Cryotherapy Market Size, Share & Trends Analysis Report Based on the Product (Cryosurgery Devices, Tissue Contact Probes, Tissue Spray Probes, Epidermal and Subcutaneous Cryoablation Devices, Localized Cryotherapy Devices, Cryochambers & Cryo saunas), Based on the Application (Surgical Applications, Oncology, Cardiology, Dermatology, Other Surgical Applications, Pain Management, Recovery, Health, and Beauty), Based on End-user (Hospitals & Specialty Clinics, Cryotherapy Centers, Spas & Fitness Centers) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global cryotherapy market size was valued at USD 6.36 billion in 2021 and is projected to reach USD 11.85 billion by 2030, registering a CAGR of 7.16% from 2022 to 2030.

Cryotherapy, also known as cold treatment or icepack therapy, is used to destroy a range of tissue or nerve lesions and cure diseases like cervical cancer, retinoblastoma, skin cancer, and others. Cryotherapy is also known as cold treatment or icepack therapy. Patients are given ice baths in order to alleviate and relax the sections of their bodies that have been strained or damaged as a result of extended exercise, muscular sprains, or other types of tissue injury. The low temperature causes blood vessels to contract, which in turn reduces the number of inflammatory cytokines that reach that area and results in a significant increase in the intensity of the pain.

Cryotherapy treatment makes use of a variety of gases, including argon and nitrogen, among others. Cryoprobes are used to deliver liquid nitrogen directly to the targeted areas of the body in order to treat primary tumors and malignancies that are caused by cancer. Cryosurgery has a number of benefits, including that it causes less discomfort than traditional surgery, that it is performed in a less invasive manner, and that it facilitates a quicker recovery with a reduced likelihood of infection transmission.

Market Dynamics

Market drivers

• Technological advancements in cryotherapy equipment

Due to the numerous technological advances and advancements in cryotherapy equipment throughout the years, cryotherapy has become a significant treatment option. Various equipment, including cryosurgery machines and accessories, has undergone an evolution. Cryochambers and cryo saunas, which are commonly employed in the treatment of inflammation, rheumatoid arthritis, pain management, and general beauty and health therapies, have also seen significant progress. In addition, cryosurgical equipment has seen considerable advancements, such as the use of supercooled liquid nitrogen or other cryogens for cooling, the introduction of thin and efficient probes available in a variety of sizes, and the application of narrow and enhanced cryoablation needles. For example, in September of 2018, Galil Medical introduced the ICEfx cryoablation system, an upgrade to the company's Visual ICE technology. The new technology has an upgraded needle platform with helium-free thaw capability to accelerate thaw time and eliminate helium costs. Additionally, it is portable, deploys rapidly, and streamlines the operation with user-friendly on-screen guidance.

• More product launches and low-cost cryotherapy equipment

Increasing product launches, reasonably priced cryotherapy equipment, and rising cryotherapy device use are anticipated to drive market expansion throughout the projection period. For instance, CryoBuilt, Inc., a producer of whole-body cryotherapy systems, introduced EVEREST, a series of cutting-edge and reasonably priced entire-body cryotherapy chambers, in May 2020. Without exposure to hazardous gases, EVEREST chambers chill the chamber with cold, freshly oxygenated air. With the company's CryoBrain app, users of the EVEREST line of chambers from CryoBuilt, Inc. may fully operate the system.

Market restraints

• Adverse effects associated with cryogenic gases

The detrimental consequences that come hand in hand with cryogenic gases are a significant element that is impeding the expansion of the industry. Cryotherapy is a treatment that employs the use of mixtures of numerous gases, including nitrogen, helium, neon, argon, hydrogen, methane, and liquefied natural gases. This treatment can result in a variety of adverse effects on the patient's health. It is possible for cryogenic liquids and the cold vapors or gases that are connected with them to cause allergic adverse effects on the skin. Frostbite and the appearance of waxy skin can be caused by prolonged exposure to the skin in extremely cold temperatures or by contact with icy surfaces. In addition, the rapid expansion that occurs with flammable gases such as methane, hydrogen, carbon monoxide, and liquefied natural gas can lead to dangers such as fire and explosion. As a result, worries about the safety of the gases used in cryotherapy are likely to slow the expansion of the business.

