Market Trends of Cold Pain Therapy Industry
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.
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.
