Cold therapy products are considered to be the most common type of non-addictive and non-invasive pain relief products for muscle and joint injuries. In addition, injuries cause swelling and inflammation. Cold therapy products decreases the blood flow to the injury by minimalizing the swelling and inflammation. There are a lot of reactions that take place when cold therapy products are applied like, reduction of inflammation, decrease in blood circulation, muscle spasm, and pain. Cold therapy products are available in two forms, gel and ice. These products are usually advised for use upto 24 to 48 hours post injury. Cold therapy products are also immensely used for bumps, sprains, bruises, and strains that occur during physical training sessions or any sport. As per the the Canadian Physiotherapy Association, cold therapy products are considered to be extremely useful for pain management caused by injuries, however, are not advised for patients who are undergoing treatments for absence of skin sensitivity, ischemia or impaired circulation, infected or open wound, vasospasm (Raynaud’s disease), acute dermatitis or eczema, and hypersensitivity to cold.
The global market for cold therapy products is anticipated to be fueled by the increasing demand for non-invasive pain management solutions. Rising public and personal healthcare spending, steady economic growth, improved access to healthcare services, and increasing geriatric population are some of the major factors that are expected to drive market growth for cold therapy products throughout the forecast period. Furthermore, increased awareness and ease of use for cold therapy products, and supplementary use of the products for guidance in the surgery of an injury among patients are also expected to propel market growth for cold therapy products during the forecast period. On the contrary, increased adoption of reusable and herbal packs could obstruct market growth for cold therapy products during the forecast period.
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On the basis of Product Type, Cold Therapy Products Market can be segmented as:
- Gel Packs
- Instant Packs
- Therapy Pads
- Bottle Systems
On the basis of Application, Cold Therapy Products Market can be segmented as:
- Trauma Injury
- Pain Management
On the basis of Distribution Channel, Cold Therapy Products Market can be segmented as:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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Growing urbanization and high rates of trauma and accident leading to injuries projected to create immense market opportunities for cold therapy products market. Instant cold therapy products have gained popularity over the years owing it to its easy application. Online pharmacies and hospital pharmacies by the distribution channel segment are anticipated to hold a significant revenue share in the global market cold therapy products during the forecast period. Increasing inclination toward home care products and growing online marketing of cold therapy products is estimated to drive market growth for cold therapy products. Manufacturers in the cold therapy products industry are highly concentrating on technological advancements such as cold wrap fused with back support belts or with knee braces, etc.
Geographically, global cold therapy products market is segmented into regions viz. North America, Latin America, South Asia, Oceania, East Asia, Europe, and the MEA. North America’s market for cold therapy products is expected to hold a prominent share owing it to the large pool of patients with musculoskeletal disorders in the region. As per the statistics provide by the Centers for Disease Control and Prevention (CDC), in the United States, approximately 53 million are currently affected by arthritis. Cold therapy products are highly in demand for arthritis pain management. In addition, launch of technologically advanced cold therapy products by key players coupled with growing online sales is expected to drive the cold therapy products market for Europe. Developing nations like Asia-Pacific are projected to witness a robust market growth during the forecast period for cold therapy products. Rise in awareness about the non-invasive pain management methods and increasing disposable income in countries like India, China, and Australia are expected to fuel cold therapy products demand in the Asia-Pacific region.
Some of the market participants in the Global Cold Therapy Products market identified across the value chain include: Breg Inc., Cardinal Health Inc., 3M, Medtronics Plc, Bruder Healthcare Company, Inc., Caldera International, Inc., Chattanooga Group, Inc., Modular Thermal Technologies, Inc., Carex Health Brands, Pfizer Inc., Medline Industries, Inc, Mentholatum Company, Halyards Health Inc., and Kobayashi Pharmaceutical Co. Ltd.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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