The cold pain therapy market was valued at $1.9 billion in 2022 and is estimated to reach $3.04 billion by 2032, exhibiting a CAGR of 5.1%from 2023 to 2032.
Cryotherapy means cold therapy. Cryotherapy can be applied in various ways, including icepacks, coolant sprays, ice massage, and whirlpools, or ice baths. When used to treat injuries at home, cryotherapy refers to cold therapy with ice or gel packs that are usually kept in the freezer until needed. These remain one of the simplest, time-tested remedies for managing pain and swelling.
Cold therapy helps reduce inflammation. It’s most helpful when used for acute injuries and pain. It aids in slowing the rate of reducing tissue damage around a joint or tendon. Cold therapy can numb sore muscle tissue, almost acting as an anesthetic. It has the ability to slow down the pain signals that are transmitted to the brain. Cold compresses are part of a common at-home treatment for standard injuries - RICE - Rest, ice, compression, elevation.
Major factors that drive the growth of the global cold pain therapy market include a rise in the number of musculoskeletal disorders, arthritis, osteoarthritis, joint disorders and others, upsurge in technological advancement that have led to the development of more sophisticated and user-friendly cold pain therapy products. Furthermore, the growing aging population and growing awareness of the potential side effects and risks associated with long-term use of pain medications are the major factors that increase the demand for non-pharmacological pain management and hence propel the growth of the market. In addition, the increase in the number of key market players and the strategies they adopt for the development of technologically advanced cold pain therapy products are the major factors that boost the growth of the cold pain therapy market.
For instance, in March 2023, Aspen Medical Products (Aspen), the industry leader in solutions for mobility and pain management, and NICE Recovery Systems (NICE), a leading provider in the sports and injury recovery space, announced a strategic partnership that aims to bring more precise recovery and pain management solutions to patients and medical professionals. The partnership leverages NICE's advanced cold compression technology with Aspen's effective bracing solutions to deliver pain management and post-operative care to patients recovering from surgery or injury.
However, the growing use of low-priced analgesic pills for immediate pain relief and lack of favorable reimbursement restrain the growth of the cold pain therapy market. On the contrary, the increase in the adoption of analgesic patches is expected to provide lucrative opportunities for the cold pain therapy market to grow during the forecast period.
The cold pain therapy market is segmented into product, application, distribution channel, and region. On the basis of product, the market is bifurcated into OTC products and prescription products. The OTC products are further bifurcated into creams, gels, patches and others and the prescription products are sub-segmented into motorized devices and non-motorized devices. On the basis of application, it is segregated into musculoskeletal disorders, post-operative therapies, sport injuries and post-trauma therapy. On the basis of distribution channel, it is segmented into hospital pharmacies, retail pharmacies and online pharmacies.
Cryotherapy means cold therapy. Cryotherapy can be applied in various ways, including icepacks, coolant sprays, ice massage, and whirlpools, or ice baths. When used to treat injuries at home, cryotherapy refers to cold therapy with ice or gel packs that are usually kept in the freezer until needed. These remain one of the simplest, time-tested remedies for managing pain and swelling.
Cold therapy helps reduce inflammation. It’s most helpful when used for acute injuries and pain. It aids in slowing the rate of reducing tissue damage around a joint or tendon. Cold therapy can numb sore muscle tissue, almost acting as an anesthetic. It has the ability to slow down the pain signals that are transmitted to the brain. Cold compresses are part of a common at-home treatment for standard injuries - RICE - Rest, ice, compression, elevation.
Major factors that drive the growth of the global cold pain therapy market include a rise in the number of musculoskeletal disorders, arthritis, osteoarthritis, joint disorders and others, upsurge in technological advancement that have led to the development of more sophisticated and user-friendly cold pain therapy products. Furthermore, the growing aging population and growing awareness of the potential side effects and risks associated with long-term use of pain medications are the major factors that increase the demand for non-pharmacological pain management and hence propel the growth of the market. In addition, the increase in the number of key market players and the strategies they adopt for the development of technologically advanced cold pain therapy products are the major factors that boost the growth of the cold pain therapy market.
For instance, in March 2023, Aspen Medical Products (Aspen), the industry leader in solutions for mobility and pain management, and NICE Recovery Systems (NICE), a leading provider in the sports and injury recovery space, announced a strategic partnership that aims to bring more precise recovery and pain management solutions to patients and medical professionals. The partnership leverages NICE's advanced cold compression technology with Aspen's effective bracing solutions to deliver pain management and post-operative care to patients recovering from surgery or injury.
However, the growing use of low-priced analgesic pills for immediate pain relief and lack of favorable reimbursement restrain the growth of the cold pain therapy market. On the contrary, the increase in the adoption of analgesic patches is expected to provide lucrative opportunities for the cold pain therapy market to grow during the forecast period.
The cold pain therapy market is segmented into product, application, distribution channel, and region. On the basis of product, the market is bifurcated into OTC products and prescription products. The OTC products are further bifurcated into creams, gels, patches and others and the prescription products are sub-segmented into motorized devices and non-motorized devices. On the basis of application, it is segregated into musculoskeletal disorders, post-operative therapies, sport injuries and post-trauma therapy. On the basis of distribution channel, it is segmented into hospital pharmacies, retail pharmacies and online pharmacies.
On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and Latin America (Brazil, Colombia, Argentina, Rest of LA) and Middle East and Africa (GCC, South Africa, North Africa, Rest of MEA)
The major players profiled in the report are Romsons Group of Industries, Cardinal Health Inc, Sanofi, Breg Inc., Medline Industries LP, Ossur, Hisamitsu Pharmaceutical Inc, Beiersdorf AG, 3M and ThermoTek Inc. The key players such as ThermoTek Inc and Hisamitsu Pharmaceutical Inc have adopted expansion as major developmental strategies to improve the product portfolio
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cold pain therapy market analysis from 2022 to 2032 to identify the prevailing cold pain therapy market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the cold pain therapy market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global cold pain therapy market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Product
- OTC Products
- Type
- Creams
- Gels
- Patches
- Others
- Prescription Products
- Type
- Motorized Devices
- Non Motorized Devices
By Application
- Musculoskeletal Disorders
- Post-Operative Therapy
- Sports Injuries
- Post-Trauma Therapy
By Distribution Channel
- Hospitals Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Colombia
- Argentina
- Rest of Latin America
- Middle East and Africa
- Gcc
- South Africa
- North Africa
- Rest Of Mea
Key Market Players
- Sanofi
- Beiersdorf AG
- 3M Company
- Medline Industries, LP
- Össur
- Romsons Group of Industries Pvt. Ltd.
- Cardinal Health Inc.
- ThermoTek Inc
- Hisamitsu Pharmaceutical Co.,Inc.
- Bruder Healthcare Company LLC
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: COLD PAIN THERAPY MARKET, BY PRODUCT
CHAPTER 5: COLD PAIN THERAPY MARKET, BY APPLICATION
CHAPTER 6: COLD PAIN THERAPY MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: COLD PAIN THERAPY MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Sanofi
- Beiersdorf AG
- 3M Company
- Medline Industries, LP
- Össur
- Romsons Group of Industries Pvt. Ltd.
- Cardinal Health Inc.
- ThermoTek Inc
- Hisamitsu Pharmaceutical Co.,Inc.
- Bruder Healthcare Company LLC
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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