The cryotherapy market is set to experience rapid growth in the coming years, according to a new report by The Business Research Company. The market is projected to reach a value of £10.46 billion by 2028, growing at a compound annual growth rate (CAGR) of 10.6%. This growth is fuelled by a number of factors, including the increasing popularity of non-invasive and minimally invasive procedures, the launch of new cryotherapy products, the affordability of cryotherapy equipment, and the increasing use of cryotherapy devices across various medical and cosmetic applications.
What's Driving the Growth?
The demand for less invasive procedures, coupled with their faster recovery times and reduced discomfort, is a major driving force behind the cryotherapy market's expansion. Cryotherapy, a non-invasive treatment method, is becoming increasingly sought-after for its diverse applications.
The rising interest in aesthetic treatments is also contributing to the growth. In the United States alone, minimally invasive cosmetic procedures reached 23.7 million in 2022, a 70% increase from the previous year, indicating a significant consumer investment in these treatments. Further driving the market is the emergence of innovative technologies, such as Varian Medical Systems' Isolis cryoprobe, a single-use device for precise tissue ablation, which is advancing the field and opening up new market opportunities.
Key Players in the Cryotherapy Market
Several prominent companies are shaping the cryotherapy landscape, including:
Medtronic Plc
Stryker
Boston Scientific Corporation
CooperSurgical Inc.
Erbe Elektromedizin GmbH
Quantum Cryogenics
Zimmer MedizinSysteme GmbH
CryomedPro
CryoConcepts LP
Brymill Cryogenic Systems
US Cryotherapy
Cortex Technology
Impact Cryotherapy
MECOTEC GmbH
CryoBuilt Inc.
Cryomachines Inc.
IceCure Medical Ltd.
Cryoalfa
Galil Medical Inc.
CRYO Science
Titan Cryo
Market Segmentation
The cryotherapy market is segmented into:
Therapy Type: Cryosurgery, Icepack Therapy, Chamber Therapy
Device: Cryosurgery Device, Localized Cryotherapy Device, Cryochambers and Cryosaunas, Cryogun
Application: Surgical Applications, Oncology, Dermatology, Cardiology
End-user: Hospitals and Specialty Clinics, Cryotherapy Centres, Spas and Fitness Centres
Future Prospects
Technological advancements in cryotherapy equipment, including the development of more efficient and user-friendly devices, are expected to fuel further market growth. Emerging trends such as the use of cryotherapy for pain management, wound healing, and athletic performance enhancement will also contribute to the market's expansion.
Cryotherapy: A Powerful Tool for Health and Wellness
Cryotherapy, a therapeutic technique involving brief exposure to extremely low temperatures, offers a range of benefits. It is used to alleviate pain, reduce swelling, accelerate healing, improve recovery after exercise or injury, and enhance athletic performance. The increasing awareness of these benefits is driving the demand for cryotherapy services and products, making it a key player in the future of health and wellness.
Interested in Learning More?
To delve deeper into the cryotherapy market, access the comprehensive report from The Business Research Company. You can request a free sample of the report for a detailed overview of the market's insights, projections, and key trends.
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