Hot and Cold Therapy Packs Market to Witness an Outstanding Growth by 2024
Hot and cold therapies are considered one of the easiest, effective, and least expensive treatment to relieve pain and swelling in different parts of the body. These are rational, passive, non-invasive forms of therapy to manage pain. Heat therapy leads to vasodilation, which in turn increases the blood flow in the affected tissues. The rise in blood flow in the target area provides required oxygen and other nutrients, thus accelerating the healing process, while the heat reduces muscle spasm and relaxes stretched muscles leading to pain relief. Heat or thermotherapy is generally used to treat chronic pain such as low back pain, spinal, neck pain, neuropathic pain, and other muscular spasms. Cold therapy or cryotherapy calms down damaged tissues, causes vasoconstriction, which reduces blood circulation and also numbs the nerves decreasing inflammation, pain, and muscle spasm. Cold or cryotherapy is generally used to treat acute pain caused due to injuries such as runner’s knee and freshly pulled muscle.
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The global hot and cold therapy packs market is anticipated to be driven by a number of factors such as steep growth in chronic musculoskeletal disorders, increase in global trauma and accident cases, and rise in inclination for non-invasive pain management approaches. Increase in the geriatric population vulnerable to chronic illnesses is also escalating demand for hot and cold therapy packs globally. A report published by the Population Division of the Department of Economic and Social Affairs of the United Nations (UN) in 2013 stated that the number of elderly persons (aged 60 years and above) is estimated to more than double, from 841 million in 2013 to over 2 billion in 2050. In addition, growing stress and unhealthy lifestyles leading to increase in number of patients with neck, back, shoulder, and spinal problems is expected to drive the market. Furthermore, increasing research and development activities by key players to develop new products is likely to boost market growth.
In terms of product, the hot and cold therapy packs market can be divided into dry and moist hot and cold packs or compresses, gel packs, and instant electric hot/cold packs. These are used to manage various conditions including back/spinal problems, neck problems, joint problems, arthritis, neuropathic pain, and surgery. Increasing incidence of lifestyle related disorders is one of the major drivers of the hot and cold therapy packs market. Moreover, increasing inclination toward home care products and growing online marketing of such products is expected to boost the market during the forecast period. Advancements in product technology such as cold/hot wrap fused with knee braces or back support belts are also expected to increase demand in the near future.
Geographically, the hot and cold therapy packs market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominates the market due to large pool of patients with musculoskeletal disorders in the region. According to the Centers for Disease Control and Prevention (CDC), over 53 million people in the U.S. are currently affected by arthritis. It is a primary cause of disability in the country and affects more than 1 in 5 people, making it one of the most common chronic conditions in the nation. Additionally, launch of new and advanced products by key players coupled with growing online promotion and sales of these products by customers is expected to drive the market. Developing nations in Asia Pacific are expected to witness the fastest growth during the forecast period. Rising patient pool, growing public awareness about home care, and increasing affordability are the major drivers of the market in these regions.
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Key players in the hot and cold therapy packs market include 3M Company, Breg, Inc., Cardinal Health, Inc., Carex Health Brands, Halyard Health, Medline Industries, Inc., Medtronic plc, and Pfizer, Inc.
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