PUBLISHER: DataM Intelligence | PRODUCT CODE: 1643923
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1643923
The global Cold Pain Therapy market reached US$ 22.3 billion in 2024 and is expected to reach US$ 34.58 billion by 2032, growing at a CAGR of 5.6% during the forecast period 2024-2032.
Cold therapy helps in treating several chronic problems, including fibromyalgia and back pain. It can assist in managing pain symptoms and offer momentary relief. Cold therapy is usually used in the acute stage of a soft tissue injury. It involves the use of ice or a cryocuff to cool down a damaged area of soft tissue following an injury.
Market Dynamics: Drivers & Restraints
The Increasing Incidence of Sports Injuries
The increasing number of sports injuries is expected to increase the demand for cold pain therapy market. As the frequency of sports injuries rises, the demand for pain management treatments increases. Cold treatment is a well-established, effective method for reducing inflammation, swelling, and discomfort caused by sprains, strains, and muscular stiffness, which are all frequent sports injuries. This treatment is frequently used by athletes to speed up their recovery and allow them to return to training or competition earlier. This creates a demand for easily available cold therapy products. Professional athletes' increasing use of cold therapy promotes awareness and inspires beginners to follow similarly.
Cold treatment can also be utilized to aid with post-workout muscle rehabilitation and avoid long-term injury. There is an increasing number of injuries which are increasing the demand for cold pain therapy. For instance, according to the report published by the Australian Institute of Health and Welfare in 2021-22, around 18,700 injury hospitalisations among children and adolescents that involved sport, exercise or recreational activities (21%). Over 1 in 3 injury hospitalisations for children aged 10-12 and 13-15 involved sports
Lack of awareness
Lack of awareness of cold pain therapy is a major impediment to market growth. Many people are unaware of cold therapy as a legitimate pain management option, so they rely on standard treatments such as over-the-counter pain relievers or simply ignore the pain. This limits market penetration and keeps individuals from receiving the potential benefits of cold treatment.
The global cold pain therapy market is segmented based on product, application, distribution channel, and region.
Over-the-counter products segment is expected to dominate the global cold pain therapy market share
Over-the-counter products are widely available in pharmacies, supermarket stores, and online sellers. Because of their ease of access, they are the preferred choice for persons who are experiencing minimal pain.
Consumers can acquire OTC products without a doctor's visit or prescription, saving them time and effort. OTC drugs enable the self-treatment of minor pain, empowering people to manage their discomfort without having to rely on healthcare specialists every time. A large number of patches, cooling gels are being getting traction due to the increasing number of sports injuries and the due to the increased costs of prescribed therapies.
North America is expected to hold a significant position in the global cold pain therapy market share
North America is expected to hold a dominant position in the market share this is due to the region holding a significant number of leading POCT device manufacturers and diagnostics companies.
North America has a well-developed healthcare infrastructure and comprehensive insurance coverage. This increases access to advanced pain management choices, such as cold therapy treatments. Furthermore, coverage for cold therapy-based rehabilitation therapies has the potential to increase demand for cold therapy devices.
The region's culture values physical activity and engagement in sports. This increases the occurrence of sports injuries such as sprains, strains, and muscle soreness, resulting in a strong demand for cold treatment products for pain relief and recovery. The companies are increasingly entering into strategic collaborations and partnerships that increases the market growth in the region. For instance, in March 2023, Aspen Medical Products (Aspen)and NICE Recovery Systems (NICE) announced a strategic partnership that aims to bring more precise recovery and pain management solutions to patients and medical professionals alike. The partnership leverages NICE's advanced cold compression technology with Aspen's effective bracing solutions to deliver pain management and post-operative care to patients recovering from surgery or injury.
The major global players in the cold pain therapy market include Breg, Inc., Brownmed, Inc., Cardinal Health, Enovis Corporation, Ossur hf., Performance Health Supply, Inc., Medline Industries, LP, Compass Health Brands Corp, Romsons Scientific & Surgical Pvt. Ltd and Bird & Cronin, LLC. among others.
The Global Cold Pain Therapy Market report delivers a detailed analysis with 60+ key tables, more than 50 visually impactful figures, and 176 pages of expert insights, providing a complete view of the market landscape.
Key Market Players
Emerging Market Players
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