Cold pain therapy includes the products used to reduce the pain or inflammation caused by some physical activities such as injury cause during playing or sports activity and sprain in muscle or ligament during gym. Cold therapy includes use of ice or gel packs that are kept in the freezer till needed. This therapy is largely preferred to manage the pain and swelling as it is simple to use, less expensive and gives quick results.
The market of cold pain therapy is expected to grow by increasing the demand for products to reduce the pain without medicines or by reducing the use of medicine consumption. Cold pain therapy is also use for the treatment of tennis elbow, iliotibial band syndrome, plantar fasciitis, carpel tunnel syndrome and patellofemoral pain syndrome and many more. The cold pain therapy market was estimated USD 1.62 billion in 2017 and expected to reach USD 2.12 billion by 2023 at a CAGR of 4.6% during the forecast period. Most of the cold pain therapy are over the counter products available on online pharmacies, retailing or medical shops.
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Some of the key players in the global cold pain therapy market Medline Industries (US), Sanofi (France), Breg (US), DJO Global (US), Pfizer (US), Johnson & Johnson (US), Össur (Iceland), Performance Health (US), Beiersdorf (Germany), Hisamitsu Pharmaceutical (Japan), Rohto Pharmaceutical (US), Romsons Group of Industries (India), and Others.
Global Cold Pain Therapy Market: Segmental Analysis
The global cold pain therapy market has been segmented on the basis of product, therapy, application, and end-users.
By mode of product, the global cold pain therapy market has been segmented into prescription products and over the counter (OTC). Among these, the OTC products are estimated to expand at the highest rate throughout the appraisal period. The rising preferences of the patients for topical pharmaceuticals compared to oral medications due to their fast pain relief, lower side effects, and convenience are predicted to fuel the segment growth in the coming years.
By mode of therapy, the global cold pain therapy market has been segmented into chamber therapy, cryosurgery, and icepack therapy.
By mode of application, the global cold pain therapy market has been segmented into post-operative therapy, musculoskeletal disorders, post-trauma therapy, and sports medicine. Among these, the musculoskeletal disorders segment is considered to occupy the largest market share due to the rising prevalence of arthritis, back pain, osteoarthritis, and joint pain. Moreover, with the rising trend of self-care coupled with the rising preferences for topical analgesics in order to manage musculoskeletal pain are some of the factors likely to foster the segment growth across the globe.
By mode of end-users, the global cold pain therapy market has been segmented into hospitals & clinics and sports person, adults, and others.
Geographically, the cold pain therapy market span across regions namely, Europe, America, Asia-Pacific, and the Middle East and Africa.
Considering the global scenario, the American region is anticipated to lead the global market due to the extensive R&D activities in cold pain therapy. The increasing demand for products to reduce arthritis pain and swelling are contributing to the market growth in this region. As per the Arthritis Foundation, approximately 78 million people are predicted to be diagnosed with arthritis in 2040.
The European region is considered to be the second-largest region in cold pain therapy owing to the rising incidences of non-traumatic joint disorders like chronic infectious arthritis, knee pain, and crystalline synovitis. With the growing number of surgeries, the market is considered to fuel in this region. Moreover, the growing geriatric population coupled with the rising cases of arthritis is highly supporting the market growth.
The Asia Pacific region is considered to be the fastest growing region owing to the rising geriatric population suffering from arthritis. Moreover, the rising injuries occurring during sports activities coupled with the presence of major market players in this region are some of the other major factors likely to influence the market growth. Also, with the augmenting prevalence of rheumatologic disease impacting a large number of population, the market is estimated to flourish.
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TABLE OF CONTENT
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
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