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Cold Pain Therapy Market Research Report, by Product (Gels, Sprays, Patches), Therapy (Icepack Therapy and Chamber Therapy), Application (Musculoskeletal Disorders), End-User (Hospitals and Clinics and Sports person) – Forecast Till 2032


ID: MRFR/Pharma/5421-HCR | 90 Pages | Author: Rahul Gotadki| July 2024

Global Cold Pain Therapy Market Overview


Cold Pain Therapy Market Size was valued at USD 1.82 Billion in 2023. The Global Cold Pain Therapy industry is projected to grow from USD 1.96 Billion in 2024 to USD 4.37 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.58% during the forecast period (2024 - 2032).


Cold Pain Therapy, also known as cryotherapy, is a kind of treatment used to decrease swelling and pain that has been the source of pain. 


The usage of cold pain treatment also has the additional benefit of temporarily decreasing nerve signals, which lessens pain. The growing number of injuries sustained while participating in athletics and gym exercises, as well as the expanding health care costs related to injuries sustained while participating in sports exercise, are the primary drivers driving the expansion of the cold pain therapy market outlook. Market expansion, nevertheless, may be limited by issues such as a shortage of remuneration, a shortage of clinical indications for the drug for cold pain treatment, as well as the misery related to the treatment, among others.


In February 2024, Zynex, Inc. (NASDAQ: ZYXI), a company of innovative medical technology specialized in manufacturing and selling non-invasive medicine equipment for pain management, patient monitoring, and rehabilitation, unveiled two new therapy products: the Zynex Pro Hybrid LSO and the Zynex DynaComp Cold Compression. The Zynex Pro Hybrid LSO is an all-purpose spinal orthosis that is 3-in-1 and has a modular design that readily adjusts to individual patient needs. This innovation’s orthosis is built for perfect ease and support during the transition from rehab to recovery stage, thus allowing only one brace per treatment period. The latest device by Zynex is called the DynaComp Cold Compression, which combines cold therapy and compression to catalyze healing at any time or any place. 


In October 2023, a leading innovator of home spa wellness solutions, Plunge, announced its latest product, The Plunge All-In today. With an entirely new version of their existing cold Plunge, this All-In integrates their recently engineered cooling system into the tub itself, offering luxury with a clean appearance. The brand’s recent successful release of the Sauna earlier this year has been followed closely by this new addition, which combines unspeakable beauty with advanced cooling technology for unique residential wellness.


In May 2017, ONUG IBM introduced its SaaS offering, IBM Hybrid Cloud Mesh, which is designed to enable enterprises to bring management in hybrid multicolored infrastructure. Application-centric connectivity drives IBM Hybrid Cloud Mesh, which is built to automate application connectivity process, management, and observability within public clouds as well as private clouds in order for modern enterprises to oversee an infrastructure running implementations spanning hybrid multi-clouds and heterogeneous environments. A modern enterprise works in an environment of hyper-distribution where users can be anywhere over the globe while applications are being hosted on any public cloud across multiple locations. According to IDC 2022, a study conducted in 2019 showed that up to 76% of enterprise data will be created and processed at the edge.


This report contains all the information on the global market analysis of Cold Pain Therapy and its strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other essential factors. And a detailed analysis of the Cold Pain Therapy Market forecast for 2027 is also included in the report.


Covid 19 Analysis of Cold Pain Therapy Market


The COVID-19 outbreak has hampered the cold pain therapy market growth. Due to the outbreak, accessibility to hospitals and commercial pharmacists was severely restricted, and orthopedic hospitals and rehab facilities were effectively suspended. Hospitalizations in the US fell by 30–60% after the countrywide lockdown was announced. The immediate suspension of gyms and fitness facilities, limits on outdoor physical endeavours, and social distancing procedures reduced the amount of stress and sports accidents. This further lowered cold pain treatment sales. This industry is likely to increase rapidly in the next months when health care facilities, pharmacies, and sports facilities reopen and lockdown restrictions are relaxed.


