Heat Therapy Market to Gain Revenue from Massive Demand for Products in Managing Musculoskeletal Disorders, Valuation to Exceed US$ 1.7 Bn by 2031: TMR Study

Growing popularity of knee and neck heat wraps with rechargeable batteries to propel sales revenues in heat therapy market

Manufacturers focusing on user comfort and convenience to meet rising demand for OTC heat therapy devices for home care

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Transparency Market Research

Jan 17, 2022, 08:30 ET

ALBANY, N.Y., Jan. 17, 2022 /PRNewswire/ -- Heat therapy products have been widely popularized for pain relief in a range of musculoskeletal disorders and in sports medicine. The growing awareness about the effectiveness of knee and neck heat wraps in chronic pain management is driving revenue gains to companies in the heat therapy market. The global valuation is projected to advance at CAGR of 4.2% from 2021 to 2031 (forecast period).

Rapidly evolving telehealth practices has accelerated the growth prospects of the heat therapy products market. Manufacturers are keenly equipping hot pads and compresses with features that improve user comfort and convenience, thus extending the avenue, concurs analysts in an in-depth study on the heat therapy market.

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The popularity of machine-washable and electric hands-free wrapping heat pads and likely to spur revenue generation in the next few years. Hospitals have been a lucrative end user for players in the heat therapy market, finds the TMR study. The demand for advanced devices and a large target customer base is propelling the prospects. Continuous innovation in heat therapy devices has led to introduction of products that offer comparable benefits to users comparable to steam rooms and saunas.

Key Findings of Heat Therapy Market Study

Electric Heating Pads to Gather Traction for Managing Musculoskeletal Disorders: Companies in the heat therapy market have gained substantive revenue gains from the rise in demand for electric heating pads relieving contractures, spasms, and chronic pain. Electric heat pads have emerged as a convenient technology for managing these musculoskeletal conditions.

On the other hand, manufacturers in the heat therapy market are leaning on raising awareness about making discerning use of electric heating pads in a bid to prevent damage to inner muscles and risks from excessive use in certain patient cohorts.

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Sales of OTC Products Spurs Revenue Growth: The OTC products held the leading share of the global heat therapy market. Rise in demand for OTC heat therapy devices for home care over the past few years has spurred the revenue generation.

Technological Advancements in Knee and Neck Heat Wraps to Propel Prospects: Continuous product advancements in the heat therapy market especially pertain to increasing user comfort and convenience in knee and neck heat wraps to tap into the massive demand for these products. The introduction of therapeutic heat wraps that are equipped with rechargeable batteries has boosted the market outlook. Additionally, the option of varying the temperature level has attracted users, thereby enriching the sales prospects of products in the heat therapy market.

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Heat Therapy Market Study: Drivers

The high worldwide prevalence of musculoskeletal conditions is a key driver of the heat therapy market. Especially in elderly population, musculoskeletal disorders pose a large health burden. Expected rise in disability associated with musculoskeletal condition in the next few years will thus propel the market prospects.
Strides being made by the e-commerce sector have extended the avenue for commercialization of products, assert the analysts in the TMR study on the heat therapy market.

Heat Therapy Market Study: Regional Dynamics

North America held a major share of the global heat therapy market in 2020. Prevalence of chronic pain and continuous launch of technologically advanced devices are propelling the heat therapy market prospects.
Opportunities in the Asia Pacific market are projected to rise at rapid growth rate during the forecast period. Japan, India, and China are expected to witness remarkably lucrative countries. A rapidly aging population is one of the key trends spurring the prospects.

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Heat Therapy Market Study: Key Players

Some of the key players in the heat therapy market are:

Thermo Tek Inc.
DJO LLC
Cardinal Health
The Mentholatum Company
CarexHealth Brands, Inc.
Halyard Worldwide, Inc.
Kobayashi Pharmacuticalco., Ltd
Medline Industries, Inc.

Global Heat Therapy Market: Segmentation

Heat Therapy Market, by Type

OTC Products

Packs
Pads
Wraps
Others

Prescription-based Devices

Heat Therapy Market, by Application

Musculoskeletal Disorder
Sports Medicine
Post Operative Therapy
Mastitis
Chronic Pain Management
Injury
Others

Heat Therapy Market, by End User

Hospitals
Online pharmacies
Retail Pharmacies
Ambulatory Surgical Centers
Home Care
Clinics

Heat Therapy Market, 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

Brazil
Mexico
Rest of Latin America

Middle East & Africa

GCC Countries
South Africa
Rest of Middle East & Africa

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