The cryotherapy market is projected to reach USD 319 million by 2024 from USD 206 million in 2019, at a CAGR of 9.1% according to a new report by MarketsandMarkets™. Technological advancements in cryotherapy equipment and its growing popularity in the beauty, wellness, and fitness industries are also supporting the growth of this market.

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Cryosurgery devices are estimated to account for the largest share of the cryotherapy product market

The cryotherapy market is segmented on the basis of products into cryosurgery devices, localized cryotherapy devices, and cryochambers & cryosaunas. The cryosurgery devices segment is further divided into tissue contact probes, tissue spray probes, and epidermal & subcutaneous cryoablation devices.

Hospitals & specialty clinics are the primary end users of the global cryotherapy market

The market is segmented into hospitals & specialty clinics, cryotherapy centers, and spas & fitness centers on the basis of end users. The hospitals & specialty clinics segment estimated to command the largest share of the market.

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The APAC cryotherapy market to grow at the highest CAGR during the forecast period

Asia Pacific is expected to register the highest CAGR during the forecast period. The region's high growth can be attributed to a boom in medical tourism, a growing elderly population in Japan, and an increasing cancer prevalence in India.

The major players operating in the cryotherapy market include Medtronic (Ireland), Galil Medical (US), and CooperSurgical (US). Other players involved in this market include Impact Cryotherapy (US), Zimmer MedizinSysteme (Germany), Metrum Cryoflex (Poland), Brymill Cryogenic Systems (UK), Erbe Elektromedizin (Germany), CryoConcepts (US), US Cryotherapy (US), Professional Products (US), and Kriosystem Life (Poland).

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.