The increasing sports-related injuries coupled with growing sports and recreating activities further encourage cold pain therapy that further contributes to market growth. According to the American Orthopaedic Society for Sports Medicine, the trend towards participation in organized sports has been reported. In the US, approximately, 30 million adolescents and children participate in youth sports. Each year, over 3.5 million kids under the age of 14 receive medical treatment for sports injuries. Moreover, children under the age group of 5 to 14 account for approximately 40% of all the sports-related injuries that are treated in hospitals. The rate and severity of injury rise with the age of the child.
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Furthermore, among athletes under the age group of 5-14, 28% of football players, 22% of soccer players, 12% of softball players, 15% of basketball players and, 25% of baseball players were injured while playing their respective sports. There has been a five-fold rise in the severe shoulder and elbow injuries among softball and baseball players, since 2000. This rising number of sports injuries is fueling the demand for medical bandages to manage joint pain, reduce swelling and providing protection and support to the management of wounds. With the rising prevalence of various cardiovascular diseases, people are adopting a healthy lifestyle by indulging in physical activities. With increasing sports activities, the market for cold therapy is estimated to grow at a substantial rate.
Emerging economies likely to account significant contribution in the cold pain therapy market
The improvement in the economic conditions of emerging economies such as China and India are expected to support the market’s growth. The prime factor for this is a rapidly growing Indian population and a significant share of the middle-class population that cannot afford the western medicines. Moreover, changing healthcare scenarios across India is creating opportunities for an increase in demand for cold pain therapy after knee and hip replacement surgeries. The other factors such as increasing incidences of sports injuries, growing number of surgeries and surge in recreating activities such as exercise, running and gym training raising the demand for cold pain therapy. Rising medical tourism and growth in the aging population are estimated to support market growth in the Asia-Pacific market.
Moreover, the prevalence of hip fractures is also significant in Argentina. According to the International Osteoporosis Foundation, every year 34,000 people suffer from hip fractures in Argentina. Moreover, the lifetime prevalence of fractures for people of age above 50 years in Brazil was estimated to be 37.5%. According to the International Osteoporosis Foundation, Iran accounts for 12.4% of the overall burden of hip fracture in the Middle East region. Jordan is another country in which prevalence is significantly high. It is projected that there were 1,008 hip fractures per day in Jordan. Moreover, the International Osteoporosis Foundation estimates 36,000 daily hip fractures in Turkey. As the prevalence of such surgeries increases in the region, it is estimated to increase the demand for hip replacement surgeries, thereby increasing the application of cold pain therapy in the emerging market.
Global Cold pain therapy Market Segmentation
By Type
By Application
Global Cold pain therapy Market – Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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