Cold Pain Therapy Market Trends


Drivers


Sports-related injuries involving the musculoskeletal system are the most prevalent. Tennis elbow, Ankle sprains, joint injuries, knee injuries, fractures, and dislocations are just a few of the more prevalent ailments that occur. Because they give immediate pain medication, cold pain therapy goods, including cold packs and mists, are most widely utilized to treat sports-related wounds. As a result of rising disposable income, increasing health awareness, increasing obesity rates, and increasing stress levels, individuals worldwide are placing more importance on gym routines and exercises.


Opportunities


Compared to standard parenteral or oral medication administration methods, patches are simple, non-invasive, painless, and convenient. They also improve patient adherence and offer site-specific dosage. Patches release an analgesic medication across the dermis when applied to the skin. Analgesic patches delivered transdermally have many benefits over oral medicines.


Restraints


Price-sensitive consumers in developing markets choose lower-cost goods. Analgesics including ibuprofen, paracetamol, and aspirin are some of the most often used OTC medications, and these medications are inexpensive. This, together with a lack of knowledge about the risks of painkillers, contributes to the widespread use of analgesics for rapid pain control.


The increased consumption of OTC pharmaceuticals by consumers in developing countries due to low-cost generic drugs, lack of understanding about novel pain management techniques, and rising medical problems limit market expansion.


Challenges


Patients often use alternative treatments options to alleviate symptoms of pain. Thus, patients' increased choice of alternative medicines may provide a key market growth barrier.


Cumulative Growth Analysis


The over-the-counter (OTC) product sector now controls the bulk of the market share due to its widespread availability and the emergence of e-commerce around the globe. Furthermore, the increasing frequency of musculoskeletal problems, as well as developments in product innovations that provide immediate pain relief, are propelling the segment's expansion forward. The availability of a diverse variety of goods, such as gels, patched skin, ice pack, roll-ons, and mists, is also projected to contribute to developing the OTC product category throughout the forecast period. For example, in March 2019, Performance Health announced the introduction of the Biofreeze pain treatment patch, which has since become a popular product.


Value Chain Analysis


According to the reports, the market is categorized further based on the product, Application, treatment, and end-user. The Cold Pain Therapy Market is classified into two types of goods: prescription products and over-the-counter (OTC) products. A subset of over-the-counter (OTC) items is divided into lotions and mists; a subset of prescription products are divided into motorized and non-motorized devices. A subset of OTC products is divided into gels and sprays. The market is categorized based on Application into four categories: musculoskeletal diseases, sports medicine, post-operative treatment, and post-trauma therapy. The market is split into three categories based on the kind of treatment used: chamber therapy, icepack therapy, and cryosurgery. Market segments are based on end-user, with hospitals and clinics being the most common. Other segments include adults, athletes, and others.


Cold Pain Therapy Market Segment Insights


The market is segmented on the product, Application, treatment, end-user, and regions. The global Cold Pain Therapy Market trend is expected to witness decent growth during the forecast period.


Cold Pain Therapy Application Insights


The Application is segmented into musculoskeletal diseases, sports medicine, post-operative treatment, and post-trauma therapy.


Cold Pain Therapy end-users Insights


The market is segmented into hospitals and clinics, being the most common. Other segments include adults, athletes, and others.


Cold Pain Therapy Analysis Insights


According to the reports, the market of Cold Pain Therapy is divided into the Americas, Europe, Asia-Pacific, Middle East, and Africa. North America is expected to lead the global cold pain therapy market share because of a rise in healthcare expenditure, an increase in sports-related accidents, and a rising focus on gym exercises to preserve fitness. According to the National Safety Council (NSC), sports activities produced the most injuries in 2015, with basketball accounting for 493,011 cases, second by bike with 488,123 cases, and 399,873 cases. Many sports-related injuries may lead to an upsurge in need for global cold pain treatment.


Due to the rising government influence of pain drugs, increased car accidents caused by driving while intoxicated, and increased back pain, Europe was the 2nd largest market for cold pain treatment. Opioid-based pain relievers are often found in most over-the-counter medications. Cold pain therapy is preferred by people who do not want to deal with the adverse reactions and responses that drugs might produce. The long-term utilization of painkillers may contribute to the development of dependence or the development of an addiction.


