In November 2020, Beiersdorf AG (Germany) invested USD 72.9 million (EUR 60 million) in Hamburg to develop technological centers for strengthening its R&D unit.
Northbrook, IL 60062 -- (SBWIRE) -- 09/19/2022 -- The Global Cold Pain Therapy Market is projected to reach USD 2.4 billion by 2027 from USD 1.8 billion in 2022, at a CAGR of 5.1% during the forecast period.
Increasing number of hip and knee surgeries;
There has been observed a aging-related changes in the musculoskeletal system increase the propensity to osteoarthritis (OA), and the severity of the disease is closely related to other OA risk factors such as joint injury, obesity, genetics, and anatomical factors that affect joint mechanics. OA is not an inevitable consequence of growing old, although older age is the greatest risk factor for OA. The market demand for surgical treatment, including joint replacement surgery (hip and knee replacement), is expected to increase significantly, owing to the rapidly increasing aging population worldwide.
Increasing adoption of analgesic patches;
Analgesic patches feature a transdermal drug delivery system, which is a non-invasive mode of medication delivery through the skin. Patches deliver an analgesic drug at a fixed rate across the dermis, while placed on the skin. The use of analgesic patches through transdermal drug delivery systems offers various advantages over oral medications.
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In 2021, OTC products segment accounted for the largest share of the cold pain therapy market, by product."
The cold pain therapy market is segmented into OTC products and prescription products. The OTC products accounted for the largest share of the cold pain therapy market in 2021, mainly due the easy accessibility of OTC products in retail and online pharmacies.
In 2021, musculoskeletal disorders segment accounted for the largest share in the market, by application."
The cold pain therapy market has been segmented into musculoskeletal disorders, sports medicine, post-operative therapy, and post-trauma therapy. In 2021, the musculoskeletal disorders segment accounted for the largest share of the cold pain therapy market. Factor such as the immediate pain relief provided by cold pain therapy products is driving the growth of the market.
"In 2021, retail pharmacies segment accounted for the largest share in the market, by distribution channel."
The cold pain therapy market has been segmented into hospital pharmacies, retail pharmacies, and e-pharmacies. In 2021, the retail pharmacies segment accounted for the largest share of the cold pain therapy market. The easy availability of the all the essential cold pain therapy products in retail pharmacies is driving the growth of this segment.
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"North America is the largest regional market for cold pain therapy."
The global cold pain therapy market is segmented into five major regions-North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America accounted for the largest share of the cold pain therapy market. The North American cold pain therapy market growth can be attributed to the growing sports participation.
Some key players in the cold pain therapy market are Beiersdorf AG (Germany), DJO Global, Inc. (US), Hisamitsu Pharmaceutical Co., Inc. (Japan), Össur (Iceland), Johnson & Johnson (US), Pfizer (US), Sanofi (France), Rohto Pharmaceutical (Japan), 3M (US), Cardinal Health Inc. (US), Bird & Cronin (US), Compass Health Brands (US), Breg, Inc. (US), Medline Industries (US), Performance Health (US), Romsons Group of Industries (India), Unexo Life Sciences (India), Polar Products (US), Rapid Aid (Canada), Mueller Sports Medicine (US), Pic Solution (US), Bruder Healthcare Company (US), Brownmed Inc. (US), Medichill (Australia), and ThermoTek, Inc. (US)
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