The cold compression devices market will achieve stable growth with a CAGR of 4.8% during the forecast period from 2018 to 2026. Cold compression therapy, popularly known as "halotherapy," follows the fundamentals of rest, ice, compression, and elevation (RICE). It helps to reduce inflammation, swelling, edema, and pain by promoting vasoconstriction at the site of injury and numbing pain by slowing nerve conduction velocity. It has a faster onset of action and minimal side effects in comparison to NSAIDs.
Market Synopsis
The availability of diverse varieties and immense popularity among physiotherapists drive the pads and wrap market's growth.
Presently, pads and wraps together are the dominant products in the cold compression devices market. Wraps have gained immense popularity due to their availability in different fittings pertaining to the shoulder, elbow, wrist, hip, knee, ankle, 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 suited for minor injuries such as tendinitis, bruises, whiplash, etc. They are available as gel sacks, which turn into ice packs in the freezer, and some instantly turn cold upon squeezing. Pads are effective in reducing edema and numbing pain. Topical analgesics are formulated as gels and sprays for cold therapy treatment of sprains, strains, and muscle spasms by decreasing nerve conduction velocity and promoting vasoconstriction, eventually decreasing inflammation and edema.
The rising popularity of pain-relieving sessions and an affordable reimbursement scenario drive the hospital and clinic market's growth.
Hospitals and clinics are leading the end-user segment for the cold compression devices market. The major attributes responsible for its impressive growth are the rising popularity of pain-relieving sessions in patients who have recently undergone surgical procedures and an affordable reimbursement scenario for the pain management of acute injuries. Sports science has gained immense popularity as a career opportunity for young aspiring athletes from different sporting disciplines. Increasing demand for performance enhancement and stiff competition has resulted in a number of injuries to athletes during practice sessions and competitions. Fractures, ligament swelling, joint instability, etc., are treated with cold compression devices for their promising results and minimal side effects in comparison to painkillers and inflammation-reducing drugs.
Increasing cases of trauma and 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 of the market for cold compression devices. 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. The existence of key players such as DJO Global, Inc., Coolsystems, Inc., Hyperice, Inc., and 3M Healthcare, etc., catering to the requirements of patients availing of pain therapy and management in the North American region. The growing geriatric population and the increasing incidence of domestic accidents resulting in fractures, joint instability, swelling, and edema drive the European cold compression devices market. Asia Pacific is set to register good growth during the forecast period from 2018 to 2026 on account of a 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 outlets and subsidiaries.
Periods of History and Forecast
This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
In the scope of the report, the market is segmented as follows:
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.
Key questions are answered in this report.
Who are the medical device companies providing cold compression devices?
How are the latest market trends determined, and market size and CAGR predicted?
What is the hunting reaction, and how is it applied in cold compression therapy?
What is the performance of various products on the market for cold compression devices?
What is the performance of different end-users enlisted in the cold compression devices market?
What are the factors responsible for the global dominance of North America in the cold compression devices market?
Frequently Asked Questions:
The market for Cold Compression Devices Market is expected to reach US$ XX Mn by 2026.
The Cold Compression Devices Market is expected to see significant CAGR growth over the coming years, at 4.8%.
The report is forecasted from 2018-2026.
The base year of this report is 2017.
Breg, Inc., Bio Compression Systems, Inc., DJO Global, Inc., Hyperice, Inc., 3M Healthcare, Kinetic Medical Products UK, Ltd., Ossur Global, Polar Products, Inc. are some of the major players in the global market.
