Hot and cold therapy packs market is expected to grow at 10.0% by 2030. Hot and cold therapy packs are medical products that provide comfort from pain arising through injury or other causes. The global market for hot and cold therapy packs is driven by growth in injury incidences resulting in pain, rise in geriatric population, and preference for non-invasive pain management methods. Development in manufacturing technologies and online vending have also facilitated the growth of this market. The future growth of hot and cold packs market will be determined by the need for safer pain management modalities as against pharmaceuticals. Growth in chronic and restricting illnesses is another prime driver of this market. Populous countries form the largest markets for these products.
Cold Packs are Dominating the Market
The cold packs segment currently dominates the overall hot and cold therapy packs market, as it is the first line of treatment for injuries and the most effective pain relief treatment. It is used to relieve pain, inflammation, and swelling due to injury or other conditions. Moist heat therapy is preferred over dry heat therapy due to advantages over dry therapy such as increase in the tissue elasticity and less skin irritation and deep penetration into the skin. Localized heating and cooling pads are the fastest-growing market, due to factors such as ease of use, portability, use of electrical power to regulate the temperature and competitive costs.
The largest market holder: North America
North America was observed as the largest market for hot and cold therapy packs in the base year 2021. North America dominated the market due to aging population, advanced sports medicine practices, and initiatives in the U.S. and Canada. Asia Pacific was observed as an attractive market in the hot and cold therapy packs market due to emerging healthcare infrastructure, rising awareness about the non-surgical pain management techniques and rising disposable income in the countries like China, India, and Australia.
Market Competition Assessment:
The leading key players in the hot and cold therapy packs market are Caldera International, Inc. Cardinal Health, Kobayashi Pharmaceutical Co. Ltd. Halyard Health, Chattanooga Group, Inc. 3M Company, and others.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Hot And Cold Therapy Packs market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
