The global cold pain therapy market size is expected to reach USD 2.67 billion by 2030, according to a new study by Polaris Market Research. The report “Cold Pain Therapy Market Share, Size, Trends, Industry Analysis Report, By Product (OTC Products and Prescription Products); By Application; By Distribution Channel; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The increasing geriatric population, the growing number of people suffering from traumatic injuries, and the rise in awareness regarding innovative and advanced cold pain therapy products are key factors expected to boost the demand and growth of the global market at a significant growth rate over the forecast period.
Moreover, the introduction of several products specially designed for injuries related to sports by key market players is also propelling the adoption and expansion of the global market over the coming years.
For instance, according to our findings, in India, the number of people over 60 years will double by 2050, accounting for around 19.6% of the total population. Thus, the country's growing number of senior citizens is developing several concerns related to their health. Hence, the demand for cold pain therapy among the geriatric population and the adoption of advanced therapy technologies is anticipated to grow much higher in the near future.
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Increasing non-fatal injury cases and growing awareness regarding healthy and fit lifestyles, coupled with the rising penetration of and prevalence of road accidents, are likely to impact the global market positively in the coming years. Additionally, various advantages offered by topical analgesics, like systematic absorption, minimized risk of toxicity, and reduced side effects, have paved the way for lucrative growth opportunities shortly.
Cold Pain Therapy Market Report Highlights
Polaris Market Research has segmented the cold pain therapy market report based on product, application, distribution channel, and region:
Cold Pain Therapy, Product Outlook (Revenue - USD Billion, 2018 - 2030)
Cold Pain Therapy, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Cold Pain Therapy, Distribution Channel Outlook (Revenue - USD Billion, 2018 - 2030)
Cold Pain Therapy, Regional Outlook (Revenue - USD Billion, 2018 - 2030)