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.
Competitive Landscape
Recent developments in the sector by the companies mentioned are:
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
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.
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Regional Assessment
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
Industrial Analogy
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
COVID-19 Impact
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report