Cold Pain Therapy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Cold Pain Therapy Market is segmented by Product (OTC (Creams, Gels, Patches, and Others) and Prescription Products (Pharmaceuticals and Medical Devices)), Application (Sports Medicine, Post Operative Therapies, Trauma and Orthopedic, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.

Cold Pain Therapy Market Size

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Cold Pain Therapy Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.50 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Cold Pain Therapy Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Cold Pain Therapy Market Analysis

The cold pain therapy market is projected to witness a CAGR of 4.5% over the forecast period.

The pandemic had an adverse effect on the market initially due to the reduction in the number of soft tissue repair procedures due to lockdown restrictions and supply chain disruptions. For instance, according to an article published in Clinics in Sports Medicine Journal in January 2021, during the early periods of the pandemic, restrictions on participation in sports and on performing elective surgeries left institutions with financial deficits or on the brink of bankruptcy. Despite pandemic restrictions, the number of road accidents was high during the pandemic. The patients were asked to take the cold therapy at home and directed through various telemedicine platforms. However, the market recovered since the restrictions were lifted. COVID-19 has no impact on the cold pain therapy market in the current scenario and is expected to register a stable growth rate during the forecast period.

The increasing cases of injuries related to sports and the adoption of quick pain-relieving technologies are expected to propel the market growth. For instance, a research study published in April 2022 in PubMed included 1,267 patients with a total of 1,341 hand fractures. They represented 29.7% of all upper limb fractures and 7.6% of all traumatological emergencies involving bone fractures. The study predicted the global incidence rate was 99 fractures per 100,000 persons/year. Thus, the high prevalence of bone injuries is expected to use cold pain therapy and thereby accelerating the growth of the market.

Additionally, the rising number of road accidents creates a demand for cold therapy since it constricts the blood vessels, reducing inflammation and swelling, thereby propelling the market growth. For instance, as per the Road Accidents in India report, the number of traffic accidents in the country increased to 422.7 thousand last year. Also, according to the French Road Safety Observatory (ONISR) 2023 update, there were 53.5 thousand injury traffic accidents and 67 thousand injured people during the accident in mainland France last year. The high burden of road accidents and increasing injury and trauma are boosting the market growth.

Furthermore, the strategic initiatives adopted by market players, such as technological advancements, product launches, and approvals, along with partnerships to expand the cold therapy offerings, contribute significantly to the market growth. For instance, in February 2021, Breg Inc. partnered with Club Warehouse, an Australian distributor, to expand the delivery of its premium, high-value orthopedic products in the Australian market, including cold pain therapy products. Such partnerships are expected to propel market growth during the forecast period.

Therefore, owing to the factors such as the high burden of injuries due to sports and road accidents and rising partnerships among market players, the studied market is anticipated to witness growth over the analysis period. However, the lack of awareness regarding cold therapy and the lack of reimbursement policies for cold pain therapy is estimated to restrain the market growth.

Cold Pain Therapy Market Trends

The Sports Medicine Segment Holds Majority of the Market Share Over The Forecast Period

The segment is expected to grow during the forecast period owing to the high burden of sports injury worldwide and rising product launches during the forecast period.

According to an article published in the National Center for Biotechnology Information in August 2022, injuries to the myofascial and skin in competitive sports were an important cause of hospitalization and care. The hospitalization rates often vary depending on the anatomical area involved and the sport practiced; hamstring injuries represent about 39% of all sports injuries, and groin injuries represent about 10-43% of the athletes involved in ice hockey.

Additionally, the same source stated that overuse injury is a common sports injury that can lead to partial or complete tissue injury or create a chronic inflammatory environment, such as plantar fasciitis or pain that is not always clear to define clinically. With the increase in soft-tissue injuries, the demand for repair procedures such as instrument-assisted soft-tissue mobilization is also increasing. Thus, the increasing prevalence of sports-related soft tissue injuries is expected to boost the adoption of cold pain therapy in sports medicine procedures during the forecast period of the study.

Furthermore, according to an article published in the World Journal of Emergency Medicine in 2022, a study was conducted in China during the Beijing Olympics 2022, which showed that an estimated 2,897 athletes from 91 countries experienced sports-related injuries or illness. The Olympic's medical staff reported 326 injuries and 80 illnesses, equaling 11.3 injuries and 2.8 illnesses per 100 athletes over the 17-day period during the Olympics. Altogether, 11% of the athletes incurred at least one injury, and nearly 3% incurred at least one illness.

The partnership and launches by market players also contribute to the segment's growth. For instance, in May 2021, Mueller Sports Medicine partnered with Zenith Technical Innovations to provide Therm-X, an all-in-one portable device that provides cold, compression, and contrast therapy for athletic trainers and sports therapists.

Therefore, owing to the aforesaid factors, the segment is expected to register a significant growth rate during the forecast period.

Cold Pain Therapy Market: Number of Sports Injuries (in Thousand), By Type, United States, 2021

North America is Expected to Hold a Significant Market Share Over The Forecast Period

According to the data published by the National Safety Council of the United States in 2021, it was estimated that around 3.2 million people were treated in emergency departments for injuries involving sports and recreational equipment in the United States that year. The most common activities that were frequently associated with injuries were exercise, cycling, and basketball. The injury rate for exercise was 123.8 per 100,000 population in the United States last year; for bicycles and accessories, it was 113.7; for basketball, it was 78.6; for skateboards, scooters, and hoverboards, it was 74.2; and for football, it was 67.2.

