Cold Pain Therapy Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Cold Pain Therapy Market Analysis
The Cold Pain Therapy Market is expected to register a CAGR of 4.5% during the forecast period.
The increasing cases of injuries related to sports, the growing geriatric population, and the adoption of quick pain-relieving technologies are expected to propel the market growth. In a survey conducted in January 2023 in the United States and published in the January 2024 issue of the International Journal of Innovative Research in Medical Science, about 60% of participants highlighted the prevalence of sports-related injuries in American football. Thus, the high prevalence of sports injuries is expected to increase the popularity of cold pain therapy, which reduces blood flow to specific areas, effectively alleviating inflammation and the resulting pain and accelerating market growth.
The rising number of road accidents also creates a demand for cold therapy since it constricts the blood vessels, reducing inflammation and swelling and propelling market growth over the forecast period. For instance, as per the report Road Accidents in India, published in October 2023, the number of traffic accidents in the country increased to 461 thousand in 2022, an increase of 11.9% in accidents compared to 2021. The high burden of road accidents and the resulting injury and trauma may increase the need for cold therapy, thereby boosting the market growth.
Furthermore, the growing funding for pain research is expected to increase the development of cold pain therapies, which is likely to drive market growth over the forest period. For instance, as per the data published by the National Institutes of Health (NIH) in May 2024, funds amounting to USD 1,019 million were provided by NIH for pain research, and this amount is expected to increase to USD 1,111 million by 2025 in the United States. Therefore, the growing research funding encourages companies to develop novel cold pain therapy products, boosting market growth.
Therefore, the high burden of sports injuries and traffic accidents, coupled with growing research studies on pain, is expected to boost the market growth over the forecast period. However, the lack of awareness regarding cold therapy and reimbursement policies for cold pain therapy is estimated to restrain the market growth.
Cold Pain Therapy Market Trends
The Sports Medicine Segment Expected to Hold Majority Market Share During the Forecast Period
Sports medicine is a branch of medicine that deals with physical fitness and the treatment and prevention of injuries related to sports and exercise. The segment is expected to grow during the forecast period owing to the high burden of sports injuries worldwide and rising product launches. For instance, in November 2023, the Global Insurance Group published a Men’s European Football Injury Index for the 2022/23 season, which showed an increased severity of ankle (170%), calf/shin (200%), and hamstring injuries (130%) in 2022. This shows the high burden of sports injuries, which is expected to increase the need for sports medicine and boost the segment's growth.
Moreover, the source highlighted that overuse injuries, prevalent in sports, can result in either partial or complete tissue damage or foster a chronic inflammatory setting, manifesting as conditions like plantar fasciitis or ambiguous clinical pain. Consequently, the rising incidence of sports-related soft tissue injuries is projected to drive the utilization of cold pain therapy in sports medicine procedures over the forecast period.
Furthermore, according to an article published in the World Journal of Emergency Medicine in November 2022, a study conducted in China during the Beijing Olympics 2022 showed that an estimated 2,897 athletes from 91 countries experienced sports-related injuries or illnesses. As per the same source, the Olympics medical staff reported 326 injuries and 80 illnesses, equaling 11.3 injuries and 2.8 illnesses per 100 athletes over the 17 days during the Olympics. Altogether, 11% of the athletes incurred at least one significant injury.
Therefore, owing to the high burden of sports injury cases, the segment is expected to grow significantly during the forecast period.
North America is Expected to Hold a Significant Market Share During the Forecast Period
North America is expected to have a significant share in the market owing to the high burden of sports injuries and accidents and advanced cold pain therapy options in the region. For instance, according to the data published by Transport Canada’s National Collision Database (NCDB) in May 2024, the total number of injuries that occurred due to accidents was reported to be 118.8 thousand in 2022 in Canada, including 8,851 serious injuries.
Similarly, according to an article published by the University of Bath in September 2022, there was a high rate of injuries among collision sport participants in Canadian high schools in 2022. According to the same source, the rates of injuries ranged from 12.7 injuries per 100 participants every year in rugby to 33.1 injuries per 100 participants every year in ice hockey. The prevalence rate for injuries to the head was recorded at 33.3%, followed by wrist or hand at 16.0%, shoulder at 12.8%, and knee at 12.0%. Hence, the high burden of accidents and sports injuries is expected to increase the need for cold therapy products, which is likely to drive market growth in the region.
Additionally, the innovative launches and partnerships of market players are expected to propel market growth in the region during the forecast period. For instance, in January 2022, the Rock 'n' Roll Running Series forged a multi-year partnership with Biofreeze, a brand under Reckitt. In this new collaboration, Biofreeze assumes the Official External Pain Relief Partner role for both the series and every Rock 'n' Roll Running event across the United States. Runners can experience the rejuvenating benefits of cooling pain relief at the Biofreeze Recovery Zone within the Rock ‘n’ Roll Finish Line Festival. Hence, the new initiatives by companies are expected to have significant growth in the market.
Therefore, owing to factors such as the high burden of road accidents and sports injuries and rising product launches by market players, the market studied is anticipated to flourish in North America.
