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Cold Pain Therapy Market to Exceed USD 3,143.88 Million by 2028 says, The Insight Partners

Over-the-Counter Segment to Lead Cold Pain Therapy Market During 2022–2028

NEW YORK, UNITED STATES, January 10, 2023 /EINPresswire.com/ -- The global cold pain therapy market is expected to reach US$ 3,143.88 million by 2028; registering at a CAGR of 5.3% from 2022 to 2028, according to a new research study conducted by The Insight Partners.

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.

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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, and Sichuan Jiuyuan Medical Technology Co Ltd. are among the leading companies operating in the cold pain therapy market.

During COVID-19 pandemic, many companies manufacturing cold pain therapy devices were responding to the health crisis by manufacturing PPE kits and distributing pharmaceutical drugs. Additionally, the pandemic disrupted the supply chain across the world, which adversely affected the supply and production of cold pain therapy devices. Furthermore, many nonurgent surgical treatments and consultations were canceled or postponed during the COVID-19 outbreak to limit the spread of the virus infection and reserve and reallocate resources for COVID-19 management. Elective surgery was suspended in many institutions, and the overall volume of orthopedic cases fell dramatically. The "stay at home" strategy in Europe resulted in a significant reduction in orthopedic surgeries, as well as decrease in trauma cases during the outbreak. Moreover, there has been a constant increase in incidence of orthopedic conditions and musculoskeletal disorders, which creates high demand for cold pain therapy. Thus, the COVID-19 pandemic moderately hindered the market.

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.

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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.

Based on application, the cold pain therapy market is segmented into runner's knee, tendonitis, sprains/sports sprain, arthritis pain, pain and swelling after a hip or knee replacement, pain or swelling under a cast or a splint, surgery recovery, lower back pain, and others. Based on offering, the market is segmented into over-the-counter, prescription products, rehabilitation exercises, ice wrap and cold packs, pads, compression therapy, ice buckets without compression, and others. Based on end user, the market is segmented into hospitals, clinics, rehabilitation centers, ambulatory surgical centers, individuals, and others. By geography, the cold pain therapy market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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.

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Cold Pain Therapy Market Forecast to 2028 - COVID-19 Impact and Global Analysis

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