Cold Pain Therapy Market is Projected to grow at a CAGR of 5.0% from 2016 to 2021
The global cold pain therapy market is estimated to grow at a CAGR of 5.0% from 2016 to 2021 to reach USD 1,087.7 million by 2021. The adoption of cold pain therapy products is rising across the globe due to the growing adoption of analgesic patches, increasing aging population, growing use of cold pain therapy among middle-aged women, and the rising preference for self-care. However, a lack of reimbursement for cold pain therapy, absence of clinical evidence in the favor of cold pain therapy, and significant health hazards and discomfort related to cold pain therapy products are restraining the growth of this market.
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The global cold pain therapy market has been segmented on the basis of products into OTC [pharmaceuticals (gels, ointments, and creams, sprays and foams, patches, and roll-ons) and medical devices (cold packs, cooling towels, compress, wraps, and pads)] and prescription-based devices (motorized and non-motorized devices); application (musculoskeletal disorders, sport medicine, post-operative, post-trauma, and physical therapy); and region (North America, Europe, Asia-Pacific, and the Rest of the World).
The musculoskeletal disorders application segment is expected to account for the largest market share in 2016 and projected to grow at the fastest CAGR during the study period. The availability of a large number of OTC pain management products for musculoskeletal disorders, instant pain relief provided by cold therapy products, and increasing trend of self-care are some factors driving the growth of the musculoskeletal disorders market.
Geographically, North America is expected to command the largest share of the global cold pain therapy market in 2016, followed by Europe. The growth in the North American market is primarily driven by various factors, including the large number of surgeries, stringent regulations on opioid prescription, and new product launches.
In 2015, the global market was dominated by Hisamitsu Pharmaceutical Co., Inc. (Japan), 3M Company (U.S.), and Breg Inc. (U.S.). New product launches, agreements and contracts, and mergers are the major strategies adopted by market players to strengthen their presence and increase their share in the cold pain therapy market.
Related Report:
Global Hot And Cold Therapy Packs Industry Market Research Report
The Hot And Cold Therapy Packs market revenue was xx.xx Million USD in 2013, grew to xx.xx Million USD in 2017, and will reach xx.xx Million USD in 2023, with a CAGR of x.x% during 2018-2023. Based on the Hot And Cold Therapy Packs industrial chain, this report mainly elaborate the definition, types, applications and major players of Hot And Cold Therapy Packs market in details. Deep analysis about market status (2013-2018), enterprise competition pattern, advantages and disadvantages of enterprise Products, industry development trends (2018-2023), regional industrial layout characteristics and macroeconomic policies, industrial policy has also be included. From raw materials to downstream buyers of this industry will be analyzed scientifically, the feature of product circulation and sales channel will be presented as well. In a word, this report will help you to establish a panorama of industrial development and characteristics of the Hot And Cold Therapy Packs market.
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