Cold Pain Therapy Market Analyzed Globally by Top Key Players, Trends, Share, Growth Rate and Forecast

According to the new market research report "Cold Pain Therapy Market by Product (OTC (Gels, Creams, Patches, Wraps, Pads), Prescription (Motorized, Non-motorized)), Application (Musculoskeletal, Post-Op, Sports Injuries), Distribution Channel (Hospital, Retail, E-Pharmacy) - Global Forecast to 2027", published by MarketsandMarkets™, the Cold Pain Therapy Market was valued at USD 1.8 billion in 2022 and is projected to reach USD 2.4 billion by 2027 growing at a CAGR of 5.1%.

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243 – Tables
42 – Figures
249 – Pages

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The rising awareness about the cost-effective cold pain relief products, and rising prevalence of arthritis. Emerging economies such as China, Japan, and India are providing profitable opportunities for the players operating in the market.

The OTC products segment accounted for the largest share of the cold pain therapy market, by product segment, in 2021

The market is segmented into OTC products and prescription products. The OTC products holds the largest share of the market in 2021, mainly due to the presence of substantial clinical evidence in favor of cooling gels as sports medicine.

Musculoskeletal disorders segment to register the highest growth rate during the forecast period

The cold pain therapy market has been segmented into musculoskeletal disorders, sports medicine, post-operative therapy, and post-trauma therapy. In 2021, the musculoskeletal disorders segment accounted for the largest share of the market. Factors such as rising geriatric population due to which there is higher prevalence of musculoskeletal disorders and increasing self-care awareness will drive the growth of this segment.

The retail pharmacies segment accounted for the largest share of the cold pain therapy, by distribution channel segment, in 2021

Based on the distribution channel, the cold pain therapy market has been segmented into hospital pharmacies, retail pharmacies, and e-pharmacies. In 2021, the retail pharmacies segment accounted for the largest share of the market. The implementation of government regulations for proper functioning of retail pharmacies is driving the growth of this segment.

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North America is the largest regional market for cold pain therapy market

The global cold pain therapy market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America accounted for the largest share of the market. The North American market growth can be attributed to the growing incidence of arthritis.

The major players operating in this cold pain therapy market are Beiersdorf AG (Germany), DJO Global, Inc. (US), Hisamitsu Pharmaceutical Co., Inc. (Japan), Össur (Iceland), Johnson & Johnson (US), Pfizer (US), Sanofi (France), Rohto Pharmaceutical (Japan), 3M (US), Cardinal Health Inc. (US), Bird & Cronin (US), Compass Health Brands (US), Breg, Inc. (US), Medline Industries (US), Performance Health (US), Romsons Group of Industries (India), Unexo Life Sciences (India), Polar Products (US), Rapid Aid (Canada), Mueller Sports Medicine (US), Pic Solution (US), Bruder Healthcare Company (US), Brownmed Inc. (US), Medichill (Australia), and ThermoTek, Inc. (US).

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Cold Pain Therapy Market Research, In-Depth Analysis, Key Players, Applications, Forecast 2023

According to the new market research report "Cold Pain Therapy Market by Product (OTC (Gels, Sprays, Patches, Cold Packs, Wraps, Pads, and Roll-Ons), Prescription-Based (Motorized, Non-Motorized Devices), Applications (Musculoskeletal Disorders, Post-Operative Therapy, Sports Medicine, and Post-Trauma Therapy) - Global Forecast to 2023", published by MarketsandMarkets™, the Global Cold Pain Therapy Market is projected to reach USD 2.12 Billion by 2023 from USD 1.69 Billion in 2018, at a CAGR of 4.6% during the forecast period.

Factors such as the increasing incidence of sports injuries and a rising emphasis on exercise, the growing number of hip and knee surgeries across the globe, and a rising need for safer pain management modalities (as compared to oral therapy) are expected to drive the demand for cold pain therapy during the study period.

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The OTC products segment is expected to register the highest growth rate during the forecast period

Based on product, the Cold Pain Therapy Market is divided into OTC products and prescription products. OTC products are expected to grow at the highest CAGR during the forecast period. The high patient preference for topical pharmaceuticals as compared to oral medications, owing to their lower side effects, fast pain relief, and convenience, is expected to drive the growth of the OTC products segment in the next five years.

Browse and in-depth TOC on "Cold Pain Therapy Market"

106 - Tables

126 - Figures

273 - Pages

Musculoskeletal disorders are estimated to form the largest segment of the market, by application

The Cold Pain Therapy Market is segmented, by application, into musculoskeletal disorders, post-operative therapy, sports medicine, and post-trauma therapy. The musculoskeletal disorders segment is expected to account for the largest share of the Cold Pain Therapy Market in 2018, owing to the increasing incidence of arthritis, osteoarthritis, back pain, and joint pain; increasing trend of self-care; and the growing preference for topical analgesics to manage musculoskeletal pain.

In 2017, North America accounted for the largest share of the Cold Pain Therapy Market

Geographically, the Cold Pain Therapy Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest share of the market in 2017. The growing geriatric population, the high incidence of arthritis and sports injuries, product launches, the large number of surgeries, and stringent regulations on opioid prescription are expected to drive the growth of cold pain therapy products this region.

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As of 2017, the major players in the Cold Pain Therapy Market are Sanofi (France), DJO Finance (US), and Pfizer (US). Other players in this market include 3M (US), Hisamitsu Pharmaceutical (Japan), Johnson & Johnson (US), Medline Industries (US), Össur (Iceland), Performance Health (US), Beiersdorf (Germany) Rohto Pharmaceutical (US), Breg (US), Romsons Group of Industries (India), Custom Ice (US), and Unexo Life Sciences (India).