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| Cold Pain Therapy Market |
The global cold pain therapy market is witnessing
considerable growth due to increasing geriatric population, increasing healthcare
expenditure and growing awareness about cold pain therapy products. Moreover,
increase in innovative product launches, increase in road accidents and sport
related injuries across the globe is supporting the growth of the market. Based
on product, the OTC based product segment lead the global cold pain therapy
market owing to its easy availability over the counter, without any doctor
prescription and ease of use.
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The popularity of cold pain therapy products is
due to presence of several pain relief products in market. These products
include creams, gels, ointments, sprays, cold packs, rolls, cooling towels,
motorized and non-motorized devices. Based on application, the musculoskeletal
disorders segment lead the global market due to increasing cases of arthritis,
osteoarthritis, joint pain and back pain across the globe.
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Geographically, North America has been the
largest market for cold pain therapy, owing to increased awareness, and easy
accessibility to advanced technologies including motorized and non-motorized
devices.Europe has been the second largest market for cold
pain therapy, where the market is driven by the increasing popularity of OTC
products, increasing healthcare expenditure, increasing arthritis and
osteoarthritis and launch of novel products. In 2015, Germany lead the European
cold pain therapy market and it is also expected to grow at the fastest rate in
Europe, during forecast period.
Globally, the cold pain therapy market is
expected to witness the fastest growth in Asia-Pacific during the forecast
period. The highest growth in the region is attributed to the increasing
awareness about the various marketed products available over the counter
including creams, gels, sprays, and cold packs, which are comparatively cheaper
and easy to use. In addition, increasing per capita income leading to enhanced
standard of living, increasing disposable income, increase in sports injuries
and road accidents cases and growing demand for better quality medical care
boosts the market growth in the region. The high preference for topical
analgesics over oral pills for pain treatment in Japan and China supports the
growth of the market.
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The key players operating in the global cold
pain therapy market are Johnson & Johnson, Sanofi, 3M Company, Hisamitsu
Pharmaceutical Co., Inc., Rohto Pharmaceutical Co., Ltd., Medline Industries,
Inc., Beiersdorf AG, Breg, Inc., Össur HF and DJO Finance LLC.
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