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| Cryotherapy Market |
Overview:
Cryotherapy can be used to treat a variety of conditions,
including chronic pain, skin issues, sports injuries, and more. It is often
used as an alternative treatment for several health conditions, and it has also
been found to have some positive side effects. Local cryotherapy uses a cold
stream of nitrogen gas to target specific injuries or areas of pain. This
treatment can be applied using a spray gun, a cotton swab, or a small probe
inserted into the tissue. It can be used to relieve pain from pinched nerves,
neuromas, or chronic pain and acute injuries. This is a very safe procedure for
most people. The ultra-cold temperatures can cause physiological hormonal
responses that result in the release of adrenaline, noradrenaline, and
endorphins. This can have a positive impact on those who suffer from mood
disorders like anxiety and depression. It can also improve mood by reducing
inflammation and increasing antioxidant levels in the bloodstream.
According to Coherent Market
Insights, the global Cryotherapy
Market is estimated to be valued at US$ 246.8 million in 2021 and is
expected to exhibit a CAGR of 9.0 % during the forecast period (2021-2028).
Market
Dynamics:
Growing product launches are
estimated to augment the growth of the global Cryotherapy
Market during the forecast period. For instance,
The
Bulgari SPA London introduced four revolutionary cryotherapy treatments in May
2022. These are suitable for men and women. For targeting specific areas for
alleviating pain, speeding up recovery, and inflammation the Cryotherapy Sports
Massage can be used. Moreover, a lack of awareness and rising cases of casualties is anticipated to restrain the growth
of the
global market during the forecast period.
Impact
of COVID-19:
The
pandemic affected several nations globally. It was first reported in 2019 in
China. Many countries imposed strict lockdowns to avoid transmission of the
disease. During COVID-19, manufacturing activities were halted in many sectors.
Many sectors had to shut down operations, owing to a shortage of raw materials
and disruptions in supply chains. Recreational activities, cafes, gyms, and
social events were also shut down during the pandemic. This had a huge negative
impact on the demand for cryotherapy. The pandemic hindered the growth of the global Cryotherapy Market. However, the market
is estimated to witness growth in the post-pandemic era, as all restrictions
have been eased.
Key
Takeaways:
For instance, IceCure gained approval for
commercial use in March 2023. This approval will help the company in targeting
a significant market.
North
America is anticipated to witness growth in the global Cryotherapy Market during
the forecast period, due to growing disposable
income levels and increasing well-established healthcare infrastructure. The Europe
Cryochambers Market is estimated to be valued at US$ 64.8 million in
2023 and is expected to exhibit a CAGR of 5.5% during the forecast period
(2023-2030).
Key players operating
in the
global Cryotherapy Market are Zimmer MedizinSysteme GmbH, Brymill Cryogenic
Systems, Wallach Surgical Devices, Metrum Cryoflex, Cryoalfa, CryoConcepts LP,
and Medtronic Medicale S.r.l.