• Limited access 

Cryotherapy has very restricted geographic accessibility. Due to their lack of awareness and skilled workforce, nations like Japan, India, and Australia do not see any market developments. It is mainly limited to North America and Europe. Despite being proven to be safer and less painful than highly invasive surgical techniques, it is frequently employed in surgical treatments. Moreover, Throughout the forecast period, the market expansion is anticipated to be constrained by a need for more data regarding the safety and efficacy of cryotherapy and by using cryotherapy in several applications without supporting data.

Market opportunity

• Growing focus on expanding cryotherapy applications

Many medical diseases, including cancer, heart disease, and dermatological conditions, can be treated using cryotherapy. Inflammation, discomfort, and soreness can all be treated by cryotherapy, whether it's a partial or total body. Cryotherapy is being studied further to see if it may be used to treat other medical ailments and diseases, due to its minimally invasive and drug-free nature.

The "Clinical Practice Guidelines for Cryosurgery of Pancreatic Tumour" paper published in the US NIH National Library of Medicine (NIH/NLM) in July 2017 indicates that cryosurgery is less invasive, safer, and improves cancer targeting with fewer problems. For the time being, further research is needed to fully understand this intriguing adjuvant therapy. The Florida Hospital (in the United States) has many research departments performing clinical trials to explore novel approaches for treating colon and urethral cancers. One more recent study found that whole-body cryotherapy (WBC) is an effective treatment for a variety of inflammatory disorders that can impact athletes, as well as for improving post-exercise recovery, as reported in the journal Frontiers in Physiology in May 2017. Consequently, WBC is seen as an anti-inflammatory and antioxidant barrier-enhancing treatment that can combat detrimental stimuli.

Regional Analysis

The market is split by region into North America, Europe, Asia-Pacific, and LAMEA.

In 2018, North America held the greatest share of the market, and it is anticipated that it will continue to hold this position during the forecast period. The growth of the cryotherapy market in North America is being driven by a number of factors, including the increasing popularity of cryotherapy, the rising incidence of cancer, the rising incidence of sports and physical activity-related injuries, and the rising incidence of cardiovascular diseases. The United States has recently witnessed a rise in the popularity of cryotherapy among athletes as well as others interested in fitness and beauty. As a result, many professional and college training departments have begun installing cryosauna machines at their respective facilities. In addition, the Canadian Cancer Society advocates for the utilization of cryosurgery and cryoablation as viable treatment options for a variety of cancerous illnesses.

The European market is expected to account for a sizeable portion of the global market due to the endorsement and introduction of novel cryotherapy products within the area. For instance, European health officials approved using CSA Medical's cryotherapy plan for treating COPD patients with persistent bronchitis.

The Asia Pacific region is anticipated to experience the most significant expansion. The presence of a sizable target population in developing countries like China and India, as well as increasing efforts by the leading businesses to ensure the availability of cryotherapy equipment in these countries, are associated with this increased spread.

Segmental Analysis

The global market has been subdivided into cryosurgery, icepack therapy, and chamber therapy based on therapy type. In 2021, the cryosurgery category led the global market, accounting for approximately 55,00 percent of the total revenue. This can be due to the worldwide increase in demand for surgical treatments. This therapy has fewer adverse effects than conventional methods and hence facilitates a quicker recovery. In addition, it can be used as a complementary therapy alongside radiation, chemotherapy, and hormone therapy.

Chamber therapy is anticipated to be the fastest-growing market because to the expanding use of cryotherapy in fields such as beauty & wellness, fitness, and others. Chamber therapy is becoming increasingly popular among athletes and athletes. Several research papers on cryotherapy treatments for sports injuries and their impact on various sports-related outcomes, such as muscle pain, damage & soreness, and delayed onset of muscle soreness, have been published. Moreover, extended usage of a particular group of muscles frequently results in aches, soreness, weakness, and fatigue, particularly among sportsmen.

