Polaris Market Research recently published [115+ Pages] research report on “Cold Pain Therapy Market Share, Size, Trends, Industry Analysis Report, By Product (OTC Products and Prescription Products); By Application; By Distribution Channel; By Region; Segment Forecast, 2022 – 2030” in its research database.
According to [110+] pages research report, the global cold pain therapy market size was valued at USD 1.73 billion in 2021 and is expected to reach USD 2.67 Billion by 2030, growing at a CAGR of 5.05% during the forecast period.
What is Cold Pain Therapy? How Big is the Cold Pain Therapy Market?
When a bag of frozen peas is pressed on a swollen ankle or a knee, the treatment is the modern version of cryotherapy. Cold therapy can be applied in ways such as coolant sprays, ice packs, whirlpools, ice massages, or ice baths. The rapidly rising demand for cold pain therapy market can be attributed to increasing cases of runner’s knees, tendonitis, sprains, arthritis pain, swelling after hip or knee replacement, pain under a cast or a splint, and lower back pain.
The growing pervasiveness of orthopedic illnesses and an increasing number of sports injuries have led to high growth in the market. The American Academy of Orthopaedic Surgeons approximated that 90% of patients incurring rheumatoid arthritis are inclined to advance some kind of symptoms in their foot and ankle. Further, as per Stanford Children’s Health, almost one-third of all injuries provoked by children are sports-related injuries. These preceding factors are boosting the demand for cold pain therapy.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
What Does the Report Include?
- The report presents the analytical depiction of the market along with current trends and future estimations to decide the investments
- The report presents information related to key drivers, restraints, and opportunities, along with a detailed analysis of the market share
- Porter’s five forces analysis demonstrates the potency of buyers and suppliers in the market
- The report offers a detailed analysis based on competitive intensity and how the competition will take place shortly
Some of the Top Players in the Market Are:
- Hisamitsu Pharmaceutical
- Johnson & Johnson
- DeRoyal Industries
- Romsons Group
- DJO Finance
- Medline Industries
- Polar Products
- Hot and Cold Company
- 3M Company
- ROHTO Pharmaceutical
- Bruder Healthcare
- Medichill UK
- Rapid Aid
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Growth Driving Factors
- Growing geriatric population to push the market
Cold pain therapy market size is expanding as the geriatric population is growing. This category of people is highly vulnerable to arthritis and joint disorders, which is anticipated to escalate the demand for cold therapy products. Additionally, a growing number of traumatic injuries deriving from mishaps falls, and road accidents is another prominent factor accelerating the growth of the market.
Cold pain therapy market sales are soaring due to it setting in motion the body’s natural anti-inflammatory response and endorphins, causing lessened swelling and inflammation, and pain. It also helps in lessening nerve activity which reduces pain. Ice packs and wraps are generally used for patients with arthritis, muscle sprains, and back pain. It is predominantly helpful for tendons and joints.
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In April 2021, Battle Creek launched cold therapy wraps to enhance and treat inflammation and chronic pain. The products are obtainable in four sizes alternating from 12X8 inches to 23X14 inches and are accompanied by an exclusive gel technology that stays flexible and offers flexibility and fruitful cold therapy.
- OTC products segment held the largest market revenue share
Based on product, the OTC products segment held the largest market revenue share. Convenient and obtainability in both online and offline stores, together with the high and cost-effectiveness of gels, creams, and several kinds of sprays, are the prominent factors driving the growth of this segment. Cold pain therapy market demand is rising due to the initiation of a wide range of OTC products, including sprays, gels, wraps, and rolls by several key market companies with attractive packaging and publicity.
- The orthopedic condition segment witnessed the fastest growth over the forecast period
Based on application, the orthopedic condition segment accounted for the largest market share. Cold pain therapy market trends include growing prevalence and cases related to orthopedic illnesses, arthritis, osteoarthritis, musculoskeletal disorders, and joint disorders. As per the World Health Organization (WHO), it is expected that approximately 130 million people globally are expected to have osteoarthritis by 2050. As it is the most common kind of arthritis found in people globally, therefore, the number of patients suffering from these illnesses is likely to influence the segment growth in coming years.
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Cold Pain Therapy Market: Report Scope & Analysis
|Market Outlook for 2030||USD 2.67 Billion|
|Market Size 2022 Value||USD 1.80 Billion|
|Expected CAGR Growth||5.05% from 2022 – 2030|
|Forecast Year||2022 – 2030|
|Top Market Players||Beiersdorf, Hisamitsu Pharmaceutical Co. Inc., Johnson & Johnson, DeRoyal Industries Inc., Romsons Group of Industries, DJO Finance LLC, Medline Industries Inc., Polar Products Inc., Hot and Cold Company, Medtronic, 3M Company, ROHTO Pharmaceutical Co. Ltd., Bruder Healthcare, Medichill UK, Rapid Aid, and Sanofi|
|Segments Covered||By Product, By Application, By Distribution Channel, By Region|
|Customization Options||Customized purchase options are available to meet your research needs. Explore customized purchase options|
- The rising number of several orthopedic diseases boosts the North American market
North America held the largest cold pain therapy market share due to the rising number of several orthopedic diseases and the high adoption of advanced technology devices in the region. Additionally, the high aging population and extensive obtainability of patients with back pain and another kind of injuries are also projected to boost the demand for cold pain therapy in the coming years.
Furthermore, the Asia Pacific region is expected to grow at a significant growth rate during the forecast period. The cold pain therapy market forecast states that the growing consciousness regarding healthcare and increasing technological progressions in various emerging nations such as China, India, and Indonesia are critical factors to drive the growth and demand of the market in the coming years.
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Frequently Asked Questions
- Who are the leading market players active in the market?
- What prevalent trends will impact the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
- What segments and regions will drive the market growth and why?
Cold Pain Therapy Market Report Highlights
- The OTC products segment held the largest revenue share in 2021 owing to the easy accessibility of these products in both online and offline stores and the high affordability of several relief products.
- Orthopedic conditions accounted for a major global revenue share, mainly attributed to the rising prevalence of orthopedic diseases such as arthritis, joint disorders, and musculoskeletal disorders across the globe.
- The retail pharmacy sector held a substantial revenue share in 2021 due to the growing number of retail stores and the wide availability of topical products in retail pharmacies in developed and developing nations.
- Asia Pacific is expected to grow significantly during the forecast period because of the increasing investment in the development of healthcare infrastructure and growing technological advancements in many developing countries, including India and China.
Polaris Market Research has segmented the cold pain therapy market report based on product, application, distribution channel, and region:
By Product Outlook
- OTC Products
- Prescription Products
By Application Outlook
- Orthopedic Conditions
- Post-operative Therapy
- Sports Medicine
- Post-trauma Therapy
By Distribution Channel Outlook
- Hospital Pharmacy
- Retail Pharmacy
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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