At 5.2% CAGR, the Europe Cold Pain Therapy Market is Projected to be Worth US$ 1,078.04 million by 2028, says Business Market Insights

According to Business Market Insights research, the Europe cold pain therapy market was valued at US$ 794.37 million in 2023 and is expected to reach US$ 1,078.04 million by 2028, registering a CAGR of 5.2% from 2022 to 2028. Increasing sports injuries and orthopedic surgeries as well as significant rise in elderly and obese population attributed to the Europe cold pain therapy market expansion.

Various countries are witnessing considerable modernization of healthcare facilities and improvements in healthcare services. As a result, people's life expectancy in these countries has increased, leading to an increase in the geriatric population. According to WHO, the population aged 60 years and above was 1 billion in 2019, which is expected to reach 1.4 billion by the end of 2030 and 2.1 billion by the end of 2050. As per the report published by Eurostat, 20.8% of the European population was aged more than 60 years in 2021, accounting for the highest percentage among all regions. Further, by 2050, all regions, except Africa, will have ~25% of their populations aged 60 and above; additionally, 80% of the population growth will be registered in underdeveloped and developing countries. Moreover, obesity is also a major cause of orthopedic injuries, which is increasing the need for cold pain therapy as obese people are more prone to orthopedic conditions such as soft tissue damage, osteoarthritis, muscle spasm, and sprains. Thus, the increase in the geriatric and obese population has increased the number of orthopedic injuries and disorders, which is driving the growth of the Europe cold pain therapy market.

On the contrary, lack of awareness, unfavourable reimbursement scenarios, and side effects of cold pain therapy hampers the Europe cold pain therapy market.  

Based on application, the Europe cold pain therapy market is segmented into runner's knee, tendonitis, sprains/sports sprain, arthritis pain, pain & swelling after a hip or knee replacement, pain & swelling under a cast or a splint, surgery recovery, lower back pain, and others. The surgery recovery segment held 19.8% share of Europe cold pain therapy market in 2022, amassing US 157.22 million. It is projected to garner US$ 224.25 million by 2028 to expand at 6.1% CAGR during 2022–2028.   

Based on offering, the Europe cold pain therapy market is segmented into over the counter, prescription products, rehabilitation exercises, ice wraps & cold packs, pads, compression therapy, and others. The over-the-counter segment held 27.5% share of Europe cold pain therapy market in 2022, amassing US$ 218.64 million. It is projected to garner US$ 291.41 million by 2028 to expand at 4.9% CAGR during 2022–2028.

Based on end user, the Europe cold pain therapy market is segmented into hospitals, clinics, rehabilitation centers, ambulatory surgical centers, individuals, and others. The hospitals segment held 44.5% share of Europe cold pain therapy market in 2022, amassing US$ 353.81 million. It is projected to garner US$ 477.59 million by 2028 to expand at 5.1% CAGR during 2022–2028.

Based on country, the Europe cold pain therapy market has been categorized into the Germany, the UK, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that the Germany captured 29.5% share of Europe cold pain therapy market in 2022. It was assessed at US$ 233.94 million in 2022 and is likely to hit US$ 310.37 million by 2028, exhibiting a CAGR of 4.8% during 2022–2028.      

Key players operating in the Europe cold pain therapy market are DJO Global inc, Ossur hf, Cardinal Health Inc, and Johnson & Jhonson Service Inc, among others.   

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