7-Jan-2020: The global cold
pain therapy market size is expected to reach USD 2.3 billion by 2026,
according to a new report by Grand View Research, Inc., exhibiting a CAGR of
4.9%. Rising incidence of orthopedic diseases has led to high growth of the
market. CDC estimated that nearly 78 million people in the U.S., aged 18 years
or above, are expected to be diagnosed with arthritis by 2040.
Rising number of
road accidents and traumatic injuries is leading to a high growth of the
market. According to WHO data, every year nearly 10 million people suffer
injuries in road accidents or incur a disability as a result of injuries in
head, chest, arms, and legs. Thus, with the increasing number of road
accidents, the demand for therapy products for pain management is rising. Increasing
number of sports injuries also play a pivotal role in the rising demand for
these products. The most common types of sport injuries are dislocated joints,
muscle sprains & strains, tear of ligaments & tendons that hold the
joints together, and fractured bones, including the vertebrae.
Geriatric
population is a significant target population driving the market. Countries
such as Germany and China have high geriatric population base. This factor is
contributing to market growth. According to CDC, 1 in every 4 adults are
affected by osteoarthritis. Thus, rising geriatric population is expected to
increase the demand for cold pain therapy products.
In
depth research report on Cold Pain Therapy Market
Further key findings from the study suggest:
·
OTC products dominated the market in 2018 due to
affordability and easy availability of products such as creams, gels, sprays,
and roll-ons
·
Orthopedic conditions held a significant market share in 2018
owing to rising prevalence of various musculoskeletal and joint disorders, such
as osteoarthritis
·
The sports medicine segment is expected to witness a
significant growth during the forecast period due to increasing number of
sport-related injuries
·
Retail pharmacies accounted for a considerable revenue share
in 2018, owing to increase in their demand due to easy availability of products
·
Among all distribution channels, e-commerce is expected to
grow at the highest CAGR during the forecast period, owing to lucrative offers
and discounts available online
·
North America dominated the cold pain therapy market in 2018
due to factors such as an increase in the prevalence of orthopedic disorders
and presence of key market players in the region
·
Asia Pacific is likely to grow at a high rate over the
forecast period due to rising geriatric population, coupled with growing
healthcare awareness in the region
·
Some of the major companies in the market are Beiersdorf;
Breg, Inc.; DJO Global; Hisamitsu Pharmaceutical Co., Inc.; Johnson &
Johnson; and Össur Corporate.
Grand View Research
has segmented the cold pain therapymarket on the basis of product, application,
distribution channel, and region:
Cold Pain Therapy Product Outlook (Revenue, USD Million, 2015
- 2026)
·
OTC Products
·
Gels, Ointments, & Creams
·
Sprays & Foams
·
Patches
·
Roll-Ons
·
Cold Packs
·
Others
·
Prescription Products
·
Motorized Devices
·
Non-motorized Devices
Cold Pain Therapy Application Outlook (Revenue, USD Million,
2015 - 2026)
·
Orthopedic Conditions
·
Post-operative Therapy
·
Sports Medicine
·
Post-trauma Therapy
Cold Pain Therapy Distribution Channel Outlook (Revenue, USD
Million, 2015 - 2026)
·
Hospital Pharmacy
·
Retail Pharmacy
·
E-commerce
Browse
more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
No comments:
Post a Comment