The Research Report on “Cold Pain Therapy Market by Product (OTC (Gels, Creams, Patches, Wraps, Pads), Prescription Devices (Motorized, Non-Motorized), Applications (Musculoskeletal, Post Op, Sports Medicine), Distribution Channel(Hospital, Retail) – Global Forecasts to 2025“, is projected to reach USD 2.0 billion by 2025 from USD 1.6 billion in 2020, at a CAGR of 4.4% during the forecast period.
Growth Driver: Increase in the prevalence of incidence of sports injuries;
Musculoskeletal injuries are the most common forms of sports-related injuries. Some of the common injuries include ankle sprains, knee injuries, fractures, joint injuries, tennis elbow (epicondylitis), and dislocations. Cold pain therapy products, such as ice packs and sprays, are the most commonly used products for the management of pain associated with sports-related injuries as they provide instant pain relief. Furthermore, with rising disposable income levels, growing health awareness, growing obesity rate, and growing stress levels, the emphasis on gym activities and workouts among adults across the globe has increased augumenting the market growth.
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Industry Segmentation In Detailed:
The OTC product segment is expected to have the largest market share during the forecast period
The large share of this segment is attributed to factors such as the significant increase in the prevalence of musculoskeletal disorders such as osteoarthritis, back and neck pain and rise in awareness among patients about the growing availability of OTC cold pain therapy products.
Musculoskeletal Disorders accounted for the largest share of the cold pain therapy market.
The growing prevalence of musculoskeletal disorders globally and the demand for the cost effective pain relief products and the growing awareness about the availability of effective cold therapy products for the musculoskeletal disorders pain management and rise in the geriatric patient population are likely to fuel the growth of this segment during the forecast period.
The Retail Pharmacies accounted for the largest share of the cold pain therapy market.
The segment accounted for the highest share owing to the increasing growing awareness about the availability of effective cold pain therapy products in retail pharmacies, increase in the expansion of retail pharmacies through collaboration with e-pharmacies and the major focus on strengthening the brand connection among customnesr by widening their personal consultant services are some of the factors anticipated to preopel the growth of this segment.
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Leading Key Players and Analysis:
Prominent players in this Cold Pain Therapy Market are Sanofi (France), Pfizer (US), Hisamitsu Pharmaceutical (Japan), ROHTO Pharmaceutical (Japan), Beiersdorf (Germany), Johnson & Johnson (US), Medline Industries (US), Össur (Iceland), Performance Health (US), Breg (US), Romsons Group of Industries (India), Unexo Life Sciences (India), and Bird & Cronin (US)
Sanofi is among the leading pharmaceutical companies in the world. It focuses on the research, development, manufacture, and commercialization of healthcare products (including medicines, vaccines, and therapeutic products). The company operates its business through three segments, namely, Pharmaceuticals, Vaccines, and Consumer Healthcare. Sanofi offers a wide range of cold pain therapy products, such as patches, creams, sprays, balms, and roll-ons,through its Consumer Healthcare segment and its subsidiary Chattem, Inc. (US),
Geographical Analysis in Detailed:
The emerging Asian countries, such as China, India, South Korea, Japan and Singapore, are offering high-growth opportunities for market players. The Asia Pacific cold pain therapy market is projected to grow at the highest CAGR of 5.6% from 2020 to 2025. Growing preference for topical products, especially cold patches, expansion of helathacre infrastructure, growing awareness of cold therapy products the region. Moreover, emergence of key players with established prpduct portfolio are driving the growth of the APAC pain therapy market.
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