Cold Pain Therapy Industry Overview
The cold pain therapy market is fragmented, with several market players. Well-established market players are gaining momentum through e-commerce and expanding into new regions. In addition, these market players are launching new products, which increases the availability of cold pain therapy products. Some companies currently dominating the market are Breg Inc., Brownmed Inc., Enovis Corporation (DJO Global Inc.), Össur hf., and Cardinal Health Inc.
Cold Pain Therapy Market Leaders
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Breg Inc.
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Brownmed Inc.
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Össur hf
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Cardinal Health Inc.
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Enovis Corporation (DJO Global Inc.)
*Disclaimer: Major Players sorted in no particular order
Cold Pain Therapy Market News
- June 2024: Moov, a prominent pain relief brand, unveiled Moov Cool, a groundbreaking product drawing inspiration from cold therapy. Harnessing the potency of menthol, this solution targets muscle and joint pain, addressing issues stemming from injuries, sprains, strains, and muscle soreness often linked to an active lifestyle.
- February 2024: Zynex Inc., a key medical technology firm, launched two innovative therapy solutions, namely the Zynex Pro Hybrid LSO and the Zynex DynaComp Cold Compression. Zynex DynaComp Cold Compression seamlessly merges cold therapy with compression, offering on-the-go recovery acceleration.
- April 2022: Zixa Strong launched an innovative oil-in-water FlashMicelle technology with a dual-action composition for fast relief from intense pain.
Cold Pain Therapy Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Number of Road Accidents and Sports-related Injuries
- 4.2.2 Increasing Geriatric Population and Adaptation of Cold Therapy Products
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4.3 Market Restraints
- 4.3.1 Lack of Awareness Regarding Cold Therapy
- 4.3.2 Lack of Reimbursement Policies For Cold Pain Therapy
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4.4 Industry Attractiveness - Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Buyers/Consumers
- 4.4.2 Bargaining Power of Suppliers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Product
- 5.1.1 OTC Products
- 5.1.1.1 Creams
- 5.1.1.2 Gels
- 5.1.1.3 Patches
- 5.1.1.4 Other OTC Products
- 5.1.2 Prescription Products
- 5.1.2.1 Pharmaceuticals
- 5.1.2.2 Medical Devices
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5.2 By Application
- 5.2.1 Sports Medicine
- 5.2.2 Post-operative Therapies
- 5.2.3 Trauma and Orthopaedic
- 5.2.4 Other Applications
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5.3 By Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Breg Inc.
- 6.1.2 Brownmed Inc.
- 6.1.3 Cardinal Health Inc.
- 6.1.4 Enovis Corporation (DJO Global Inc.)
- 6.1.5 Össur hf
- 6.1.6 Performance Health
- 6.1.7 Medline Industries Inc.
- 6.1.8 IceWraps
- 6.1.9 Compass Health
- 6.1.10 Hisamitsu Pharmaceutical Co. Inc.
- 6.1.11 Romsons
- 6.1.12 Unexo Life Sciences Pvt. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityCold Pain Therapy Industry Segmentation
As per the report's scope, cold pain therapy uses cold to relieve the pain caused by injuries or other causes. The products range from pharmaceuticals, medical devices, and OTC products. Cold pain therapy is primarily used on fresh injuries, such as ligament sprains, muscle sprains, and severe bruises. This therapy is used for tissue fatigue injuries, such as tennis elbow, supraspinatus tendinitis, iliotibial band syndrome, and patellofemoral pain syndrome.
The cold pain therapy market is segmented by product, application, and geography. By product, the market is segmented into OTC products and prescription products. OTC products include creams, gels, patches, and other OTC products. Prescription products include pharmaceuticals and medical devices. By application, the market is segmented into sports medicine, post-operative therapies, trauma and orthopedics, and other applications. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers market sizes and forecasts in terms of value (USD) for the above segments.
| By Product | OTC Products | Creams |
| Gels | ||
| Patches | ||
| Other OTC Products | ||
| By Product | Prescription Products | Pharmaceuticals |
| Medical Devices | ||
| By Application | Sports Medicine | |
| Post-operative Therapies | ||
| Trauma and Orthopaedic | ||
| Other Applications | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| By Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| By Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Cold Pain Therapy Market Research FAQs
What is the current Cold Pain Therapy Market size?
The Cold Pain Therapy Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)
Who are the key players in Cold Pain Therapy Market?
Breg Inc., Brownmed Inc., Össur hf, Cardinal Health Inc. and Enovis Corporation (DJO Global Inc.) are the major companies operating in the Cold Pain Therapy Market.
Which is the fastest growing region in Cold Pain Therapy Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Cold Pain Therapy Market?
In 2024, the North America accounts for the largest market share in Cold Pain Therapy Market.
What years does this Cold Pain Therapy Market cover?
The report covers the Cold Pain Therapy Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Cold Pain Therapy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Cold Pain Therapy Industry Report
Statistics for the 2023 Cold Pain Therapy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cold Pain Therapy analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
