The Global Market for Hot and Cold Therapy Packs is Projected to Reach US$1.3 Billion by 2024

Growing Emphasis on Non-Drug Pain Treatment to Drive the 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 size, share and demand forecasts on the global Hot and Cold Therapy Packs market. The global market for Hot and Cold Therapy Packs is projected to reach US$1.3 billion by 2024, driven by aging population and associated conditions, increasing incidents of injuries, and growing preference for non-drug treatment of pain. 

Hot and cold therapy packs provide care, comfort and convenience to individuals suffering from injuries or pain. Hot and cold therapies are considered the quickest, safest, least expensive and effective treatment options available. Aging population, increasing incidence of injuries due to various factors including sports and recreation, and growing inclination towards non-addictive and non-invasive therapies is driving the market for hot and cold therapy. Rising healthcare costs and growing preference to reduce hospital visits are driving demand for this conventional, non-drug treatment of pain. Growing incidence of chronic rheumatic conditions such as rheumatoid arthritis, osteoarthritis, osteoporosis, spinal disorders, and severe limb trauma, and rising incidence of sports relate injuries are the major key drivers of the market.

Development of effective hot and cold therapy products providing superior care, comfort and convenience, driven by technological advances, is boosting market adoption. 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. Increasing availability and access to information on the Internet on hot and cold therapy alongside increasing retailing of these products online are also fueling market growth. Increasing popularity of herbal products bodes well for the market, against the backdrop of factors such as non-toxic, economical, simple and no/limited side effects. Cold Packs lead the market, while localized heating/cooling pads are witnessing growing consumer preference. Cold therapy is employed in the early stage of sports injury for preventing swelling, cooling tissue temperature, relieving pain immediately and preventing further tissue damage. Ability to offer relied in back pain, muscle strains, sacro iliac joint pain, slipped disc, facet syndrome, and pains in other body areas is driving demand for hot packs

As stated by the new market research report on Hot and Cold Therapy Packs, The U.S. represents the largest market worldwide. The steady shift towards home-based healthcare in the developed markets such as the US and Europe are offering significant traction to the market. Higher sporting and recreational activities, and growing geriatric population alongside well established and advanced practices in sports medicine are the key factors leading to higher demand. Untapped opportunities are expected to drive growth in developing nations. Asia-Pacific represents the fastest growing market worldwide, with a CAGR of 9.4% through the analysis period.

Major players in the market 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., Life Wear Technologies, Inc., Medichill, Medline Industries, Inc., Medtronic plc, 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, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for Hot and Cold Therapy Packs  in value terms for all major geographic markets such as 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 include Cold Packs, Hot Packs, Moist Therapy Packs and Localized Heating/Cooling Pads.

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