North America is expected to hold the largest share of the market due to the high prevalence of injuries and the growing adoption of cold pain therapy among athletes.

Hyderabad, Telangana -- (SBWire) -- 02/20/2023 --Cold Pain Therapy Market

Cold Pain Therapy, also known as Cryotherapy, is a pain management technique that uses cold temperatures to reduce pain and inflammation. Cold therapy is an effective way to reduce pain and inflammation caused by injuries, surgeries, and chronic conditions like arthritis. The cold temperature helps to reduce blood flow to the affected area, which can help to reduce swelling and pain. The market is driven by the increasing prevalence of sports injuries, rising geriatric population, and the growing adoption of cold pain therapy among athletes. The demand for cold pain therapy products is expected to increase due to the rising incidence of injuries and the growing awareness about the benefits of cold therapy.

Market Size and Future Apprehension:

According to the research report published by USD Analytics, the global "Cold Pain Therapy Market" is expected to grow at a CAGR of 5.5% during the forecast period 2023-2030.

Market Drivers:

The increasing prevalence of injuries and chronic conditions like arthritis is driving the growth of the Cold Pain Therapy Market. The rising geriatric population is also a major driver of the market, as older people are more susceptible to musculoskeletal disorders and other conditions that can benefit from cold therapy.
The growing adoption of cold pain therapy among athletes is also driving the market, as athletes are increasingly using cold therapy to reduce the risk of injuries and speed up recovery time. In addition, the increasing awareness about the benefits of cold therapy is expected to drive the market, as more people become aware of the effectiveness of this pain management technique.

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Market Challenges:

Despite the growth potential of the Cold Pain Therapy Market, there are several challenges that the market faces. One of the major challenges is the lack of reimbursement policies for cold pain therapy. This makes it difficult for patients to afford the treatment, especially those with chronic conditions that require long-term therapy.

Market Opportunities:

The Cold Pain Therapy Market also presents several opportunities for growth. One of the major opportunities is the rising demand for non-invasive and drug-free pain management techniques. Cold therapy provides a non-invasive and drug-free alternative to traditional pain management techniques, which can attract more patients seeking natural treatments.

The growing trend of home healthcare and self-care is also an opportunity for the market. With the increasing availability of cold therapy products for home use, patients can manage their pain at home without the need for frequent visits to healthcare facilities. This can reduce healthcare costs and improve patient outcomes.
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Segmentation Analysis:

The Cold Pain Therapy Market is segmented by Product, Application, Therapy, Distribution Channel

By Application:

Runner's Knee
Tendonitis
Sprains/Sports Sprain
Arthritis Pain
Pain and Swelling After Hip or Knee Replacement
Pain or Swelling Under Cast or Splint
Surgery Recovery
Lower Back Pain
Others

By Offering:

Over-the-Counter
Prescription Products
Rehabilitation Exercises
Ice Wrap and Cold Packs
Compression Therapy
Ice Buckets without Compression
Others

By End User:

Hospitals
Clinics
Rehabilitation Centers
Ambulatory Surgical Centers
Individuals
Others

Based on Application:

Based on applications, the market can be segmented into musculoskeletal disorders, post-operative therapy, sports medicine, and others. The musculoskeletal disorders segment is expected to hold the largest share of the market due to the high prevalence of these conditions.

Based on Distribution Channel:

Based on end-users, the market can be divided into hospitals, retail pharmacies. The hospitals segment is expected to hold the largest share of the market due to the high patient inflow and the availability of advanced medical facilities.

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Competitive Landscape:

The major companies in the Cold Pain Therapy Market are
- Pfizer,
- Sanofi,
- Hisamitsu Pharmaceutical,
- Johnson and Johnson,
- Medline Industries,
- Performance Health,
- Rohto Pharmaceutical,
- Romsons Group of Industries,
- Össur,
- Unexo Life Sciences.

Regional Analysis:

Based on regions, the market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to hold the largest share of the market due to the high prevalence of injuries and the growing adoption of cold pain therapy among athletes.

Recent Developments:
- In August 2021, Bioventus launched its EXOGEN Ultrasound Bone Healing System in the UK, a non-invasive and drug-free treatment for bone fractures.
- In April 2021, 3M Company announced the launch of its new range of Nexcare Cold and Hot Therapy Products in the US, including reusable gel packs, hot water bottles, and cold packs.
- In March 2021, Össur hf acquired the US-based company, LiteCure LLC, a leader in therapeutic laser technology, to expand its product portfolio and strengthen its position in the cold pain therapy market.

About USD Analytics:
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