The global Cold Pain Therapy Market size is expected to reach USD 2.3 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 4.9%. Rising incidence of orthopedic diseases has led to high growth of the market. CDC estimated that nearly 78 million people in the U.S., aged 18 years or above, are expected to be diagnosed with arthritis by 2040.
Rising number of road accidents and traumatic injuries is
leading to a high growth of the market. According to WHO data, every year
nearly 10 million people suffer injuries in road accidents or incur a
disability as a result of injuries in head, chest, arms, and legs. Thus, with
the increasing number of road accidents, the demand for therapy products for
pain management is rising. Increasing number of sports injuries also play a
pivotal role in the rising demand for these products. The most common types of
sport injuries are dislocated joints, muscle sprains & strains, tear of
ligaments & tendons that hold the joints together, and fractured bones,
including the vertebrae.
Geriatric population is a significant target population
driving the market. Countries such as Germany and China have high geriatric
population base. This factor is contributing to market growth. According to
CDC, 1 in every 4 adults are affected by osteoarthritis. Thus, rising geriatric
population is expected to increase the demand for cold pain therapy products.
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Cold Pain Therapy Market Report Highlights
- OTC products dominated the market in 2018 due to affordability and
easy availability of products such as creams, gels, sprays, and roll-ons
- Orthopedic conditions held a significant market share in 2018 owing
to rising prevalence of various musculoskeletal and joint disorders, such
as osteoarthritis
- The sports medicine segment is expected to witness a significant
growth during the forecast period due to increasing number of
sport-related injuries
- Retail pharmacies accounted for a considerable revenue share in
2018, owing to increase in their demand due to easy availability of
products
- Among all distribution channels, e-commerce is expected to grow at
the highest CAGR during the forecast period, owing to lucrative offers and
discounts available online
- North America dominated the cold pain therapy market in 2018 due to
factors such as an increase in the prevalence of orthopedic disorders and
presence of key market players in the region
- Asia Pacific is likely to grow at a high rate over the forecast
period due to rising geriatric population, coupled with growing healthcare
awareness in the region
- Some of the major companies in the market are Beiersdorf; Breg,
Inc.; DJO Global; Hisamitsu Pharmaceutical Co., Inc.; Johnson &
Johnson; and Össur Corporate.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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