Global Cold Pain Therapy market trends 2024, Forecast To 2033
1 Mar, 2024
The cold pain therapy market has demonstrated robust growth in recent years, escalating from $1.66 billion in 2023 to$1.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period is attributed to the rise in sports-related injuries, the management of chronic pain, post-surgery recovery applications, orthopedic uses, and fitness and rehabilitation purposes. Looking forward, the cold pain therapy market is expected to witness strong growth, projected to reach $2.36 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The forecasted growth is driven by professional endorsements of cold pain therapy solutions, innovative marketing strategies aimed at increasing consumer awareness, the adoption of digital health technologies facilitating remote therapy monitoring, supportive regulatory environments fostering product innovations, the growing demand from the geriatric population, and the increasing incidence of orthopedic conditions requiring pain management solutions. Major trends in the forecast period encompass the increased focus on sports and fitness, the shift towards non-pharmacological pain management methods, and the preference for at-home treatment solutions.
Global Cold Pain Therapy Market Key Driver
The increasing significance of gym activities is making a substantial contribution to the expansion of the cold pain therapy market. Gym activities have become more prevalent due to their benefits in improving brain health, managing weight, lowering disease risks, and enhancing overall physical capabilities. Cold pain therapy products address the pain arising from musculoskeletal injuries commonly encountered during gym activities. For instance, a report by the Australia Bureau of Statistics revealed that 73.4% of adults aged 18 to 64 in Australia engaged in 150 minutes or more of physical activity regularly in March 2022, increasing the likelihood of muscle and tendon injuries. Therefore, the growing importance of gym activities is set to drive the cold pain therapy market.
Get A Free Sample Of The Global Cold Pain Therapy Market ReportGlobal Cold Pain Therapy Market Segments
The global cold pain therapy market covered in this report is segmented –
1) By Product: OTC Products, Prescription Products
2) By Distribution Channel: Retail Pharmacies, Hospital Pharmacies, E- Pharmacies
3) By Application: Musculoskeletal Disorders, Post-operative Therapy, Sports Injuries, Post-trauma Therapy
By Geography: The regions covered in the cold pain therapy market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the cold pain therapy market share in 2023. The regions covered in the cold pain therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Cold Pain Therapy Industry Players
Unexo Lifesciences Pvt. Ltd., Össur Corporate, Hisamitsu Pharmaceutical Co. Inc., Johnson & Johnson, Pfizer Inc., Sanofi S.A., Rohto Pharmaceutical Co. Ltd., 3M Company, Cardinal Health Inc., Compass Health Brands, Breg Inc., Medline Industries LP, Performance Health Supply Inc., Romsons Group of Industries, Beiersdorf AG, DJO Global Inc., Gilead Sciences Inc., Astellas Pharma Inc., AstraZeneca PLC, Novo Nordisk A/S, Polar Products Inc., The Bristol-Myers Squibb Company, Mueller Sports Medicine Inc., Eli Lilly and Company, Bruder Healthcare Company LLC, ThermoTek Inc., Boehringer Ingelheim International GmbH, GlaxoSmithKline PLC, Medtronic PLC, Performance Health LLC
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Cold Pain Therapy Market Overview
Cold pain therapy refers to a therapy used to reduce inflammation and swelling effectively. The primary purpose is to treat injuries that cause pain by lowering the temperature at the surface of the area affected by the pain. It helps to slow the rate of tissue damage around a joint or tendon.
Cold Pain Therapy Global Market Report 2023 provides data on the global cold pain therapy market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cold pain therapy market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.