Hot and Cold Therapy Packs Market By Product Type (Therapy Pads, Gel Packs, Instant Packs, And Other), By Application (Chronic Pain Management, Injury/Accident, Pain Management, And Other Applications) - Forecast To 2029
13th September 2019
The global & US hot and cold therapy packs market is expected to be valued at approximately US$ 0.9 Bn in 2020. The target market is projected to witness a CAGR of 6.8% in terms of value over the forecast period. The global & US hot and cold therapy packs market has been segmented on the basis of product type, therapy, application, and distribution channel. Historical quantitative data is also included in this report from 2013.
Hot and Cold Therapy Packs: Introduction
Hot and cold therapy packs are used for patients with bone and tissue-related disorders and diseases, and are used to reduce swelling, improve blood circulation, enhance muscle relaxation and provide comfort to patients suffering from pain caused due to injury or other causes. This type of therapy is non-invasive, highly effective, cost-effective, and considered among some of the easiest and safest modes of treatment to get relief. Heat therapy helps to dilate blood vessels, which results in increasing blood flow in the affected areas. This enables provision of adequate amounts of oxygen and required nutrients to the target area, which also helps to accelerate the healing process. Heat therapy can aid in reducing muscle spasms and offers pain relief. Heat therapy is ideally used to treat neuropathic pain, chronic spinal and neck pain, lower back pain, and muscular spasms. Cold therapy (cryotherapy) helps in healing damaged tissue by narrowing blood vessels, in what is known as the vasoconstriction process, which helps to lower the blood circulation process and numb the nerves. This helps to reduce muscle spasms, inflammation, and pain. Cold therapy is generally used to get relief from acute pain caused by injuries, including muscle-pull, runner’s knee, etc.
Global & US Hot and Cold Therapy Packs Market: Dynamics
The target market is expected to be majorly driven by factors such as increasing prevalence of chronic and acute musculoskeletal disorders, rising number of cases associated with accidents, trauma, and other mishaps, coupled with growing inclination towards non-addictive, non-invasive, and non-surgical pain-relief therapies. In 2016 for instance, as per a report by the Centers for Disease Control and Prevention (CDC), around 53 Mn individuals in the US suffered from arthritis or some other bone-related disorders and diseases caused due to minor injuries and high physical stress. In addition, members of the geriatric population are more vulnerable to musculoskeletal disorders and chronic illnesses. This coupled with increasing elderly population are among other major factors expected to augment demand for hot and cold therapy packs in the global market. In 2013 for instance, as per a published report by Population Division of the Department of Economic and Social Affairs of the United Nations, the elderly population aged 60 years and above is projected to increase to over 2 Billion in 2050, from 841 Million in 2013.
In addition, hectic and unhealthy lifestyle, long or stressful working schedules, increasing stress levels, and others are expected to lead to increasing prevalence of pain and trauma related to neck, upper back and lower back, shoulders, and shoulder blades, collar bone, and spine. This is an additional factor projected to drive demand for hot and cold therapy packs for pain management. Additionally, increasing investments by major players in R&D activities to develop innovation and novel products is projected to augment market growth to a significant extent. Inclining economic growth, improving standards of living, increasing spending on personal healthcare and wellness, rising prevalence of obesity, arthritis, and osteoporosis are among other factors expected to boost growth of the global hot and cold therapy packs market. Increasing number of sport-related injuries and rising demand for portable packs for instant relief and treatment in the arena of sports activities is another factor projected to fuel growth of the global hot and cold therapy packs market.
However, easy availability of other substitutes and treatments such as reusable packs and herbal packs, massages, heat sprays, balms, gels, vibratory massagers, and other remedies is a major factor that could challenge global market growth to a certain extent.
Global & US Hot and Cold Therapy Packs Market Insights, by Product Type:
The gel packs segment is expected to record highest share in terms of revenue in the target market. The instant packs segment is projected to register a significantly higher CAGR over the 10-year forecast period.
