Cold Pain Therapy Market Growth Report & Industry Trends 2028

Cold Pain Therapy Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Runner's Knee, Tendonitis, Sprains/Sports Sprain, Arthritis Pain, Pain and Swelling After Hip or Knee Replacement, Pain or Swelling Under Cast or Splint, Surgery Recovery, Lower Back Pain, and Others), Offering (Over-the-Counter, Prescription Products, Rehabilitation Exercises, Ice Wrap and Cold Packs, Pads, Compression Therapy, Ice Buckets without Compression, and Others), and End User (Hospitals, Clinics, Rehabilitation Centers, Ambulatory Surgical Centers, Individuals, and Others)

Publication Month : Nov 2022

  • Report Code : TIPHE100001328
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 251
Inquire Before Buy

PRICING

$4550

$3640

[Research Report] The global cold pain therapy market was valued at US$ 2,189.94 million in 2021; it is estimated to grow at a CAGR of 5.3% from 2022 to 2028.

The rising number of orthopedic surgeries due to the increasing cases of sports injuries drives the overall cold pain therapy market growth. Further, high adoption of cold pain therapy in emerging economies provide lucrative opportunities in the global market.

A large population is opting for an active lifestyle, which has increased physical activities such as gymming and sports. This has led to a surge in the cases of sports-related injuries such as rotator cuff injuries, ligament tears, tendon rupture, sprains & strains, and swollen muscles. According to the Hopkins Medicine report, ~3.5 million cases of sports injuries are reported in the US annually. As per Hospital for Special Surgery, rotator cuff injuries are highly common and affect 2-4 million people in the country every year. Rotator cuff conditions develop over time among athletes that can cause trauma.

Further, the increasing geriatric population is highly prone to various orthopedic conditions such as joint disorders, joint replacement, osteoarthritis, and rheumatoid arthritis. According to the Center Orthopedic & Neurosurgical Care & Research, by 2030, total knee replacement surgeries are projected to grow by 673% to reach 3.5 million procedures per year. As a result, the increasing number of orthopedic surgeries creates the demand for cold pain therapy in pain management as postoperative care. Additionally, the rising prevalence of musculoskeletal disorders is expected to increase the need for cold pain therapy to treat various musculoskeletal disorders including trauma, back pain, tendinitis, sarcopenia, osteopenia, and low back injuries. According to World Health Organization (WHO), the musculoskeletal disease affects ~1.71 billion people globally, and low back pain is the leading cause of disability in 160 countries. Moreover, an increase in road accidents and trauma cases is contributing to a major share of orthopedic surgeries. As per the US Department of Transportation, more than 6 million car accidents occur every year in the US. In Florida, more than 350,000 drivers are involved in road accidents, which accounts for 200,000 injuries every year, including spine injuries and knee injuries.

Thus, the increase in sports and physical activities and the surge in orthopedic surgeries owing to sports injuries, a large geriatric population, and a high number of trauma cases are driving the cold pain therapy market growth.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Cold Pain Therapy Market: Strategic Insights

cold-pain-therapy-market
Market Size Value inUS$ 2,189.94 Million in 2021
Market Size Value byUS$ 3,143.88 Million by 2028
Growth rateCAGR of 5.3% from 2022 to 2028
Forecast Period2022-2028
Base Year2021
Analyst Image

Akshay

Have a question?

Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

Regional Overview

China has a well-established healthcare system. According to the UNICEF China report, injuries are the top health problem among children in China. For example, thousands of children die due to drowning, road accidents, or other injuries involving suffocation, poisoning, or falls every year. Additionally. as per the survey conducted by the US Census Bureau, the older population in China would be 17.2% of the world’s total population by 2030. With an increase in the aging population, the number of orthopedic conditions has constantly increased over the previous years. According to the International Osteoporosis Foundation, almost 70 million people in the country above 50 years of age suffer from osteoporosis in a year, which leads to almost 687,000 cases of fractures per year in China. An increase in orthopedic procedures in China owing to the rising geriatric population across the country is supporting the cold pain therapy market growth.

In Australia, the cold pain therapy market is growing due to the increasing prevalence of osteoporosis, rising awareness about orthopedic injuries, and the availability of advanced healthcare infrastructure in the hospitals. Based on data from the Australian Orthopedic Association National Joint Replacement Registry (AOANJRR 2022), 68,466 knee replacement surgeries and 52,787 hip replacement surgeries (including primary partial, primary partial, primary total, and revision procedures) were reported in 2021. Furthermore, there are various market players in the global market. The players are involved in various strategic activities such as product launch, geographical expansion, and product approval, which are further expected to contribute the overall market growth. For instance, in February 2021, Breg, Inc. partnered with Australian-based distributor Club Warehouse to expand delivery of its premium, high-value orthopedic products in the Australian market including cold pain therapy products. The company offers its products to orthopedic practices and sports organizations across the continent, including the Australian Football League (AFL), National Rugby League (NRL) and Rugby Union Clubs. The aforementioned factors  accelerate demand for cold pain therapy products, fueling the overall growth of the cold pain therapy market during 2022–2028.

