Cold Pain Therapy Market: Global Industry Analysis and Forecast (2022-2029)

The Cold Pain Therapy Market is anticipated to reach US$ 2.70 Bn. by 2029 from US$ 1.8 Bn. in 2021 at a CAGR of 5.2 % during a forecast period.

The use of cold to relieve pain caused by injuries or other causes is known as cold pain therapy. Pharmaceuticals, medical devices, and over-the-counter medications are among the products available. Fresh injuries, such as ligament sprains, muscle sprains, and severe bruises, are treated with cold pain therapy. Tennis elbow, supraspinatus tendinitis, iliotibial band syndrome, patellofemoral pain syndrome, and other chronic overuse or tissue fatigue injuries are treated with this therapy. The cold pain therapy market is divided into the product (over-the-counter (OTC) (creams, gels, patches, and other) and prescription (pharmaceuticals and medical devices) segments, as well as application (sports medicine, post-operative therapies, trauma and orthopaedic, and other applications) (North America, Europe, Asia Pacific, Middle-East and Africa, and South America).

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Cold Pain Therapy Market Dynamics:
The use of gelid components in pain relief is covered under the Global Cold Pain Therapy Market. It slows blood flow to the area, reducing pain and swelling while also reducing muscular spasm, inflammation, and cold discomfort. Sprains, strains, bruising, tendinitis, and edoema caused by damage to surface tissues can be relieved using ice packs, which are effective, affordable, and drug-free. The world's aging population is one of the primary drivers of the global cold pain treatment market's growth. Increased adoption of analgesic patches and self-care preferences are expected to contribute to the growth of the global cold pain treatment market.

Cold pain treatment is becoming more popular as obesity, knee pain, and arthritis become more prevalent among the elderly. In sports injuries, there is a high risk of musculoskeletal diseases. Sprains, joint injuries, dislocations, and other common ailments are simply treated with conventional pain treatments. As a result, it is becoming more popular among the general public and fuelling growth. Cold pain treatment items such as gels, patches, cold packs, roll-ons, and sprays are expected to grow in popularity. The availability of such items in small-scale stores encourages producers to increase output.

Increased injury cases due to sports activities and raising awareness about healthy and fit lifestyles, combined with an increase in the geriatric population, are driving the global cold pain therapy market. Other major factors driving the growth of the Cold Pain Therapy Market include an increasing number of traumatic injuries caused by falls, mishaps, and road accidents. Besides, due to the superior advantages offered by topical analgesics over oral drugs, such as less systemic absorption, reduced side effects, and minimized risk of toxicity, the Cold Pain Therapy Market is expected to grow during the forecast period.

However, the cold pain therapy market is limited by a lack of reimbursement, clinical evidence for the medication, side effects, a lack of financial assistance, and the discomfort associated with the treatment.
Cold Pain Therapy Market Segmentation Analysis
By Product, during the forecast period, OTC goods are expected to increase at the fastest rate. Patient's preference for topical drugs over oral prescriptions, which have fewer side effects, provide faster pain relief, and are more convenient, is expected to boost the OTC goods segment's growth during the forecast period.

Because of the high prevalence of chronic musculoskeletal disorders, the prescribed product segment held a significant share in 2021. According to data from Arthritis Research UK, 17.8 million people in the United Kingdom suffered from musculoskeletal disorders in 2020. Both motorized and non-motorized devices can help reduce swelling, manage pain, and speed up the healing process after an injury or surgery.

By Application, the musculoskeletal disorders segment is the prominent application segment that accounted for the largest market share in the global market. The growth of the segment is due to an increasing geriatric patient pool suffering from chronic ailments such as osteoporosis and arthritis, as well as soaring demand to alleviate pain, swelling, and speed up recovery post-surgical procedures,

Because of the increased number of sports-related injuries, the sports medicine segment is expected to grow at a high rate throughout the forecast period. 62 percent of organized sports-related injuries occur during practices, according to the Southwest Athletic Trainers Association. Additionally, major players are progressively producing a variety of goods expressly for persons who have had sports-related injuries. Also, due to the rising prevalence of severe injuries, post-trauma accounted for the highest share of the market in 2020. The growth of this market is being fuelled by an increase in the number of traffic accidents.
Cold Pain Therapy Market Regional Insight
Because of factors such as increased awareness and availability of advanced product technologies, such as non-motorized and motorized cold pain therapy devices, North America holds a significant share. Besides this, the market is expected to grow due to the aging population and the availability of a large pool of patients with back pain and other injuries over the forecast period. According to a fact sheet published by the Population Reference Bureau, the number of Americans aged 65 and up is expected to nearly double from 52 million in 2020 to 95 million by 2050. The proportion of people aged 65 and up in the total population may rise from 16 percent to 23 percent. In the United States, an increase in the elderly and obese population is expected to lead to an increase in the prevalence of osteoporosis. Similarly, growth in North America is expected to be fuelled by the existence of important companies with extensive distribution networks.