Global & US Hot and Cold Therapy Packs Market Insights, by Application:
The chronic pain management segment is estimated to record largest revenue share in the target market, and is projected to continue to account for largest revenue share over the 10-year forecast period. Rising demand for therapy packs for pain management, especially among elderly people, is among the key factors driving segment growth. The injury/ accident segment is projected to witness highest growth rate over the next 10 years due to increasing number of accidents and mishaps globally.
Global & US Hot and Cold Therapy Packs Market Insights, by Distribution Channel:
The hospital pharmacies segment is projected to account for largest revenue contribution in the market due to higher number of patients admitted in private and public hospitals annually, and rising need for therapy packs for patients with bone, tissue, and muscle-related disorders. The online pharmacies segment is projected to record the highest CAGR of over 6% in terms of revenue in the target market over the 10-year forecast period.
Global & US Hot and Cold Therapy Packs Market Segmentation:
Segmentation by Product Type:
- Therapy Pads
- Gel Packs
- Instant Packs
- Other Product Types
Segmentation by Therapy:
- Hot & Cold
Segmentation by Application:
- Chronic Pain Management
- Pain Management
- Other Applications
Segmentation by Distribution Channel:
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies
- 3M Company
- Beiersdorf Australia Ltd.
- Breg, Inc.
- Bruder Healthcare Company, Inc.
- Caldera International, Inc.
- Cardinal Health
- Carex Health Brands
- Chattanooga Group, Inc.
- Core Products International, Inc.
- Corso Enterprises, Inc.
- Covidien plc
- DJO Global, Inc.
- EmployAbility, Inc.
- Halyard Health, Inc.
- Kobayashi Pharmaceutical Co., Ltd.
- Medline Industries, Inc.
- Modular Thermal Technologies, Inc.
- Pfizer, Inc.
- The Mentholatum Company
- Thermionics Corp.
- Chapter 1 Global & US Hot and Cold Therapy Packs Market Overview
- 1.1 Introduction
- 1.2 Taxonomy
- 1.2.1 By Therapy, Product Type, Application & Distribution Channel
- 1.3 Drivers for Hot and Cold Therapy Packs Market
- 1.4 Restraints for Hot and Cold Therapy Packs Market
- 1.5 Opportunities for Hot and Cold Therapy Packs Market
- 1.6 Trends for Hot and Cold Therapy Packs Market
- 1.7 Macro-economic Factors
- 1.8 Regulatory Framework
- 1.9 Global & US Hot and Cold Therapy Packs Market Pricing Analysis by Region, 2018
- 1.10 Opportunity Map Analysis
- 1.11 Oppurtunity Orbits
- 1.12 Market Investment Feasibility Index
- 1.13 PEST Analysis
- 1.14 PORTER’S Five Force Analysis
- 1.15 Drivers & Restraints Impact Analysis
- 1.16 Marketing Strategy
- 1.17 Product Life Cycle Analysis
- 1.18 Value Chain Analysis
- 1.19 Cost Structure Analysis
- 1.20 Regional Market Share and BPS Analysis in Hot and Cold Therapy Packs Market
- Chapter 2 Global Hot and Cold Therapy Packs Market Overview
- 2.1 Global Hot and Cold Therapy Packs Market Value Comparison by Product Type (2012-2028)
- 2.2 Global Hot and Cold Therapy Packs Market by Application
- 2.4 Global Hot and Cold Therapy Packs Market Outlook (2012-2028)
- 2.5 Global Hot and Cold Therapy Packs Market Y-o-Y Growth Rate Comparison 2013–2028
- Chapter 3 The US Hot and Cold Therapy Packs Market Overview
- 3.1 The US Hot and Cold Therapy Packs Market by Product Type
- 3.2 The US Hot and Cold Therapy Packs Market by Application
- 3.4 The US Hot and Cold Therapy Packs Market Outlook (2012-2028)
- 3.8 The US Hot and Cold Therapy Packs Market Y-o-Y Growth Rate Comparison 2013–2028
- Chapter 4 Global & US Hot and Cold Therapy Packs Market Company Profiles
- 4.1 Market Competition Scenario Analysis, By Company
- 4.2 Competitor Landscape
- 4.3 Company Share Analysis
- 4.4 Company Profiles
- 4.4.1 3M
- 22.214.171.124 Company Overview
- 126.96.36.199 Business Description
- 188.8.131.52 Product Portfolio
- 184.108.40.206 Key Financials
- 220.127.116.11 Key Developments
- 4.4.2 Beiersdorf Australia Ltd.
