Global Hot and Cold Therapy Packs Market 2019-2023 | 8% CAGR Projection Over the Next Five Years | Technavio

Technavio has announced its latest market research report titled global hot and cold therapy packs market 2019-2023. (Graphic: Business Wire)

LONDON--()--The global hot and cold therapy packs market is expected to post a CAGR of close to 8% during the period 2019-2023, according to the latest market research report by Technavio.

The rising awareness about the positive effects of sports on physical and mental fitness has led to a significant increase in participating in sports activities. Along with the rising participation, the number of sports-related injuries is also increasing at a significant rate. Such injuries occur due to contact or noncontact mechanisms and can be acute in nature. Hot and cold packs are increasingly being used for the treatment of sports injuries, as they offer benefits such as pain relief, tissue repair, and reduction in swelling and spasms. Thus, the increasing number of sports-related injuries will fuel the market growth during the forecast period.

As per Technavio, the growing use of non-invasive and non-addictive pain relief therapies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global hot and cold therapy packs market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Hot and Cold Therapy Packs Market: Growing Use of Non-Invasive and Non-Addictive Pain Relief Therapies

The preference for non-invasive therapies is increasing, as they do not require any hospital stays, do not involve invasive scars, and are affordable. Furthermore, there is a significant increase in the adoption of non-addictive pain relief therapies because they are safer than addictive pain relief therapies and are equally effective. Thus, hot and cold therapy packs are the ideal option for pain relief. Hence, the growing use of non-invasive therapies will fuel the growth of the hot and cold therapy packs market during the forecast period.

“Apart from the growing use of non-invasive and non-addictive pain relief therapies, other factors such as the increase in healthcare spending, and the growing aging population will have a significant impact on the growth of the hot and cold therapy packs market value during the forecast period,” says a senior analyst at Technavio.

Global Hot and cold therapy packs Market: Segmentation Analysis

This market research report segments the global hot and cold therapy packs market worth by product (cold therapy packs, and hot therapy packs), application (arthritis, injury, chronic pain, and others) and geographic regions (North America, Europe, Asia, and ROW).

The North American region led the hot and cold therapy packs market in 2018, followed by Europe, Asia, and ROW, respectively. The hot and cold therapy packs market analysis report identifies factors such as the increasing incidence of sports injuries, growing geriatric population, and increasing prevalence of arthritis to fuel market growth in North America during the forecast period.

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Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The global hot and cold therapy packs market is expected to post a CAGR of close to 8% during the period 2019-2023, according to Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com