03 August 2020
Visiongain has launched a new pharma report Cold Compression Therapy Market Report 2020-2030: Prospects by Product (OTC products (Sprays, Gels, Roll-ons, Ointments, Creams, Patches, Cold Packs), Prescription Products (Motorized & Non-motorized Devices)), Application (Orthopedic Conditions, Post-operative Therapy, Sports Medicine, Post-trauma Therapy, Distribution channel (Hospital Pharmacy, Retail Pharmacy, eCommerce), and Geography.
Cold compression therapy involves 2 of the principles of R.I.C.E (rest, ice, compression, elevation) to reduce pain & swelling caused to soft tissues by sports/activity injuries. Specifically, this therapy is used to treat sprains, strains pulled muscles & ligaments. Cold compression is a combination of static compression and cryotherapy, typically used after surgical procedures or acute trauma to relieve inflammation & pain.
The global cold compression therapy market is anticipated to grow on account of growing advancements in technology for cold compression therapy, growing instances of arthritis, sports injuries, road accidents and growing ageing population across the globe.
The largest cause of joint diseases is the increasing elderly population. Due to cartilage degeneration and the role of excessive levels of reactive oxygen species, joint diseases are most prevalent among the elderly population. The overall ageing process creates changes in the joint tissues thus leading to osteoarthritis. Osteoarthritis (OA) is an age-related disease that causes the articular cartilage to be degraded & lost. Obesity, joint injury, genetics, & anatomical abnormalities are the major factors responsible for osteoarthritis.
There is a loss in the human body's ability to maintain homeostasis under stressful conditions among the aged population. Therefore, excessive mechanical stress leads to disease development. In contrast, osteoarthritis is mostly seen in the elderly population coupled with a joint injury. According to the CDC, the number of US adults aged 65+ is projected to surpass 95 million. For treating diseases such as arthritis, cold compression therapies are very successful. Thus, growing geriatric population & increased vulnerability to joint diseases are anticipated to boost market growth further.
North America is the largest market capturing the majority of market share owing to factors such as growing healthcare expenditure and growing geriatric population in the United States. However, Asia Pacific cold compression region is anticipated to grow with the highest CAGR over the forecast period owing to the growing patient pool in emerging economies of Japan, China & India. Also, Japan is anticipated to offer lucrative revenue generation avenues for the market players as its population is rapidly aging and its elderly population make up a third of Japan’s population.
Some of the major players operating in this industry are 3M, Beiersdorf, Bio Compression Systems, Breg, Coolsystems (Game Ready), Custom Ice, DJO Global, Hisamitsu Pharmaceutical, Hisamitsu Pharmaceutical, Medline Industries, Inc., Össur, Performance Health, Pfizer, Polar Products, PowerPlay, ROHTO Pharmaceutical Co., Ltd., Romsons Group of Industries, Sanofi, ThermoTek, Unexo Life Sciences Pvt. Ltd. among other prominent players.
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