Global Cold Pain Therapy market size is expected to surpass around US$ 4.9 Billion by 2027.

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Latest Study on “Cold Pain Therapy Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2027”.

The global Cold Pain Therapy market size is expected to be worth around US$  4.9 Billion by 2027, according to a new report by nova one advisor.

The global Cold Pain Therapy market size was valued at US$ 1.9  billion in 2020 and is anticipated to grow at a CAGR of 5.2% during forecast period 2021 to 2027.

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Growth Factors:

Factors such as increasing prevalence of arthritis and the rising number of sports injuries are the key factors boosting the demand for cold pain therapy products for the management of pain. Moreover, growing awareness about the availability of cost-effective cooling pain relief products and the ease of application of cold pain therapy products  are anticipated to accelerate the adoption of these products in the coming years.

Cold Pain Therapy  Market Dynamics

Driver: Increase in the prevalence of incidence of sports injuries

Musculoskeletal injuries are the most common forms of sports-related injuries. Some of the common injuries include ankle sprains, knee injuries, fractures, joint injuries, tennis elbow (epicondylitis), and dislocations. Cold pain therapy products, such as ice packs and sprays, are the most commonly used products for the management of pain associated with sports-related injuries as they provide instant pain relief. Furthermore, with rising disposable income levels, growing health awareness, growing obesity rate, and growing stress levels, the emphasis on gym activities and workouts among adults across the globe has increased augumenting the market growth.

Restraint:High usage of low-priced analgesic pills for immediate pain relief

As the population in emerging nations is price-sensitive, they prefer lower-priced products. Analgesic drugs, such as paracetamol or acetaminophen, ibuprofen, and aspirin, are among the most widely used OTC drugs. These drugs are widely available at lower costs. This, coupled with the low awareness related to the adverse effects of painkillers, is a key factor contributing to the high adoption of analgesic pills for immediate pain relief.

The high adoption of OTC drugs by customers in emerging nations due to the availability of low-priced generic versions of drugs, lack of awareness about new therapies for pain management, and growing health concerns are some additional factors contributing to the high usage of analgesic pills, hampering the market growth.

Opportunity: Growing adoption of analgesic patches

Patches are easy to use and provide a wide range of advantages over traditional parenteral or oral routes as the drug delivery is simple, painless, non-invasive, and convenient. Moreover, they increase patient compliance and satisfaction and provide site-specific dosing. While placed on the skin, patches deliver an analgesic drug at a fixed rate across the dermis. The use of analgesic patches through transdermal drug delivery systems offers various advantages over oral medications.

Challenge: Availability of alternative non-drug/device pain management therapies

Non-drug/device therapy approaches, such as physical therapy/exercise, meditation, relaxation techniques, yoga, cognitive-behavioral therapy (CBT), acupuncture, biofeedback, chiropractic manipulation, the application of heat, ultrasound, compression therapy, and massages are alternative treatment options available for acute and chronic pain management in patients. These alternative therapies are less expensive, easily available, and have fewer side effects. Thus, the adoption of these therapies is usually high among patients for the management of acute and chronic pain. Thus, the rising preference of patients for alternative therapies is likely to become a major challenge for market growth.

By product, OTC product segment is expected to have the largest market share during the forecast period

The large share of this segment is attributed to factors such as the significant increase in the prevalence of musculoskeletal disorders such as osteoarthritis, back and neck pain  and rise in arwarness among patients about the growing availability of OTC cold pain therapy products.

Musculoskeletal Disorders accounted for the largest share of the cold pain therapy market, by apalication, in 2020

The growing prevalence of musculoskeletal disorders gloablly and the demand for thecost effective pain relief ptroducts and the growing awareness about the avaolibility of effective cold therapy products for the musculoskeletal disorders pain management and  rise in the geriatric patient population are likely to fuel the growth of this segment during the forecast period.

Retail Pharamcies  accounted for the largest share of the cold pain therapy market, by Distribution channel, in 2020

The segment accounted for the highest share owing to the increasing growing awareness about the availability of effective cold pain therapy products in retail pharmacies, increase in the expansion of retail pharmacies through collaboration with e-pharacies and the major focus on strengthening the brand connection among customnesr by widening their personal consulatnat services are some of the factors anticipated to preopel the growth of this segment.

North America is the largest regional market for Cold pain therapy

North America (comprising the US and Canada) dominates cold pain therapy market. North America is a gaining traction with the increasing incidence and prevalence of orthopedic disoprders. Moreoer resence of major key platers in the region, facourable government scenarios, higher awarness of self tetsing and home care products and significant adoption of  cold therapy products are likely to paly a major role in fueling the growth of the cold pain therapy market in the North America.

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COVID-19 Impact on Cold Pain Therapy Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Cold Pain Therapy market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Cold Pain Therapy market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Key Players:

This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Cold Pain Therapy market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the Cold Pain Therapy market include:

Sanofi (France), Pfizer (US), Hisamitsu Pharmaceutical (Japan), ROHTO Pharmaceutical (Japan), Beiersdorf (Germany), Johnson & Johnson (US), Medline Industries (US), Össur (Iceland), Performance Health (US), Breg (US), Romsons Group of Industries (India), Unexo Life Sciences (India), and Bird & Cronin (US).

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

By Product

  • OTC Products
    • Pharmaceuticals
      •  Gels, Ointments, and Creams
      • Sprays and Foams
      • Patches
      • Roll-Ons
    • Medical Devices
  • Cold Packs
  • Cooling Towels, Compresses, Wraps, and Pads
  • Prescription Products
    • Motorized Devices
    • Non-Motorized Devices

Browse Complete Table of Content@ https://www.novaoneadvisor.com/toc/cold-pain-therapy-market

Why Buy this Report?

The purpose of Nova one advisor’s Cold Pain Therapy market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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