- 4.4.3 Breg Inc.
- 4.4.4 Bruder Healthcare Company, Inc.
- 4.4.5 Caldera International, Inc.
- 4.4.6 Cardinal Health
- 4.4.7 Carex Health Brands
- 4.4.8 Chattanooga Group, Inc.
- 4.4.9 Core Products International, Inc.
- 4.4.10 Corso Enterprises, Inc.
- 4.4.11 DJO Global, Inc.
- 4.4.12 EmployAbility, Inc.
- 4.4.13 Halyard Health, Inc.
- 4.4.14 Kobayashi Pharmaceutical Co., Ltd.
- 4.4.15 Medline Industries, Inc.
- 4.4.16 Modular Thermal Technologies, Inc.
- 4.4.17 Pfizer, Inc.
- 4.4.18 The Mentholatum Company
- 4.4.1 3M
- Chapter 5 Research Methodology
- 5.1 Research Methodology
- 5.2 Primary Research
- 5.3 Secondary Research
- 5.4 Report Scope
- Chapter 6 About Us
- 6.1 Who we are
- Chapter 1 Global & US Hot and Cold Therapy Packs Market Overview
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Secondary Research: An exhaustive secondary research is carried through both paid and free sources. It involves understanding critical data related to the market. Sources for secondary research include: Government websites Industry Associations Trade & Research Journals Company websites (annual reports, press releases, product brochures, etc. Import-Export Data Factiva, Morningstar, etc. Primary Research: Extensive interviews are held with key market participants through email interactions, online surveys, paid telephonic interviews, face-to-face interviews, etc., to gain a perspective on the market conditions, trends, developments, challenges, etc. Sources for primary research include: CXOs, Global Heads, VPs, Sales/ Purchase/ Product Managers of Key Market Players Distributors, Wholesalers, Retailers, Vendors of Products and Services End-Users belonging to each application industry
Key Opinion Leaders (KOL) and Industry Experts: are credible, well-respected influencers in each industry with proven expertise and thought-leadership in the particular field, with a sound knowledge of the industry. We validate our initial research findings with these experts and try to understand their aspect to gain a deeper understanding of the current market trends, competitive landscape, market scope, disruptive technologies, etc. This helps us validate and strengthen our research findings, enhance the team’s expertise, and offer a clear understanding of the target market. All possible factors that influence the market are taken into consideration, such as: Capacity and Production Average Selling Price Total Customer Base Regulatory and Policy Changes Economic factors – Population, GDP, GDP Growth Rate, Inflation, Investments, etc
Triangulation and Analysis: Post collection of the data from all sources and validation from industry experts, we triangulate the market with both a top-down and bottom-up approaches to eliminate any margin for errors. These methods aid us in estimating the market size, market share of manufacturers, regions segments, product segments and applications (end users). In-house Data Modeling Tool: our proprietary data modeling tool is designed to apply a combination of methods to provide accurate market size with the historical and forecasted data and growth rates. The percentage splits, Market Share (%), and breakdowns of the product segments are derived based on weightage assigned to each of the segments based on their utilization rate and average sale price. The regional splits of the overall target market and its sub-segments are based on the given product's percentage adoption or penetration rate in the respective region or country.
Final Presentation: After the triangulation and analysis, we derive the market engineering data with the breakdown for all product segments, applications, and regions. The final report, along with the market dynamics, key USPs of the market are presented in a graphical and tabular format to provide a clear understanding to the client and provide a quick snapshot regarding the market, with the additional data to support the market estimations. .
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