Global Localized Temperature Therapy Products Market Overview:
Localized temperature therapy products use temperature to treat pain, arthritis, and chronic pain. The temperatures are applied through various hot and cold products such as gel packs. The use of these products has numerous advantages in clinical areas such as pain relief, improved blood circulation and reduction of swelling, removal of waste, and toxins. The increasing sedentary work life and lack of exercise that lead to obesity add to the pain in various parts of the body and drive the demand for localized temperature therapy products. In addition, the cost-effectiveness associated with using localized therapy products increases consumer preference, which the market growth supports. However, side effects such as inflammation and swelling from abuse are hampering the growth of the market.
As per latest study released by AMA Research, the Global Localized Temperature Therapy Products market is expected to see growth rate of 5.7%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The Increasing Use of Disposable Products Has Been an Enabler to Growth in the Industry, The Low Cost of Products Such As Heating Therapy Pads Are Finding Popularity, Especially In Low-Resource, Healthcare Settings and Increasing Bias of Patients towards Non-Surgical, Pharma Free Solutions
Market Growth Drivers:
Issues Arising From Ailments Such As Arthritis, And For Management of Hypothermia among Others, The Vast Global Geriatric Population, Who Are More Prone To Osteoporosis and Arthritis Are Preferring Localized Temperature Therapy Products and Rising Interest from Pharmaceutical Manufacturers, For Pain Management Solutions Aimed Towards Geriatrics
Challenges:
Localized Heat Therapies Can Increase Inflammation and Swelling in Cases of Misuse
Restraints:
Heat Therapies Are Ineffective Immediately After Physical Activity, Owing To Higher Body Temperatures and Growing Competition from Herbal Pain Relief Products and the Growing Popularity of Reusable Packs Are Reducing the Sales Prospects
Opportunities:
Industry Is Likely To Accrue Lucrative Opportunities during the Ongoing Coronavirus Crisis, With Potential for Heat Therapy Solutions for Therapeutic Applications in Treatment
Competitive Landscape:
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail of competitive advantage through combined collaborations.
Some of the key players profiled in the report are Medtronic plc (Ireland), Cardinal Health (United States), Medline Industries Inc. (United States), Cincinnati Sub Zero Products, LLC (United States), B.u.W. Schmidt GmbH (Germany), Pic Solution (United States), Rapid Aid Corp. (Canada), Macon & Company Inc. (United States), Adroit Medical Systems (United States), Advanced Home Care (United States), Life Wear Technologies (United States), The Metholatum Company (United States) and Core Products International Inc. (United States). Additionally, following companies can also be profiled that are part of our coverage like Carex Health Breg Inc. (United States) and Kobayashi Pharmaceutical Co. Inc. (Japan). Analyst at AMA Research see United States Players to retain maximum share of Global Localized Temperature Therapy Products market by 2030. Considering Market by Disease Type, the sub-segment i.e. Osteoporosis will boost the Localized Temperature Therapy Products market. Considering Market by Distribution Channel, the sub-segment i.e. Hospital Pharmacies will boost the Localized Temperature Therapy Products market.
Latest Market Insights:
In February 2022, Medline entered into a prime vendor partnership with The University of Kansas Health System. As the system’s primary supplier, Medline may exclusively distribute an extensive portfolio of essential medical supplies and solutions across the health system’s five acute care hospital facilities.
In June 2019, Mölnlycke and Zuellig Pharma strengthen partnerships for advanced wound care solutions in South East Asia.
What Can be Explored with the Localized Temperature Therapy Products Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Localized Temperature Therapy Products Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Localized Temperature Therapy Products
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Localized Temperature Therapy Products market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Localized Temperature Therapy Products market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Providers of Localized Temperature Therapy Products, End-Users, Private Research Organizations, Potential Investors and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.