Industry Outlook
The cold compression devices market will achieve a stable growth with a CAGR of 4.8% during the forecast period from 2018 to 2026. Cold compression therapy popularly known as hilotherapy follows the fundamentals of rest, ice, compression and elevation (RICE). It is beneficial in reducing inflammation, swelling, edema and reduction in pain by promoting vasoconstriction on the site of injury and numbing pain by reducing the nerve conduction velocity. It has a faster onset of action and minimal side effects in comparison to NSAIDS.
"Availability of diverse varieties and immense popularity among physiotherapists drive the pads and wraps market growth"
Presently pads and wraps together are reigning the products segment for cold compression devices market. Wraps have gained immense popularity due to its availability in different form fitting pertaining to shoulder, elbow, wrist, hip, knee and ankles etc. The large surface area is helpful in providing deep penetration of cold therapy at the injury site thereby, reducing swelling and pain. Pads are better preferred for minor injuries such as tendinitis, bruises and whiplash etc. They are available as gel sacks which turns into ice packs on freezer and some instantly turn cold on squeezing. Pads are effective in reducing edema and numbing pain. Topical analgesics are being formulated as gels and sprays for cold therapy treatment of sprains, strains, and muscle spasm by decreasing nerve conduction velocity and promote vasoconstriction eventually decreasing inflammation and edema.
"Rising popularity of pain relieving sessions and affordable reimbursement scenario drive the hospital and clinics market growth"
Hospitals and clinics are leading the end-user segment for cold compression devices market. The major attributes responsible for its impressive growth are rising popularity of pain relieving sessions in patient’s recently undergone surgical procedure and affordable reimbursement scenario for pain management of acute injury. Sports science has gained immense popularity as a career opportunity to young aspiring athletes from different sporting disciplines. Increasing demand for performance enhancement and stiff completion has resulted in number injuries to athletes during practice session and competition. Fractures, ligament swelling, joint instability etc. are treated with cold compression devices for promising results and minimal side effects in comparison to painkillers and inflammation reducing drugs.
"Increasing cases of trauma & accidents and rapidly growing sports science drive the cold compression devices market in North America"
In the current scenario North America is dominating the regional segment for cold compression devices market. Increasing cases of trauma and rapidly growing sports science are major factors that provide a positive thrust to the market growth of cold compression devices in North America. Existence of key players such as DJO Global, Inc., Coolsystems, Inc., Hyperice, Inc., and 3M Healthcare etc., cater to the requirements of patients availing pain therapy and management in North America region. Increasing geriatric population and growing incidence of domestic accidents resulting in fractures, joint instability, swelling and edema propel the cold compression devices market growth in Europe. Asia Pacific is set to register good growth during the forecast period from 2018 to 2026 on account of developing sports industry and increasing public health awareness regarding cold therapy. It serves as a potential market for major players to promote business expansion by establishing retail outlet and subsidiaries.
Medical device manufacturers providing cold compression devices are Breg, Inc., Bio Compression Systems, Inc., DJO Global, Inc., Hyperice, Inc., 3M Healthcare, Kinetic Medical Products UK., Ltd., Ossur Global, Polar Products, Inc. and Thermotek.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Cold Compression Devices market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
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End-User
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
