October 21, 2023 Posted by: CryoCON
Cryotherapy 2024: The Next Big Thing in Wellness?
The future of wellness is constantly shifting, and cryotherapy is at the forefront of this change. You’ve likely heard the buzz, but you might wonder what it means for your wellness business.
In this blog, we’ll cover the rapidly growing cryotherapy market, explore its potential impact on the wellness industry in 2024, and delve into its increasing relevance for business owners. So, get ready to learn about this once-small trend that’s making monumental waves in the wellness world and beyond!
The Rapid Growth of the Cryotherapy Market
Back in 2022, the whole cryotherapy market was worth about 260.9 million dollars. In 2023, this number is expected to more than double to around 589.5 million dollars and is predicted to keep growing steadily over the next decade at about 8.5% each year.
This expansive growth shows that cryotherapy isn’t just a trend; it’s gaining recognition in the mainstream.
The wellness industry is constantly evolving, and cryotherapy in 2024 stands at the precipice of being the next biggest thing. Innovations in cryotherapy equipment and more accessible options could make it a staple in health and wellness regimes globally. Technology is evolving, and so are the opportunities for personalized cryotherapy experiences.
Cryotherapy 2024: Impact on the Wellness Business
The buzz around cryotherapy is not just around consumer behavior and adoption. It can be the key to leveling up your spa, gym, or facility. Adding cryotherapy to your services could make your business and service offerings more competitive and versatile. Given the demonstrated cryotherapy benefits, it’s becoming an increasingly important part of the health and wellness portfolio.
The market for cryotherapy is mainly split into three parts: hospitals and special clinics, standalone cryotherapy centers, and finally, spas and fitness centers. In 2022, the hospitals and special clinics were worth 148.4 million dollars. But here’s where it gets exciting for anyone in this industry: spas and fitness centers are where the real growth is expected. They are predicted to grow the fastest in the coming years!
Why Cryotherapy Could be Wellness Big Thing in 2024
Over the next few years, cryotherapy will take off in spas and fitness centers. People can’t get enough wellness benefits like feeling less sore, recovering from workouts faster, and even improving blood flow. If you’re in the wellness business, this kind of offering can attract diverse new customers.
With increasing studies that back up the benefits of cryotherapy for health and holistic wellness, it’s becoming clear that cryotherapy is steadily earning its place as a go-to wellness treatment and could be a valuable asset for your business.
How Cryotherapy Wellness Benefits Your Business
As we delve into the future of wellness, it’s essential to recognize how incorporating cryotherapy can substantially benefit your customers, business, and bottom line. Let’s examine some key advantages:
1. Enhances service offerings: cryotherapy provides a wide range of wellness benefits, including muscle recovery, pain relief, and even mental well-being, making it a valuable addition to your service list.
2. Sets you apart from competitors: Depending on where your franchises or physical storefronts are, you can potentially be an early adopter of cryotherapy in your area, giving you a competitive edge in the local market.
3. Attracts a broader clientele: With cryotherapy benefits ranging from quicker post-workout recovery to improved mental health, cryotherapy appeals to a diverse customer base.
4. Additional revenue streams: Similar to the previous point, adding cryotherapy services to your offerings can unlock more revenue streams and upsell opportunities. If your clientele can get everything they need to achieve better health outcomes at your facility, they’ll keep coming back!
5. Increases customer loyalty and retention: Offering a highly sought-after service like cryotherapy can encourage customers to return and even become long-term clients.
6. Boosts word-of-mouth referrals: Satisfied customers will likely recommend your services to others, expanding your customer base.
7. Aligns with future trends: With growing interest in cryotherapy in 2024 and beyond, investing in this treatment can position your business for future success.
Staying Ahead at CryoCON 2024
With its wide range of health benefits, cryotherapy is on track to become a significant player in the coming decades.
Advances in technology and a growing body of research make it an appealing option for both personal wellness and business owners. To stay ahead of the curve, why not experience the future of cryotherapy and similar trends yourself?
Join us for our fourth annual CryoCON event, hosted by Art of Cryo, on March 2 & 3, 2024, at the Renaissance Hotel in Legacy West! At CryoCON 2024, you’ll be able to network with professionals in the global wellness business community as well as other industry professionals to discover new products and services, share cutting-edge ideas, and learn the latest trends on running a more successful business.
Secure your spot now at the Cryotherapy Exhibition 2024!