The global cold pain therapy market was valued at USD 1.8 billion in 2021 and it is anticipated to grow at 5.9% CAGR during the projection period to reach up to USD 3.2 billion by 2031.
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Cold pain therapy includes the usage of cold materials to relieve pain. Cryotherapy is generally used as an essential injury management skill. Ice packs are applied to inflammations and injuries to help reduce pain and swelling. Studies suggest that cold compression slows blood flow to the injury, thereby reducing pain, inflammation, and muscle spasm. Ice packs are effective, inexpensive, and drugless methods to relieve pain from sprains, strains, bruises, tendinitis, and swelling caused due to trauma to superficial tissues. Cold packs, used on inflammations act as a primary analgesic to relieve pain. Cold pain therapy is primarily used on fresh injuries such as ligament sprains, muscle sprains, and severe bruises. This therapy is used for chronic overuse or tissue fatigue injuries such as carpal tunnel syndrome, tennis elbow, supraspinatus tendinitis, iliotibial band syndrome, patellofemoral pain syndrome, and plantar fasciitis.
Market Trends and Drivers
The key factor boosting the market growth is increasing the number of hip and knee surgeries. There has been observed that aging-related changes in the musculoskeletal system increase the propensity to osteoarthritis (OA), and the severity of the disease is closely related to other OA risk factors such as joint injury, obesity, genetics, and anatomical factors that affect joint mechanics. OA is not an inevitable consequence of growing old, although older age is the greatest risk factor for OA. The market demand for surgical treatment, including joint replacement surgery (hip and knee replacement), is expected to increase significantly, owing to the rapidly increasing aging population across the globe.
Similarly, the increasing adoption of analgesic patches is also refueling the market growth. Analgesic patches feature a transdermal drug delivery system, which is a non-invasive mode of medication delivery through the skin. Patches deliver an analgesic drug at a fixed rate across the dermis, while placed on the skin. The use of analgesic patches through transdermal drug delivery systems offers certain advantages over oral medications.
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Market Restraints and Challenges
The key factor hindering the market growth is the growing use of low-priced analgesic pills for immediate pain relief. The most widely used OTC analgesic drugs are paracetamol or acetaminophen, ibuprofen, and aspirin. These drugs are widely available at lower costs. This, combined with the lack of awareness of the adverse effects of painkillers, is a key factor contributing to the high adoption of analgesic pills for immediate pain relief. Additionally, owing to the lack of awareness about new therapies for pain management, the availability of low-priced generic versions of drugs, and increasing health concerns are contributing to the high usage of analgesic pills which cause a high adoption of OTC drugs by customers in emerging nations.
Major Players in Cold Pain Therapy Market
The key players in the global cold pain therapy market are Beiersdorf AG (Germany), DJO Global, Inc. (US), Hisamitsu Pharmaceutical Co., Inc. (Japan), Össur (Iceland), Johnson & Johnson (US), Pfizer (US), Sanofi (France), Rohto Pharmaceutical (Japan), 3M (US), Cardinal Health Inc. (US), Bird & Cronin (US), Compass Health Brands (US), Breg, Inc. (US), Medline Industries (US), Performance Health (US), Romsons Group of Industries (India), Unexo Life Sciences (India), Polar Products (US), Rapid Aid (Canada), Mueller Sports Medicine (US), Pic Solution (US), Bruder Healthcare Company (US), Brownmed Inc. (US), Medichill (Australia), and ThermoTek, Inc. (US).
COVID-19 Impact
The emergence of the COVID-19 pandemic has changed the delivery of medical care across the globe. The supply chains have faced major disruptions worldwide and adjusted to the ongoing needs and demands for cold therapy products among people living with musculoskeletal and arthritis pain. Several rehabilitation centers and pain treatment centers were shut down abruptly owing to the pandemic, which has lowered the access to cold pain therapy products across and within populations with a higher burden of musculoskeletal pain. The pain management product manufacturers have faced challenges in terms of delivering cold therapy devices through different modes due to the length of lockdowns.
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