The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Cold Pain Therapy Global Market Report 2024, the cold pain therapy market is expected to show promising growth in the forecast period.

The cold pain therapy market has experienced robust growth, reaching $1.66 billion in 2023, and is projected to reach $1.79 billion in 2024, boasting a compound annual growth rate (CAGR) of 7.4%. Looking ahead, the market is poised for further expansion, with expectations to soar to $2.36 billion by 2028 at a CAGR of 7.2%. This upward trajectory can be attributed to various factors, including the rise in sports injuries, chronic pain management, post-surgery recovery, orthopedic applications, fitness, and rehabilitation.

Driving Forces Behind Market Expansion

1. Road Accidents Catalyst Fueling The Surge In Cold Pain Therapy Market Demand

• The global increase in road accidents is a significant driver for the cold pain therapy market.
• Non-invasive and accessible cold pain therapy products gain prominence for pain alleviation and recovery.
• French Road Safety Observatory reported 53.5 thousand injury traffic accidents last year, underlining the pressing need for such therapies.

2. Technological Advancements Paving The Way In The Cold Pain Therapy Market

• Technological innovation emerges as a key trend in the market.
• Companies strive to gain a competitive edge through cutting-edge advancements.
• Example: Jenburkt Wellness introduced Zixa Strong, a fast-acting pain relief range, incorporating innovative oil-in-water flash micelle technology.

3. Havencrest Capital Management Acquires Thermotek Inc To Enhance Product Portfolio

• In October 2022, Havencrest Capital Management acquired ThermoTek Inc., a move aimed at expanding product offerings.
• The acquisition showcases the importance of strategic partnerships in enhancing market presence.

View More On The Cold Pain Therapy Market Report 2024 – https://www.thebusinessresearchcompany.com/report/cold-pain-therapy-global-market-report

Market Players and Segmentation

1. Major Companies in the Cold Pain Therapy Market

• Unexo Lifesciences Pvt. Ltd., Össur Corporate, Hisamitsu Pharmaceutical Co. Inc., Johnson & Johnson, Pfizer Inc., Sanofi S.A., Rohto Pharmaceutical Co. Ltd., and more.
• Diverse players reflect the competitive landscape and continuous efforts to cater to evolving market needs.

2. Segmentation of the Cold Pain Therapy Market

• By Product: OTC Products, Prescription Products
• By Distribution Channel: Retail Pharmacies, Hospital Pharmacies, E-Pharmacies
• By Application: Musculoskeletal Disorders, Post-operative Therapy, Sports Injuries, Post-trauma Therapy
• Segmentation provides insights into the varied applications and channels driving market growth.

Regional Dominance
North America emerged as the largest region in the cold pain therapy market in 2023, highlighting the region’s significant share in market revenue. The thriving market in North America is indicative of the growing awareness and adoption of cold pain therapy solutions.

Future Outlook and Trends

• The forecast period predicts continued growth, fueled by professional endorsements, innovative marketing strategies, digital health adoption, and a supportive regulatory environment.
• Emerging trends include a heightened focus on sports and fitness, a shift towards non-pharmacological methods, and a preference for at-home treatment.

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