The report is titled as ‘Cold Packs Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the cold packs market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The cold packs market is expected to grow at significant rate in the near future.
The global cold packs market in 2020 is estimated for more than US$ 1,531.8 Mn and expected to reach a value of US$ 2,197.3 Mn by 2028 with a significant CAGR of 4.6%.
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Cold Packs Introduction
Cold therapy is increasingly becoming popular in sports medicine as it is proving to be effective in providing relief to muscle pain, sprains, and other muscular injuries. Cold packs therapy is also beneficial to treat joint pain, inflammation, and swelling, temporary stoppage of small incisions due to accidents or trauma, etc.
Pain can be treated by application of cold as the pain makes the veins in tissues to contract and reduce blood circulation to the injury site. Once the cold is removed, blood flushes into the vein and promotes wound healing. Cold packs are applied within 24-48 hours of injury.
However, cold pack therapy is not recommended in patients with impaired circulation, ischemic diseases, open wounds, skin sensitivity, Raynaud’s disease, etc. Cold packs provide temporary comfort from pain but are not suitable for acute exudation wounds. However, cold packs are adjunctive and do require treatment.
Cold Packs Market Dynamics
The growing incidence of sports injuries and road accidents is the primary factor driving demand for the cold packs market. The growing elderly population is another important factor driving the demand of cold packs. Pain is a normal process of aging and elderly people often require pain management for chronic geriatric pain due to joint degeneration, back pains, management of arthritis pain, etc.
According to the United States Census Bureau statistics, the population aged above 65 years will rise to 1.3 Bn by 2040, making 18% of the total world’s population. The growing prevalence of persistent pain is another factor causing the growth of the global cold pack market. However, the only factor restraining the growth of cold packs is shifting demand to herbal and natural medicines for pain.
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Cold Packs Market Segmentation
The global cold packs market is segmented on the basis of product type, distribution channels, and region. On the basis of product type, the global cold packs market can be segmented into instant cold packs, cold patches, gel-filled cold packs, and others. On the basis of the distribution channel, the global cold packs market can be segmented into pharmacies, e-commerce, hypermarkets and supermarkets, and others.
By Product Type
By Distribution Channel
Cold Packs Market Regional Overview and Analysis
On the basis of region, the global cold packs market is segmented into six regions namely North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. North America cold packs market is expected to remain dominating throughout the forecast period. Asia Pacific cold packs market is expected to expand at the highest CGAR of XX% due to the large number of emerging players in the region.
MMC Overview on Cold Packs Market Report
The non-identical approach of Reports and Insights stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the Cold Packs market by Reports and Insights is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that supports market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Cold Packs Market Key Players
The market for cold packs is highly fragmented with few global players and the large number of regional and local players operating in it. Some of the companies identified in the global cold packs market include 3M, Medline Industries, Inc., Halyards Health Inc., Kobayashi Pharmaceutical Co. Ltd., Beiersdorf, Carex Health Brands, etc.
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