Global Cold Pain Therapy Market research report estimates a considerable growth of the market in percentage during the forecast period of 2019-2026. This market report brings about the list of the top competitors and presents insights on strategic industry analysis of the key factors influencing the market. Qualitative and transparent research studies are performed devotedly to offer you an excellent market research report for your niche. Global Cold Pain Therapy Market research report conducts a precise analysis of the current scenario of the market, which covers several market dynamics. In the Global Cold Pain Therapy Market report, market drivers and market restraints are studied carefully along with the analysis of the market structure.
Global Cold Pain Therapy Market is expected to rise gradually registering a substantial CAGR of 5.3% in the forecast period of 2019-2026. This rise in market value can be attributed to increase in the number of injuries caused during sports activities, rise in emphasis on exercise and gym activities to maintain health, growth in health care expenditure due to physical injuries caused by obesity or lack of activity and stringent regulatory approval process for oral pain medicines during the forecast period .
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Some of the major players operating in the global cold pain therapy market are Sanofi, 3M, Rohto Pharmaceutical Co., Ltd., DJO Global, Medline Industries. Inc., Unexo Laboratories Pvt. Ltd., Bruder Healthcare, Hot and Cold Company, Polar Products Inc., FrozenPeaz Inc., Medichill UK, Romsons, MeyerDC, Hisamitsu Pharmaceutical Co., Breg, Inc., Rgis, Llc., Rapid Aid, Performance Health, Össur Corporate, Medtronic among others.
Market Definition:
Cold therapy also known as cryotherapy uses cold material for relieving local pain, myofascial pain and pain due to muscle spasm. It reduces the blood flow to a particular area, which help in reducing the inflammation and swelling around joints. This cold treatment slows down the blood flow to the injury and hence reducing the swelling and pain. The use of ice packs is most widely used as a primary analgesic in relieving pain. Mainly the injuries caused due to the sports activity, gym activities are the major drivers for the growth of this market.
Reasons to Purchase this Report
- Current and future of global cold pain therapy market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
The increase in market value can be attributed to rise in the number of injuries due to sports activities, increase in geriatric population, exercise and gym activities for health maintenance, increase in health care expenditure due to obesity and supportive initiative of the government is flourishing the market growth.
Market Drivers
- Increase in geriatric population is enhancing the market growth
- Increase in demand of cold pain therapy mainly in the field of sports injury is a driving factor for the market growth
- Availability of several products for pain relief in the market is accelerating the growth in the market
- Growing awareness among consumers owing to promotional marketing strategies
- Supportive initiative of the government is flourishing the market growth
Market Restraints
- Side effects due to use of cold pain therapies coupled with various discomforts is a restraint in the market growth
- The clinical evidence for the medication of cold pain therapy is also hampering the market growth
Competitive Analysis:
Global cold pain therapy market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cold pain therapy market for global Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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Key Developments in the Market:
- In June 2018, Halyard Health, Inc. in Alpharetta announced a definitive agreement to acquire Cool Systems, Inc., marketed as Game Ready, a provider of cold therapy and compression therapy systems. This would help in broadening the orthopedic footprint and would provide innovative non-opioid therapies that reduce or eliminate the usage of opioids for surgical patients
- In April 2019, Pacira BioSciences, Inc. announced its acquisition with MyoScience, Inc. (“MyoScience”), which will advance the non-opioid pain management by adding the FDA-approved iovera system to the Pacira commercial offering. This would help patients and healthcare providers to fight the opioid crisis by offering innovative therapies to decrease or eliminate the need for opioids
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