The Factors such as increasing prevalence of arthritis and the rising number of sports injuries are the key factors boosting the demand for cold pain therapy products for the management of pain. Moreover, growing awareness about the availability of cost-effective cooling pain relief products and the ease of application of cold pain therapy products are anticipated to accelerate the adoption of these products in the coming years.
According to the new market research report “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″ published by MarketsandMarkets™, 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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Geographically, the emerging Asian countries, such as China, India, South Korea, Japan and Singapore, are offering high-growth opportunities for market players. The Asia Pacific 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.
Prominent players in Cold Pain Therapy Market 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)
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Market Segmentation in Detailed:
Musculoskeletal Disorders accounted for the largest share of the cold pain therapy market.
The growing prevalence of musculoskeletal disorders gloablly and the demand for thecost effective pain relief ptroducts and the growing awareness about the avaolibility 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.
Retail Pharamcies 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-pharacies and the major focus on strengthening the brand connection among customnesr by widening their personal consulatnat services are some of the factors anticipated to preopel the growth of this segment.