Cold Pain Therapy Market Segmentation, Application, Technology and Analysis Report Forecast to 2030
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Cold
Pain Therapy Market Overview
Cold pain therapy is also used to
treat plantar fasciitis, tennis elbow, carpal
tunnel syndrome, iliotibial band syndrome, and patellofemoral pain syndrome.
With the augmenting demand for products that helps to reduce pain without
medication, the market for cold pain therapy is considered to flourish. The
accelerating incidences of injuries caused while gym activities, sports
activities coupled with the growing healthcare expenditure on injuries are some
of the top factors considered to fuel the market growth throughout the
assessment period. The aging population is another driving factor as they are
prone to swelling. The growing acceptance of analgesic patches across the world
and self-care preferences are further estimated to influence the market growth.
Moreover, the rising prevalence of prostate,
skin, cervical cancer and retinoblastoma
are fueling the market growth. The
increasing incidences of musculoskeletal disorders and other muscle and
bone-related disorders are estimated to contribute to the market growth in the
coming years.
Market Research Future (MRFR) asserts
that the global Cold Pain Therapy
Market is predicted to garner USD 1742.95 Million,
demonstrating a CAGR of 4.50 % during the forecast period (2022-2030).
Increased incidences of injuries occurred during sports activities are favoring
the market growth to a large extent. Also termed as cryotherapy, cold pain
therapy is used to minimize inflammation and swelling that causes pain. With
the use of cold pain therapy, the nerve activity is reduced for a certain
period which further helps to reduce the pain. They are generally used to
reduce the inflammation or pain caused by physical activities like injury
caused while playing or sprain in ligament or muscle during gym.
On the contrary, lack of compensation,
distress related to the treatment, and clinical indication for the medicine are
some of the top barriers considered to vitiate the market growth throughout the
estimated period. Moreover, lack of reimbursement policies and financial
assistance coupled with the discomfort associated with the treatment are
considered to deter the market growth across the globe.
Cold Pain Therapy Market Segmentation
The global cold pain therapy market
has been segmented on the basis of product, therapy, application, and
end-users.
By mode of product, the global cold
pain therapy market has been segmented into prescription products and over the
counter (OTC). Among these, the OTC products are estimated to expand at the highest
rate throughout the appraisal period. The rising preferences of the patients
for topical pharmaceuticals compared to oral medications due to their fast pain
relief, lower side effects, and convenience are predicted to fuel the segment
growth in the coming years.
By mode of therapy, the global cold
pain therapy market has been segmented into chamber therapy, cryosurgery, and
icepack therapy.
By mode of application, the global
cold pain therapy market has been segmented into post-operative therapy, musculoskeletal
disorders, post-trauma therapy, and sports medicine. Among these, the
musculoskeletal disorders segment is considered to occupy the largest market
share due to the rising prevalence of arthritis, back pain, osteoarthritis, and
joint pain. Moreover, with the rising trend of self-care coupled with the
rising preferences for topical analgesics in order to manage musculoskeletal
pain are some of the factors likely to foster the segment growth across the
globe.
By mode of end-users, the market has been
segmented into hospitals & clinics and sports person, adults, and others.
Cold Pain Therapy Market Regional Analysis
Geographically, the cold pain therapy
market span across regions namely, Europe, America, Asia-Pacific, and the
Middle East and Africa.
Considering the global scenario, the
American region is anticipated to lead the global market due to the extensive
R&D activities in cold pain therapy. The increasing demand for products to
reduce arthritis pain and swelling are contributing to the market growth in
this region. As per the Arthritis Foundation, approximately 78 million people
are predicted to be diagnosed with arthritis in 2040.
The European region is considered to
be the second-largest region in cold pain therapy owing to the rising incidences
of non-traumatic joint disorders like chronic infectious arthritis, knee pain,
and crystalline synovitis. With the growing number of surgeries, the market is
considered to fuel in this region. Moreover, the growing geriatric population
coupled with the rising cases of arthritis is highly supporting the market
growth.
The Asia Pacific region is considered
to be the fastest growing region owing to the rising geriatric population
suffering from arthritis. Moreover, the rising injuries occurring during sports
activities coupled with the presence of major market players in this region are
some of the other major factors likely to influence the market growth. Also, with the augmenting prevalence of
rheumatologic disease impacting a large number of population, the market is
estimated to flourish.
Competitive
Dashboard
The major players operating the global
cold pain
therapy market Players are Pfizer (US), Beiersdorf (Germany), Rohto
Pharmaceutical (US), Medline Industries (US), Breg (US), Johnson & Johnson
(US), DJO Global (US), Sanofi (France), Hisamitsu Pharmaceutical (Japan), Össur
(Iceland), Performance Health (US), Romsons Group of Industries (India), and
others.
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