Global Cold Compression Therapy Market, by Product (Cold Packs, Patches, Gels, Sprays, Wraps, Pads, and Roll-Ons), By Injury Type (Wrist, Foot and Ankle, Shoulder, Spine, and Other), By End-user (Hospitals, Specialty Clinics, Homecare Settings, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global cold compression therapy market in 2020 is estimated for more than US$ 3.7 Bn and expected to reach a value of US$ 5.4 Bn by 2028 with a significant CAGR of 4.8%.
As per the report, the cold compression therapy market is primarily driven by the rise in the geriatric population with joint diseases. It may happen due to the degeneration of cartilage or due to the availability of high levels of reactive oxygen species; which further leads to the development of osteoarthritis.
Studies revealed that elderly people are more prone to this condition, resulting in a joint injury. And, cold compression therapy is proved to be effective treats in treating such joint injuries. Hence, the elevated count of older patients with joint disorders fuels the growth of the cold compression therapy market.
Other factors like increasing road accidents coupled with the rising emphasis on gyming and exercising are also responsible for propelling the demand for such techniques. However, the availability of oral drugs for pain relief and the discomfort linked with such therapies may restrict the market growth during the upcoming years.
Growing awareness among patients via promotional marketing strategies and the adoption of these therapies among middle-aged women effectively lubricates growth opportunities of the cold compression therapy market.
Furthermore, the strict regulatory barriers formulated for oral pain medications and the ongoing R & D activities for the development of innovative product lines with supportive accessories serves to be the changing trend of the market.
Furthermore, Meridian Market Consultants (MMC) Study identifies that the statistical facts revealed by Centers for Disease Control and Prevention (CDC), stating that 2,791,000 older people are treated in emergency rooms per year due to fall injuries and around 325,000 children are also treated for sports and recreation-related activities in an emergency room. This results in an increasing count of hip and knee surgeries globally, which further supports the increasing demand for cold compression therapy during the forecast years.
Additionally, the growing need for safer pain management modalities against oral drug therapies is also responsible for fuelling the growth of the cold compression therapy market during the forecast years.
MMC Study identifies some of the key participating players in the cold compression therapy market globally are DJO Global Inc., Berg, Sanofi, Pfizer, 3M, Johnson & Johnson, Cool Systems Inc., Hisamitsu Pharmaceutical, Ossur, Medline Industries, Performance Health, Rohto Pharmaceutical, Beiersdorf, Custom Ice, Romsons Group of Industries, and Unexo Life Sciences.
About Meridian Market Consultants:
Meridian Market Consultants (MMC) is committed to provide deep insights that serve as creative tool for the client that enables it to perform confidently in the market. At MMC we adhere to the client needs and regularly ponder to bring out more valuable and real outcomes for our customers. We are equipped with strategically enhanced group of researchers and analysts that redefines and stabilizes the business polarity in different categorical dimensions of the market.