Cryotherapy Market By Therapy Type (Cryosurgery, Icepack Therapy, and Chamber Therapy), By Product Type (Cryoguns, Cryo Probes, Gas Cylinders, and Others), By Application (Oncology, Cardiology, Dermatology, Pain Management, Ophthalmology, and Gynecology), Industry Trends, Estimation & Forecast, 2023-2030

Market Overview

Cryotherapy is a treatment that uses cryoprobe, liquid nitrogen and argon gas to create intense freeze and destroy diseased tissue, like cancer cells. Cryotherapy is also used to treat a variety of skin conditions as well as tumours within the kidneys, liver, bones, lungs and breasts. Cryotherapy helps to treat migraines by cooling and numbing nerves in the neck area. Whole-body cryotherapy shows a positive effect on mood disorders like anxiety and depression.

Cryotherapy market was valued at 6.8 billion US$ in 2022 and is projected to reach 11.9 billion US$ by 2030, at a CAGR of 7.2% during the forecast period.

Market Dynamics

Rising demand for cryoablation procedures is boosting the global cryotherapy market. For instance, cryoablation is used in patients with prostate cancer, kidney cancer, and pain applications. In 2018, cancer was responsible for an estimated 17 million cases globally. Cryoablation is used to relieve the pain and symptoms caused by cancer that spreads to the bone or other organs. The regulatory bodies are expanding the use of cryoablation due to the increasing demand for cryoablation procedures in cancer. For instance, the Food and Drug Administration (FDA) has expanded clearance of cryoablation technology for kidney, liver, head/neck, ear, nose or throat tumors. Researchers are developing affordable cryoablation devices for developing and underdeveloped nations. For instance, John Hopkins University has developed a cryoablation probe for breast cancer, that uses carbon dioxide instead of argon, which makes it affordable and accessible for use in underdeveloped regions. In 2018, there are more than 200,000 cryotherapy procedures have been performed around the world. Moreover, increasing regulatory approval for Cryotherapy are key driving factors of the market. However, High cost of cryotherapy devices and side effects of Cryotherapy might hamper the market growth. For instance, Multiple sessions are conducted to receive the full benefits of cryotherapy. A single session may cost between $60 and $100, and the cost varies from places to places. Whole-body cryotherapy machines are costly. The cost of cryotherapy devices varies based on liquid nitrogen and electricity to run the machine. Other costs may include tax, delivery, and set-up, which vary by location. Cryotherapy whole-body machines range between $150,000 to $600,000. Rising investments in new emerging sectors for cryotherapy would provide lucrative opportunities for the market in the coming years.

Market Segmentation

The global Cryotherapy market is mainly classified based on Therapy Type, Product Type, Application. Therapy Type is further segmented into Cryosurgery, Icepack Therapy, Chamber Therapy. By Product Type, the market is divided into Cryoguns, Cryo Probes, Gas Cylinders, Others. By Application, the market is further divided into Oncology, Cardiology, Dermatology, Pain Management, Ophthalmology, Gynecology.

Cryosurgery was dominating the global cryotherapy market by therapy type in 2019. Cryosurgery involves the use of freezing temperatures to eliminate destructive human tissues, generally cancerous. The possibilities of a patient’s same-day return to home would further improve the rate of product application in the field of cryosurgery. The health institutes and pharmaceutical companies are, however, optimistic and focused on the research & development of cryogenic procedures in the treatment of diseases. For instance, on November 28, 2018, the Radiological Society of North America (RSNA) announced research results which displayed early indications of cryosurgery effectiveness in treating women with low-risk breast cancers.

Regional Analysis

Based on geography, the global Cryotherapy market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America was dominating the global cryotherapy market in 2019. The increasing incidence of cancer, regulatory approval for Cryotherapy devices, strategic alliance between companies to develop technologically advanced Cryotherapy devices, and companies are expanding application for cryotherapy are some of the factors boosting the market. For instance, In the United States, 1,806,590 new cancer cases and 606,520 cancer deaths are projected to occur in 2020, and the prevalence rate is 5.5%. The technological advancement in Cryotherapy would improve market growth. For instance, Katy Trail Cryo has introduced the Cryo T Shock machine to cryotherapy businesses and medspas in the United States. This launch will provide inexpensive, effective and painless solutions for whole body cryotherapy recovery processes and aesthetic procedures.

