The latest report from Reports and Data reveals that the global Cold Pain Therapy Market, which amounted to USD 1.78 Billion in 2022, is anticipated to exhibit a 5.3% revenue Compound Annual Growth Rate (CAGR) throughout the forecast period. The upsurge in market revenue can be attributed to the growing participation in sports activities and the subsequent rise in sports-related injuries.
Numerous factors are propelling the revenue growth of the global cold pain therapy market, accompanied by the emergence of contemporary trends and developments during the forecasted timeframe. The surge in sports involvement is gradually giving rise to a greater number of injuries. In September 2022, the University of Bath published an article that highlighted a Canadian study examining injury rates among high school students engaged in contact sports. The findings of this study revealed a significant prevalence of injuries among participants, ranging from 12.7 injuries per 100 participants per year in rugby to 33.1 injuries per 100 participants per year in ice hockey.
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In pursuit of reduced complications, swifter recovery times, and minimal downtime, individuals are increasingly opting for non-invasive or drug-free therapeutic solutions for managing pain. Recent advancements in the medical field are leading to the introduction of various non-invasive pain relief treatments. Nevertheless, the presence of cost-effective alternatives, in addition to concerns related to allergies and nerve sensitivity, hinders the revenue growth of the market.
Key players in the Cold Pain Therapy Market:
- Pfizer Inc.
- Cardinal Health
- Breg
- Rohto Pharmaceutical Co., Ltd.
- Johnson & Johnson Services, Inc.
- Hisamitsu Pharmaceutical Co., Inc.
- Össur
- DJO, LLC
- Rapid Aid
- Sanofi
- Others
Some Key Highlights in the Report:
- The Over-the-Counter (OTC) products category is poised to capture a substantial share of revenue during the forecast period. Key drivers include the affordability of these products, their convenient accessibility, minimal side effects, and a continuous stream of innovative advancements expanding the product range.
- The icepack therapy sector is anticipated to experience rapid revenue growth throughout the forecast period. Factors fueling this growth include the increasing participation in sports, leading to a rise in sports-related injuries, as well as a growing prevalence of chronic disorders like arthritis.
- The North American market is expected to dominate in terms of revenue share over the coming years. This growth is attributed to the escalating incidence of sports injuries, a swift adoption of fitness trends, especially among Generation Z and millennials, and the expanding utilization of cryotherapy for treating mental health disorders and managing depression. For instance, research conducted by Johns Hopkins University highlights that approximately 30 million children and adolescents in the United States participate in organized sports, underscoring the considerable market potential and demand.
- On March 1, 2023, HealthMe and Breg, Inc. jointly announced the launch of a direct-payment eCommerce platform. This platform is designed to assist orthopedic providers in collecting patient payments for HealthMe’s range of cold therapy devices. This collaboration underscores the increasing importance of delivering a consumer-oriented digital shopping experience to patients. Moreover, streamlining the process will enhance patient access to cold therapy options, particularly Breg’s Polar Care Wave cold and compression system.
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For the purpose of this report, Reports and Data has segmented the global cold pain therapy market based on product type, therapy type, device type, application, distribution channel, and region:
Product Type Outlook (Revenue, USD Billion; 2019-2032)
- OTC Products
- Pharmaceuticals
- Patches
- Roll-Ons
- Gels, Ointments, and Creams
- Sprays and Foams
- Medical Devices
- Compresses, Wraps, Pads, and Cooling Towels
- Cold Packs
- Prescription Products
- Motorized Devices
- Non-Motorized Devices
- Pharmaceuticals
Therapy Type Outlook (Revenue, USD Billion; 2019-2032)
- Chamber Therapy
- Cryosurgery
- Icepack Therapy
- Others
Device Type Outlook (Revenue, USD Billion; 2019-2032)
- Dipstick Applicator
- Cryoprobe
- Spray Cryogun
- Others
Application Outlook (Revenue, USD Billion; 2019-2032)
- Post-Operative Therapy
- Post-Trauma Therapy
- Orthopedic Conditions
- Post Medicine
Distribution Channel Outlook (Revenue, USD Billion; 2019-2032)
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies
- Others
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Regional Outlook (Revenue, USD Billion; 20219-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2020–2021) and forecast (2022–2032) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2019 and 2030.
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