According to the new market research report “Cold Pain Therapy Market by Product (OTC (Gels, Creams, Patches, Wraps, Pads), Prescription Devices (Motorized, Non-Motorized), Applications (Musculoskeletal, Post Op, Sports Medicine), Distribution Channel(Hospital, Retail) – Global Forecasts to 2025” published by MarketsandMarkets™.
The study involved four major activities to estimate the current size of the Cold pain therapy market. Exhaustive secondary research was carried out to collect information on the market and its different sub-segments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Top-down and bottom-up approaches were employed to estimate the complete market size.
In the secondary research process, various secondary sources, such as annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, regulatory bodies, and publications from government sources [such as National Institutes of Health (NIH), US FDA, US Census Bureau, World Health Organization (WHO), ‘Organisation for Economic Co-operation and Development (OECD),were referred to identify and collect information for the cold pain therapy market study.
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Growth Opportunity: Growing adoption of analgesic patches;
Patches are easy to use and provide a wide range of advantages over traditional parenteral or oral routes as the drug delivery is simple, painless, non-invasive, and convenient. Moreover, they increase patient compliance and satisfaction and provide site-specific dosing. While placed on the skin, patches deliver an analgesic drug at a fixed rate across the dermis. The use of analgesic patches through transdermal drug delivery systems offers various advantages over oral medications.
Expected Revenue Surge: The global cold pain therapy market size is projected to reach USD 2.0 billion by 2025 from USD 1.6 billion in 2020, at a CAGR of 4.4% during the forecast period.
Geographical Scenario in Depth:
The emerging Asian countries, such as China, India, South Korea, Japan and Singapore, are offering high-growth opportunities for market players. The Asia Pacific market is projected to grow at the highest CAGR of 5.6% from 2020 to 2025. Growing preference for topical products, especially cold patches, expansion of healthcare infrastructure, growing awareness of cold therapy products the region. Moreover, emergence of key players with established prpduct portfolio are driving the growth of the APAC cold pain therapy market.
Sanofi (France), Pfizer (US), Hisamitsu Pharmaceutical (Japan), ROHTO Pharmaceutical (Japan), Beiersdorf (Germany), Johnson & Johnson (US), Medline Industries (US), Össur (Iceland), Performance Health (US), Breg (US), Romsons Group of Industries (India), Unexo Life Sciences (India), and Bird & Cronin (US)
Sanofi is among the leading pharmaceutical companies in the world. It focuses on the research, development, manufacture, and commercialization of healthcare products (including medicines, vaccines, and therapeutic products). The company operates its business through three segments, namely, Pharmaceuticals, Vaccines, and Consumer Healthcare. Sanofi offers a wide range of cold pain therapy products, such as patches, creams, sprays, balms, and roll-ons, through its Consumer Healthcare segment and its subsidiary Chattem, Inc. (US).Sanofi has a strong geographic presence in over 100 countries, with distribution networks across more than 170 countries across the globe,including the US, France, Germany, Turkey, Brazil, and Japan. Some of its key subsidiaries include Aventis, Inc. (US), Sanofi-Aventis Deutschland GmbH (Germany), Aventis Pharma Limited (UK), Sanofi (Hangzhou) Pharmaceuticals Co., Ltd. (China), and Merial Japan Ltd.
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