market?
What is the expected market size of the global cryotherapy market between 2023 and 2028?
What factors are expected to open new growth avenues and opportunities for existing and emerging market players?
What are some of the key challenges that the global market is expected to face during the forecast period?
Which region is expected to account for largest revenue share over the forecast period?
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