Cold Pain Therapy Global Market Report 2024 - By Growth, Size, Share, Industry Trends, Forecast To 2033

The cold pain therapy market size has grown strongly in recent years. It will grow from $1.66 billion in 2023 to $1.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to rise in sports injuries, chronic pain management, post-surgery recovery, orthopedic applications, fitness and rehabilitation.

The cold pain therapy market size is expected to see strong growth in the next few years. It will grow to $2.36 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to professional endorsements, innovative marketing strategies, digital health adoption, supportive regulatory environment, geriatric population demand, rise in orthopedic conditions. Major trends in the forecast period include increased sports and fitness focus, shift towards non-pharmacological methods, at-home treatment preference.

Market Overview -
Cold pain therapy refers to a therapy used to reduce inflammation and swelling effectively. The primary purpose is to treat injuries that cause pain by lowering the temperature at the surface of the area affected by the pain. It helps to slow the rate of tissue damage around a joint or tendon.

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The Symbiotic Rise Gym Activities Fueling The Surge In Cold Pain Therapy Market
The increased importance of gym activities is significantly contributing to the growth of the cold pain therapy market. Gym activities are increasing due to the need to improve brain health, help manage weight, lower the risk of disease, strengthen bones and muscles, and improve the ability to do everyday tasks. Cold pain therapy products alleviate pain caused by musculoskeletal injuries that occur in gym activities. For instance, in March 2022, according to a report by the Australia Bureau of Statistics, an agency of the Australian Government responsible for statistical collection and analysis, 73.4% of adults aged between 18 and 64 in Australia undertook 150 minutes or more of physical activity regularly, thereby increasing the potential for muscle and tendon injuries. Therefore, the increasing importance of gym activities will drive the cold pain therapy market.

Competitive Landscape -
Major companies operating in the cold pain therapy market report are Unexo Lifesciences Pvt. Ltd., Össur Corporate, Hisamitsu Pharmaceutical Co. Inc., Johnson & Johnson, Pfizer Inc., Sanofi S.A., Rohto Pharmaceutical Co. Ltd., 3M Company, Cardinal Health Inc., Compass Health Brands, Breg Inc., Medline Industries LP, Performance Health Supply Inc., Romsons Group of Industries, Beiersdorf AG, DJO Global Inc., Gilead Sciences Inc., Astellas Pharma Inc., AstraZeneca plc, Novo Nordisk A/S, Polar Products Inc., The Bristol-Myers Squibb Company, Mueller Sports Medicine Inc., Eli Lilly and Company, Bruder Healthcare Company LLC, ThermoTek Inc., Boehringer Ingelheim International GmbH, GlaxoSmithKline plc, Medtronic plc, Performance Health LLC

Technological Advancements Paving The Way In The Cold Pain Therapy Market
Technological advancement is the key trend gaining popularity in the cold pain therapy market. Major companies operating in the cold pain therapy market are trying to come up with new technological advancements in their product offerings to gain a competitive edge in the market. For instance, in April 2022, Jenburkt Wellness, an India-based company operating in cold pain therapy unveiled Zixa Strong, an innovative fast-acting pain relief range. This involves innovative oil-in-water flash micelle technology, a combination of ultra-rapid mixing techniques, and a uniquely powerful approach to modify the structure with oil-based formulations that improve therapeutic efficacy.

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Key Segments -
The cold pain therapy market covered in this report is segmented -
1) By Product: OTC Products, Prescription Products
2) By Distribution Channel: Retail Pharmacies, Hospital Pharmacies, E- Pharmacies
3) By Application: Musculoskeletal Disorders, Post-operative Therapy, Sports Injuries, Post-trauma Therapy

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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