- Musculoskeletal Disorders
- Post-operative Therapy
- Sports Injuries
- Post-trauma Therapy
Cold Pain Therapy Market size was valued at USD 2,628.1 million in 2022 and is projected to grow at a 5.7% CAGR over 2023 to 2029. Cold therapy is also known as cryotherapy. It works by reducing blood flow to a particular area, which can significantly reduce inflammation and swelling that causes pain, especially around a joint or a tendon. It can temporarily reduce nerve activity, which can also relieve pain. The Sprays segment anticipated to grow at significant CAGR over the forecast years. The epidermal layer of the skin at the site of inflammation or pain is treated with topical painkillers sprays. Topical pain relievers spray work primarily at the targeted site and in the central nervous system by administering drugs through the skin to the affected area. These Formulations are anaesthetic or analgesic medications that are applied directly to the painful area or close by. The aim is to offer a slow and gradual release of pain relief medication into the bloodstream by keeping the blood levels relatively constant for a certain period. Furthermore, the market players are focusing on launching and aquation of new product into the market to maintain the growth in the forecasting market. For instance, In August 2018 Sun Pharma launches pain relief spray Volini Maxx. Increasing number of hip and knee surgeries, increasing adoption of analgesic patches, growing number of injuries sustained while participating in athletics and gym exercises are a few factors driving the industry's growth over the forecasting period.
Cold Pain Therapy Market Key Developments:
In June 2021, Hisamitsu Pharmaceutical CO., Inc. (Japan) launched Air Salonpas Z, an analgesic and anti-inflammatory spray for muscle pain, bruises, and sprains, among other conditions.
In November 2020, Beiersdorf AG (Germany) invested USD 72.9 million (EUR 60 million) in Hamburg to develop technological centers for strengthening its R&D unit.
Fastest Growing Market
The usage of cold pain treatment also has the additional benefit of temporarily decreasing nerve signals, which lessens pain. The main factors propelling the expansion of the cold pain therapy market are the rising number of injuries incurred when engaging in sports and gym workouts, as well as the rising health care expenditures associated with injuries sustained while participating in sports activity. Market expansion, nevertheless, may be limited by issues such as a shortage of remuneration, a shortage of clinical indications for the drug for cold pain treatment, as well as the misery related to the treatment, among others.
The cold pain therapy market is projected to expand at a CAGR of 5.7% during the forecast period
DJO Global, Inc. (US), Hisamitsu Pharmaceutical Co., Inc. (Japan), Össur (Iceland), Johnson & Johnson (US), Pfizer (US), Sanofi (France), Rohto Pharmaceutical (Japan)
North America is the fastest-growing region for cold pain therapy market