The scope and applications of cryotherapy have significantly increased across different domains. It is gaining wider popularity in addressing skin conditions, pain management, and mental disorders.
According to Coherent Market Insights, the global cryotherapy industry size is projected to reach US$ 623.4 million in 2030. Global cryotherapy demand will likely surge at 11.3% CAGR during the assessment period.
Zimmer MedizinSysteme GmbH, Cortex Technology, Boston Scientific Corporation, Impact Cryotherapy, Stryker, CryoBuilt, Inc., and Medtronic are few leading industry players. Top companies are constantly launching novel cryotherapy devices with enhanced features.
Leading players are targeted people with chronic pain, skin conditions, and mental disorders. They are also partnering with spas, gyms, and other businesses to boost their revenues. Acquisitions, collaborations, and partnerships are also gaining traction in the industry.
In April 2024, MECOTEC GmbH introduced the cryo:one+ chamber, its latest innovation in cryotherapy. The new solution will help athletes recover from a training session, sports injury, or competition. They can use it to reduce muscle and joint pain while simultaneously relaxing.
In August 2023, Boston Scientific Corporation received U.S. FDA approval for the POLARx Cryoablation System. The new system features the POLARx FIT Cryoablation Balloon Catheter. It is designed for treating patients with paroxysmal atrial fibrillation.
Key Factors Propelling Cryotherapy Industry Growth
The future of cryotherapy industry looks bright. This is due to rising prevalence of chronic conditions and increasing demand for non-invasive therapies.
Incidence of chronic conditions like arthritis and fibromyalgia is rising significantly. This is expected to fuel demand for cryotherapy as an alternative treatment.
Cryotherapy or cold therapy is the use of low temperatures to treat various medical conditions, relieve pain, and promote healing. It is widely used to tackle conditions like cancer, skin diseases, and soft tissue injuries.
Growing interest in non-invasive therapies is playing a key role in propelling cryotherapy demand. Cold therapy is non-invasive and has fewer side effects. As a result, it is becoming an ideal treatment option for pain management, mental disorders, and skin conditions.
Rapid expansion of the sports and fitness industry is also impacting sales growth. Popular athletes like Cristiano Rolando are increasingly opting for whole-body cryotherapy to reduce inflammation and improve recovery times.
Rising applications of cold therapy in skincare domain will likely create lucrative growth prospects for players. Cryotherapy is being widely used in skin tightening, acne management, and anti-aging treatments.
Top players are developing new portable cryotherapy devices with low costs. This is expected to make cryotherapy more accessible, leading to the industry’s expansion.
Regional Insights
North America dominates the global cryotherapy industry, and the trend will likely persist through 2030. This is due to rising prevalence of cancer and dermatologic disorders and growing interest in non-invasive treatments. Growing usage of cold therapy for pain management is also contributing to industry growth in North America.