Competitive landscape

Key players operating in the Cryotherapy industry include CryoConcepts LP, Medtronic, Brymill Cryogenic Systems, Metrum Cryoflex, The Cooper Companies, Inc., Zimmer MedizinSystems, Cortex Technology, Erbe Elektromedizin GmbH, Special Medical Technology, BTG plc, CryoSurgery, CryoPen, Cool Renewal, Symmetry Surgical Inc.

The introduction of new cryotherapy center, strategic alliance between companies to develop technologically advanced Cryotherapy devices, companies are expanding application for cryotherapy, and regulatory approval for the Cryotherapy devices are key strategy adopted by the companies. For instance, on May 08, 2019, CryoConcepts, LP, has received FDA clearance on two new, patent pending, cryosurgical devices for the physician’s office market, including CryoTouch, and CryoLab. CryoTouch is a portable cryosurgical device that delivers cryogen to lesion sites. CryoLab is a benchtop unit that provides cryogen for medical practices that perform a high volume of cryosurgery.

Cryotherapy Market Key Segments

By Therapy Type
• Cryosurgery
• Icepack Therapy
• Chamber Therapy

By Product Type
• Cryoguns
• Cryo Probes
• Gas Cylinders
• Others

By Application
• Oncology
• Cardiology
• Dermatology
• Pain Management
• Ophthalmology
• Gynecology

Key Global Cryotherapy Industry Players
• CryoConcepts LP
• Medtronic
• Brymill Cryogenic Systems
• Metrum Cryoflex,
• The Cooper Companies, Inc.
• Zimmer MedizinSystems
• Cortex Technology
• Erbe Elektromedizin GmbH
• Special Medical Technology
• BTG plc
• CryoSurgery
• CryoPen
• Cool Renewal
• Symmetry Surgical Inc.

Table of Content

1. Market Introduction
1.1. Executive Summary
1.2. Market Definition
1.3. Market Scope

2. Research Methodology
2.1. Primary Research
2.2. Research Methodology
2.3. Assumptions & Exclusions
2.4. Secondary data sources

3. Cryotherapy Market Overview
3.1. Report Segmentation & Scope
3.2. Key Market Trend
3.3. Drivers
3.3.1. Rising Demand for cryoablation procedures
3.3.2. Increasing regulatory approval for Cryotherapy
3.4. Restraints
3.4.1. The high cost of cryotherapy devices and side effects of Cryotherapy
3.5. Opportunity
3.5.1. Rising investments in new emerging sectors for cryotherapy
3.6. Porter’s Five Forces Analysis
3.6.1. Porter’s Five Forces Analysis
3.7. Market Share Analysis

4. Therapy Type Overview
4.1. Introduction
4.1.1. Market Size & Forecast
4.2. Cryosurgery
4.2.1. Market Size & Forecast
4.3. Icepack Therapy
4.3.1. Market Size & Forecast
4.4. Chamber Therapy
4.4.1. Market Size & Forecast

5. Product Type Overview
5.1. Introduction
5.1.1. Market Size & Forecast
5.2. Cryoguns
5.2.1. Market Size & Forecast
5.3. Cryo Probes
5.3.1. Market Size & Forecast
5.4. Gas Cylinders
5.4.1. Market Size & Forecast
5.5. Others
5.5.1. Market Size & Forecast

6. Application Overview
6.1. Introduction
6.1.1. Market Size & Forecast
6.2. Oncology
6.2.1. Market Size & Forecast
6.3. Cardiology
6.3.1. Market Size & Forecast
6.4. Dermatology
6.4.1. Market Size & Forecast
6.5. Pain Management
6.5.1. Market Size & Forecast
6.6. Ophthalmology
6.6.1. Market Size & Forecast
6.7. Gynecology
6.7.1. Market Size & Forecast

