2019 Cold Compression Therapy Market Research states Development Strategy expected to yield the Highest Benefit in Coming Five Years
The growth is characterized by growing healthcare industry, growing geriatric population, increasing prevalence of arthritis, and increasing number of sports injuries. In addition, technological advancements in the healthcare industry has led to development of innovative therapies in the regions and is likely to stimulate the growth of cold compression therapy market in North America.
The road accidents are the major driving cause of death by injury and the tenth-leading cause of all deaths across the world. Many of the people are injured in the road accidents occupy 30% - 70% of the orthopedic beds in the hospitals of countries across the world. According to the national safety council, in 2018, estimated 40,000 people lost their lives due to car crashes and approximately 4.5 million people were seriously injured due to crashes. The council also stated that 40,000 deaths due to car crashes in 2018 is 14% higher than 2014. The road accidents injuries causes the deformities, amputations of limbs, fractures of bone and sever pain in the different parts of the body. Therefore to support the injured and damaged parts, cold compression therapy is used. The demand for cold compression therapy have increased in the developed as well as developing countries.
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Mexico is expected to witness growth during the forecast owing to the factors such as rise in the medical tourism and the facilities available at cheaper cost is likely to enhance the growth of cold compression therapy market during the forecast period.
In addition, during the year 2016 to 2019, various companies have made organic and inorganic growth strategies in the market there are operating. Some of the activities undertaken by the company, which have promoted its growth are, product launches, acquisition and partnership. The organic development strategy has been implemented widely that have helped the growth of the companies and in turn have brought about various changes in the market. For instance, in March 2019, Performance health recently has expanded its product portfolio with the launch of the Biofreeze Pain Relief Patch. Biofreeze patches are wrapped for convenient grab-and-go and are made of flexible fabric for superior performance and comfort.
Global Cold Compression Therapy Market – By Product Type
• Cold Compression Pumps
• Cold Packs
Global Cold Compression Therapy Market – By Injury Type
• Foot and Ankle
Global Cold Compression Therapy Market – By End User
• Specialty Clinics
• Homecare Settings
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The reports cover key developments in the cold compression therapy market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from cold compression therapy market are anticipated to lucrative growth opportunities in the future with the rising demand for cold compression therapy in the global market. Below mentioned is the list of few companies engaged in the cold compression therapy market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global cold compression therapy market based on various segments. It also provides market size and forecast estimates from year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The cold compression therapy market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting cold compression therapy market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the cold compression therapy market in these regions.
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