Heat Therapy Market
Heat Therapy Market (Type: OTC Products and Prescription-based Devices; Application: Musculoskeletal Disorder, Sports Medicine, Post Operative Therapy, Mastitis, Chronic Pain Management, Injury, and Others; and End User: Hospitals, Online Pharmacies, Retail Pharmacies, Ambulatory Surgical Centers, Home Care, and Clinics) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
Press Release :
Alternate Heat Therapies, Telehealth Help Revive Market Growth
Heat is being suggested as a therapeutic intervention to kill COVID-19 pathogens. Since viruses contained in a lipid membrane or enveloped viruses such as coronavirus and rhinovirus can remain active for long periods in cool and dry conditions, heat has the potential to kill COVID-19 pathogens. Thus, companies in the heat therapy market are capitalizing on this opportunity to revive market during the pandemic. Stakeholders are increasing the availability of saunas, hot springs, hot mud, and sweat lodges to prevent incidences of respiratory tract infections.
Since individuals are limiting their visits to doctors until necessary, manufacturers are taking the advantage of the expansion of telehealth and eCommerce boom during the COVID-19 pandemic. As such, restricted movement of transportation and production activities is likely to affect the growth of the heat therapy market.
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Potential Damage to Inner Muscles by Electric Heating Pads Affects Sales
Electric heating pads are gaining popularity for providing pain relief in shoulders, legs, neck, and back during the winter season. However, its many disadvantages such as damage to inner muscles and risks in blood pressure (BP) patients are affecting sales. Hence, companies in the heat therapy market are increasing awareness to avoid excessive use of electric heating pads in individuals to prevent the rupture of inner muscles and avoid increase of blood flow in the veins of BP patients.
Manufacturers in the heat therapy market are increasing their production of electric heating pads, as there is a growing demand to relax tight muscles. Electric heating pads are being used to decrease pain caused by muscle tension or spasms.
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Innovative Knee, Neck Heat Wraps Equipped with Rechargeable Batteries
The heat therapy market is projected to surpass US$ 1.7 Bn by the end of 2031. This is evident since manufacturers are boosting their output capacities in knee, shoulder, and neck heat wraps. Dhama Innovations Pvt. Ltd. - an India-based specialist in temperature-based wearable electronics, is increasing the availability for knee, shoulder, and neck heat wraps integrated with rechargeable batteries and different temperature settings.
Manufacturers in the heat therapy market are increasing their focus to develop innovative knee heat wraps that are eliminating the need of wires in order to recharge batteries. Different temperature levels in heat wraps are offering increased user comfort.
eCommerce Drives Product Uptake of Heating Pads, Back Wraps
The heat therapy market is expected to clock a CAGR of ~4% during the assessment period. Innovations in heating pads are translating into incremental opportunities for manufacturers. For instance, Sunbeam is expanding its product portfolio in heating pads, heated back wraps, and hot joint wraps to expand their business streams.
The ever-increasing eCommerce sector is creating revenue opportunities for manufacturers in the heat therapy market. Manufacturers are increasing the availability of hands-free wrapping heat pads integrated with fastening straps that help to place the pad directly on the arms and legs. The growing demand for fast heat therapy and soothing pain relief are acting as key drivers for the market.
Heating Pads Offer Sauna-like Heat Therapy for Deep Steam Room-type Relief
The trend of online reviews is either making or breaking the credibility of suppliers and manufacturing companies in the heat therapy market. Manufacturers are innovating in soft, flexible, and machine-washable electric heating pads to meet the convenience of users. Such heating pads are enabling both dry and moist heat therapies.
Companies in the heat therapy market are increasing their R&D capabilities to develop heating pads that deploy high-level heat within 30 seconds. They are incorporating versatile designs in heating pads for the lower back. Uniquely contoured designs in heating pads are being preferred by users to ease pain in lower back and abdomen. Such pads are offering dry and moist sauna-like heat for deep steam room-type relief.
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Telehealth and eCommerce are helping companies in the heat therapy market to continue revenue flow during the COVID-19 outbreak. Manufacturers are increasing the availability of machine-washable electric heating pads to meet convenience of users. However, electric heating pads are not suggested for pregnant women, as it increases the risk of miscarriage in women due to excessive heat exposure to the unborn child. Hence, companies should create awareness to avoid excessive usage of electric heating pads among other target consumers such as BP patients and other individuals to prevent increase in blood flow and damage of the muscles respectively.
