Dublin, Nov. 05, 2024 (GLOBE NEWSWIRE) — The “Cryotherapy Market – Forecasts from 2024 to 2029” report has been added to ResearchAndMarkets.com’s offering.
The cryotherapy market is predicted to grow from US$4.533 billion in 2024 to US$6.052 billion in 2029 at a CAGR of 5.95%
Cryotherapy or ice application refers to a treatment process that involves using an extremely cold liquid or instrument to freeze and remove abnormal tissues. The therapy is used for pain relief and quick muscle recovery in sports injuries, and it is also used for the skin and various cancer treatments.
Cryotherapy’s high-performance benefits drive its demand in the market. Moreover, various medical centers have introduced cryotherapy services and launched new devices in this field to cater to people’s various medical needs. Such establishments and innovative product launches have taken the cryotherapy market in a new direction, thereby improving its market growth during the forecast period.
The growing number of sports injuries is expected to accelerate cryotherapy demand.
Cryotherapy is a beneficial treatment for sports injuries as it reduces muscle inflammation and swelling, thereby enhancing recovery time. Muscle imbalances, poor training, and deficit core stability have increased the number of sports-related injuries over the years. For instance, according to the National Safety Council, in 2023, nearly 3.7 million people were treated in emergencies for sports and recreational-related injuries in the United States, which signified a 2% growth over the previous year.
Likewise, according to the Centers for Disease Control and Prevention (CDC), 2.6 million children aged 0-19 are treated for sports-related injuries annually. This increase in sports injuries is expected to increase the demand for cryotherapy, thereby boosting the market’s growth during the forecast period.
Innovations in cryotherapy and related treatments have stimulated market expansion.
Cryotherapy offers numerous health benefits, such as reducing numb nerve irritation, migraine symptoms, arthritic pain, and other skin conditions, owing to which it is finding its way into modern full or partial-body treatments. With the ongoing innovations in the medical and healthcare field, the demand for treatments with a much more effective approach is witnessing positive growth, which has led to new developments.
For instance, in August 2023, Boston Scientific Corporation received FDA approval for its “POLARxT Cryoablation System,” which would treat paroxysmal atrial fibrillation (AF) by using an expandable cryo balloon catheter to freeze problematic tissue and pulmonary veins of the heart. Likewise, in September 2022, Icebox Studios launched the “Icebox Skin” program, which would provide facial treatment using cryotherapy. The new program would meet the consumer’s demand for efficient facial treatment.
Ice Pack therapy will show considerable growth during the forecast period.
Based on therapy type, the cryotherapy market is segmented into ice pack therapy, cold immersion, whole body, and partial body therapy. Ice pack therapy is expected to grow at a relatively higher rate during the forecast period owing to its high applicability, especially during injuries. It uses a straightforward method where an ice pack is applied to the injured part which brings instant pain alleviation.
Ice pack therapy, unlike whole or partial body therapy, is more affordable, owing to which it is highly applicable in the treatment of sports injuries. With the rapid growth of the sports sector, the scale of injuries caused by sports activities is also expected to increase, thereby providing a positive outlook for the demand for ice pack therapy in the future, which will propel the overall cryotherapy market growth.
North America is expected to constitute a considerable share of the market.
Geographically, the cryotherapy market is analyzed into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The North American market is poised for a positive expansion and will account for a considerable market share in the given timeframe, fueled by the booming sports injuries in major regional economies.
For instance, as per the National Safety Council, in 2023, exercise and equipment-related injuries in the United States witnessed an 8%, with overall frequency reaching up to 482,886 compared to 445,642 in 2022. Additionally, basketball and football-related injuries stood at 332,391 and 263,585, whereas soccer and playground equipment-related injuries reached 212,423 and 190,942.
Likewise, according to the data provided by the Canadian government, from October 2016 to January 2024, 5,434 cases related to alpine skiing-related injuries were reported, which represented 690.5 cases per 100,000 CHIRRP records. Moreover, besides the high frequency of sports-related injuries, the well-established presence of major companies such as Medtronic that provide cryoballoon ablation systems is also acting as an additional driving factor for regional market expansion.
The Asia Pacific and European regions are estimated to show constant growth in the given timeframe, fueled by the ongoing investments in Spa and sports care center establishments, which would be equipped with state-of-the-art technologies and equipment that would be able to treat any muscle or nerve-related injury.
Cryotherapy Key Market Development:
- In June 2024,TEDCO announced investments of US$200,000 in Kubanda Cryotherapy to further the treatment of pets having bumps, tumors, or cancer through cryotherapy.
- In May 2024,Gelida collaborated with Trump Hotels, enabling the latter to provide its cryotechnology for cold therapy in Trump Hotel Spas. The partnership would elevate the standard of spa treatment, thereby offering much-improved aesthetic results through holistic methodologies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 160 |
| Forecast Period | 2024 – 2029 |
| Estimated Market Value (USD) in 2024 | $4.53 Billion |
| Forecasted Market Value (USD) by 2029 | $6.05 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
Companies Featured
- Medtronic
- Impact Cryotherapy
- Zimmer MedizinSysteme GmbH
- Brymill Cryogenic System.
- Metrum Cyroflex
- CooperSurgical Inc
- CryoConcept LP
- Erbe Elektromedizin GmbH
- Healthcare Technologies
- US Cryotherapy
Scope of the Report
Therapy Type
- Ice Pack Therapy
- Cold Immersion
- Whole Body Therapy
- Partial Body Therapy
By Machine Type
- Sauna
- Chamber
- Localized Unit
By Chemical
- Liquid Nitrogen
- Aron Gas
- Liquid Nitrous Oxide
By Application
- Sports Injuries
- Cryoablation
By End-User
- Hospitals & Clinics
- Fitness and Sports Center
By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Middle East and Africa
- Saudi Arabia
- Israel
- United Arab Emirates
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Taiwan
For more information about this report visit https://www.researchandmarkets.com/r/34759b
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