Cold Pain Therapy Market Scope
Cold pain therapy, a therapeutic application of cold that includes the usage of cold materials in the treatment of acute soft tissue injuries and to reduce the pain in post-operative condition in orthopaedic surgeries. The surging prevalence of prostate, cervical cancer, skin and other and increasing rate of accidental and sports injuries are the fuelling the growth of the cold pain therapy market across the globe.
According to AMA, the Global Cold Pain Therapy market is expected to see growth rate of 4.5% and may see market size of USD2.4 Billion by 2026.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Cold Pain Therapy market throughout the predicted period.
Sanofi (France), DJO Finance (United States), Pfizer (United States), 3M (United States), Hisamitsu Pharmaceutical (Japan), Johnson & Johnson (United States), Medline Industries (United States), Össur (Iceland), Performance Health (United States), Beiersdorf (Germany) and Rohto Pharmaceutical (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Breg (United States), Romsons Group of Industries (India), Custom Ice (United States) and Unexo Life Sciences (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Cold Pain Therapy market by Type (OTC-Based Products and Prescription-Based Products), by Application (Musculoskeletal Disorders, Sport Medicine, Physical Therapy, Post Operative Therapy and Post-Trauma) and Region with country level break-up.
On the basis of geography, the market of Cold Pain Therapy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Trend
- Growing Adoption of Analgesic Patches
- Increasing Number of Hip and Knee Surgeries Across the Globe
Market Drivers
- Increasing Incidence of Sports Injuries and Rising Emphasis on Exercise and Gym Activities
- Growing Need for Safer Pain Management Modalities as Opposed to Oral Drug Therapy
- Clinical Evidence in Favour of Menthol-Based Topical Analgesics
Opportunities
- Aging Population Sensitive to Traumatic Injuries
- Growing Awareness Among Consumers Owing to Promotional Marketing Strategies
- Growing Use of Cold Pain Therapy Among Middle-Aged Women
- Increasing Regulatory Barriers for Oral Pain Medications
Restraints
- High Usage of Low-Priced Analgesic Pills for Immediate Pain Relief
- Lack of Substantial Clinical Evidence in Favor of Cold Pain Therapy
- Health Hazards and Discomfort Associated With Cold Pain Therapy Products
Challenges
- Lack of Reimbursement
- Availability of Alternative Non-Drug/Device Pain Management Therapies
- Stringent Regulations on Ammonium Nitrate Usage
Key Target Audience
Cold pain therapy product manufacturers, Healthcare service providers, Distributors and suppliers, Research laboratories and academic institutes, Original equipment manufacturers (OEMs) and Market research companies