7. Cryotherapy Market Regional Overview
7.1. Introduction
7.1.1. Market Size & Forecast
7.2. North America Cryotherapy Market
7.2.1. North America Market Size & Forecast, By Country
7.2.2. North America Market Size & Forecast, By Therapy Type
7.2.3. North America Market Size & Forecast, By Product Type
7.2.4. North America Market Size & Forecast, By Application
7.2.5. The U.S.
7.2.5.1. Market Size and Forecast
7.2.6. Canada
7.2.6.1. Market Size and Forecast
7.2.7. Mexico
7.2.7.1. Market Size and Forecast
7.3. Europe Cryotherapy Market
7.3.1. Europe Market Size & Forecast, By Country
7.3.2. Europe Market Size & Forecast, By Therapy Type
7.3.3. Europe Market Size & Forecast, By Product Type
7.3.4. Europe Market Size & Forecast, By Application
7.3.5. Germany
7.3.5.1. Market Size and Forecast
7.3.6. France
7.3.6.1. Market Size and Forecast
7.3.7. UK
7.3.7.1. Market Size and Forecast
7.3.8. Italy
7.3.8.1. Market Size and Forecast
7.3.9. Spain
7.3.9.1. Market Size and Forecast
7.3.10. Rest of Europe
7.3.10.1. Market Size and Forecast
7.4. Asia-Pacific Cryotherapy Market
7.4.1. Asia-Pacific Market Size & Forecast, By Country
7.4.2. Asia-Pacific Market Size & Forecast, By Therapy Type
7.4.3. Asia-Pacific Market Size & Forecast, By Product Type
7.4.4. Asia-Pacific Market Size & Forecast, By Application
7.4.5. Japan
7.4.5.1. Market Size and Forecast
7.4.6. China
7.4.6.1. Market Size and Forecast
7.4.7. Australia
7.4.7.1. Market Size and Forecast
7.4.8. India
7.4.8.1. Market Size and Forecast
7.4.9. South Korea
7.4.9.1. Market Size and Forecast
7.4.10. Rest of Asia-Pacific
7.4.10.1. Market Size and Forecast
7.5. South America Cryotherapy Market
7.5.1. South America Market Size & Forecast, By Country
7.5.2. South America Market Size & Forecast, By Therapy Type
7.5.3. South America Market Size & Forecast, By Product Type
7.5.4. South America Market Size & Forecast, By Application
7.5.5. Brazil
7.5.5.1. Market Size and Forecast
7.5.6. Argentina
7.5.6.1. Market Size and Forecast
7.5.7. Rest of South America
7.5.7.1. Market Size and Forecast
7.6. Middle East & Africa Cryotherapy Market
7.6.1. Middle East & Africa Market Size & Forecast, By Country
7.6.2. Middle East & Africa Market Size & Forecast, By Therapy Type
7.6.3. Middle East & Africa Market Size & Forecast, By Product Type
7.6.4. Middle East & Africa Market Size & Forecast, By Application
7.6.5. GCC Countries
7.6.5.1. Market Size and Forecast
7.6.6. Egypt
7.6.6.1. Market Size and Forecast
7.6.7. South Africa
7.6.7.1. Market Size and Forecast
7.6.8. Rest of Middle East & Africa
7.6.8.1. Market Size and Forecast

8. Company Profile
8.1. CryoConcepts LP
8.1.1. Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
8.1.2. CryoConcepts LP Product Category, Application, and Specification
8.1.3. CryoConcepts LP Financial Performance (2016-2018)
8.1.4. Main Business/Business Overview
8.2. Medtronic
8.3. Brymill Cryogenic Systems
8.4. Metrum Cryoflex,
8.5. The Cooper Companies, Inc.
8.6. Zimmer MedizinSystems
8.7. Cortex Technology
8.8. Erbe Elektromedizin GmbH
8.9. Special Medical Technology
8.10. BTG plc
8.11. CryoSurgery
8.12. CryoPen
8.13. Cool Renewal
8.14. Symmetry Surgical Inc.