Furthermore, according to an article published by the University of Bath in September 2022, a study was conducted in Canada which showed a high rate of injuries among collision sport participants in Canadian high schools. According to the same source, the rates of injuries ranged from 12.7 injuries per 100 participants every year in rugby to 33.1 injuries per 100 participants every year in ice hockey. The prevalence rate for injuries to the head was 33.3%; for the wrist or hand, it was 16.0%; for the shoulder, it was 12.8%; and for the knee, it was 12.0%.

Additionally, innovative launches and partnerships by market players are expected to propel market growth in the region during the forecast period. For instance, in January 2022, the Rock 'n' Roll Running Series entered into a multi-year partnership with Biofreeze, a Reckitt brand. The new partnership will feature Biofreeze as the Official External Pain Relief Partner of the series and of each Rock 'n' Roll Running Series event in the United States. Also, in April 2021, Battle Creek Equipment Co. launched a line of cold therapy wraps into the market to help treat chronic pain, acute pain, and engagement of inflammation.

Therefore, owing to the factors such as the high burden of road accidents and sports injuries and rising product launches by market players, the growth of the studied market is anticipated in the North American Region.

Cold Pain Therapy Market - Growth Rate by Region

Cold Pain Therapy Industry Overview

The cold pain therapy market is slightly fragmented in nature, with several market players. There are well-established market players that are gaining momentum by utilizing e-commerce and expanding into new regions. Some of the companies which are currently dominating the market are Breg Inc., Cardinal Health Inc., DJO Global Inc., and Össur hf, among others.

Cold Pain Therapy Market Leaders

  1. Breg Inc.

  2. Brownmed Inc.

  3. DJO Global Inc.

  4. Össur hf

  5. Cardinal Health Inc.

*Disclaimer: Major Players sorted in no particular order

Cold Pain Therapy Market Concentration
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Cold Pain Therapy Market News

  • Apr 2022: The Food and Drug Administration approved Enjaymo (sutimlimab-jome) infusion to decrease the need for red blood cell transfusion due to hemolysis (red blood cell destruction) in adults with cold agglutinin disease (CAD).
  • Apr 2022: Zixa Strong launched an innovative oil-in-water FlashMicelle Technology with a dual-action composition for fast relief from intense pain.

Cold Pain Therapy Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Number of Road Accidents and Sports-related Injuries

      2. 4.2.2 Increasing Geriatric Population and Adaptation of Cold Therapy Products

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Awareness Regarding Cold Therapy

      2. 4.3.2 Lack of Reimbursement Policies For Cold Pain Therapy

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 5.1 By Product

      1. 5.1.1 OTC Products

        1. 5.1.1.1 Creams

        2. 5.1.1.2 Gels

        3. 5.1.1.3 Patches

        4. 5.1.1.4 Other OTC Products

      2. 5.1.2 Prescription Products

        1. 5.1.2.1 Pharmaceuticals

        2. 5.1.2.2 Medical Devices

    2. 5.2 By Application

      1. 5.2.1 Sports Medicine

      2. 5.2.2 Post Operative Therapies

      3. 5.2.3 Trauma and Orthopaedic

      4. 5.2.4 Other Applications

    3. 5.3 By Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Breg Inc.

      2. 6.1.2 Brownmed Inc.

      3. 6.1.3 Cardinal Health Inc.

      4. 6.1.4 DJO Global Inc.

      5. 6.1.5 Össur hf

      6. 6.1.6 Performance Health

      7. 6.1.7 Medline Industries Inc.

      8. 6.1.8 IceWraps

      9. 6.1.9 Compass Health

      10. 6.1.10 Hisamitsu Pharmaceutical Co. Inc.

      11. 6.1.11 Romsons

      12. 6.1.12 Unexo Life Sciences Pvt. Ltd

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments
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Cold Pain Therapy Industry Segmentation

As per the scope of the report, cold pain therapy is using the cold to relieve the pain caused by injuries or other causes. The products range from pharmaceuticals, medical devices, and OTC. Cold pain therapy is primarily used on fresh injuries, such as ligament sprains, muscle sprains, and severe bruises. This therapy is used for chronic overuse or tissue fatigue injuries, such as tennis elbow, supraspinatus tendinitis, iliotibial band syndrome, patellofemoral pain syndrome, and many others. 

The Cold Pain Therapy Market is Segmented by Product (OTC (Creams, Gels, Patches, and Others) and Prescription Products (Pharmaceuticals and Medical Devices)), Application (Sports Medicine, Post Operative Therapies, Trauma and Orthopedic, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.  

By Product
OTC Products
Creams
Gels
Patches
Other OTC Products
Prescription Products
Pharmaceuticals
Medical Devices
By Application
Sports Medicine
Post Operative Therapies
Trauma and Orthopaedic
Other Applications
By Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America
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Cold Pain Therapy Market Research FAQs

The Cold Pain Therapy Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)

Breg Inc., Brownmed Inc., DJO Global Inc., Össur hf and Cardinal Health Inc. are the major companies operating in the Cold Pain Therapy Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Cold Pain Therapy Market.

The report covers the Cold Pain Therapy Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Cold Pain Therapy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Cold Pain Therapy Industry Report

Statistics for the 2023 Cold Pain Therapy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cold Pain Therapy analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Cold Pain Therapy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)