Cryotherapy Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Cryosurgery Devices (Tissue Contact Probes, Tissue Spray Probes, Epidermal and Subcutaneous Cryoablation Devices), Localized Cryotherapy Devices Cryochambers & Cryosaunas), By Application (Cardiology, Dermatology, Oncology, Pain Management, Recovery, Health, and Beauty), By End User (Hospitals & Specialty Clinics, Cryotherapy Centers, Others), and Region

Cryotherapy Market size was valued at US$ 312.6 million in 2023 and is poised to grow at a CAGR of 4.8% from 2024-2030. The market owing to the rising prevalence of cancer and increasing incidence of skin disorders and is also an alternative to minimally invasive surgical treatments and radiation treatment for prostate cancer treatment are expected to drive the growth of the market. Moreover, growing popularity in the beauty, wellness, and fitness industries and advancements in technology, and favorable reimbursement policies fuel the growth of the market.

However, the hazardous effects of cryogenic gases and the lack of evidence to support the claims of whole-body cryotherapy are expected to hamper the growth of the market. The global cryotherapy market is surging owing to increased approvals and strategic collaborations among the market players to strengthen their position in different regions of the globe. For instance, in June 2017, Channel Medsystems received CE Mark Approval for the Cerene Cryotherapy Device for endometrial ablation procedures.

As per World Health Organisation (WHO), cancer mortality in the developing countries is expected to reach 6.7 Mn by 2015. Similarly, American Cancer Socity estimates that about 12,280 new invasive cervical cancer will be diagnosed in 2017. This suggests that there is huge demand exists for cancer therapy options across the globe. Market players are focusing on advanced product designing and development to strengthen their product to enhance their sales revenue in market.