Market Report Titled "Cold Pain Therapy Market Research Report – Forecast to 2023" is a Specialist Examination Report Explores the Industry by Research Methodology, Segmentation, Key Players, and Major Region Globally.

Highlights

The Global 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.

Leading Key Players

Some of the key players in the global cold pain therapy market Medline Industries (US), Sanofi (France), Breg (US), DJO Global (US), Pfizer (US), Johnson & Johnson (US), Össur (Iceland), Performance Health (US), Beiersdorf (Germany), Hisamitsu Pharmaceutical (Japan), Rohto Pharmaceutical (US), Romsons Group of Industries (India), and Others.

Segmentation

The Global Cold Pain Therapy 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 over the counter products are sub segmented into gels, sprays, patches, cold packs, wraps, pads, and roll-ons use for the treatment of injuries.

The prescription products are sub segmented into motorized and non-motorized devices.

On the basis of application, the cold pain therapy market is segmented into musculoskeletal disorders, post-operative therapy, sports medicine, and post-trauma therapy.

On the basis of therapy, the cold pain therapy market is segmented into icepack therapy, chamber therapy and cryosurgery.

On the basis of end-user, the cold pain therapy market is segmented into hospitals and clinics, sports person, adults, and others.

Regional Analysis

The Americas is expected to lead the market owing to increase research and development in cold pain therapy, rising demand for the products to reduce the swelling and arthritis pain. According to the Arthritis Foundation it is estimated that 78 million people may be diagnosed with arthritis in 2040.

It was also estimated that currently 31 million of Americans are affected with osteoarthritis. The increasing number prevalence of arthritis with in the population may influence the cold pain therapy market.

Europe is anticipated to be the second largest cold pain therapy market during the forecast period. The increasing prevalence of non-traumatic joint disorders such as knee pain, chronic infectious arthritis and crystalline synovitis is rising the demand for cold pain therapy products. The increase in number of surgeries also support the cold pain therapy market. 

According to the National Center for Biotechnology Information 2016, publication it was reported that people affected from septic arthritis (SA) ranges between 2 and 10 per 100,000 patients in the US and Western Europe. The increasing geriatric population and increasing cases of arthritis supports the market growth of cold pain therapy market.

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Asia-Pacific was expected to be the fastest growing region for the global cold pain therapy market in 2017. The market is expected to witness high growth owing to the increasing geriatric population with arthritis problem and increasing injuries during sports activities, and presence of major players in cold pain therapy market.

According to the MoHFW, Government of India, 2017, reported that osteoarthritis is the most common rheumatologic disease affecting the Indian population with the prevalence of 22% to 39%. The increasing prevalence of rheumatologic disease affecting the large number of populations support the cold pain therapy market.

The Middle East and Africa holds the lowest share for cold pain therapy market due to the low per capita income and availability of alternative treatment method. However, the rising demand for pain relieving products may increase the market growth in Middle East and Africa.

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