Global Cold Pain Therapy Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Cold Pain Therapy Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The cold pain therapy, name it suggests that it includes the usage of cold materials in relieving pain. Cryotherapy commonly used is an essential injury management skill. Cold therapy reduces the blood circulation, thereby reduces inflammation, muscle spasm and pain. Cold therapy is also known as cryotherapy. It works by reducing blood flow to a particular area, which can significantly reduce inflammation and swelling that causes pain, especially around a joint or a tendon. It can temporarily reduce nerve activity, which can also relieve pain.

Market Overview:

The latest research study on the global Cold Pain Therapy market finds that the global Cold Pain Therapy market reached a value of USD 392.11 million in 2022. It’s expected that the market will achieve USD 552.14 million by 2028, exhibiting a CAGR of 5.87% during the forecast period.

Influence of COVID-19 Outbreak on Cold Pain Therapy Industry Development

The sudden outbreak of the COVID-19 pandemic has caused many countries/regions to implement strict lockdown regulations, leading to the interruption of the import and export activities of cold pain therapy products. COVID-19 can affect the global economy in three main ways: directly affecting production and demand, leading to supply chain and market disruptions, and financial impact on companies and financial markets. The outbreak of the COVID-19 pandemic has severely affected the cold pain therapy product industry. Due to the national blockade, the supply chain of raw materials was interrupted, putting pressure on the supply of products in the industry. Cold pain therapy products have a high demand for diversified distribution channels. The convenience of distribution channels requires smooth logistics and flexible dealers. However, emotions have dealt a heavy blow to logistics, seriously affecting the speed of turnover, labor shortages and increased raw material costs, etc. Factors will increase production costs and risks. At the same time, under the impact of the capital market, investor confidence has been frustrated, and corporate financing has become more difficult.

The COVID-19 pandemic has significantly affected the cold pain therapy market. Due to the pandemic, the cold pain therapy market experienced short-term negative growth, which can be attributed to a sharp reduction in access to hospital and retail pharmacies and the temporarily shutdown of orthopedic clinics and rehabilitation centers. The US witnessed a decline of 30-60% in hospital visits after the announcement of nationwide lockdown measures (Source: The Commonwealth Fund, 2020). The restricted or limited access to rehabilitation clinics, temporary closure of gyms and fitness centers, restrictions on outdoor sporting activities, and social distancing measures resulted in a reduction in the number of trauma and sports injuries. This further reduced the sales of cold pain therapy products.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

BREG is one of the major players operating in the Cold Pain Therapy market, holding a share of 17.38% in 2021.

BREG, Inc. manufactures and markets sports medicine products. The Company offers knee, hip, elbow, spine, foot, and ankle braces, as well as provides canes crutches walkers and home therapy kits.

DJO is a medical device company that produces a variety of orthopedic products for rehabilitation, pain management and physical therapy. It has multiple divisions including Bracing & Supports, Surgical, Footcare, Healthcare Solutions, Recovery, and Consumer.

Segmentation Overview:

Among different product types, Motorized Devices segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Sports Team segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Cold Pain Therapy market covered in Chapter 3:

Hyperlce
DJO Global
Coolsystems
Össur
BREG
PowerPlay
ThermoTek
Xiangyu Medical
Polar Products

In Chapter 4 and Chapter 14.2, on the basis of types, the Cold Pain Therapy market from 2018 to 2029 is primarily split into:

Motorized Devices
Non-Motorized Devices

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Cold Pain Therapy market from 2018 to 2029 covers:

Hospitals & Clinics
Rehabilitation Center
Sports Team

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)