Cold Pain Therapy Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Runner's Knee, Tendonitis, Sprains/Sports Sprain, Arthritis Pain, Pain and Swelling After Hip or Knee Replacement, Pain or Swelling Under Cast or Splint, Surge

Rising Number of Orthopedic Surgeries due to Increasing Cases of Sports Injuries to Drive Global Cold Pain Therapy Market During 2022-2028

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According to our latest study on ""Cold Pain Therapy Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Application, Offering, and End User,"" the market was valued at US$ 2,189.94 million in 2021 and is projected to reach US$ 3,143.88 million by 2028; it is estimated to grow at a CAGR of 5.3% from 2022 to 2028. The market growth is primarily attributed to an increase in cases of sports injuries, a surge in the number of orthopedic surgeries, and an increase in the geriatric & obese population. However, lack of awareness, unfavorable reimbursement scenarios, and side effects of cold pain therapy hinder the market growth.

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Cold therapy, also known as cryotherapy, reduces blood flow to a particular area, significantly reducing inflammation and swelling that causes pain, especially around a joint or a tendon. It can temporarily reduce nerve activity, which can also relieve pain.

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A large population is opting for an active lifestyle, which has increased physical activities such as gymming and sports. This has led to a surge in the cases of sports-related injuries such as rotator cuff injuries, ligament tears, tendon rupture, sprains & strains, and swollen muscles. According to the Hopkins Medicine report, ~3.5 million cases of sports injuries are reported in the US annually. As per Hospital for Special Surgery, rotator cuff injuries are highly common and affect 2-4 million people in the country every year. Rotator cuff conditions develop over time among athletes that can cause trauma.

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Further, the increasing geriatric population is highly prone to various orthopedic conditions such as joint disorders, joint replacement, osteoarthritis, and rheumatoid arthritis. According to the Center Orthopedic & Neurosurgical Care & Research, by 2030, total knee replacement surgeries are projected to grow by 673% to reach 3.5 million procedures per year. As a result, the increasing number of orthopedic surgeries creates the demand for cold pain therapy in pain management as postoperative care. Additionally, the rising prevalence of musculoskeletal disorders is expected to increase the need for cold pain therapy to treat various musculoskeletal disorders including trauma, back pain, tendinitis, sarcopenia, osteopenia, and low back injuries. According to World Health Organization (WHO), the musculoskeletal disease affects ~1.71 billion people globally, and low back pain is the leading cause of disability in 160 countries. Moreover, an increase in road accidents and trauma cases is contributing to a major share of orthopedic surgeries. As per the US Department of Transportation, more than 6 million car accidents occur every year in the US. In Florida, more than 350,000 drivers are involved in road accidents, which accounts for 200,000 injuries every year, including spine injuries and knee injuries.

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Cold pain therapies are essentially opted by consumers after surgical processes as one of the pain management methods.Thus, the surge in the number of orthopedic surgeries owing to a rise in sports injury cases and a large geriatric population and a high number of trauma cases are driving the cold pain therapy market growth.

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Brownmed Inc., Bruder Healthcare Co Llc., DJO Global Inc, Ossur Hf, Cardinal Health Inc, Vive Health Llc, Battle Creek Equipment Co, Thermotek Inc., Advanced Therapeutics of Li Llc, and Sichuan Jiuyuan Medical Technology Co Ltd. are among the leading companies operating in the cold pain therapy market.

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Cold Pain Therapy Market, by Region, 2021 (%)

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Source: The Insight Partners Analysis

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Based on application, the cold pain therapy market is segmented into runner's knee, tendonitis, sprains/sports sprain, arthritis pain, pain and swelling after a hip or knee replacement, pain or swelling under a cast or a splint, surgery recovery, lower back pain, and others. Based on offering, the market is segmented into over-the-counter, prescription products, rehabilitation exercises, ice wrap and cold packs, pads, compression therapy, ice buckets without compression, and others. Based on end user, the market is segmented into hospitals, clinics, rehabilitation centers, ambulatory surgical centers, individuals, and others. By geography, the cold pain therapy market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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