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.
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.
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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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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