August 18, 2022 14:05 ET | Source: Facts & Factors Facts & Factors
DUBLIN, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Cryotherapy Units Market Size, Share, Growth Analysis Report By Product Type (Whole Body Cryotherapy and Partial Body Cryotherapy), By Cryogen Type (Liquid Nitrogen Therapy, Dry Ice Therapy, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Cryotherapy Units Market size & share was valued at approximately USD 361.4 million in 2021. The market is expected to grow above a CAGR of 5.10% and is anticipated to reach over USD 487.08 million by 2028.”
The report analyses the cryotherapy units market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global cryotherapy units market.
What are Cryotherapy Units? How big is the Cryotherapy Units Industry?
Cryotherapy is also commonly referred to as cold therapyor ice pack therapy, in addition to treating a variety of tissues or nerve diseases. In addition to treating skin cancer, retinoblastoma, melanoma, and cervical cancer, it also treats a variety of other cancers. Providing patients with ice baths is another method that can be used to soothe and calm parts of the body that have been aggravated as a result of muscle sprains, tissue injury, or prolonged exertion. Because of the cold, the blood vessels in the body become more constricted, which in turn limits the quantity of inflammatory cytokines that can go to the site of the extreme pain.
Treatments using cryotherapy make use of a variety of gases, such as argon and nitrogen, among others. Cryoprobes are instruments that are employed in the treatment of primary tumours and malignancies in cancer. These instruments deliver liquid nitrogen to the parts of the body that are being targeted. It is anticipated that the market for cryotherapy equipment would grow as a result of the development of new technologies for treating cancer.
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Key Insights from Primary Research
The development of cryotherapy equipment throughout the years and different technological developments have led to cryotherapy's prominence as a therapeutic option. Among the updated pieces of equipment are accessories and cryosurgery machines. Cryochambers and cryosaunas, which are frequently utilized for pain management, rheumatoid arthritis treatment, and general beauty and health therapies, have also seen advancements. Cryotherapy is still only available in a small number of places.
Cryotherapy is mostly practiced in North America and Europe, and only a small number of other nations, including Japan, China, and Australia, have seen any breakthroughs in this area. This is largely owing to a lack of awareness in those countries. Despite being safer and less unpleasant than highly invasive surgical procedures, it is typically only used for extensive surgical treatments.
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Cryotherapy Units Market: COVID-19 Impact Analysis
Coronavirus disease, also known as COVID-19, is a highly contagious viral sickness that is caused by the SARS-CoV-2 coronavirus. This illness had a terrible effect on the demography of the entire world. The governments of multiple countries set restrictions on the kinds of elective surgeries and medical procedures that hospitals are allowed to perform. During the pandemic, there was a decrease in demand for cryotherapy products and an interruption in their supply.
This was due to the measures that were being taken to bring the pandemic under control. Because of these constraints, manufacturers of cryotherapy equipment were forced to confront challenges such as a shift in customer behavior, a reduction in demand, a change in purchasing patterns, and a redistribution of the supply chain. Each one of these problems has a deleterious effect on the market for cryotherapy.
The report contains qualitative and quantitative research on the global cryotherapy units market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.
Some of the main players in the global Cryotherapy Units market include
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The global cryotherapy units market is segregated based on product type segment analysis and cryogen type segment analysis. Based on product type segment analysis, the market is divided into whole body cryotherapy and partial body cryotherapy. The extensive use of the product type by athletes and other sportspeople due to the frequent incidence of injuries while participating in sports is responsible for the rise of the whole body cryotherapy sector throughout the forecast period. based on cryogen type segment analysis, the market is divided into liquid nitrogen therapy, dry ice therapy and others. In terms of volume, liquid nitrogen therapy will dominate the cryogen market. Due to the safety qualities of liquid nitrogen therapy, it has been widely used during the historical period, which is credited with the segmental growth throughout that time.
North America held the largest market share in the year 2021, and it is anticipated that this will hold true throughout the forecast period. The North American cryotherapy market is being driven by factors such as the increased popularity of cryotherapy, the prevalence of cancer, the increase in sports and physical activity-related injuries, and the prevalence of CVDs. The use of cryotherapy by athletes and fitness and beauty lovers has grown recently in the US, causing several professional and college training departments to install cryosauna equipment at their facilities.
The Canadian Cancer Society additionally promotes the use of cryosurgery/cryoablation for the treatment of certain cancer diseases. Untapped prospects in the area, rising interest in cryosurgery for cancer and skin treatments, a quickly evolving healthcare infrastructure, and rising disposable income levels in emerging nations are all contributing factors to this expansion. New product approval in developing regions is also anticipated to be a significant driving force.
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The global Cryotherapy Units market is segmented as follows:
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