Rapid expansion of product indications and geographical expansion of product offerings by key players are the key growth drivers in the Europe cryochambers market
Cryotherapy is the application of extremely low temperature (-170 C to -240 C) applied for a short time to achieve medical or aesthetic effects such as stimulation of physiological reactions in the human body. Ever-increasing beauty industry of Europe is adopting the thriving new concept of whole body cryotherapy, which is attributed to the growth of the Europe cryochambers market. Increasing adoption of whole body cryotherapy by sports persons and elite athletes is increasing demand for cryochambers in Europe.
Rising number of sports injuries and continuous expansion of cryotherapy applications are some of the factors driving revenue growth of the Europe cryochambers market. Key players in the Europe market are focusing on forming strategic partnerships with key end users such as sports associations.
Persistence Market Research forecasts the Europe cryochambers market to grow from more than US$ 40 Mn in 2015 to nearly US$ 66 Mn by 2024 end. This represents a CAGR of 5.4% over the forecast period. The Europe cryochambers market is anticipated to represent absolute $ opportunity of US$ 2.2 Mn in 2017 over 2016 and incremental opportunity of nearly US$ 26 Mn between 2016 and 2024.
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- Zimmer MedizinSysteme GmbH
- KrioSystem Sp. z.o.o
- Air Products and Chemicals, Inc.
- METRUM CRYOFLEX Sp. z o.o., Sp. K.
- Novotech S.R.O
- CryoAction Limited
- JUKA SP. Z.O.O. SP.K.
- CRYO Science
Europe cryochambers market is expected to be driven by the adoption of whole body cryotherapy in sports medicine
Europe cryochambers market is mainly driven by rapid adoption by sports and athletes associations, entry of new players in the market, launch of new user-friendly and advanced products, captivating product features offered by companies etc. Moreover, surge in the number of sports injuries, expansion of product indications, and geographical expansion of product offerings by key market players are some other factors fueling the growth of the Europe cryochambers market over the forecast period. Introduction of more efficient cryosauna is expected to increase the adoption rate of individual cryotherapy chambers by facilities such as spas and fitness centers.
However, lack of evidence pertaining to the safety and efficacy of cryotherapy for certain medical applications, lack of fully evolved regulatory pathways, adverse effects of cryotherapy, shortage of cryogenic liquids and gases in some of the central and eastern European countries etc. are the prominent factors limiting the growth of the Europe cryochambers market.
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Poland is projected to dominate the Europe cryochambers market over the forecast period 2016–2024
The Europe cryochambers market has been segmented by country into Germany, Italy, France, U.K., Spain, Poland, Belgium, Netherlands, Czech Republic and Rest of Europe. Poland will continue to lead the Europe market through 2024 and is expected to register a CAGR of 6.6% over the forecast period.
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Poland Cryochambers Market Analysis and Forecast, 2016–2024
Poland has highest number of modern cryochambers in operation and majority of them are used in medical applications
The Poland cryochambers market will grow from more than US$ 7 Mn in 2015 to nearly US$ 13 Mn by 2024 end. Poland is the fastest growing market for cryochambers in Europe and virtually every rehabilitation and physiotherapy center in Poland is equipped with individual or multiple person cryochambers. The market is expected to create incremental opportunity of nearly US$ 6 Mn between 2016 and 2024 and is expected to contribute 22.4% of the total incremental opportunity of the Europe cryochambers market.
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Poland Cryochambers Market Attractiveness Analysis, 2016–2024
Availability of unique cold retention cryochambers in the country distinguishes the Poland cryochambers market from other European markets
By product type, multiple person cryochambers dominated the Poland cryotherapy market in terms of revenue in 2015 and is projected to continue to do so over the forecast period. The multiple person cryochambers segment is expected to represent a market attractiveness index of 1.3. Despite the fact that individual cryotherapy units are more economical, multiple person cryochambers are more popular in Poland due to their safety aspects, which avoid direct contact of liquid cryogens with the patient’s body. The dermatology and beauty applications segment and the fitness center and beauty spa end user segment are expected to be the most lucrative market segments over the forecast period.
Growing number of sports injuries provides opportunity for manufacturers and distributors of cryochambers to expand the install base
Cryotherapy is largely applied in the treatment and healing of sports injuries and muscle soreness caused to athletes. Increasing number of sports injuries across the globe provides good opportunity to manufacturers of cryotherapy chambers to expand their business by providing cryosaunas to sports associations. Out of all sports injuries, over 57% of injuries are caused due to football and basketball, where cryotherapy can be effectively applied to hasten the healing process.