Cryotherapy Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis

The Global Cryotherapy Market was valued at US$ 2,414.2 million in 2015 and is projected to expand at a CAGR of 8.5 % during the forecast period (2016-2024), as highlighted in a new report published by Coherent Market Insights. Increasing incidence of cancer and growing inclination of the populace towards maintaining beauty and wellness is expected to support growth of the global cryotherapy market over the forecast period.
Increasing number of sports injuries is consequently leading to higher adoption of cryotherapy to aid faster recovery and decrease muscle pain. Thus, use of cryo chambers is increasing exponentially in developed regions such as the U.S., U.K., Australia, and Germany. For instance, the management of Wales rugby team decided to provide cryotherapy to the team in a six day turnover period between its games with Italy and England (February 2017). The team required a faster recovery considering the spree of matches ahead, for which the Welsh Rugby Union flew its team from Rome to Wales. However, high capital investment and dearth of trained professionals to handle the cryotherapy equipment inhibits growth of the cryotherapy market in emerging economies in Asia Pacific and Africa.
A fast emerging application area of cryotherapy is in treatment of localized cancer. Though these claims are yet to be substantiated, increasing incidence of cancer and the quest to find a less painful treatment option for the same is expected to create a highly conducive environment for growth of the cryotherapy market. According to the World Health Organization (WHO), 14 million new cancer cases were diagnosed worldwide in 2012. The organization estimates that the incidence will increase by 70% over the following two decades. Moreover, according to WHO, cancer is the second leading cause of death worldwide. Increase in awareness about cryotherapy is expected to fuel the global cryotherapy market growth.
Cryotherapy involves application of extremely cold air, as cool as -264 degree Fahrenheit, to heal injuries in athletes. Moreover, cryotherapy is a very effective solution in alleviating pain. Localized cryotherapy is widely used to treat tumor cells located in any part of the body. Prostate cancer is one of the prominent condition being treated by cryotherapy in developed regions such as the North America, and Europe. Furthermore, popularity of cryotherapy in these regions, along with in Australia, Japan and New Zealand is leading to establishment of cryotherapy centers across these developed economies.
According to a study published in January 2017 in the International Journal of Dermatology, patients with wart lesions responded more effectively with immunotherapy compared to cryotherapy. Thus, even for the treatment of cancer, abnormal skin and alleviating pain need more evidences to use of cryotherapy as a treatment option. Moreover, the FDA has not approved the use of whole body cryotherapy products in any of the medical conditions yet. The global cryotherapy market growth is therefore hindered due to lack of evidences.
Death of a 24 year old woman in October 2015 at an unlicensed spa due to freezing cold in a cryotherapy chamber raised concerns over the safety of whole-body cryotherapy. The state of Nevada's health department therefore, issued guidelines for use of whole-body cryotherapy. The National Institutes of Health (NIH) is conducting extensive research on the use of cryo chambers in early recovery from sports injuries. Successful trials are expected to argue well for regulatory approval of cryotherapy for treating various conditions. Thus, while the prevailing conditions are not ideal for market growth, the cryotherapy market is expected to gain rapid traction on receiving regulatory approval for the same.
Key takeaways of the market:
• The global cryotherapy market is characterized by strategic research and development to establish evidence in the safe and effective use of cryotherapy in various disease conditions
• The global cryotherapy market is expected to expand at a CAGR of 8.5% during the forecast period (2016-2024). Rising prevalence of caner and increasing demand for improving aesthetic appeal and wellness across the globe is expected to favor the market growth for cryotherapy over the forecast period.
• The oncology application segment in the global cryotherapy market was estimated to be the largest in 2015 and is expected to retain its dominance in the market throughout the forecast period in terms of value.
• In terms of product type, the cryogun product type segment is expected to expand at a significant CAGR of 9.0% during the forecast period, owing to
• Some of the major players present in the global cryotherapy market include CryoConcepts LP, Wallach Surgical Devices, CooperSurgical, Inc., Cryoalfa, Medtronic PLC, US Cryotherapy, Metrum Cryoflex, Brymill Cryogenic Systems, Galil Medical, Inc., Special Medical Technology Co., Ltd., Zimmer MedizinSystems and Mectronic Medicale s.r.l.

