Market Definition
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.
Market Outlook
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.
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.
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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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Global Cold Pain Therapy Market Segmentation
The report analyses the global cold pain therapy market based on product, application, distribution channel, and region. Global Cold Pain Therapy Market by Product Based on product, it is segmented into OTC products, and prescription products. The OTC product segment is likely to dominate the market during the forecast period. The easy accessibility of OTC products in retail and online pharmacies is boosting the growth of the OTC segment in the global cold pain therapy market. Global Cold Pain Therapy Market by Application Based on application, it is segmented into musculoskeletal disorders, sports medicine, post-operative therapy, and post-trauma therapy. The musculoskeletal disorders segment is anticipated to dominate the market during the forecast period. Factors such as immediate pain relief provided by cold pain therapy products are boosting the market growth during the forecast period.
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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).
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
- Market Size in 2024 – US$ 1.8 Billion
- Market Size in 2033 – US$ 3.2 Billion
- CAGR – 5.9%
- Historic Period – 2015-2022
- Forecast Period – 2024-2033
- Base Year – 2024
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