Cold Pain Therapy Market to grow at 5.9% CAGR during the projection period

New York, 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.

The global cold pain therapy market from Global Insight Services is the single authoritative source of intelligence on Cold Pain Therapy Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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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.

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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.

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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.

Global Cold Pain Therapy Market by Distribution Channel

Based on the distribution channel, it is segmented into hospital pharmacies, retail pharmacies, and e-pharmacies. The retail pharmacies segment is likely to dominate the market during the forecast period. The easy availability of all the essential cold pain therapy products in retail pharmacies is boosting the growth of this market during the forecast period.

Geographical Analysis of Global Cold Pain Therapy Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is likely to dominate the market during the forecast period. The growing use of sports medicine is likely to dominate the market during the forecast period.

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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