Cold Pain Therapy Market -Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Cold Pain Therapy Market -Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Report Digest
Global cold pain therapy market is expected to grow with a CAGR around 3-5% during the forecast period 2020-2030. Rising number of sports injuries and orthopaedic diseases has led to significant growth of the market.
Cold therapy or cryotherapy is a homecare treatment used as a pain relief from knee pain, sprains, arthritis pain, lower back pain, calms down the swelling too. Cold therapy reduces the sensitivity to pain. Cold therapy is applied by putting ice covered in some cloth or towel on the injured area for about 10 to 20 minutes. The skin must be checked frequently for sensation to make sure the tissues are not damaged.
Proper pain management includes R.I.C.E. Rest, ice, compression and elevation. It can be applied in various ways such as ice packs, coolant sprays, ice massage, and whirlpools, etc. This is one of the simplest remedy for pain management during sports matches or relief in arthritis or sprains etc.
Increase in geriatric population and rise in sports injuries
With the rising obesity issues, knee pain, arthritis among geriatric population, the cold pain therapy is boosting. High risk is there of musculoskeletal disorders in sports injuries. Other common injuries like sprains, joint injuries, dislocation, etc. are easily treated by col pain therapies. Thus, it is going prevalent among masses and is driving the growth.
Growing OTC products are boosting the growth
Easy availability of cold pain therapy products such as gels, patches, cold packs, roll-ons and sprays are expected to boost the growth. Such products available in small scale shops encourage the manufacturers for more production.
High usage of pain killers
For rapid relief, many people and even sportsmen sometimes use low- priced pain killers causing side effects in the long run. Aspirin, paracetamol, ibuprofen, etc. are available at lower costs, thus, their high adoption may hamper the growth of cold pain therapy. Low awareness regarding adverse effects of such pain killers is also inhibiting the growth.
Competitive Landscape
- Sanofi (France)
- Pfizer (US)
- Ossur (Iceland)
- Breg (US)
- Hisamitsu Pharmaceutical (Japan)
- Johnson & Johnson (US)
- Romsons Group of Industries (India)
- Unexo Life Sciences (India)
- Bird & Cronin (US)
- Beiersdorf (Germany)
Recent developments in the sector by the companies mentioned are:
- Sanofi in December 2020 renewed its partnership with WHO to fight some of the neglected diseases and to eliminate sleeping sickness before 2030. Sanofi shares a fixed amount as a financial support for disease management, campaigns, drug donations, etc. The partnership is already 20 year- old and supports in screening, control and treatment of sleeping sickness, one of the most neglected tropical disease.
- On 21 February 2021, Breg has announced their partnership with Club Warehouse for expanding the delivery of their high high value orthopaedic products in Australia. The company aims to offer its products across the continent including Australian Football League, National Rugby League and Rugby Union Clubs.
- Johnson and Johnson acquired Momenta Pharmaceutical in August 2020 to expand its brand in immune meditated diseases and expand its leadership in pharma market. The acquisition helps Janssen, a pharma company of J&J to reach more patients by pursuing indications among many autoimmune diseases.
Regional Outlook
North America continues to dominate the cold therapy market owing to prevalent orthopaedic diseases, obese population in the region. The adaptation of advanced devices is also the reason for its significant growth. Furthermore, presence of prominent players and government regulations regarding orthopaedic diseases benefits the North American region.
Segmentation
By Product
- OTC Products
- Prescription Products
- Medical Devices
Based on Application
- Sports Medicine
- Post-Operative Therapies
- Trauma and Orthopaedic
Based on Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- Which can be the largest share-holding product during the forecast period?
OTC products such as gels, patches, creams, etc. are projected to be high in demand during the forecast period 2021-2031.
- Which is the most lucrative market for cold pain therapy?
North America is presently the largest growing market for cold pain therapy and is expected to be leading in the near future.
- What are the restraints hampering the growth?
Use of pain killers and Discomfort during cold pain therapy continue to be deterrents
- Which are the leading cold pain therapy companies?
Hisamitsu Pharmaceutical (Japan), Johnson & Johnson (US), Romsons Group of Industries (India), Unexo Life Sciences (India), Bird & Cronin (US) are the leading market players.
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