The North America cold compression therapy market is anticipated to reach US$ 1,221.18 Mn in 2027 from US$ 798.41 Mn in 2018. The market is projected to grow with a CAGR of 4.9% from 2019-2027.
The growth of the cold compression therapy market is primarily attributed due to technological developments in cold compression therapy, rising incidences of orthopedic injuries, sports injuries and road accidents, and increasing geriatric population across the region. However, the market is likely to get impacted by the risk factor such as increasing consumption of pain relief oral drugs during the forecast period.
The growing elderly population is the major cause of the joint diseases. The joint diseases are mostly prevalent in the elderly people due to cartilage degeneration and the role of excessive levels of reactive oxygen species. The general aging factors cause changes in the joint tissues that results in the development of osteoarthritis. Osteoarthritis (OA) is age-related disease and causes degradation and loss of the articular cartilage. Factors responsible for OA are obesity, joint injury, genetics, and anatomical abnormalities. In the aging population, there is loss in the ability of the human body to maintain homeostasis under stressful conditions. Thus, excessive mechanical stress results in the development of the disease. Moreover, the elder population with joint injury develop osteoarthritis more rapidly. According to the data published in 2018 by Centers for Disease Control and Prevention it is estimated that by 2060 the number of US adults aged 65 and over 65 years is expected to reach 98 million. Cold compression therapies are very effective in treating diseases like arthritis. Hence, the rising geriatric population and the increased susceptibility to joint diseases is expected to fuel the growth of the cold compression therapy market during the coming years.
In 2018, the cold compression pumps segment held a largest market share of 20.55% of the Cold Compression Therapy Market, by product type. The pumps segment is also expected to dominate its market share in 2027 as treatment offered by the pumps is safe and controlled. On the other hand, pumps segment is also anticipated to witness the fastest growth rate of 5.7% during the forecast period, 2019 to 2027 owing to majority of the companies working towards developing cold compression solutions.
Similarly, in 2018 the shoulders segment held a largest market share of 40.8% of the cold compression therapy market, by injury type. The foot and ankle segment is also expected to grow at the fastest growth rate of 5.3% during the forecast period.
Furthermore, the hospitals segment held a largest market share of 39.9% of the cold compression therapy market, by treatment site in 2018. This segment is also expected to dominate the market in 2027 as it is the primary care center for most of the population.
Some of the major primary and secondary sources for endodontic devices included in the report are, Centers for Disease Control and Prevention, American Orthopaedic Society for Sports Medicine (AOSSM), Department of Orthopaedics and Rehabilitation, USA, National Safety Council and United States Census Bureau among others.