Cold Pain Therapy Market Size, Share, And Growth Rate Analysis 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s cold pain therapy market report forecasts the cold pain therapy market size to grow to $2.09 Billion by 2027, with a CAGR (compound annual growth rate) of more than 6%.
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Cold Pain Therapy Market Size Forecast
The global cold pain therapy market is expected to grow from $1.55 billion in 2022 to $1.65 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cold pain therapy market is expected to grow to $2.09 billion in 2027 at a CAGR of 6.1%.
North America held the largest cold pain therapy market share.
Key Cold Pain Therapy Market Driver – Increase In The Importance Of Gym Activities
According to the Australia Bureau of Statistics, a government agency responsible for statistical collection and analysis, in March 2022, 73.4% of adults aged 18 to 64 in Australia engaged in 150 minutes or more of physical activity on a regular basis, increasing the risk of muscle and tendon injuries. As a result of the growing popularity of gym activities, the cold pain therapy market will grow.
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Key Cold Pain Therapy Market Trend – Technological Advancement
To gain a competitive advantage in the cold pain therapy market, major companies are attempting to incorporate new technological advancements into their product offerings. Jenburkt Wellness, an India-based company specialising in cold pain therapy, unveiled Zixa Strong, an innovative fast-acting pain relief range, in April 2022. This entails cutting-edge oil-in-water flash micelle technology, a combination of ultra-rapid mixing techniques, and a singularly powerful approach to modifying the structure with oil-based formulations that improve therapeutic efficacy.
Cold Pain Therapy Market Segment
1) By Product: OTC Products, Prescription Products
2) By Distribution Channel: Retail Pharmacies, Hospital Pharmacies, E- Pharmacies
3) By Application: Musculoskeletal Disorders, Post-operative Therapy, Sports Injuries, Post-trauma Therapy
Cold Pain Therapy Market Major Players and Strategies
Major players in the cold pain therapy market are Unexo Lifesciences Pvt. Ltd., Össur Corporate, Hisamitsu Pharmaceutical Co., Inc., Johnson & Johnson, Pfizer Inc., Sanofi S.A., Rohto Pharmaceutical Co., Ltd., 3M, Cardinal Health Inc., Compass Health Brands, Breg Inc., Medline Industries, Performance Health, Romsons Group of Industries, Beiersdorf AG, and DJO Global Inc.
Havencrest Capital Management, a healthcare private equity firm based in the United States, paid an undisclosed sum for ThermoTek Inc. in October 2022. Havencrest intends to broaden ThermoTek’s product offering through this acquisition by leveraging its elite network of operating partners and senior advisors. ThermoTek Inc. is a temperature management device manufacturer based in the United States.
The Cold Pain Therapy Global Market Report 2023 covers regional data on cold pain therapy market size, cold pain therapy market trends and drivers, opportunities, strategies, and cold pain therapy market competitor analysis. The countries covered in the cold pain therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Cold pain therapy is a treatment that effectively reduces inflammation and swelling. The primary goal is to treat pain-causing injuries by lowering the temperature at the surface of the affected area. It aids in the slowing of tissue damage around a joint or tendon.
View More Reports Related To The Cold Pain Therapy Market –
Pain Management Devices And Therapies Global Market Report 2023
Patient Monitoring Devices Global Market Report 2023
Patient Handling Equipment Global Market Report 2023
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