The global heat therapy market reached valuation at US$ 1 Bn in 2020 and predicted to hit over US$ 1.65 billion by 2030, expand at a moderate CAGR of 4.1% from 2021 to 2030.
The global heat therapy market reached valuation at US$ 1 Bn in 2020 and predicted to hit over US$ 1.65 billion by 2030, expand at a moderate CAGR of 4.1% from 2021 to 2030.
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.
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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.
Rise in Prevalence of Arthritis & Other Orthopedic Conditions to Drive Global Market
Increase in prevalence of arthritis & other orthopedic conditions is projected to drive the global heat therapy market during the forecast period. According to the WHO, about 1.71 billion people have musculoskeletal conditions globally, and low back pain affects most of the people with musculoskeletal disorders. Additionally, other musculoskeletal disorders such as osteoarthritis, amputations, fractures, neck pain, rheumatoid arthritis, and other injuries affects around 343 million people, 175 million people, 436 million people, 222 million people, 14 million people, and 305 million people, respectively. The WHO estimates rise in prevalence of musculoskeletal disorders due to an increase in the geriatric population.
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.
Report Highlights
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 heat therapy market in 2020, and the trend is projected to continue during the forecast period. The expansion of the segment can be attributed to increase in rate of adoption of over-the-counter (OTC) heat therapy devices in developing countries and changing healthcare environment from prescription to non-prescription.
In terms of 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 held a major share of the global heat therapy market in 2020. Rise in prevalence of musculoskeletal disorders is expected to drive the segment during the forecast period. According to the WHO, about 1.71 billion people across the world have musculoskeletal conditions in 2020.
Based on end user, the global heat therapy market has been divided into hospitals, online pharmacies, retail pharmacies, ambulatory surgical centers, home care, and clinics. The hospitals segment dominated the market in 2020, owing to a large patient base and budget availability to purchase expensive heat therapy systems.
North America is projected to account for a leading share of the global heat therapy market during the forecast period. Rise in incidence of chronic pain and increase in patient base of arthritis in North America are major factors driving the market in the region. According to the CDC, approximately 7.4% of the adults had chronic pain that frequently limited life or work activities in 2019 in the U.S. The market in Europe is expected to expand at a high CAGR in the near future, owing to the presence of local as well as global players and an increase in the demand for heat therapy devices in the region.
The heat therapy market in Asia Pacific is likely to expand at a rapid pace in the near future. Japan, India, and China are anticipated to be lucrative markets for heat therapy during the forecast period. Presence of large geriatric patient population with severe chronic pain and increase in healthcare expenditure in these countries are likely to propel the market in Asia Pacific in the near future.
Key Players
Key players operating in the global heat therapy market are DJO LLC, ThermoTek Inc., Cardinal Health, CarexHealth Brands, Inc., The Mentholatum Company, Medline Industries, Inc., Halyard Worldwide, Inc., Kobayashi Pharmacuticalco., Ltd, and TrekProof. These companies engage in research & development to develop novel products in order to expand product offerings and customer base. In December 2020, Sunbeam Products, Inc. launched GoHeat Cordless Heating Pad to treat sore muscles and help relieve pain whether at home or on the go.
Market Segmentation
- By Type
- OTC Products
- Packs
- Pads
- Wraps
- Others
- Prescription-based Devices
- OTC Products
- By Application
- Musculoskeletal Disorder
- Sports Medicine
- Post Operative Therapy
- Mastitis
- Chronic Pain Management
- Injury
- Others
- By End User
- Hospitals
- Online pharmacies
- Retail Pharmacies
- Ambulatory Surgical Centers
- Home Care
- Clinics
- By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
- North America
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