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Cryotherapy Market - Forecasts from 2022 to 2027

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  • 160 Pages
  • December 2022
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 5716736

The cryotherapy market is expected to grow at a CAGR of 12.03% over the forecast period to reach US$3.175 billion by 2027 from US$1.433 billion in 2020.

Cryotherapy or ice application refers to a treatment process that involves the usage of extremely cold liquid or instrument for freezing and removal of abnormal tissues. The therapy is used for pain relief and quick muscle recovery in sports injuries, and also it is used in the skin as well as various cancer treatments. Cryotherapy’s high-performance benefits are what drive its demand in the market, moreover, various medical centers have introduced cryotherapy services and launched new devices in this field to cater to various medical needs of the people. For, instance, in February 2021, SLG Hospital in Hyderabad launched advanced physiotherapy and cryotherapy services which aims to provide specialized treatment for sports injuries and also port-operation pain management. Furthermore, in October 2022, PENTAX Medical launched the C2 CryoBallon Ablation System in Canada for the treatment of people suffering from Barrett’s esophagus which can also develop into esophageal cancer. Such establishments and innovative product launches have taken the cryotherapy market in a new direction, thereby improving its market growth during the forecast period.

Based on therapy type, the cryotherapy market is segmented as 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 of the cryotherapy market. Ice pack therapy 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 has greater affordability owing to which it has high applicability 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 to the demand for ice pack therapy in the future, which will propel the overall cryotherapy market growth.

The growing number of sports injuries is expected to create a surge in the demand for cryotherapy.

Cryotherapy is considered 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 analysis, in 2021, basketball-related injuries in the US saw an increase of 21%, whereas soccer-related injuries saw a 77% increase in comparison to 2020. Furthermore, according to the Australian Institute of Health and Welfare, in 2019, roller sports-related injuries in Australia saw an increase of 21.5% in comparison to 2018. Such an increase in sports injuries is expected to increase the demand for cryotherapy thereby, boosting its market growth during the forecast period.

Recent developments:

  • In July 2022, The Spa Butler entered into a strategic collaboration with American Cyro for the distribution of American Cyro’s smart cryotherapy product namely “Subzero”, which will have high applicability in physical therapy, spot elimination, and wrinkle reduction.
  • In January 2022, Suzhou MicroPort RehabTech Co. Ltd launched TherMotion™ Cryo-Thermo Compression Device, and TherMotion™ Cryotherapy Compression Brace which are designed to provide sports injury & orthopedic post-operative rehabilitation, and functional recovery from chronic disease.
  • In January 2021, Pregna International Ltd launched a cryotherapy device namely “CryoPop”, which the company has developed to increase access to cervical pre-cancerous lesions treatment to women in India.
  • US-based aesthetic equipment manufacturer Zemits, in March 2020 announced the launch of its CoolRestore cryotherapy device in the UK market. The device comes with two treatment modes, “Smart mode” and “cryo mode” which provide fat and adipocyte elimination.

Covid-19 Impact on the Cryotherapy Market

The COVID-19 pandemic led to a global lockdown and restrictions were imposed on public movement, and trade among other activities. Various sectors took a massive on their activities due to the pandemic, the medical sector though showed significant growth owing to the growing demand and need for diagnostic and treatment equipment, however, movement restrictions led to fewer cases of consumer-related injuries being reported. For instance, according to the US Consumer Product Safety Commission (CPSC), the number of recreational and sports injuries reported in 2020 saw a decrease of 27% owing to the pandemic restrictions. Furthermore, Canadian Institute for Health Information reported a drop in the number of injury hospitalization from April 2022 to March 2021, owing to the rapid increase in OCVID cases. With the decrease in injury prevalence, the demand and scope of usage of cryotherapy also decreased during the COVID period which negatively impacted the market growth of cryotherapy. However, with the government showing ease in COVID restrictions, the usage of cryotherapy devices is projected to show a steady increase in its demand during the forecast period, thereby providing a positive outlook to its market.

Market Segmentation:

By Therapy Type

  • Ice Pack Therapy
  • Cold Immersion
  • Whole Body Therapy
  • Partial Body Therapy

By Machine Type

  • Sauna
  • Chamber
  • Localized Unit

By Chemical

  • Liquid Nitrogen
  • Argon Gas
  • Liquid Nitrous Oxide

By Application

  • Sports Injuries
  • Cryoablation

By End-User

  • Hospitals & Clinics
  • Fitness & Sports Clubs

By Geography

  • North America
  • USA
  • Canada
  • Mexico
  • South America
  • Brazil
  • Argentina
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
  • Middle East and Africa
  • Saudi Arabia
  • Israel
  • United Arab Emirates
  • Others
  • Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Indonesia
  • Thailand
  • Taiwan
  • Others

Table of Contents

1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2.1. Research Data
2.2. Assumptions

3.1. Research Highlights

4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5.1. Introduction
5.2. Ice Pack Therapy
5.3. Cold Immersion
5.4. Whole Body Therapy
5.5. Partial Body Therapy

6.1. Introduction
6.2. Sauna
6.3. Chamber
6.4. Localized Unit

7.1. Introduction
7.2. Liquid Nitrogen
7.3. Argon Gas
7.4. Liquid Nitrous Oxide

8.1. Introduction
8.2. Sports Injuries
8.3. Cryoablation

9.1. Introduction
9.2. Hospitals & Clinics
9.3. Fitness and Sports Centre

10.1. Introduction
10.2. North America
10.2.1. USA
10.2.2. Canada
10.2.3. Mexico
10.3. South America
10.3.1. Brazil
10.3.2. Argentina
10.3.3. Others
10.4. Europe
10.4.1. Germany
10.4.2. France
10.4.3. United Kingdom
10.4.4. Italy
10.4.5. Spain
10.4.6. Others
10.5. Middle East and Africa
10.5.1. Saudi Arabia
10.5.2. Israel
10.5.3. United Arab Emirates
10.5.4. Others
10.6. Asia Pacific
10.6.1. China
10.6.2. Japan
10.6.3. South Korea
10.6.4. India
10.6.5. Australia
10.6.6. Indonesia
10.6.7. Thailand
10.6.8. Taiwan
10.6.9. Others

11.1. Major Players and Strategy Analysis
11.2. Emerging Players and Market Lucrativeness
11.3. Mergers, Acquisitions, Agreements, and Collaborations
11.4. Vendor Competitiveness Matrix

12.1. Medtronic
12.2. Impact Cryotherapy
12.3. Zimmer MedizinSysteme GmbH
12.4. Brymill Cryogenic System.
12.5. Metrum Cyroflex
12.6. CooperSurgical Inc
12.7. CryoConcept LP
12.8. Erbe Elektromedizin GmbH
12.9. Healthcare Technologies
12.10. US Cryotherapy

Companies Mentioned

  • Medtronic
  • Impact Cryotherapy
  • Zimmer MedizinSysteme GmbH
  • Brymill Cryogenic System
  • Metrum Cyroflex
  • CooperSurgical Inc
  • CryoConcept LP
  • Erbe Elektromedizin GmbH
  • Healthcare Technologies
  • US Cryotherapy



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