Heat Therapy Market: Overview
- This report analyzes the current scenario and future prospects of the global heat therapy market. Rise in prevalence of musculoskeletal disorders, increase in geriatric population, surge in accident cases, and prevalence of disability are key factors that are projected to drive the global heat therapy market during the forecast period.
- The report includes an elaborate executive summary, which provides a snapshot of various segments of the global heat therapy market. It also provides information and data analysis of the heat therapy market with regard to segments based on type, application, end user, and region.
- The overview section of the report provides a detailed qualitative analysis of drivers, restraints, and opportunities that impact the global heat therapy market
- The report includes company profiles, which provide information about their business, product portfolios, and competitive landscape in the global heat therapy market
- The report on the heat therapy market offers market attractiveness analysis of regions and segments
- The last section of the report comprises quantitative and qualitative analyses on market share/position of key players operating in the global heat therapy market. It analyzes key competitive strategies adopted by major industry players, thereby presenting a thorough understanding of the competitive scenario in the global heat therapy market.
Heat Therapy Market: Key Segments
- In terms of type, the global heat therapy market has been classified into OTC products and prescription-based devices. The OTC products segment dominated the global market in 2020, owing to an increase in adoption of OTC heat therapy devices in the industry.
- Based on application, the global heat therapy market has been categorized into musculoskeletal disorder, sports medicine, post operative therapy, mastitis, chronic pain management, injury, and others. The musculoskeletal disorder segment dominated the global market in 2020, owing to high prevalence of musculoskeletal disorders worldwide.
- In terms of end user, the global heat therapy market has been divided into hospitals, online pharmacies, retail pharmacies, ambulatory surgical centers, home care, and clinics. The home care segment is expected to expand at a high CAGR from 2021 to 2031 due to the availability of a large number of easy-to-use and more efficient OTC heat therapy devices in the industry.
- Market size and forecast for each of these segments have been provided from 2017 to 2031. The CAGR of respective segment has also been provided from 2021 to 2031, considering 2020 as the base year.
Heat Therapy Market: Regional Outlook
- In terms of region, the global heat therapy market has been segmented into North America (the U.S. and Canada), Europe (the U.K., Germany, Spain, Italy, France, and Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa). Each region considered in the market has been further divided into countries/sub-regions.
- The heat therapy market report provides size and forecast for each region and country/sub-region from 2017 to 2031. The CAGR for each of these regions and countries has also been provided for the forecast period from 2021 to 2031. The heat therapy market study also covers the competitive scenario in these regions.
Companies Covered in Heat Therapy Market Report
- Key players in the global heat therapy market have been profiled based on attributes such as company overview, product portfolio, financial overview, recent developments, and competitive business strategies
- Major companies profiled in the heat therapy market report are
- DJO LLC
- Thermo Tek Inc.
- Cardinal Health
- CarexHealth Brands, Inc.
- The Mentholatum Company
- Medline Industries, Inc.
- Halyard Worldwide, Inc.
- Kobayashi Pharmacuticalco., Ltd
Heat Therapy Market – Scope of the Report
TMR’s report on the global heat therapy market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2021 to 2031. The report provides revenue of the global heat therapy market for the period 2017–2031, considering 2020 as the base year and 2031 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global heat therapy market during the forecast period.
The report has been prepared after primary and secondary researches. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global heat therapy market.
Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various phenomenon in the global heat therapy market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global heat therapy market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global heat therapy market.
The report delves into the competitive landscape of the global heat therapy market. Key players operating in the global heat therapy market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global heat therapy market that have been profiled in this report.
Key Questions Answered in Heat Therapy Market Report
- What are the major drivers, restraints, and opportunities in the market?
- What will be the Y-o-Y growth of the global heat therapy market between 2021 and 2031?
- What are the revenue share projections of key segments of the global heat therapy market during the forecast period?
- Will North America continue to be the most profitable market for heat therapy treatment?
- Which factors are anticipated to hamper the global heat therapy market during the forecast period?
- Which are the leading companies in the global heat therapy market?
A unique methodology has been utilized by TMR to conduct comprehensive research on the growth of the global heat therapy market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary research sources referred to by analysts during the production of the global heat therapy market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the heat therapy market as primary methods.
These primary research respondents have provided exclusive information during interviews, which serves as a validation from the heat therapy market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global heat therapy market with accuracy. The study also uses the top-down approach to assess the revenue of each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global heat therapy more reliably and accurately.
Heat Therapy Market – Segmentation