New York, United States , Nov. 28, 2023 (GLOBE NEWSWIRE) -- The Global Cold Pain Therapy Market Size is to Grow from USD 1.76 Billion in 2022 to USD 2.92 Billion by 2032, at a Compound Annual Growth Rate CAGR of 5.2% during the forecast period.
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Cold pain therapy, also known as cryotherapy, involves the application of cold temperatures to alleviate pain and reduce inflammation. This non-invasive method constricts blood vessels, lowering tissue metabolism and providing relief from discomfort. It's commonly used for managing injuries like sprains, strains, and post-operative pain. Cold packs, ice baths, and cryogenic sprays are common modalities. Cold pain therapy reduces nerve activity, minimizing pain signals and swelling. Though generally safe, caution is needed to prevent frostbite. Its effectiveness lies in its ability to offer localized pain relief with minimal side effects, making it a valuable option in pain management.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Cold Pain Therapy Market Size, Share, and COVID-19 Impact Analysis, By Product (OTC and Prescription), By Application (Musculoskeletal Disorders, Post-operative Therapy, Sports Injuries, and Post-trauma Therapy), By Distribution Channel (Retail Pharmacies, Hospital Pharmacies, and E- Pharmacies), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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In 2022, the OTC segment accounted for around 63.2% market share
On the basis of the product, the global cold pain therapy market is segmented into OTC and prescription. The over-the-counter (OTC) segment has emerged as the largest contributor to the cold pain therapy market. this dominance can be attributed to the convenience and accessibility offered by OTC products. These products, including cold packs, gels, and sprays, do not require a prescription and can be easily purchased by consumers for self-administration. The familiarity of OTC cold pain therapy products and the preference for quick and immediate relief have driven their widespread adoption. Additionally, the OTC segment aligns well with the growing trend of self-care and empowers consumers to manage their pain effectively without the need for medical intervention.
The musculoskeletal disorders segment held the largest market with more than 38.2% revenue share in 2022
Based on the application, the global cold pain therapy market is segmented into musculoskeletal disorders, post-operative therapy, sports injuries, and post-trauma therapy. The musculoskeletal disorders segment has emerged as the largest market contributor in the field of cold pain therapy. This can be attributed to the high prevalence of conditions such as sprains, strains, and arthritis, which often result in localized pain and inflammation. Cold pain therapy's ability to provide targeted relief by reducing blood flow and metabolic activity in affected tissues makes it a favored option for managing such disorders. As individuals seek non-invasive and drug-free pain relief solutions, the musculoskeletal disorders segment experiences a strong demand for cold therapy products, solidifying its prominent position within the market.
The E- pharmacies segment is expected to grow at a significant CAGR during the forecast period
Based on the distribution channel, the global cold pain therapy market is segmented into retail pharmacies, hospital pharmacies, and E- pharmacies. The E-pharmacies segment is poised for significant growth in the cold pain therapy market due to evolving consumer preferences and the convenience offered by online platforms. As digitalization continues to shape healthcare, consumers are increasingly turning to e-pharmacies for purchasing medical products, including cold pain therapy solutions. The ease of browsing and buying products online, coupled with doorstep delivery, appeals to a wide demographic. Moreover, the extensive product information available online assists consumers in making informed choices.
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Asia-Pacific is predicted to grow at a fastest CAGR of around 5.5% over the projected period.
Based on region, Asia-Pacific is expected for the fastest growth in the cold pain therapy market during the forecast period due to the large population, increasing healthcare expenditure, and rising awareness of advanced pain management methods contribute to this growth. As urbanization and sedentary lifestyles lead to a surge in orthopedic issues and injuries, the demand for effective pain relief solutions like cold therapy is expected to rise.
North America dominates the cold pain therapy market with the largest market share due to several factors. The region boasts advanced healthcare infrastructure, a high prevalence of orthopedic injuries, and a growing geriatric population prone to chronic pain.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global cold pain therapy market include Beiersdorf AG, Hisamitsu Pharmaceutical Co., Inc., Johnson & Johnson, Pfizer, Rohto Pharmaceutical, Cardinal Health Inc., Bird & Cronin, Compass Health Brands, Medline Industries, Performance Health, Romsons Group of Industries, Unexo Life Sciences, Polar Products, Rapid Aid, Mueller Sports Medicine, Bruder Healthcare Company, Brownmed Inc., Medichill, and ThermoTek, Inc.
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Recent Market Developments
In April 2022, Zixa Strong introduced a new oil-in-water FlashMicelle Technology with a dual-action formulation for rapid pain relief.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global cold pain therapy market based on the below-mentioned segments:
Cold Pain Therapy Market, By Product
- OTC
- Prescription
Cold Pain Therapy Market, By Application
- Musculoskeletal Disorders
- Post-operative Therapy
- Sports Injuries
- Post-trauma Therapy
Cold Pain Therapy Market, By Distribution Channel
- Retail Pharmacies
- Hospital Pharmacies
- E- Pharmacies
Cold Pain Therapy Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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