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DUBLIN--(BUSINESS WIRE)--Nov 7, 2022--
The "Cold Pain Therapy Market by Product (OTC (Gels, Creams, Patches, Wraps, Pads), Prescription (Motorized, Non-motorized)), Application (Musculoskeletal, Post-Op, Sports Injuries), Distribution Channel (Hospital, Retail, E-Pharmacy) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
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. Growth in this market is mainly driven by growing incidence of arthritis and availability of cold pain products at affordable cost.
The OTC products segment accounted for the highest growth rate in the cold pain therapy market, by product, during the forecast period.
The cold pain therapy market is segmented into OTC products and prescription products based on product. In 2021, the OTC products segment accounted for the highest growth rate in the cold pain therapy market. Market growth can largely be attributed to the easy accessibility of OTC products in retail and online pharmacies.
E-pharmacies segment accounted for the highest CAGR.
Based on the distribution channel, the cold pain therapy market has been segmented into hospital pharmacies, retail pharmacies, and e-pharmacies. In 2021, the e-pharmacies segment accounted for the highest growth rate. This can be attributed to the easy accessibility of medications coupled with added discounts.
Asia Pacific: The fastest-growing region cold pain therapy market.
The global cold pain therapy market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Factors such as increasing geriatric population coupled with rising prevalence of arthritis and other musculoskeletal disorders.
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KEYWORD:
INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/07/2022 06:47 AM/DISC: 11/07/2022 06:47 AM
http://www.businesswire.com/news/home/20221107005604/en