Cold Pain Therapy Market -Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
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.
Recent developments in the sector by the companies mentioned are:
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.
Based on Application
Based on Region
OTC products such as gels, patches, creams, etc. are projected to be high in demand during the forecast period 2021-2031.
North America is presently the largest growing market for cold pain therapy and is expected to be leading in the near future.
Use of pain killers and Discomfort during cold pain therapy continue to be deterrents
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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