The Global Market for Hot and Cold Therapy Packs is Forecast to Exceed US$995 Million by 2020

Aging Population and their Vulnerability to Pain and Injuries Drives the Global Hot and Cold Therapy Packs Market, According to a New Report by Global Industry Analysts, Inc.

                                                                                                

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Hot and Cold Therapy Packs market. The global market for Hot and Cold Therapy Packs is forecast to exceed US$995 million by 2020, driven by the rapidly expanding aging population who are most vulnerable to pain and injury, and the shift in nature of medical care towards non-hospital settings.

Hot and cold therapy packs provide care, comfort and convenience to individuals suffering from injuries or pain Cold therapy is usually used in the initial days of injury for reducing swelling, while hot therapy is subsequently given for increasing blood flow and relaxing muscles to minimize pain. The market for hot and cold therapy packs is primarily driven by the rising incidences of injuries and the fast-expanding elderly populace across the globe that are most vulnerable to pain, illness and injury. The market is also witnessing growth on the technological front. In addition to investing in advanced manufacturing technologies, market vendors are also enhancing their online promotional and marketing activities in order to increase brand equity and meet the spiraling demand of online shoppers seeking immediate pain relief.

Future growth in the market will be driven by the rising need to facilitate safe and improved care to patients with pain and injuries. The grim reality of rising occurrence of injuries as a result of increasing neurological disorders, cardiovascular conditions, and diabetes, among other chronic illnesses, is an important growth driver. Spinal cord injury patients also represent major consumers of hot and cold therapy packs. The steady shift towards home-based healthcare in the United States and Europe offers significant growth opportunities. Other important growth drivers include increasing incidence of musculoskeletal conditions such as arthritis, growing number of accidents and sports associated injuries, development of effective hot and cold therapy products providing superior care, comfort, and convenience; surging demand for herbal and reusable hot and cold packs; and untapped opportunities in the developing nations, among others.

As stated by the new market research report on Hot and Cold Therapy Packs, the United States represents the largest market worldwide, closely followed by Europe. However, the constraints on healthcare budgets due to the U.S. fiscal uncertainty and the Euro debt crisis are driving down demand in these developed markets thereby tempering growth in comparison to growth in the developing countries. Asia-Pacific represents the fastest growing market over the analysis period with a projected CAGR of 8.1%. Populous countries such as China and India are witnessing rising demand for pain and injury management solutions thus fuelling demand for hot and cold therapy packs. Economic growth and the corresponding increase in living standards, rising public and personal healthcare spending, and rising aging population, also represent key growth drivers in the region.

Key players covered in the report include 3M Company, Beiersdorf Australia Limited, BREG, Inc., Bruder Healthcare Company, Caldera International, Inc., Cardinal Health, Inc., Carex Health Brands, Core Products International, Inc., DJO Global, Inc., Halyard Health, Inc., Kobayashi Pharmaceutical Co., Ltd., Koolpak Ltd., Medichill, Medline Industries, Inc., Medtronic plc, Modular Thermal Technologies, Inc., Pfizer Incorporated, The Mentholatum Company, and THERA°PEARL, LLC, among others.

The research report titled “Hot and Cold Therapy Packs: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for major geographic markets, including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World. Product segments analyzed in the report include Cold Packs; Hot Packs; Moist Therapy Packs; and Localized Heating/Cooling Pads. 

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