The growth in North America is characterized by growing healthcare industry, growing geriatric population, increasing prevalence of arthritis, and increasing number of sports injuries. In addition, technological advancements in the healthcare industry has led to development of innovative therapies in the regions and is likely to stimulate the growth of cold compression therapy market in North America.
The road accidents are the major driving cause of death by injury and the tenth-leading cause of all deaths across the world. Many of the people are injured in the road accidents occupy 30% - 70% of the orthopedic beds in the hospitals of countries across the world. According to the national safety council, in 2018, estimated 40,000 people lost their lives due to car crashes and approximately 4.5 million people were seriously injured due to crashes. The council also stated that 40,000 deaths due to car crashes in 2018 is 14% higher than 2014. The road accidents injuries causes the deformities, amputations of limbs, fractures of bone and sever pain in the different parts of the body. Therefore to support the injured and damaged parts, cold compression therapy is used. The demand for cold compression therapy have increased in the developed as well as developing countries.
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In addition, during the year 2016 to 2019, various companies have made organic and inorganic growth strategies in the market there are operating. Some of the activities undertaken by the company, which have promoted its growth are, product launches, acquisition and partnership. The organic development strategy has been implemented widely that have helped the growth of the companies and in turn have brought about various changes in the market. For instance, in March 2019, Performance health recently has expanded its product portfolio with the launch of the Biofreeze Pain Relief Patch. Biofreeze patches are wrapped for convenient grab-and-go and are made of flexible fabric for superior performance and comfort.
Mexico is expected to witness growth during the forecast owing to the factors such as rise in the medical tourism and the facilities available at cheaper cost is likely to enhance the growth of cold compression therapy market during the forecast period.
NORTH AMERICA COLD COMPRESSION THERAPY – MARKET SEGMENTATION
North America Cold Compression Therapy Market – By Product Type
North America Cold Compression Therapy Market – By Injury Type
North America Cold Compression Therapy Market – By End User
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