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Global Hot and Cold Therapy Packs Market 2019-2023

  • Published: Jul 2019
  • Pages: 143
  • SKU: IRTNTR31738
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The global hot and cold therapy packs market size will grow by USD 420.56 million during 2019-2023. This market report provides a detailed analysis of the market by product (cold therapy packs and hot therapy packs), application (arthritis, injury, chronic pain, and others), and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on many market vendors, including 3M Co., Cardinal Health Inc., Colfax Corp., Medline Industries Inc., Orthofix Holdings Inc., and Pfizer Inc.

Some of the key findings from our hot and cold therapy packs market forecast report are summarized below

Hot and Cold Therapy Packs Market

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Global Hot and Cold Therapy Packs Industry Overview

Sports participants often encounter sprains and wear and tear of tissues, which lead to swelling and spasms. For immediate relief, hot and cold therapy packs are administered for pain relief and to reduce swelling. Since sports participation has notably increased in the past few years, sports-related injuries have also augmented. As a result, the sales of hot and cold therapy packs have increased. In the US, rising chronic overuse injuries are creating a significant demand for hot and cold therapy packs. Therefore, the rising number of sports-related injuries will significantly drive the global hot and cold therapy packs market growth over the forecast period. The market is expected to record a CAGR of about 8% during the forecast period.

The rising awareness of the side-effects of pain relief drugs and invasive therapies is increasing the demand for non-invasive pain relief therapies. Most of the drugs have opioids for pain management. The consumption of opioids leads to drowsiness, dizziness, respiratory depression, and persistent constipation. Also, invasive pain relief surgeries such as injections and surgeries may cause, infection, paralysis, or damage of nerve/spinal cord. On the other hand, non-invasive pain relief methods are ideal for everyone and do not involve hospital stays, invasive scars, and side-effects. They are also less costly than invasive therapies. Therefore, the demand for non-invasive pain relief methods such as hot and cold therapy packs, electrotherapy, and physiotherapy is increasing. As a result, vendors are recording increased sales. Therefore, the growing use of non-invasive and non-addictive pain relief therapies is one of the key hot and cold therapy packs market trends. The trend will contribute to market growth during the forecast period.

Top Hot and Cold Therapy Packs Companies Covered in this Market Research Report

The global hot and cold therapy packs market is fragmented. To help clients improve their market positions, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. This hot and cold therapy packs market research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities.

The report offers a detailed analysis of several leading hot and cold therapy packs manufacturers, including:

  • 3M Co.
  • Cardinal Health Inc.
  • Colfax Corp.
  • Medline Industries Inc.
  • Orthofix Holdings Inc.
  • Pfizer Inc.

Hot and Cold Therapy Packs Market Segmentation Based on Product

  • Cold therapy packs
  • Hot therapy packs

The cold therapy packs segment held the largest market share in 2018. It will account for the highest global hot and cold therapy packs market share over the forecast period. Quick-relief action, long-lasting effect, and a significant reduction in swelling are expected to boost the demand for cold therapy packs during the forthcoming years. This report provides an accurate prediction of the contribution of all the segments to the growth of the hot and cold therapy packs market size.

Hot and Cold Therapy Packs Market Segmentation Based on Geographic Region

  • Asia
  • Europe
  • North America
  • ROW

With a complete study of the growth opportunities for the companies, it has been identified that North America will account for the highest share of the hot and cold therapy packs market throughout the forecast period. Factors such as increasing geriatric population who are susceptible to injuries, rising annual participation of children and teenagers in sports, and growing incidence of arthritis are contributing to the hot and cold therapy packs market growth in the region.

Key Highlights of the Global Hot and Cold Therapy Packs Market for the Forecast Years 2019-2023

  • CAGR of the market during the forecast period 2019-2023
  • Detailed information on factors that will decelerate the growth of the hot and cold therapy packs market during the next five years
  • Precise estimation of the global hot and cold therapy packs market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the hot and cold therapy packs industry across Asia, Europe, North America, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on several vendors
  • Comprehensive details of factors that will challenge the growth of hot and cold therapy packs companies

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY PRODUCT

  • Market segmentation by product
  • Comparison by product
  • Cold therapy packs - Market size and forecast 2018-2023
  • Hot therapy packs - Market size and forecast 2018-2023
  • Market opportunity by product

PART 07: MARKET SEGMENTATION BY APPLICATION

  • Market segmentation by application
  • Comparison by application
  • Arthritis - Market size and forecast 2018-2023
  • Injury - Market size and forecast 2018-2023
  • Chronic pain - Market size and forecast 2018-2023
  • Others - Market size and forecast 2018-2023
  • Market opportunity by application

PART 08: CUSTOMER LANDSCAPE

PART 09: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2018-2023
  • Europe - Market size and forecast 2018-2023
  • Asia - Market size and forecast 2018-2023
  • ROW - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity

PART 10: DECISION FRAMEWORK

PART 11: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 12: MARKET TRENDS

  • Growing use of non-invasive and non-addictive pain relief therapies
  • Huge growth potential of the market in emerging economies
  • Increasing healthcare spending

PART 13: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption

PART 14: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • 3M Co.
  • Cardinal Health Inc.
  • Colfax Corp.
  • Medline Industries Inc.
  • Orthofix Holdings Inc.
  • Pfizer Inc.

PART 15: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 16: EXPLORE TECHNAVIO

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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