ID: MRFR/Pharma/5421-HCR | February 2021 | Region: Global | 90 pages
Cold Pain Therapy Market Scenario:
The Cold Pain Therapy Market was estimated USD 1.62 Billion in 2017 and expected to reach USD 2.12 Billion by 2023 at a CAGR of 4.6 % during the forecast period. Cold Pain Therapy is also called as cryotherapy, this therapy is used to reduce swelling and inflammation that causes pain. The use of cold pain therapy also reduces the nerve activity for some time which decreases the pain. The major factors contributing for the growth of cold pain therapy market are increasing in the injuries caused while sports activities, gym activates, and rising healthcare expenditure on injuries cause during physical activities. However, the factors such as lack of compensation, clinical indication for the medicine for cold pain therapy, and distress associated with the treatment may hamper the market growth. Cold Pain Therapy Market Segmentation:
The Market is segmented on the basis of product, application, therapy, and end-user. The Cold Pain Therapy Market, by product is segmented into over the counter (OTC) and prescription products. The OTC products are sub segmented into gels, sprays, patches, cold packs, wraps, pads, and roll-ons and the prescription products is sub segmented into motorized and non-motorized devices. By application the market is segmented into musculoskeletal disorders, post-operative therapy, sports medicine, and post-trauma therapy. On the basis of therapy, the market is segmented into icepack therapy, chamber therapy and cryosurgery. On the basis of end-user, the market is segmented into hospitals and clinics, sports person, adults, and others.
On the basis of region, the global cold pain therapy market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas is sub-segmented into North America and South America. The North American region is further segmented into the US and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the UK, Spain, and the rest of Western Europe. The Asia-Pacific region is sub-segmented into Japan, China, India, Australia, the Republic of Korea, and the rest of Asia-Pacific. The Middle Eastern and African region is sub-segmented into the United Arab Emirates, Saudi Arabia, Oman, Kuwait, Qatar, and the rest of the Middle East and Africa.
List of Key Players Mentioned in Report:
Regional Market Summary
Global Cold Pain Therapy Market Share (%), by Region, 2017
Sources: National Cancer Institute, Cancer research UK, the American Cancer Society, Inc, US Department of Health and Human Services National Institutes of Health
It is estimated that North America dominated the Global Cold Pain Therapy Market owing to the increase in the healthcare spending with increasing cases of injuries during sports activities, growing importance and emphasis on gym activities to maintain health, all these factors support the growth of market. The National Safety Council (NSC) reported that in 2015, maximum injuries were caused due to sports activities, basketball with 493,011 people, followed by biking with 488,123 injuries and 399,873 were injuried while playing football. The large number of injuries cause due to sports activity may increase the demand for global cold pain therapy.
Europe stood second largest in the cold pain therapy market owing to the increasing government regulation process for pain medicines, increasing accident cases due to dinking and driving, and increasing backpain due to various reasons. Most of the pain killers contain opioids which have adverse effects on body. To avoid the side effects and reactions cause due the medicines patients prefers cold pain therapy treatment to reduce the pain. The long-term use of painkiller may lead to addition or the
body might build up a tolerance to the medicine, as a result higher doses of drug have to be taken to get the same effects. This will lead to increase the demand for cold pain therapy products that simple to use with no side effects.
Asia-Pacific was anticipated to be the rapidly growing region for the cold pain therapy market. The market is likely to witness growth owing to the increasing demand of pain relief ointments by increase in geriatric population, physical injuries due to sports activities and rising use of products with less side effects.
The Middle East and Africa holds low share in the Global Cold Pain Therapy Market due to the lack of awareness and less expenditure on healthcare. However, the market is expected to witness growth due to increasing hospitals and rising demand for the products in the Middle East.
Global Cold Pain Therapy Market, by Product: Over the Counter Products:
Global Cold Pain Therapy Market, by Therapy:
Global Cold Pain Therapy Market, by Application:
Global Cold Pain Therapy Market, by End-Users:
Global Cold Pain Therapy Market, by Region: