Cold Pain Therapy Market: Future Growth and Opportunities Revealed by Techsci Research

According to TechSci Research report, “Cold Pain Therapy Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the global cold pain therapy market is anticipated to grow at a fast rate during the forecast period, 2024-2028. This can be ascribed to the increasing research and development activities in cold pain therapies, advance technology used in cold pain therapy device and rise in emphasis on exercise and gym activities to maintain health, growth in health care expenditure due to physical injuries caused by obesity or lack of activity and stringent regulatory approval process for oral pain medicines are the major factors expected to drive the cold pain therapy market during the forecast period.

However, due to the lack of awareness about new cold pain therapies for pain management among patient and healthcare providers, availability of low-priced generic versions of drugs and increasing health concerns are contributing to the high usage of analgesic pills which cause a high adoption of OTC drugs by customers in emerging nations, is expected to hampering the market growth during the forecast period. Similarly, lack of reimbursement procedure, clinical evidence for the medication of cold pain therapy, side effects, and discomfort associated with the treatment will hamper the market growth during the forecast period.

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The global cold pain therapy market is segmented on the basis of product, application, distribution channel, and region.

Based on product, the global cold pain therapy market can be divided into OTC products and prescription products. The OTC product is expected to dominate the market during the forecast period owing to easy availability of these products in both retail as well as online stores, increased affordability of gels, creams, and sprays, availability of a wide range of OTC products, such as gels, creams, foams, sprays, roll-ons, patches, cold packs, wraps, and pads, among others. However, increasing number of sport and fitness activities across the world and increasing research and development activity regarding cold pain therapy is expected to propel market growth during the forecast period.

Based on region, the global cold pain therapy market is further divided into North America, Asia Pacific, Europe, South America, Middle East & Africa. Asia Pacific dominated the market in 2022 and maintain its dominance throughout the forecast period. However, increasing the use of these product in sports and fitness field, increasing sports injuries, increasing uses of generic drugs is expected to boost the cold pain therapy market during the forecast period.

Major companies operating in global cold pain therapy market are:

• Hisamitsu Pharmaceutical CO., Inc.
• 3M Company
• Johnson & Johnson
• Hisamitsu Pharmaceutical Co., Inc.
• Pfizer Inc.
• DeRoyal Industries, Inc.
• Sanofi SA
• Beiersdorf AG
• Össur hf.
• Cardinal Health Inc.

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“North America is expected to register the highest growth in the global cold pain therapy market owing to increasing awareness and availability of advanced product technologies including non-motorized and motorized cold pain therapy devices, growing aging population and availability of a large pool of patients with back pain and other injuries. Similarly, increasing number of road accidents, growing presence of key players to develop the new cold pain therapy devices and development of well-established hospitals and clinics in the urban region and availability of skilled medical professionals who specialize in these treatments is further expected to support the market growth. Moreover, favorable government policies and easy approval of drugs and medications is expected to drive the global cold pain therapy market during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Cold Pain Therapy Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Product (OTC Products v/s Prescription Products), By Application (Musculoskeletal Disorders, Post-Operative Therapy, Sport Injuries, Others), By Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies), and By Region”, has evaluated the future growth potential of global cold pain therapy market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global cold pain therapy market.

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About TechSci Research:

TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.

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