Competitive landscape


The cold pain therapy market value is somewhat fragmented, with more market participants than in the previous market. There are well-established industry companies that are gaining traction by embracing e-commerce and extending their operations into new geographic areas. Furthermore, the market of cold pain therapy is seeing the entrance of new industry players and the debut of new products, all of which are expected to make a significant contribution to market development.


Major Key Players



  • Sanofi (France)

  • DJO Global (US)

  • Pfizer (US)

  • Hisamitsu Pharmaceutical (Japan)

  • Johnson & Johnson (US)

  • Medline Industries (US)

  • Össur (Iceland), Performance Health (US)

  • Beiersdorf (Germany)

  • Rohto Pharmaceutical (US)

  • Breg (US)

  • Romsons Group of Industries (India)


Recent Developments



  • Cold Patches Biofreeze Pain Relief Patch was introduced by Performance Health in 2019.

  • Earlier this year, DJO Global debuted the DonJoy IceMan CLASSIC3 cooling pads.

  • A strategic relationship between Japanese pharmaceutical company Hisamitsu and the Tokyo 2020 Olympic and Paralympic Games was announced in 2018. Hisamitsu expanded its brand's visibility by becoming an official partner in the delivery of athelete-specific external pain treatment goods.


Cold Pain Therapy Market Segmentation


Cold Pain Therapy Product Outlook



  • Gels

  • Sprays

  • Patches

  • Cold Packs

  • Wraps

  • Pads

  • Roll-Ons


Prescription Products



  • Motorized

  • Non-Motorized Devices


Cold Pain Therapy Therapy Outlook



  • Icepack Therapy

  • Chamber Therapy

  • Cryosurgery


Cold Pain Therapy Application Outlook



  • Musculoskeletal Disorders

  • Post-Operative Therapy

  • Sports Medicine

  • Post-Trauma Therapy


Cold Pain Therapy End-Users Outlook



  • Hospitals and Clinics

  • Sports Person

  • Adults

  • Others


Cold Pain Therapy Region Outlook



  • Americas

  • Europe

  • Asia-Pacific

  • Middle East & Africa


Report Overview


The following report comprises of –



  • Market overview 

  • Covid 19 Analysis

  • Market Dynamic

  • Drivers

  • Opportunities

  • Restraints 

  • Challenges

  • Cumulative Growth Analysis

  • Value Chain Analysis

  • Segmentation Overview 

  • By Application 

  • By End-Users

  • Regional Analysis

  • Competitive landscape

Report Attribute/Metric Details
Market Size 2032 USD 4.37 Billion
Compound Annual Growth Rate (CAGR) 5.58% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Product, Application, Treatment, End-User, and Regions
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Sanofi (France), DJO Global (US), Pfizer (US), Hisamitsu Pharmaceutical (Japan), Johnson & Johnson (US), Medline Industries (US), Össur (Iceland), Performance Health (US), Beiersdorf (Germany), Rohto Pharmaceutical (US), Breg (US), Romsons Group of Industries (India), and Others.
Key Market Opportunities Advantages of Transdermal Analgesic Patches
Key Market Dynamics High Prevalence of Sports-Related Injuries and Growing Focus on Fitness and Health


Frequently Asked Questions (FAQ) :

During the projection period of 2024-2032, demand for over-the-counter (OTC) goods such as lotions, creams, patches, and the like is expected to be strong.

At the moment, North America is the fastest-growing market for cold pain treatment, and it is likely to take over as the leader in the near future.

It is nevertheless difficult to avoid the use of pain relievers and discomfort when undergoing cold pain treatment.

During the projection period of 2024-2032, demand for over-the-counter (OTC) goods such as lotions, creams, patches, and the like is expected to be strong.

At the moment, North America is the fastest-growing market for cold pain treatment, and it is likely to take over as the leader in the near future.

It is nevertheless difficult to avoid the use of pain relievers and discomfort when undergoing cold pain treatment.

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