Global Nanoparticle Analysis Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024

Published Date : Feb 2019

Nanoparticle Analysis utilizes the properties of light scattering to detect the partical size distribution, zeta potential, molecular weight, etc. of samples, and can be used to analyze samples of nanoparticle, colloform, emulsion, submicron suspension, etc. The light scattered by the particles is c...

Global Electric Power System Analysis Software Market 2019 by Company, Regions, Type and Application, Forecast to 2024

Published Date : Jan 2019

Electric Power System Analysis Software include electric power generation, distribution, transmission, trading and sales, protection etc. Scope of the Report: Company mergers and acquisitions, and inter-companies cooperation have occurred for development and growth. The internatio...

Global Automotive Industry AGV Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024

Published Date : Jan 2019

Automated Guided Vehicle (AGV) is an unmanned, computer-controlled mobile transport unit used for material handling and transportation in a wide range of industries. Also known as a self-guided vehicle or self-propelled vehicle, an AGV is a vehicle that is powered by a battery or an electric motor a...

Global Food and Beverage Industry Casters Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024

Published Date : Jan 2019

Food and Beverage Industry Casters is casters used for Food and Beverage。 Scope of the Report: The worldwide market for Food and Beverage Industry Casters is expected to grow at a CAGR of roughly xx% over the next five years, will reach xx million US$ in 2024, from xx million US$ ...

Global Retail Industry Casters Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024

Published Date : Jan 2019

Retail Industry Casters impact every aspect of the retail environment, from shipping to storing, to displays and shopping. Scope of the Report: The worldwide market for Retail Industry Casters is expected to grow at a CAGR of roughly xx% over the next five years, will reach xx mil...

Global Cell and Tissue Analysis Market 2019 by Company, Regions, Type and Application, Forecast to 2024

Published Date : Jan 2019

Cells and tissues are analyzed in the laboratory to look for the presence or effects of diseases including cancer. Scope of the Report: The global Cell and Tissue Analysis market is valued at xx million USD in 2018 and is expected to reach xx million USD by the end of 2024, growin...

Global Cancer Cell Analysis Market 2019 by Company, Regions, Type and Application, Forecast to 2024

Published Date : Jan 2019

Cancer cellular analysis involves understanding complex defects in communication between cells that alter normal programs of proliferation, transcription, growth, migration, differentiation and death. Scope of the Report: The global Cancer Cell Analysis market is valued at xx mill...

Global BOPP Film (Biaxially Oriented Polypropylene Film) Market Outlook 2018-2023

Published Date : Jan 2019

The 'Global BOPP Film (Biaxially Oriented Polypropylene Film) Market Outlook 2018-2023' offers detailed coverage of BOPP film industry and presents main market trends. The market research gives historical and forecast market size, demand, end-use details, price trends, and company shares of the lead...

Global N-Ethylpyrrolidone (1-Ethyl-2-pyrrolidinone, NEP, CAS 2687-91-4) Market Outlook 2018-2023

Published Date : Jan 2019

The 'Global N-Ethylpyrrolidone (1-Ethyl-2-pyrrolidinone, NEP, CAS 2687-91-4) Market Outlook 2018-2023' offers detailed coverage of n-ethylpyrrolidone industry and presents main market trends. The market research gives historical and forecast market size, demand, end-use details, price trends, and co...

Global Silane Coupling Agents Market Outlook 2018-2023

Published Date : Jan 2019

The 'Global Silane Coupling Agents Market Outlook 2018-2023' offers detailed coverage of silane coupling agents industry and presents main market trends. The market research gives historical and forecast market size, demand, end-use details, price trends, and company shares of the leading silane cou...

 

Select License :

  • Single User : $4500
  • Multiple User : $7000
  • Corporate User : $10000

Happy To Assist You

Assist you at Worldwide Market Reports

We will be happy to help you find what you need. Please call us or write to us:

Worldwide Market Reports Benefits

Custom Research Solution

Talk to our research consultant to design an exclusive report as per your research needs.

Customer Fulfilment

We aim to fulfil client's research demands with tailored research solutions.

Quick Turnaround Time Reports

We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

360-degree Approach

We cover each industry from supply and demand side with an aim to provide a most holistic research study.