Cold Pain Therapy Market- Demand, Growth, Opportunities and Analysis of Top Key Player Forecast To 2023

2019 Research Report on Global Cold Pain Therapy Market is a professional and comprehensive report on the Cold Pain Therapy industry.

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Key Players: Sanofi (France), DJO Finance (US), Pfizer (US), 3M (US), Hisamitsu Pharmaceutical (Japan), Johnson & Johnson (US), Medline Industries (US), Össur (Iceland), Performance Health (US), Beiersdorf (Germany), Rohto Pharmaceutical (US), Breg (US), Romsons Group of Industries (India), Custom Ice (US), and Unexo Life Sciences (India).

“The cold pain therapy market is projected to grow at a CAGR of 4.6%.”

The global cold pain therapy market is projected to reach USD 2.12 billion by 2023 from USD 1.69 billion in 2018, at a CAGR of 4.6%. The increasing incidence of sports injuries and rising emphasis on exercise and gym activities, growing number of hip and knee surgeries across the globe and growing need for safer pain management modalities as opposed to oral drug therapy are expected to drive the demand for cold pain therapy products during the study period. On the other hand, lack of reimbursement and high usage of low-priced analgesic pills for immediate pain relief across the globe may limit market growth during the forecast period.

“The OTC products was the largest segment on the basis of products in 2017”

The OTC products segment accounted for the larger share of the global cold pain therapy market in 2017. This can be attributed to factors such as high patient preference for topical pharmaceuticals compared to oral medications owing to its lower side effects, fast pain relief, and convenience in use.

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“The musculoskeletal disorders are the fastest growing segment of the cold pain therapy market during the forecast period.”

The market is segmented into musculoskeletal disorders, post-operative therapy, sports medicine, and post-trauma therapy on the basis of application. In 2017, the musculoskeletal disorders segment is growing at the highest CAGR during the forecast period. The increasing incidence of arthritis, osteoarthritis, back pain, and joint pain; rising geriatric population; increasing trend of self care; and the growing preference for topical analgesics to manage musculoskeletal pain are some of the major factors driving the growth of this market segment.

“Asia Pacific is expected to register the highest growth rate in the cold pain therapy market”

Geographically, the cold pain therapy market is segmented into North America, Europe, Asia Pacific, and the RoW. APAC is projected to be the fastest-growing regional segment in the cold pain therapy market. The rising geriatric population, increasing incidence of arthritis, strong presence of major players in the cold pain therapy market with established product portfolios, increasing healthcare expenditure, and growing preference for topical analgesics, especially patches to manage pain are the factors expected to drive the growth of the market in the APAC region.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the market.

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In the end, the Global Cold Pain Therapy Market report’s conclusion part notes the estimation of the industry veterans.

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