Ranchi News Desk

Cold Pain Therapy Market: Opportunities and Challenges

 Breaking News
  • No posts were found

Cold Pain Therapy Market: Opportunities and Challenges

November 05
05:45 2019
Cold Pain Therapy Market: Opportunities and Challenges

The cold pain therapy market was dominated by Sanofi (France), DJO Finance (US), and Pfizer (US). These companies accounted for a majority share of the global market in 2017.
The rising preference of patients for alternative therapies is a major challenge faced by the cold pain therapy market.

The global cold pain therapy market is projected to reach USD 2.12 billion by 2023 from USD 1.69 billion in 2018, at a CAGR of 4.6% during the forecast period.

Will the growing adoption of analgesic patches provide growth opportunities for the cold pain therapy market?

Analgesic patches feature a transdermal drug delivery system, which is a non-invasive mode of medication delivery through the skin. 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. 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. In addition to these, patches provide continuous drug release, enable patients to self-administer the drug, prevent first-pass metabolism, and improve the patient’s quality of life.

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=55543905

These products are convenient for geriatric and pediatric use since these groups usually cannot tolerate alternative drug delivery routes, including intravenous, continuous subcutaneous, or rectal routes of administration. In the geriatric population, pharmacokinetic and metabolic changes make them more susceptible to side-effects and overdosing associated with analgesic drugs. Patches are also a safer option for people suffering from renal dysfunction or failure. These advantages of analgesic patches create opportunities for growth for players in the cold pain therapy market.

Will the availability of alternative non-drug/device pain management therapies create obstacles for market growth?

Non-drug/device therapy approaches such as physical therapy/exercise, meditation, relaxation techniques, yoga, cognitive behavioral therapy (CBT), acupuncture, biofeedback, chiropractic manipulation, the application of heat, ultrasound, compression therapy, and massages are alternative treatment options available for acute and chronic pain management in patients. These alternative therapies are less expensive, easily available, and have fewer side effects. Thus, the adoption of these therapies is usually high among patients for the management of acute and chronic pain.

Acupuncture is one of the most commonly used techniques worldwide to treat lower back pain, arthritis, neck pain, and muscle pain. If used in combination with other therapies, acupuncture also helps reduce the need for drugs and improves the quality of life of patients suffering from chronic pain (Source: Acupuncture and Massage College, Inc., 2018 and WebMD, LLC. March 2016). In addition, more than half of the adult population in the US visit a chiropractor every year, and more than one-quarter of them chooses chiropractic care as the first line of treatment for back or neck pain. This is mainly because chiropractic care is safe, with a low risk of serious complications (about 1 in every 5.86 million adjustments).

The rising preference of patients for alternative therapies is a major challenge faced by the cold pain therapy market.

Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=55543905

Browse Related Reports:

Pain Management Devices Market by Device Type (Neurostimulation, SCS, TENS, RF Ablation, Infusion Pumps), Application (Cancer, Neuropathy, Musculoskeletal, Migraine, Facial), by Mode of Purchase (OTC, Prescription-Based) – Global Forecasts to 2021

Neuroendoscopy Market by Product (Rigid (Videoscope, Fiberscope), Flexible endoscope), Usability (Reuse and Disposable), Application (Transnasal, Intraventricular, and Transcranial), Region (North America, Europe, Asia) – Global Forecast to 2022 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email: Send Email
Phone: 1-888-600-6441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/cold-pain-therapy-market-55543905.html

Related Articles