The global Cold Pain Therapy market size is expected to be worth around US$ 2.6 billion by 2028, according to a new report by Vision Research Reports.
The global Cold Pain Therapy market size was valued at US$ 1.10 billion in 2020 and is anticipated to grow at a CAGR of 4.12% during forecast period 2021 to 2028.
Rising incidence of orthopedic diseases has led to high growth of the market. CDC estimated that nearly 78 million people in the U.S., aged 18 years or above, are expected to be diagnosed with arthritis by 2040.
Rising number of road accidents and traumatic injuries is leading to a high growth of the market. According to WHO data, every year nearly 10 million people suffer injuries in road accidents or incur a disability as a result of injuries in head, chest, arms, and legs. Thus, with the increasing number of road accidents, the demand for therapy products for pain management is rising. Increasing number of sports injuries also play a pivotal role in the rising demand for these products. The most common types of sport injuries are dislocated joints, muscle sprains & strains, tear of ligaments & tendons that hold the joints together, and fractured bones, including the vertebrae.
Geriatric population is a significant target population driving the market. Countries such as Germany and China have high geriatric population base. This factor is contributing to market growth. According to CDC, 1 in every 4 adults are affected by osteoarthritis. Thus, rising geriatric population is expected to increase the demand for cold pain therapy products.
Among all products, OTC products held the largest share in 2020. This is primarily due to the easy availability of these products in both retail as well as online stores. In addition, increased affordability of gels, creams, and sprays is driving the segment growth. Moreover, this segment is expected to witness significant growth over the forecast period due to the availability of a wide range of OTC products, such as gels, creams, foams, sprays, roll-ons, patches, cold packs, wraps, and pads, among others. These products also act as rapid healing solutions for various pain-related disorders.
Among all applications, orthopedic conditions held the largest market share in 2020 due to the rising prevalence of various orthopedic diseases such as musculoskeletal disorders, arthritis, osteoarthritis, and joint disorders, among others. According to the Arthritis Foundation, osteoarthritis is the most common type of arthritis. WHO anticipated that about 130 million people worldwide are expected to develop osteoarthritis by 2050.
The sports medicine segment is expected to grow at a significant rate during the forecast period due to rising number of sports-related injuries. According to the Southwest Athletic Trainer’s Association, 62% of organized sports-related injuries occur during practices. In addition, key players are increasingly manufacturing a variety of products specifically designed for people who incurred sports-related injuries. Moreover, post-trauma held the largest share of the market in 2018 due to the increasing incidence of traumatic injuries. An increasing number of road accidents is driving the growth of this segment.
Among all distribution channels, retail pharmacy held the largest share of the market in 2020 due to the easy availability of a wide range of products. In addition, the rising number of retail pharmacies in both developed, as well as developing countries, has led to high growth of this segment. Topical products are widely available in retail pharmacies. This is expected to drive the growth of the segment.
The e-commerce segment is expected to witness significant growth over the forecast period due to the rising convenience in choosing from websites that offer a range of products, along with detailed product information. Moreover, lucrative offers and discounts available on different websites are driving the growth of this segment. Thus, the rise in e-commerce positively impacts market growth by facilitating consumers to purchase products at their convenience.
North America dominated the global market due to factors such as a rise in the prevalence of orthopedic diseases, coupled with the high adoption of advanced devices in the region. Increasing the geriatric and obese population is expected to result in a growing prevalence of osteoporosis in the U.S. In addition, the presence of key players with wide distribution networks is expected to drive growth in North America.
The market in Asia Pacific is expected to grow at a significant rate over the forecast period. This can be attributed to developing economies and growing healthcare awareness in the region. Osteoarthritis and other orthopedic problems are aging-related diseases and mostly occur among people aged 60 & above. Thus, increasing aging population and rising demand for pain management treatments are driving growth in Asia Pacific.
Beiersdorf; Breg, Inc.; DJO Global; Hisamitsu Pharmaceutical Co., Inc.; Johnson & Johnson; ÖssurCorporate; Performance Health; Pfizer, Inc.; DeRoyal Industries, Inc.; and Romsons Group of Industries.
Gels, Ointments, & Creams
Sprays & Foams
Distribution Channel Outlook
The Cold Pain Therapy market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Cold Pain Therapy market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Cold Pain Therapy market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Cold Pain Therapy market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Cold Pain Therapy market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Cold Pain Therapy capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Cold Pain Therapy by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Cold Pain Therapy market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Cold Pain Therapy market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Cold Pain Therapy market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Cold Pain Therapy industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Cold Pain Therapy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Cold Pain Therapy market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Cold Pain Therapy market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Cold Pain Therapy market. These factors have benefited the growth of the global market for Cold Pain Therapy. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Cold Pain Therapy. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Cold Pain Therapy are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Exoskeleton Market (By Mobility: Mobile, Fixed/Stationary; By Technology: Powered, Non-powered; By Extremity: Upper Body, Lower Body, Full Body; By End-use: Healthcare, Military, Industry) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030Read more...
Pulmonary Arterial Hypertension Market (By Drug Class: Endothelin Receptor Antagonists (ERAs), PDE-5 Inhibitors, Prostacyclin and Prostacyclin Analogs, SGC Stimulators; By Type: Branded, Generics; By Route of Administration: Oral, Intravenous/ subcutaneous, Inhalational) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030Read more...
Mechanical Ventilator Market (By Product: Critical Care, Neonatal, Transport & Portable; By Ventilation Mode: Invasive, Non-invasive; By End-use: Hospitals, Home Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030Read more...
Surgical display Market (By Type: Low-end, Mid-end, High-end) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030Read more...
Agrochemicals Market (By Product: Fertilizer, Crop Protection Chemicals, Plant Growth Regulators; By Application: Cereal & Grains, Oilseeds & Pulses, Fruits & Vegetables) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030Read more...