Asia Pacific Cold Pain Therapy Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Application (Runner's Knee, Tendonitis, Sprains/Sports Sprain, Arthritis Pain, Pain and Swelling After Hip or Knee Replacement, Pain or Swelling Under Cast

Asia Pacific Cold Pain Therapy Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Application (Runner's Knee, Tendonitis, Sprains/Sports Sprain, Arthritis Pain, Pain and Swelling After Hip or Knee Replacement, Pain or Swelling Under Cast or Splint, Surgery Recovery, Lower Back Pain, and Others), Offering (Over-the-Counter, Prescription Products, Rehabilitation Exercises, Ice Wrap & Cold Packs, Pads, Compression Therapy, Ice Buckets Without Compression, and Others), and End User (Hospitals, Clinics, Rehabilitation Centers, Ambulatory Surgical Centers, Individuals, and Others)

The Asia Pacific cold pain therapy market is expected to grow from US$ 315.63 million in 2022 to US$ 476.61 million by 2028. It is estimated to record a CAGR of 7.1% from 2022 to 2028.

High Adoption of Cold Pain Therapy in Emerging Economies to Drive Asia Pacific Cold Pain Therapy Market During 2022–2028

Cold pain therapy includes using cold material, such as cold packs, to reduce swelling, muscle spasms, and inflammation. The emerging economies have a large patient pool of geriatric and obese people that are prone to orthopedic conditions. According to the Technical Group on Population Projections for India report, there were ~138 million people in the country aged 60 years and above in 2021, which is expected to increase to ~156 million people by 2031. Moreover, an increase in healthcare expenditure leading to the development of healthcare services and infrastructure and a rise in medical tourism are expected to create significant opportunities for the cold pain therapy market in Asia Pacific in the coming years. According to the Indian Society for Trauma and Acute Care, road accidents are increasing at an annual rate of 3%. Furthermore, 22.8% of all traumas were related to transport-related injuries in India in 2020. Thus, the high adoption of cold pain therapy in emerging economies, such as India, owing to the rising geriatric and obese population and growing road accident and trauma cases are expected to create lucrative opportunities for the Asia Pacific cold pain therapy market players during the forecast period.

Market Overview

Asia Pacific is the fastest-growing regional market for cold pain therapy. The Asia Pacific cold pain therapy market is segmented into China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific. Asia Pacific accounted for 13.48% of the global market share in 2021, owing to the high prevalence of musculoskeletal diseases, rising aging population, and increasing incidence of sports injuries. Therefore, the region would hold huge potential for the cold pain therapy market players to grow during the forecast period.

China’s population is rapidly aging at an earlier stage of its development than other countries. As per the survey by the US Census Bureau, the older population in China in 2030 would be 17.2% of the world’s total population. With an increase in the aging population, the number of orthopedic conditions has constantly increased over the previous years. Furthermore, increasing adoption of cold pain therapies along with traditional Chinese medicine and rising expansion of various global market players are likely to drive the growth of the cold pain therapy market in the country during the forecast period. Additionally, increase in R&D activities by market players to enhance efficiency of existing devices along with new product launches in the cold pain therapy market is expected to bolster the Asia Pacific cold pain therapy market growth during the forecast period.

Asia Pacific Cold Pain Therapy Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Cold Pain Therapy Market Segmentation

The Asia Pacific cold pain therapy market is segmented on the basis of application, offering, end user, and country. Based on application, the Asia Pacific 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 market share in 2022.

Based on offering, the Asia Pacific cold pain therapy market is segmented into over-the-counter, prescription products, rehabilitation exercises, ice wraps & cold packs, pads, compression therapy, ice buckets without compression, and others. The over-the-counter segment held the largest market share in 2022.

Based on end user, the Asia Pacific cold pain therapy market is segmented into hospitals, clinics, rehabilitation centers, ambulatory surgical centers, individuals, and others. The hospitals segment held the largest share of the market in 2022.

Based on country, the Asia Pacific cold pain therapy market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the market in 2022.

Cardinal Health Inc, DJO Global Inc, Ossur hf, and Sichuan Jiuyuan Medical Technology Co Ltd are among the leading companies operating in the Asia Pacific cold pain therapy market.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific cold pain therapy market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific cold pain therapy market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the cold pain therapy market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution