The cold pain therapy market is expected to grow in upcoming years due to factors such as rise in incidence of injuries in sports and increasing importance of exercise and gym activities. Increase in number of knee and hip surgeries around the world is one of the factors expected to boost the cold pain therapy market growth.

Cold Pain Therapy comprises use of cold materials to relieve the pain. Cold pain therapy is also known as cryotherapy. It reduces the blood flow in a particular area of the body to decrease the inflammation and swelling around the joints. Cold pain therapy is used for relieving the local pain, myofascial pain and pain due to muscle spasm. Ice packs are mostly used as primary analgesics for relieving the pain. They are effective, inexpensive and a drugless method for relieving the pain from sprains, strains and swelling. Injuries which are caused due to sports activities and gym activities are major growth factors for driving the market growth.

Market scope and structure analysis:

COVID-19 scenario analysis:

Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicines supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunity for manufacturers of COVID-19 management drugs, as many developed countries are short of these drugs. Owing to the demand for vaccine and treatment drugs for COVID-19, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future. Considering these factors, COVID -19 is expected to have significant impact on the cold pain therapy market.

Top Impacting factors:

• Factors such as rise in incidence of sports injuries and increase in importance of gym activities has resulted in growth for the cold pain therapy market over the past years.
• Growth in number of knee and hip surgeries around the world and need for safe pain management modalities as opposition for oral drug therapy is expected to drive the market growth for cold pain therapy market.
• Increase in healthcare expenditure due to physical injuries caused due to lack of activity and obesity are some of the factors responsible for the market growth.
• Initiatives of the government to support the cold pain therapy is expected to flourish the growth of the market.
• However, factors such as lack of reimbursement, side effects, clinical evidence for medication and therapy and discomfort caused by the treatment is expected to hamper the growth of cold pain therapy market up to some extent over the forecast period.

New Product Launch / News:

• In April 2019, Pacira BioSciences announced its acquisition with MyoScience, which is expected to advance the non-opioid pain management by adding the FDA-approved iovera system to the Pacira commercial offering. This will help healthcare providers and patients to fight the opioid crisis by offering innovative therapies to decrease or end the need for opioids
• In 2018, Hisamitsu Pharmaceutical and Olympic and Paralympic Games,
• Tokyo 2020 signed an agreement to be an official partner to provide external pain relief products during the 2020 Tokyo Olympic and Paralympic Games
• In June 2018, Halyard Health, Inc. in Alpharetta announced an agreement for acquisition of Cool Systems, Inc., a provider of cold therapy and compression therapy systems. This will help in widening the orthopedic section and would provide innovative non-opioid therapies that decrease or eliminate the usage of opioids for surgical patients.

  Key Segments Covered:

  Segments	Sub-segments
  By Product	OTC Products Pharmaceuticals Gels, Ointments and Creams Sprays and Foams Patches Roll-ons Roll-ons Cooling Towels Compresses Wraps Pads Cold packs   Prescription Products Motorized Devices Non-motorized Devices
  By Application	Musculoskeletal Disorders Sports Medicine Post-Operative Therapy Post-Trauma Therapy
  By Therapy	Icepack Therapy Chamber Therapy Cryosurgery
  Distribution Channel	Hospitals Pharmacies Retail Pharmacies Online Pharmacies
  Region	North America U.S. Canada Mexico Europe Germany France UK Spain Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific LAMEA Brazil South Africa Saudi Arabia Rest of LAMEA

   

  Key benefits of the report:

• This study presents the analytical depiction of the global cold pain therapy market along with the current trends and future estimations to determine the investments.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed cold pain therapy market analysis based on competitive intensity and how the competition will take shape in coming years.

• Questions answered in the cold pain therapy market report:

• Who are the leading market players active in the cold pain therapy market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
• What Segments and region will drive the market growth & why?