The global cryotherapy market is estimated to be valued at US$ 365.19 Mn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 To 2031.
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.
The key opportunities in the cryotherapy market include growing popularity of cryotherapy as an alternative treatment for pain management and increasing adoption for cosmetic applications. Technological advancements like introduction of cordless cryotherapy devices and integration of advanced cooling systems are further expected to drive the adoption of cryotherapy.
Market drivers
The key drivers propelling the Cryotherapy Market Demand are rising geriatric population suffering from muscle and joint pain, growing demand for minimally invasive procedures, and increasing prevalence of skin diseases. Cryotherapy provides instant pain relief without surgery or medications and helps treat various medical conditions effectively. This has increased its popularity globally and is expected to boost the market during the forecast period.
Challenges in Cryotherapy Market
Cryotherapy is facing various challenges which need to be addressed for further growth of the market. Lack of trained professionals for operating cryotherapy equipment is a major challenge. As cryotherapy involves use of extremely cold temperatures, safety of the procedure is a concern. Adverse effects of cryotherapy like pain, bruising, swelling and rare chances of cryoneurosis or cryoderma need to be minimized. Lack of awareness about cryotherapy and preference for other conventional treatment options also restrict the market growth. High cost of treatment and equipment limits widespread adoption of cryotherapy. Reimbursement issues related to cryotherapy further challenge the market expansion.
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