Due to increased knowledge about the benefits of cryotherapy in fitness and a rise in the usage of cryo chambers in fitness clubs, it is expected that the fitness application segment would record the highest CAGR of over 11.5 percent between 2022 and 2030. This is due to its capacity to enhance the body's natural healing processes and give speedier pain relief. DOMS (Delayed Onset of Muscle Soreness) is characterized by the muscle discomfort, stiffness, and tenderness following a high-intensity workout. Cryotherapy can be utilized for speedier DOMS alleviation. These elements encourage the use of cryotherapy in fitness centers. In 2021, cold storage held the biggest market share. It plays a crucial role in healthcare, with uses including bone marrow transplantation, in vitro fertilization, and cord blood banking.

Cold chain logistics for the pharmaceutical industry is another important application of cold storage. It is utilized in vaccine storage and medicine transportation as well. For example, the COVID-19 vaccine manufactured by Pfizer must be refrigerated at -70 degrees Celsius. Due to these considerations, cold storage held a large proportion of the market in 2021. In addition, cryosurgery has become one of the most popular treatment choices in numerous medical specialties, including oncology, cardiology, and dermatology, over the past decade. Cryotherapy can be utilized in oncology to treat a variety of tumors, including retinoblastoma, prostate, skin, and cervical cancers. Cryotherapy has the considerable advantage of being able to be repeated and used as a supplement to other treatments, such as chemotherapy, hormone therapy, and radiation.

On the basis of end-uses

The global market has been divided into hospitals and specialist clinics, cryotherapy facilities, spas and fitness centers, and others. The end-user segment of hospitals & specialty clinics is anticipated to exhibit the highest growth rate throughout the projection period, at 8.1%. The increased demand for cryosurgery and related goods in hospitals and specialist clinics is a result of advances in cryotherapy technology for the treatment of various diseases and disorders. Numerous hospitals and clinics began to provide cryotherapy-based treatment.

Throughout the projected period, it is anticipated that the division of cryotherapy centers will have lucrative growth. The increased development of this area might be attributed to the expansion of cryotherapy facilities in key markets. In October 2021, for instance, CARE Innovative Options announced the introduction of the Slynarski Knee Clinic, which offers computer-controlled cryotherapy solutions for knee-related treatments.

The spa and fitness facility segment are projected to have the highest CAGR between 2022 and 2030. Cryotherapy is a new fitness and wellness trend with significant benefits. As a result, increasing numbers of individuals are selecting for this service, resulting in high demand. Several fitness clubs and health spas are implementing cryotherapy to capitalize on the possibility. Cryotherapy devices, such as cryosauna, are anticipated to be in high demand in this market segment due to their design and functionality compatibility with fitness facilities. All of these factors are anticipated to stimulate market expansion throughout the forecast period.

Cryochamber is anticipated to develop at a CAGR of more than 10.0 percent over the projected period, which may be ascribed to an increase in the number of cryotherapy centers and its high acceptance by beauty clinics and fitness centers. A cryo-chamber is applicable in athletic training facilities, spas, and cosmetic treatments. According to the NCBI research article, the benefits of cryo chambers and cryosauna include pain reduction and muscle repair, weight loss, reduced inflammation, dementia prevention, and treatment of eczema symptoms. Despite this, several studies contradict treatment claims. According to the Cochrane Review, four published trials found no substantial benefits of cryotherapy for the management of muscle discomfort.

In 2021, Cryoguns also held a large market share. Cryoguns is used to treat a variety of medical ailments, including dermatological and oncology disorders. Due to its limited invasiveness, reduced discomfort, and blood loss, it is significantly more convenient and comfortable than conventional surgery. In addition, cryoguns are used to treat a vast array of medical problems, including dermatological and cancer disorders. Cryoguns are most frequently used to treat common warts, verruca, cutaneous horn, cutaneous lesions, dermatofibroma, eyelid margin lesions, hemorrhoids, hypertrophic scarring, keloid, and skin tags. Additionally, it is used to treat cervical cancer. In the approaching years, the market for cryoguns will likely be driven by these causes.

Recent Developments

• In January 2023, CryoConcepts will relocate and prepares a manufacturing complex in Forks Township, Pennsylvania.
• In November 2022, In the United States, Medtronic introduced the first and only infusion set for insulin pumps that doubles wear time by up to seven days.
• In December 2022, HugoTM robotic-assisted surgery system clinical trial in the United States had its first patient, according to Medtronic.