Cold Pain Therapy Market Size, Share & Trends Analysis Report By Product (OTC, Prescription-based), By Application, By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, E-commerce), And Segment Forecasts, 2019 - 2026

Report Overview

The global cold pain therapy market size was valued at USD 1.6 billion in 2018 and is expected to grow at a CAGR of 4.9% during the forecast period. Rising prevalence of orthopedic diseases and an increasing number of sports injuries have led to the high growth of the market.

According to the 2017 CDC data, about 54.4 million people in the U.S. were suffering from arthritis. The American Academy of Orthopedic Surgeons estimated that 90% of patients suffering from rheumatoid arthritis tend to develop some kind of symptoms in their foot and ankle. In addition, according to Stanford Children’s Health, nearly one-third of all injuries incurred by children are sports-related injuries. These aforementioned factors are boosting the demand for cold pain therapy.

Rising geriatric population is another factor driving the market. This group of people is highly susceptible to arthritis and joint disorders, which is expected to increase the demand for cold therapy products. Moreover, an increasing number of traumatic injuries resulting from falls, mishaps, and road accidents is another major factor accelerating the growth of the cold pain therapy market.

Cold therapy is a form of cryotherapy that helps activate the body’s natural anti-inflammatory response & endorphins, resulting in reduced swelling and inflammation as well as pain. It also aids in reducing nerve activity, which minimizes pain. Ice packs and wraps are commonly used for patients with muscle sprains, arthritis, and back pain. It is majorly useful for joints and tendons.

Products are available for knees, shoulders, feet, ankles, and other upper extremities. For instance, Cold Rush Compact, manufactured by Ossur, has a single flow design and can be used conveniently at home as well as in healthcare settings for delivering cold therapy. Another product, Intelli-Flo, manufactured by Breg, provides treatment with static compression.

Product Insights

Among all products, OTC products held the largest share in 2018. This is primarily due to the easy availability of these products in both retail as well as online stores. In addition, increased affordability of gels, creams, and sprays is driving the segment growth. Moreover, this segment is expected to witness significant growth over the forecast period due to the availability of a wide range of OTC products, such as gels, creams, foams, sprays, roll-ons, patches, cold packs, wraps, and pads, among others. These products also act as rapid healing solutions for various pain-related disorders.

The prescribed product segment held a significant share in 2018 due to the high prevalence of chronic musculoskeletal disorders. In the U.K., in 2018, about 17.8 million people were suffering from musculoskeletal disorders, according to Arthritis Research UK data. Motorized and non-motorized devices aid in minimizing swelling, managing pain, and facilitating the healing process post-injury or surgery.

Application Insights

Among all applications, orthopedic conditions held the largest market share in 2018 due to the rising prevalence of various orthopedic diseases such as musculoskeletal disorders, arthritis, osteoarthritis, and joint disorders, among others. According to the Arthritis Foundation, osteoarthritis is the most common type of arthritis. WHO anticipated that about 130 million people worldwide are expected to develop osteoarthritis by 2050.

The sports medicine segment is expected to grow at a significant rate during the forecast period due to rising number of sports-related injuries. According to the Southwest Athletic Trainer’s Association, 62% of organized sports-related injuries occur during practices. In addition, key players are increasingly manufacturing a variety of products specifically designed for people who incurred sports-related injuries. Moreover, post-trauma held the largest share of the market in 2018 due to the increasing incidence of traumatic injuries. An increasing number of road accidents is driving the growth of this segment.

Distribution Channel Insights

Among all distribution channels, retail pharmacy held the largest share of the market in 2018 due to the easy availability of a wide range of products. In addition, the rising number of retail pharmacies in both developed, as well as developing countries, has led to high growth of this segment. Topical products are widely available in retail pharmacies. This is expected to drive the growth of the segment.

The e-commerce segment is expected to witness significant growth over the forecast period due to the rising convenience in choosing from websites that offer a range of products, along with detailed product information. Moreover, lucrative offers and discounts available on different websites are driving the growth of this segment. Thus, the rise in e-commerce positively impacts market growth by facilitating consumers to purchase products at their convenience.

Regional Insights

In 2018, North America dominated the global market due to factors such as a rise in the prevalence of orthopedic diseases, coupled with the high adoption of advanced devices in the region. Increasing the geriatric and obese population is expected to result in a growing prevalence of osteoporosis in the U.S. In addition, the presence of key players with wide distribution networks is expected to drive growth in North America.

The market in Asia Pacific is expected to grow at a significant rate over the forecast period. This can be attributed to developing economies and growing healthcare awareness in the region. Osteoarthritis and other orthopedic problems are aging-related diseases and mostly occur among people aged 60 & above. Thus, increasing aging population and rising demand for pain management treatments are driving growth in Asia Pacific.

Cold Pain Therapy Market Share Insights

Some of the major players include Beiersdorf; Breg, Inc.; DJO Global; Hisamitsu Pharmaceutical Co., Inc.; Johnson & Johnson; ÖssurCorporate; Performance Health; Pfizer, Inc.; DeRoyal Industries, Inc.; and Romsons Group of Industries.

Key manufacturers are adopting strategic initiatives, such as mergers & acquisitions, new product development, and regional expansion, to improve their market position. For instance, in 2016, Breg introduced VPULSE therapy, a device that aids in DVT prevention, along with a combination of wound compression and cold therapy. Breg has a wide portfolio of cold pain therapy products, including Intelli-Flo, which provides cold therapy with static compression. Some of its other products are Polar wraps and Polar Care Packs.

Cold Pain Therapy Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, & country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the cold pain therapy market report on the basis of product, application, distribution channel, and region.

• Product Outlook (Revenue, USD Million, 2015 - 2026)

  • OTC Products

    • Gels, Ointments, & Creams

    • Sprays & Foams

    • Patches

    • Roll-Ons

    • Cold Packs

    • Others

  • Prescription Products

    • Motorized Devices

    • Non-motorized Devices

• Application Outlook (Revenue, USD Million, 2015 - 2026)

  • Orthopedic Conditions

  • Post-operative Therapy

  • Sports Medicine

  • Post-trauma Therapy

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2026)

  • Hospital Pharmacy

  • Retail Pharmacy

  • E-Commerce

• Regional Outlook (Revenue, USD Million, 2015 - 2026)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Russia

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

    • Singapore

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • MEA

    • South Africa

    • Saudi Arabia

    • UAE