The cryotherapy global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cryotherapy Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cryotherapy market size has grown rapidly in recent years. It will grow from $7.54 billion in 2023 to $8.32 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to the rise in prevalence of cancer, rise in preference for minimally invasive techniques, increased applications of cryosurgery, increased popularity of cryotherapy for sports and fitness applications, growth in preference for minimally or non-invasive procedures.
The cryotherapy market size is expected to see rapid growth in the next few years. It will grow to $12.46 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to the increasing number of non-invasive and minimally invasive procedures, increasing product launches, reasonably priced cryotherapy equipment, rising cryotherapy device use, and growing focus on expanding cryotherapy applications. Major trends in the forecast period include technological advancements in cryotherapy equipment, product launches, technological advancements and penetration of cryotherapy, and healthcare advancements.
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Scope Of Cryotherapy Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cryotherapy Market Overview
Market Drivers –
The increasing number of non-invasive and minimally invasive procedures is expected to propel the growth of the cryotherapy market going forward. Non-invasive and minimally invasive procedures are medical interventions designed to diagnose, treat, or manage health conditions with minimal disruption to the body's normal anatomy and physiology. The demand for non-invasive and minimally invasive procedures is increasing due to reduced risk and complications, faster recovery, minimal downtime, and less pain and discomfort. Cryotherapy offers a non-invasive approach to treating various medical conditions and cosmetic concerns, making it an attractive option for patients seeking less invasive alternatives to traditional surgical interventions. For instance, according to The Aesthetic Society, a US-based organization of plastic surgery and cosmetic medicine, total minimally invasive cosmetic procedures in the USA reached 23.7 million in 2022, an increase of 70% from 2021. Further, Americans spent more than $11.8 billion on aesthetic procedures, up 2% from the previous year. Therefore, the increasing number of non-invasive and minimally invasive procedures is driving the growth of the cryotherapy market.
Market Trends –
Major companies operating in the compression bandage market are developing innovative products, such as mini compression bandages, to provide enhanced wound care and medical compression therapy. Mini compression bandages are compact and versatile medical products designed for bleeding control in cases of minor to moderate trauma, emphasizing the critical aspect of time in saving lives during emergencies. For instance, in February 2021, H&H Medical Corporation, a US-based manufacturer of critical trauma care products, launched Mini 2x Gauze Compression, a mini compression bandage designed to offer advanced solutions for various medical needs, including wound care and compression therapy. This product combines gauze for wound packing and wrapping with a compression bandage, providing a compact and effective solution for bleeding control. It is designed to be sterile, single-use, and ideal for on-the-go trauma response, emphasizing its convenience and effectiveness in emergencies.
The cryotherapy market covered in this report is segmented –
1) By Therapy Type: Cryosurgery, Icepack Therapy, Chamber Therapy
2) By Device: Cryosurgery Device, Localized Cryotherapy Device, Cryochambers And Cryosaunas, Cryogun
3) By Application: Surgical Applications , Oncology, Dermatology, Cardiology
4) By End-user: Hospitals And Specialty Clinics, Cryotherapy Centers, Spas And Fitness Centers
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Regional Insights –
North America was the largest region in the cryotherapy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cryotherapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the cryotherapy market are Medtronic Plc, Stryker, Boston Scientific Corporation, CooperSurgical Inc., Erbe Elektromedizin GmbH, Quantum Cryogenics, Zimmer MedizinSysteme GmbH, CryomedPro, CryoConcepts LP, Brymill Cryogenic Systems, US Cryotherapy, Cortex Technology, Impact Cryotherapy, MECOTEC GmbH, CryoBuilt Inc., Cryomachines Inc., IceCure Medical Ltd., Cryoalfa, Galil Medical Inc., CRYO Science, Titan Cryo.
Table of Contents
1. Executive Summary
2. Cryotherapy Market Report Structure
3. Cryotherapy Market Trends And Strategies
4. Cryotherapy Market – Macro Economic Scenario
5. Cryotherapy Market Size And Growth
…..
27. Cryotherapy Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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