Application Based Insights

Based on application, the cold pain therapy market is segmented into Runner's knee, tendonitis, sprains/sports sprain, arthritis pain, pain & swelling after a hip or knee replacement, pain & swelling under a cast or a splint, surgery recovery, lower back pain, and others. The surgery recovery segment held the largest share of the market in 2021, and the market in the same segment is expected to grow rapidly during the forecast period. According to the Centers for Disease Control and Prevention (CDC) report, ~300,000 hip replacement procedures are performed on individuals aged 45 and above in the US in 2021. According to the CDC report, hip replacement surgery is becoming common among patients in their 30s and 40s.

Adopting cold and compression therapy machines is one of the most recommended rehabilitation methods for hip replacement surgeries.  Traditional ice and compression therapies following hip replacement surgery can be improved due to the adoption of cold therapy machines. Top competitive players offer innovative product. For instance, Breg, Inc. designed the Polar Care Cube Cold Therapy System, a simple and reliable product utilized by clinics, hospitals, and home care. The product is the best fit for post-operative surgery among patients, generally involving reconstructive procedure, general surgery, post-trauma, chronic pain, and others. With the high volume of procedural surgeries, ice machines without compression increase and other innovative products are acting as a standalone factor responsible for market growth in the surgery segment.

Cold Pain Therapy Market, by Application – 2021 and 2028

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Companies operating in the cold pain therapy market adopt the product innovation strategy to meet the customer demands across the world, which also permits them to maintain their brand name in the market.

Cold Pain Therapy Market – Segmentation

Based on By Application (Runner's Knee, Tendonitis, Sprains/Sports Sprain, Arthritis Pain, Pain or Swelling After A Hip or Knee Replacement, Pain or Swelling Under A Cast or A Splint, Surgery Recovery, Lower Back Pain, And Others). Offering (Over-the-Counter, Prescription Products, Rehabilitation Exercises, Ice wrap and cold packs, Pads, Compression Therapy, Ice Buckets without Compression, and Others); End User (Hospitals, Clinics, Rehabilitation Centers, Ambulatory Surgical Centers, Individuals, and Others). Based on geography, the market is primarily segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.

Company Profiles

  • Brownmed Inc            
  • Bruder Healthcare Co LLC       
  • DJO Global Inc           
  • Ossur hf         
  • Cardinal Health Inc      
  • Vive Health LLC          
  • Battle Creek Equipment Co      
  • ThermoTek Inc           
  • Advanced Therapeutics of LI LLC         
  • Sichuan Jiuyuan Medical Technology Co Ltd.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Application, Offering, and End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What is meant by the cold pain therapy market?

Cold Pain Therapy is also known as cryotherapy which comprises the use of cold materials for pain management in orthopedic conditions, soft tissue injuries, and musculoskeletal disorders. Cold pain therapy reduces the blood flow to the affected area which helps in the reduction of pain, swelling, and inflammation.

What are the driving factors for the cold pain therapy market across the globe?

Increasing sports injuries and orthopedic surgeries and significant rise in geriatric and obese population are the most significant factors responsible for the overall market growth.

Which application segment led the cold pain therapy market?

Based on application, the surgery recovery segment took the forefront leaders in the worldwide market by accounting largest share in 2021 and is expected to continue to do so till the forecast period.

Which end user segment held the largest market share in the cold pain therapy market?

Based on the end user, hospital segment took the forefront leaders in the worldwide market by accounting largest share in 2021 and is expected to continue to do so till the forecast period.

Which offering segment held the largest market share in the cold pain therapy market?

The over-the-counter segment dominated the cold pain therapy market and accounted for the largest market share in 2021.

Who are the key players in the cold pain therapy market?

Brownmed Inc, Bruder Healthcare Co LLC, DJO Global Inc, Ossur hf, Cardinal Health Inc, Vive Health LLC, Battle Creek Equipment Co, ThermoTek Inc, Advanced Therapeutics of LI LLC, Sichuan Jiuyuan Medical Technology Co Ltd among others are among the leading companies operating in the cold pain therapy market.

What is the regional market scenario of the cold pain therapy market?

Cold pain therapy market is segmented by countries comprising of North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.

The List of Companies - Cold Pain Therapy Market

  1. Brownmed Inc      
  2. Bruder Healthcare Co LLC                
  3. DJO Global Inc      
  4. Ossur hf                  
  5. Cardinal Health Inc             
  6. Vive Health LLC    
  7. Battle Creek Equipment Co             
  8. ThermoTek Inc     
  9. Advanced Therapeutics of LI LLC    
  10. Sichuan Jiuyuan Medical Technology Co Ltd

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Cold Pain Therapy Market