The global market is estimated to grow at a CAGR of 5.0% from 2016 to 2021 to reach USD 1087.7 Million by 2021
The growth in this market is primarily driven by the rising incidence of sports injuries, growing need for safe pain management modalities, and rising regulatory barriers for oral pain medications. Cold pain therapy produces cooling sensations at the site of pain and alleviates the same instantly by distracting the mind from the pain.
Based on product, the market is categorized into OTC and prescription-based products. OTC-based cold pain therapy products are segmented into pharmaceuticals (gels, ointments, and creams, sprays and foams, patches, and roll-ons) and medical devices (cold packs, cooling towels, compresses, wraps, and pads) whereas the prescription-based devices are classified into motorized and non-motorized devices. The OTC segment is expected to command the largest market share in 2016, primarily due to the easy availability of these products without prescription.
On the basis of application, the market is segmented into musculoskeletal disorders, sport medicine, post-operative, post-trauma, and physical therapy. The musculoskeletal disorders segment is expected to witness the highest market share in 2016 due to the increasing number of individuals suffering from arthritis, osteoarthritis, back pain, and joint pain; and the rising proportion of geriatric population.
In 2016, North America accounted for the largest share of the global market, followed by Europe. The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period. Factors such as the long-term market presence of key cold pain therapy players with established product portfolios in the region and a high preference for topical analgesics are stimulating the growth of the APAC market.
Cold Pain Therapy Market
Hisamitsu Pharmaceutical Co. Inc. (Japan), Breg Inc. (U.S.), and 3M Company (U.S.) were the top players in the market in 2015. Agreements and contracts were the top strategies employed by the leading players in the market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Cold Pain Therapy Market, By Product
7 Cold Pain Therapy Market, By Application
8 Cold Pain Therapy Market, By Region
9 Competitive Landscape
10 Company Profiles
- 3M Company
- Beiersdorf AG
- Breg, Inc.
- DJO Finance LLC
- Hisamitsu Pharmaceutical Co., Inc.
- Johnson & Johnson
- Medline Industries, Inc.
- Össur HF
- Rohto Pharmaceutical Co., Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/wg5kmk/cold_pain_therapy
About Research and Markets
Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/research-and-markets---global-cold-pain-therapy-market-2016-2021-by-product-and-application-with-hisamitsu-pharmaceutical-breg-inc--3m-company-dominating-300351790.html
SOURCE Research and Markets