Due to increased knowledge and improved healthcare infrastructure in medium and low-income countries, Europe, followed by the Asia Pacific, is expected to grow at considerable rates. Despite having over 60% of the world's automobiles, poor and middle-income countries account for 93 percent of global mortality due to road accidents, according to the World Health Organization (WHO). As a result, the Asia Pacific market is growing due to an increase in the number of traffic accidents and the growing use of over-the-counter (OTC) products. Osteoarthritis and associated orthopaedic issues are aging-related disorders that mostly affect adults over the age of 60. As a result, Asia Pacific's growth is being driven by an older population and increased demand for pain management solutions.
Report Objectives:
• Landscape analysis of the Cold Pain Therapy Market

• competitive benchmarking

• Past and current status of the industry with the forecasted market size and trends

• Evaluation of potential key players that include market leaders, followers, and new entrants

• Technology trends

• Potential impact of micro-economic factors of the market

• External and Internal factors affecting market have been analysed

The report also helps in understanding the Cold Pain Therapy Market dynamics, structure by analysing the market segments and project the Cold Pain Therapy Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Cold Pain Therapy Market make the report investor’s guide.
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Cold Pain Therapy Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 1.8 Bn.


Forecast Period 2022 to 2029 CAGR:
5.2  %
Market Size in 2029:
US $ 2.70 Bn.


 Segments Covered:
by Product
•  OTC Products
o Pharmaceuticals
• Gels, Ointments, and Creams
• Sprays and Foams
• Patches
• Roll-ons
o Medical Devices
• Cooling Towels, Compresses, Wraps, and Pads
• Cold packs
• Prescription Products
o Motorized Devices
o Non-motorized Devices


by Application
• Musculoskeletal Disorders
• Sports Medicine
• Post-operative Therapy
• Post-trauma Therapy


by Distribution Channel
• Retail Pharmacies
• Hospital Pharmacies
• E- Pharmacies


by Therapy type
• Icepack Therapy
• Chamber Therapy
• Cryosurgery



Cold Pain Therapy Market by Region
• North America
• Asia pacific
• Europe
• Middle East and Africa
• South America
Cold Pain Therapy Market: Key Players
• Hisamitsu Pharmaceutical Co., Inc.
• 3M Company
• Breg Inc.
• Johnson & Johnson
• Ossur hf
• ROHTO Pharmaceutical Co., Ltd.
• Sanofi
• DJO Finance LLC
• Beiersdorf AG
• Medline Industries Inc.
• Custom Ice
• Unexo Life Sciences
• Bruder Healthcare
• Hot and Cold Company
• Polar Products Inc.
• FrozenPeaz Inc.
• Medichill UK
• Romsons
• MeyerDC
• Hisamitsu Pharmaceutical Co.
• Rgis, Llc.
• Rapid Aid
• Performance Health
• Medtronic
Frequently Asked Questions
1. What is the projected market size & growth rate of Cold Pain Therapy Market?
Ans- Cold Pain Therapy Market was valued at USD 1.8 billion in 2021 and is projected to reach USD 2.70 billion by 2029, growing at a CAGR of 5.2 % during the forecast period.

2. What are the key driving factors for the growth of Cold Pain Therapy Market?
Ans- Increased adoption of analgesic patches and self-care preferences are expected to contribute to the growth of the global cold pain treatment market.

3. Which Region accounted for the largest Cold Pain Therapy Market share?
Ans- Because of factors such as increased awareness and availability of advanced product technologies, such as non-motorized and motorized cold pain therapy devices, North America holds a significant share.

4. What makes North America a Lucrative Market for Cold Pain Therapy Market?
Ans- the market is expected to grow due to the aging population and the availability of a large pool of patients with back pain and other injuries over the forecast period.

5. What are the top players operating in Cold Pain Therapy Market?
Ans- Hisamitsu Pharmaceutical Co., Inc., 3M Company, Breg Inc., Johnson & Johnson, Ossur hf, ROHTO Pharmaceutical Co., Ltd., and Sanofi