Cold Pain Therapy Market: Drivers, Demand, Revenue, Status, Growth, Opportunities, Outlook and Competitive Landscape

[Gauri Deshpande]

Cold Pain Therapy Market by Product (OTC (Gels, Creams, Patches, Wraps, Pads), Prescription Devices (Motorized, Non-Motorized), Applications (Musculoskeletal, Post Op, Sports Medicine), Distribution Channel(Hospital, Retail) – Global Forecasts to 2025 The global cold pain therapy market size is projected to reach USD 2.0 billion by 2025 from USD 1.6 billion in 2020, at a CAGR of 4.4% during the forecast period.

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Factors such as increasing prevalence of arthritis and the rising number of sports injuries are the key factors boosting the demand for cold pain therapy products for the management of pain. Moreover, growing awareness about the availability of cost-effective cooling pain relief products and the ease of application of cold pain therapy products are anticipated to accelerate the adoption of these products in the coming years. However, presence of alternate pain relief products / therapies in the market are likely to hamper the growth of this market.

The major players operating in the cold pain therapy market are Sanofi (France), Pfizer (US), Hisamitsu Pharmaceutical (Japan), ROHTO Pharmaceutical (Japan), Beiersdorf (Germany), Johnson & Johnson (US), Medline Industries (US), Össur (Iceland), Performance Health (US), Breg (US), Romsons Group of Industries (India), Unexo Life Sciences (India), and Bird & Cronin (US).

The recent COVID-19 global pandemic has also impacted the cold pain therapy market. Amid covid pandemic, the reduced access to hospital and retail pharmacies, orthopedic clinics and rehabilitation centers effected the sales growth of the cold therapy products. However, post lockdown the improved access to cold therapy devices through online platforms and the growing number of patients opting for self-medication with over-the-counter cold therapy products including cold gel packs, ointments, and cold sprays, for pain management are some of the key factors likely to drive the long-term growth of the cold pain therapy market.

“The OTC products segment to witness the highest growth rate in cold pain therapy market, by product, during the forecast period.”

The OTC products segment is expected to witness the highest growth rate during the forecast period. The high growth in this owes to the high prevalence of arthritis and other skeletal diorders and growing patient awareness about the availability OTC products easily to be used at home.

“The musculoskeletal disorders segment accounted for the largest share of the cold pain therapy market, by application, in 2020.”

The latetal flow assays segment accounted for the largest share of the cold pain therapy market in 2020. The rise in the global prevalence of musculoskeletal disorders such as osteoarthritis, back and neck pain , growing geriatric patient population and influx of wide range of cold therapy products for musculoskeletal disorders are some of the factors anticipated to boost the segment growth in the coming years.

“The retail pharmacies segment accounted for the largest share of the cold pain therapy , by distribution channel, in 2020”

The presence of different types of cold therapy products in the retail pharamcies has played a critical role in expanding the reach to different customers. Moreover, ongoing collaborations of retail pharmacies with e-commerec marketplayers and the empahzaing on offering consulting servies to the patients are expected to some of the key factors anticipated to fuel the growth of the segment in the coming years.

“The Asia Pacific market to grow at the highest CAGR during the forecast period.”

The cold pain therapy market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Increase in the adoption of cold therapy products, increasing healthcare expenditures, increasing number of retail and hospital pharamcies in India and China, and growing collaborations among players in the region are also expected to drive pount of care diagnostics market growth in Aisa Pacific.

Breakdown of supply-side primary interviews:

By Company Type: Tier 1: 25%, Tier 2: 30%, and Tier 3: 45%
By Designation: C-level: 26%, D-level: 30%, and Others: 44%
By Region: North America: 40%, Europe: 31%, APAC: 20%, Latin America: 6%, and the Middle East & Africa: 3%
Research Coverage

This report studies the cold pain therapy market based on the product, application, distribution challenge, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five major regions (and the respective countries in these regions).

Key Benefits of Buying the Report

This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the cold pain therapy market, and high-growth regions and their drivers, restraints, opportunities, and challenges. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.

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