Cold Pain Therapy Market by Product (OTC Products and Prescription Products), Application (Post-operative Therapy, Sports Medicine, Orthopedic Conditions, and Post-trauma Therapy), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and E-Commerce): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026013 | Pages: 100 | Industry: Medical Device | Date: Sep 2022 | Type: Global

The market crossed the US$ 1.0 billion mark in 2022 and is expected to hit US$ 3.0 billion by 2030, recording a CAGR of 5.0% during the forecast period.

What do you need to know about Cold Pain Therapy?

Cold pain therapy is used along with compression, elevation, and bracing to treat acute injuries. For example, non-steroidal anti-inflammatory drugs (NSAIDs) can produce a similar effect to cold pain therapy. However, NSAID therapy may delay the healing of acute injuries. But cold pain therapy with the utility of ice and heat can provide effective benefits. For example, cryotherapy is an effective cold pain therapy procedure involving ice packs, coolant sprays, ice massages, whirlpools, or ice baths. These are one of the simplest, time-tested remedies for managing pain and swelling.

Further, The Johns Hopkins University 2022 report states that, in the US, about 20 million children and teens participate in organized sports with suffering from 3.5 million injuries annually. Also, one-third of all injuries incurred in childhood are sports-related injuries. Therefore, the Public Library of Science (PLOS) report states that cryotherapy is one of the most effective interventions for pain management and swelling in acute sports injuries owing to several advantages. These include decreased edema-like conditions, reduced pain, decreased blood flow, decreased muscle spasms, decreased inflammation, and reduced metabolic process. Such aforementioned factors are responsible for escalating growth of the overall cold pain therapy market during the forecast period. The OTC products segment is expected to pace up with the easy accessibility of OTC products in retail and online pharmacies and is expected to gain traction during the forecasted year.

Within the report, the market is segmented into product, application, distribution channel, and geography. On the basis of products, the market is further segregated into OTC products and prescription products. Further, OTC products are sub-segmented as gels, ointments, & creams, sprays & foams, patches, roll-ons, cold packs, and others. Additionally, the prescription products is further bifurcated into motorized devices and non-motorized devices. By application, the market is segmented as orthopedic conditions, post-operative therapy, sports medicine, and post-trauma therapy. By distribution channel, the market is segregated as hospital pharmacy, retail pharmacy, and e-commerce. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

COVID-19 impact on cold pain therapy market.

The emergence of the COVID-19 pandemic resulted in the disruption of medical care globally. For example, supply chains faced major disruptions worldwide, with several rehabilitation centers or pain management centers, shut down abruptly owing to the pandemic resulting in decreasing access to cold pain therapy products across and within the population. With trauma and sports injuries witnessing temporary closures, there was a further reduction in sales of cold pain therapy products. However, growth in cold pain therapy will accelerate in the coming years providing effective treatment and demand for products globally.

Over-the-Counter (OTC) products segment showcases high growth of cold pain therapy market.

Sports injuries are common and can occur throughout the body to bones, muscles, tendons, ligaments, and other structures. Such injuries can be well treated with over-the-counter (OTC) medications. As per the American Society of Anesthesiologists report published in 2022, millions of American children and teenagers participate in organized sports. For example, sports injuries such as pulled muscles and concussions account for more than 2.6 million children to emergency rooms annually, per the estimates provided by the Centers for Disease Control and Prevention (CDC). Therefore, for treating such sports-associated injuries, over-the-counter medications involving acetaminophen and non-steroidal anti-inflammatory drugs (NSAIDs) such as ibuprofen are majorly utilized. Such aforementioned factors accelerate the high adoption of OTC products enhancing segmental growth and ultimately responsible for the overall market growth of the global cold pain therapy market during the forecast period.

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Recent strategic developments in the cold pain therapy market

The cold pain therapy market has undergone several significant developments, and a few of these have been mentioned below:

  • In June 2021, Hisamitsu Pharmaceutical CO., Inc. announced the launching of a new product namely, "Air Salonpas Z" an analgesic and anti-inflammatory spray intended for treating muscle pain, bruises, and sprains.
  • In January 2022, Ember Technologies, Inc. (Ember), announced a partnership with Cardinal Health for offering the world's first self-refrigerated, cloud-based shipping box namely, the "Ember Cube". Through this collaboration, it will enhance to deliver of a cold chain solution ensuring product integrity and security throughout the supply chain for temperature-sensitive medicine.

The cold pain therapy market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Breg, Inc., DJO, LLC, Hisamitsu Pharmaceutical Co., Inc., Johnson & Johnson Services, Inc., DeRoyal Industries, Inc., Romsons Group of Industries, Sanofi, UNEXO LIFE SCIENCES PVT. LTD., Mueller Sports Medicine, Inc. Brownmed, Inc. are among the prominent players operating in the market.

Target audience for the report:

  • Cold pain therapy service providers
  • Cold pain therapy related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • End users of Cold pain therapy
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Product:
    • OTC Products
      • Sprays & Foams
      • Gels, Ointments, & Creams
      • Patches
      • Cold Packs
      • Roll-Ons
      • Others
    • Prescription Products
      • Non-motorized Devices
      • Motorized Devices

 

  • Application
    • Post-operative Therapy
    • Orthopedic Conditions
    • Post-Trauma Therapy
    • Sports Medicine
  • Distribution Channel:
    • Hospital Pharmacy
    • Retail Pharmacy
    • E-Commerce
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Breg, Inc.
    • DJO, LLC
    • Hisamitsu Pharmaceutical Co., Inc.
    • Johnson & Johnson Services, Inc.
    • DeRoyal Industries, Inc.
    • Romsons Group of Industries
    • Sanofi
    • UNEXO LIFE SCIENCES PVT. LTD.
    • Mueller Sports Medicine, Inc.
    • Brownmed, Inc.

Companies profiled
- Breg, Inc.
- DJO, LLC
- Hisamitsu Pharmaceutical Co., Inc.
- Johnson & Johnson Services, Inc.
- DeRoyal Industries, Inc.
- Romsons Group of Industries
- Sanofi
- UNEXO LIFE SCIENCES PVT. LTD.
- Mueller Sports Medicine, Inc.
- Brownmed, Inc.

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