According to the new market research report “Cold Pain Therapy Market by Product (OTC (Gels, Sprays, Patches, Cold Packs, Wraps, Pads, and Roll-Ons), Prescription-Based (Motorized, Non-Motorized Devices), Applications (Musculoskeletal Disorders, Post-Operative Therapy, Sports Medicine, and Post-Trauma Therapy) – Global Forecast” published by MarketsandMarkets™.
Revenue Growth Opportunities and Growth Drivers?
The Global Cold Pain Therapy Market is projected to reach $2.12 billion, at a CAGR of 4.6% during the forecast period.
Growth Driver in Depth:
- Increasing Incidence of Sports Injuries and Rising Emphasis on Exercise and Gym Activities
- Growing Number of Hip and Knee Surgeries Across the Globe
- Growing Need for Safer Pain Management Modalities as Opposed to Oral Drug Therapy
- Clinical Evidence in Favor of Menthol-Based Topical Analgesics
Key Market Growth Opportunities;
- Growing Adoption of Analgesic Patches Because of the Advantages Associated With the Use of Them
- Aging Population Sensitive to Traumatic Injuries
- Growing Awareness Among Consumers Owing to Promotional Marketing Strategies
- Increasing Regulatory Barriers for Oral Pain Medications
Browse 106 market data Tables and 126 Figures spread through 273 Pages and in-depth TOC – Request Research Sample Pages:
Market Segmentation in Detailed:
Based on product, the cold pain therapy market is divided into OTC products and prescription products. OTC products are expected to grow at the highest CAGR during the forecast period. The high patient preference for topical pharmaceuticals as compared to oral medications, owing to their lower side effects, fast pain relief, and convenience, is expected to drive the growth of the OTC products segment in the next five years.
The cold pain therapy market is segmented, by application, into musculoskeletal disorders, post-operative therapy, sports medicine, and post-trauma therapy. The musculoskeletal disorders segment is expected to account for the largest share of the market, owing to the increasing incidence of arthritis, osteoarthritis, back pain, and joint pain; increasing trend of self-care; and the growing preference for topical analgesics to manage musculoskeletal pain.
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Leading Key Players in the Worldwide Industry:
The major players in the cold pain therapy market are Sanofi (France), DJO Finance (US), and Pfizer (US). Other players in this market include 3M (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), Custom Ice (US), and Unexo Life Sciences (India).
Geographical Regions Mapped in Report:
Geographically, the cold pain therapy market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest share of the market. The growing geriatric population, the high incidence of arthritis and sports injuries, product launches, the large number of surgeries, and stringent regulations on opioid prescription are expected to drive the growth of cold pain therapy products this region.