At 5.8% CAGR, the South & Central America Cold Pain Therapy Market is Projected to be Worth US$ 135.19 million by 2028, says Business Market Insights

According to Business Market Insights research, the South & Central America cold pain therapy market was valued at US$ 96.16 million in 2023 and is expected to reach US$ 135.19 million by 2028, registering a CAGR of 5.8% from 2022 to 2028. Increasing sports injuries and orthopedic surgeries and significant rise in elderly and obese population attributed to the South & Central America cold pain therapy market expansion.

A large population is opting for an active lifestyle, which has increased physical activities such as gymming and sports. This has led to a surge in sports-related injuries such as rotator cuff injuries, ligament tears, tendon rupture, sprains & strains, and swollen muscles. According to the Hopkins Medicine report, ~3.5 million sports injuries are reported in the US every year. As per Hospital for Special Surgery, rotator cuff injuries are highly common and affect 2-4 million people in the country every year. Rotator cuff conditions develop over time among athletes that can cause trauma. Thus, an increase in sports and physical activities is expected to cause pain, which is creating the demand for cold pain therapy. Further, the increasing geriatric population is highly prone to various orthopedic conditions such as joint disorders, joint replacement, osteoarthritis, and rheumatoid arthritis. According to The Center Orthopedic & Neurosurgical Care & Research, by 2030, total knee replacement surgeries are projected to grow by 673% to reach 3.5 million procedures per year. As a result, the number of orthopedic surgeries has increased, which creates the demand for cold pain therapy in pain management as postoperative care. Additionally, the rising prevalence of musculoskeletal disorders is expected to increase the need for cold pain therapy for various musculoskeletal disorders such as trauma, back pain, tendinitis, sarcopenia, osteopenia, and low back injuries. According to World Health Organization (WHO), the musculoskeletal disease affects ~1.71 billion people globally; low back pain is the leading cause of disability in 160 countries. Moreover, an increase in road accidents and trauma cases is contributing to a major share of orthopedic surgeries. Thus, the increase in sports and physical activities and the surge in orthopedic surgeries owing to sports injuries, a large geriatric population, and a high number of trauma cases are driving the South & Central America Cold pain therapy market growth.

On the contrary, lack of awareness, unfavourable reimbursement scenarios, and side effects of cold pain therapy hampers the South & Central America cold pain therapy market.  

Based on application, the South & Central America cold pain therapy market is segmented into runner's knee, tendonitis, sprains/sports sprain, arthritis pain, pain & swelling after a hip or knee replacement, pain & swelling under a cast or a splint, surgery recovery, lower back pain, and others. The surgery recovery segment held 27.7% share of South & Central America cold pain therapy market in 2022, amassing US$ 26.62 million. It is projected to garner US$ 38.79 million by 2028 to expand at 6.5% CAGR during 2022–2028. 

Based on offering, the South & Central America cold pain therapy market is segmented into over the counter, prescription products, rehabilitation exercises, ice wraps & cold packs, pads, compression therapy, and others. The prescription products segment held 32.0% share of South & Central America cold pain therapy market in 2022, amassing US$ 30.76 million. It is projected to garner US$ 44.62 million by 2028 to expand at 6.4% CAGR during 2022–2028.

Based on end user, the South & Central America cold pain therapy market is segmented into hospitals, clinics, rehabilitation centers, ambulatory surgical centers, individuals, and others. The hospitals segment held 42.6% share of South & Central America cold pain therapy market in 2022, amassing US$ 40.95 million. It is projected to garner US$ 57.25 million by 2028 to expand at 5.7% CAGR during 2022–2028.

Based on country, the South & Central America cold pain therapy market has been categorized into the Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 38.0% share of South & Central America cold pain therapy market in 2022. It was assessed at US$ 36.57 million in 2022 and is likely to hit US$ 50.44 million by 2028, exhibiting a CAGR of 5.5% during 2022–2028.      

Key players operating in the South & Central America cold pain therapy market are DJO Global Inc, Ossur hf, Cardinal Health Inc, Johnson & Johnson Services Inc, and Beiersdorf, among others.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com