The cryotherapy market was valued at USD 240.6 million in 2022 and it is anticipated to grow up to USD 419.1 million by 2032, at a CAGR of 5.6% during the forecast period.
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Several medical disorders, including pain, cancerous and benign tumours, tissue damage or lesions, and sports injuries, are treated using cryotherapy. In cryotherapy, which is also known as cryosurgery, irritated nerves, aberrant skin cells, and localised cancerous growths, such as skin cancer and prostate cancer, are killed by applying targeted freezing temperatures. Cryotherapy involves freezing a damaged nerve by inserting a probe into the tissue close to it. The freezing deactivates the nerve, relieving the unpleasant irritation of the nerve. Localized nerve irritation can be treated with cryotherapy in a relatively safe and efficient manner.
Market Trends and Drivers
Many malignancies, as well as certain precancerous or non-cancerous disorders, are treated using cryotherapy. In addition to liver and prostate tumours, Retinoblastoma, early-stage basal cell and squamous cell carcinomas, actinic keratoses, and cervical intraepithelial neoplasia are among the precancerous diseases that can be successfully treated with cryosurgery. Because to the high incidence and prevalence of cancer as well as the increasing public knowledge of different types of cryotherapy techniques, the oncology sector may have the largest market share over the projection period.
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With the quick advancements in contemporary imaging, less invasive ablative therapies have become well-liked alternatives to surgical tumour removal or cancer treatment. Cryoablation techniques are widely employed, and tumour ablation modalities are presently available in clinical practise. Research on how cryotherapy affects the treatment of cancer is expanding as well. Consequently, it is anticipated that the oncology segment will benefit more from the substantial and growing body of research on the advantages of cryotherapy and combined cryoablation cancer treatments.
Major Players in the Cryotherapy Market
Market players are focusing on strategic collaborations to enhance their product offerings. Some prominent participants in the cryotherapy market include Brymill Cryogenic Systems (US), CooperSurgical Inc. (US), Cryo Innovations (US), CRYO SCIENCE sp.z o.o. (Poland), CryoBuilt, Inc. (US), CryoConcepts, LP (US), CRYONiQ LLC (US), Erbe Elektromedizin GmbH (Germany), METRUM CRYOFLEX Sp. z o.o. (Poland), and Zimmer MedizinSysteme GmbH (Germany), among others.
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Market Segments
By Product Type
- Cryosurgery Devices
- Localized Cryotherapy Devices
- Cryochambers & Cryosaunas
By Application
- Surgical Application
- Pain Management
- Recovery, Health, and Beauty
By End User
- Hospital & Speciality Clinics
- Cryotherapy Centers
- Spas & Fitness Centers
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