Use of materials that are cold or have a lower core temperature to relieve pain in individuals is commonly referred as cold pain therapy or cryotherapy. Cryotherapy is primarily used as an injury management skill, to reduce swelling or any inflammations in individuals who have recently met with accidents.
Increasing incidence of injuries due to sport and gym activities, coupled with growing awareness about cold pain therapy across developed and developing economies are major factors boosting growth of the global cold pain therapy market. But, lack of proper reimbursement policies and side effects related with cold pain therapies are major factors hampering growth of the global market currently.
On the basis of application, the global cold pain therapy market is segmented into musculoskeletal disorders, sports medicine, post-operative therapy, and post-trauma therapy. The musculoskeletal segment is anticipated to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. Also, sports medicine segment is projected to witness moderate growth over the forecast period.
The global cold pain therapy market report has been segmented on the basis of product, application, and region. On the basis of region, the global cold pain therapy market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in North America accounted for highest share in terms of revenue in the global market, and is projected to maintain its dominance over the forecast period. This can be attributed to presence of proper medical infrastructure in countries in the region. Moreover, increasing use of cold pain therapy treatments by professional athletes and rising demand for proper and quick treatment of sport injuries are other major factors anticipated to propel growth of the North America market over the forecast period. Revenue from the market in Europe accounted for second-highest share and is closely followed by the markets in Asia Pacific, Latin America, and Middle East & Africa respectively. This is attributed to high disposable income and growing awareness about leading a healthy lifestyle in the region. Furthermore, the market in Asia Pacific is projected to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. This can be attributed to growing awareness about cold pain therapies for treatment of injuries in emerging economies in the region. Also, the markets in Latin America and Middle East & Africa are projected to witness moderate growth over the forecast period.
Prominent players in the global cold pain therapy market include Hisamitsu Pharmaceutical Co., Inc., 3M Company, Breg Inc., Johnson & Johnson, Ossur hf, ROHTO Pharmaceutical Co., Ltd., Sanofi, DJO Finance LLC, Beiersdorf AG, and Medline Industries Inc.