The carboxy therapy market is expected to grow from US$ 85.24 million in 2021 to US$ 190.99 million by 2028; it is estimated to grow at a CAGR of 12.4% from 2022 to 2028.

The report highlights the key factors driving the market and prominent players, along with their developments. The carboxy therapy market growth is attributed to the growing adoption of noninvasive aesthetic procedures, increased demand for antiaging treatments, and a surge in the geriatric population. However, regulatory policies and safety concerns associated with carboxy therapy are hampering the market growth.

Carboxy therapy employs injecting carbon dioxide into the treatment area to stimulate blood flow. It is a non-surgical treatment and is widely being used worldwide to treat cellulite, stretch marks, and dark under-eye circles.

North America accounted for the largest market share in 2021 owing to various factors, such as the increasing demand for antiaging treatments along with surge in non-invasive cosmetic procedures. As per ASAPS 2020, 15.6 million cosmetic procedures were recorded in 2020, which included ~2.3 million cosmetic surgical and 13.2 million cosmetic minimally invasive procedures. In addition, according to the International Society of Aesthetic Plastic Surgery report, in the US, 174,300 photo rejuvenation procedures were performed in 2020. Additionally, the increasing application areas of carboxy therapy in the medical field, such as neurology, gynecology, and urology, are expected to contribute significantly to the growth of the carboxy therapy market.

Furthermore, changing beauty standards, increase consciousness about appearance, and high disposable income in the country is expected to drive the market growth during the forecast period. The expenditure on aesthetic procedures is rising significantly; approximately US$ 20 billion was spent in 2020. Therefore, the growing number of aesthetic procedures and increasing expenditures are likely to support the carboxy therapy market growth and are expected to offer ample revenue growth during the forecast period.

Based on the type, the carboxy therapy market is segmented into tabletop, portable, and others. The tabletop segment held the largest market share in 2021. However, the portable segment is anticipated to register the highest CAGR of 12.6% during the forecast period.

Based on application, the carboxy therapy market is segmented into aesthetic medicine, dermatology, gynecology, angiology, orthopedics and rheumatology, sports medicine, and others. The aesthetic medicine is further segmented into cellulite, stretch marks, alopecia, and dark under-eye circles. In 2021, the aesthetic medicine segment held the largest share of the market. However, the dermatology segment is expected to grow at a significant CAGR of 12.9% during the forecast period.

Based on end user, the carboxy therapy market is segmented into hospitals, aesthetic clinics, and wellness center. The hospitals segment held the largest market share in 2021. However, the aesthetic clinics segment is expected to register the highest CAGR of 12.7% during the forecast period.

COVID-19 Impact - Carboxy Therapy Market

Various containment measures that were enacted by the US government to mitigate the spread of COVID-19 changed the US healthcare service delivery pattern and affected the growth of the carboxy therapy market in the country. Further, the COVID-19 pandemic hampered the carboxy therapy market growth due to the canceled or denied elective surgeries to curb the transmission of SARS-CoV-2. Many aesthetic procedures such as antiaging treatments, face rejuvenation treatments, and nonessential procedures have been delayed due to the crisis. To free-up limited space for the treatment of COVID-19 patients, hospitals have postponed or canceled many elective operations, especially those deemed nonessential or nonurgent. Additionally, the American Society of Plastic Surgeons (ASPS) in May 2020 released a statement to urge the suspension of elective and nonessential procedures of cosmetic and laser surgeries in the US.

Due to the approval and administration of numerous COVID-19 vaccines worldwide, the carboxy therapy market is projected to recover during the forecast period. The aesthetic procedure organizations continue to provide consultations for medical interventions through virtual platforms. The ASPS is encouraging the use of telehealth to arrange preoperative consults and follow-up appointments for postoperative patients. Thus, the COVID-19 pandemic has had a negative impact on the growth of the carboxy therapy market.

Various organic and inorganic strategies are adopted by companies operating in the carboxy therapy market. The organic strategies mainly include product launches and product approvals. Further, inorganic growth strategies witnessed in the market are acquisitions, collaboration, and partnerships. These growth strategies allow the carboxy therapy market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall market growth. Further, acquisition and partnership strategies help the market players strengthen their customer base and expand their product portfolios. A few significant developments by key players in the carboxy therapy market are listed below.

- In January 2020, Cosmo Pro Ltd. launched DIOX carboxytherapy system. The DIOX system features a touch-screen interface and both automatic and manual modes.

A few major primary and secondary sources referred to while preparing the report on the carboxy therapy market are the World Health Organization (WHO), the Centers for Disease Control (CDC), and the Food and Drug Administration (FDA).