Dublin, June 15, 2018 (GLOBE NEWSWIRE) -- The "Cold Pain Therapy Market by Product (OTC (Gels, Sprays, Patches, Cold Packs, Wraps, Pads, and Roll-Ons), Prescription-Based (Motorized, Non-Motorized Devices), Applications - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
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%
The increasing incidence of sports injuries and rising emphasis on exercise and gym activities, growing number of hip and knee surgeries across the globe, and growing need for safer pain management modalities as opposed to oral drug therapy are expected to drive the demand for cold pain therapy products during the study period. On the other hand, lack of reimbursement and high usage of low-priced analgesic pills for immediate pain relief across the globe may limit market growth during the forecast period. The OTC products was the largest segment on the basis of products in 2017 The OTC products segment accounted for the larger share of the global cold pain therapy market in 2017. This can be attributed to factors such as high patient preference for topical pharmaceuticals compared to oral medications owing to its lower side effects, fast pain relief, and convenience in use. The musculoskeletal disorders is the fastest growing segment of the cold pain therapy market during the forecast period. The market is segmented into musculoskeletal disorders, post-operative therapy, sports medicine, and post-trauma therapy on the basis of application. In 2017, the musculoskeletal disorders segment is growing at the highest CAGR during the forecast period. The increasing incidence of arthritis, osteoarthritis, back pain, and joint pain; rising geriatric population; increasing trend of self care; and the growing preference for topical analgesics to manage musculoskeletal pain are some of the major factors driving the growth of this market segment. Asia Pacific is expected to register the highest growth rate in the cold pain therapy market Geographically, the cold pain therapy market is segmented into North America, Europe, Asia Pacific, and the RoW. APAC is projected to be the fastest-growing regional segment in the cold pain therapy market. The rising geriatric population, increasing incidence of arthritis, strong presence of major players in the cold pain therapy market with established product portfolios, increasing healthcare expenditure, and growing preference for topical analgesics, especially patches to manage pain are the factors expected to drive the growth of the market in the APAC region.
Key Topics Covered:
1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 4.1 Key Drivers in the Cold Pain Therapy Market (2018-2023) 4.2 Global Cold Pain Therapy Market, By Product 2018 vs 2023 (USD Million) 4.3 Global Cold Pain Therapy Market: By Application (2018 vs 2023) 4.4 North America to Hold the Largest Market Share in the Cold Pain Therapy Market in 2018 4.5 Asia-Pacific to Register the Highest CAGR in Cold Pain Therapy Market During the Forecast Period (2018-2023) 5 Market Overview 5.1 Introduction 5.2 Key Market Drivers 5.2.1 Increasing Incidence of Sports Injuries and Rising Emphasis on Exercise and Gym Activities 5.2.2 Growing Number of Hip and Knee Surgeries Across the Globe 5.2.3 Growing Need for Safer Pain Management Modalities as Opposed to Oral Drug Therapy 5.2.4 Clinical Evidence in Favor of Menthol-Based Topical Analgesics 5.3 Key Market Restraints 5.3.1 High Usage of Low-Priced Analgesic Pills for Immediate Pain Relief 5.3.2 Lack of Reimbursement 5.3.3 Lack of Substantial Clinical Evidence in Favor of Cold Pain Therapy 5.3.4 Health Hazards and Discomfort Associated With Cold Pain Therapy Products 5.4 Key Market Opportunities 5.4.1 Growing Adoption of Analgesic Patches Because of the Advantages Associated With the Use of Them 5.4.2 Aging Population Sensitive to Traumatic Injuries 5.4.3 Growing Awareness Among Consumers Owing to Promotional Marketing Strategies 5.4.4 Growing Use of Cold Pain Therapy Among Middle-Aged Women 5.4.5 Increasing Regulatory Barriers for Oral Pain Medications 5.5 Key Market Challenges 5.5.1 Availability of Alternative Non-Drug/Device Pain Management Therapies 5.5.2 Stringent Regulations on Ammonium Nitrate Usage 6 Cold Pain Therapy Market, By Product 6.1 Introduction 6.2 OTC Products 6.2.1 Pharmaceuticals 6.2.1.1 Gels, Ointments, and Creams 6.2.1.2 Sprays and Foams 6.2.1.3 Patches 6.2.1.4 Roll-Ons 6.2.2 Medical Devices 6.2.2.1 Cold Packs 6.2.2.2 Cooling Towels, Compresses, Wraps, and Pads 6.3 Prescription Products 6.3.1 Motorized Devices 6.3.2 Non-Motorized Devices 7 Cold Pain Therapy Market, By Application 7.1 Introduction 7.2 Musculoskeletal Disorders 7.3 Post-Operative Therapy 7.4 Sports Medicine 7.5 Post-Trauma Therapy 8 Cold Pain Therapy Market, By Region 8.1 Global Market 8.2 North America 8.2.1 US 8.2.2 Canada 8.3 Europe 8.3.1 Germany 8.3.2 UK 8.3.3 France 8.3.4 Spain 8.3.5 Italy 8.3.6 Rest of Europe (RoE) 8.4 Asia Pacific 8.4.1 Japan 8.4.2 China 8.4.3 India 8.4.5 Rest of Asia Pacific (RoAPAC) 8.5 Rest of the World (RoW) 8.5.1 Latin America 8.5.2 Middle East and Africa 9 Competitive Landscape 9.1 Introduction 9.2 Market Share Analysis 9.3 Competitive Scenario 9.4 Recent Developments 9.4.1 New Product Launches 9.4.2 Agreements, Partnerships, and Contracts 9.4.3 Expansions 10 Company Profiles 10.1 Beiersdorf 10.2 Breg 10.3 Custom Ice 10.4 DJO Finance 10.5 Hisamitsu Pharmaceutical 10.6 Johnson & Johnson 10.7 Medline Industries 10.8 ssur 10.9 Performance Health 10.10 Pfizer 10.11 Sanofi 10.12 Rohto Pharmaceutical 10.13 Romsons Group of Industries 10.14 Unexo Life Sciences 10.15 3M
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