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Cryotherapy is a cold therapy used to freeze and destroy unwanted tissue for treating various skin conditions and non-invasive cosmetic procedures. It uses extreme cold temperatures produced by liquid nitrogen to reduce pain and inflammation. Growing prevalence of skin diseases and rising preference for non-invasive aesthetic treatments are fueling the demand for cryotherapy. The non-invasive nature of cryotherapy and faster recovery with minimal downtime makes it an attractive alternative to surgical procedures.
Key Takeaways
Key players operating in the cryotherapy market are Zimmer MedizinSysteme GmbH, Boston Scientific Corporation, Mectronic Medicale S.r.l., Impact Cryotherapy, C A Manufacturing Sp zoo, Cortex Technology, CooperSurgical Inc., Brymill Cryogenic Systems, Stryker, Cryoswiss GmbH, CryoConcepts LP., Medtronic, METRUM CRYOFLEX Sp. z o.o., CryoBuilt, Inc., Advanced Monitors Corporation, STERIS, DJO, LLC, and Pregna International Limited.
Key opportunities in the market include rising adoption of cryotherapy in pain management and aesthetics. Growing awareness about non-invasive aesthetic procedures is creating high demand for cryotherapy devices for skin tightening and cellulite reduction. Furthermore, increasing usage of cryotherapy for sports injuries and post-surgical pain management is presenting lucrative opportunities.
The global expansion of the cryotherapy market is driven by increasing collaborations between key market players. Many companies are focusing on emerging markets through partnerships and distribution agreements to strengthen their geographical footprint. In addition, partnerships with medical institutions help gain credibility and market access.
Market drivers
The primary driver fueling the growth of cryotherapy market is growing geriatric population susceptible to various musculoskeletal disorders and skin conditions. Rising incidences of arthritis, joint pain, and age-related aesthetic issues among the geriatric population are driving the demand for cryotherapy globally. Furthermore, increasing sports injuries combined with rising preference for non-invasive and faster treatment methods are propelling the cryotherapy market growth.
PEST ANALYSIS
Political: Increasing support from governments of various countries for preventive healthcare will drive demand. Regulations regarding safety and efficacy standards need to be strictly followed.
Economic: Rising disposable incomes will increase spend on alternative pain relief therapies like cryotherapy. Cost benefits over surgery and lesser recovery times will support commercial adoption.
Social: Growing health awareness and priority for wellness is increasing acceptance of cryotherapy. Social media marketing will help raise awareness about cryotherapy benefits.
Technological: Technological advancements aid in precision, targeted application and enhanced patient outcomes. Portable, wearable cryotherapy devices will improve accessibility. Automation allows reliable, repeatable cryotherapy protocols.
GEOGRAPHICAL REGIONS WHERE MARKET IS CONCENTRATED
North America accounts for the largest share of the cryotherapy market owing to established healthcare infrastructure, technological advancements and availability of skilled professionals. Developed countries in Europe such as Germany, UK and France are also major revenue generators supported by rising geriatric population and chronic disease prevalence. Revenue contribution from Asia Pacific is projected to grow at the fastest pace led by China, Japan and India due to increasing medical tourism, healthcare spending and demand for alternative therapies.
FASTEST GROWING REGION
The Asia Pacific region is poised to be the fastest growing market for cryotherapy during the forecast period. This is attributed to factors such as rising healthcare expenditure, growing urbanization, increasing focus on preventive healthcare due to changing lifestyles and expanding medical tourism sector in countries like India, China, Thailand and South Korea. Rising disposable incomes have also improved affordability of advanced cryotherapy devices in Asia Pacific.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
