Newark, New Castle, USA, June 07, 2023 (GLOBE NEWSWIRE) -- The market analysis of the global was conducted by Growth Plus Reports in 2022 and is valued at US$ 1.67 billion. The market is expected to hit a revenue CAGR of 5.3% to reach US$ 2.67 billion by 2031.
The global localized temperature therapy products market is poised to experience steady growth as the demand for non-invasive and drug-free pain management solutions continues to rise. Localized temperature therapy products, including heating pads, wraps, and cold packs, provide targeted relief for muscle pain, joint stiffness, and other musculoskeletal conditions.
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Localized Temperature Therapy Products Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 1.67 billion |
| Revenue Forecast in 2031 | US$ 2.67 billion |
| CAGR | 5.3% |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Product, Area of Application, Distribution Channel and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
The increasing incidence of musculoskeletal disorders, such as arthritis, back pain, and sports injuries, is a significant driver for the localized temperature therapy products market. Furthermore, with a growing emphasis on minimizing the use of medications and invasive procedures, individuals are seeking non-invasive alternatives for pain management.
Moreover, technological advancements are leading to the development of innovative localized temperature therapy products with improved features and functionality. Enhanced safety mechanisms, adjustable temperature settings, and ergonomic designs contribute to the effectiveness and ease of use of these products, further driving the market growth.
Recent Development in the Localized Temperature Therapy Products Market:
- In March 2022, Hemostatix Medical Technologies LLC (Hemostatix), a privately held medical device company, was acquired by C2Dx. The new expansion is in line with C2Dx's strategy of making investments in and improving the distribution of key niche items to promote their growth and accessibility internationally. The employees, client contracts, and thermal scalpel system will all function under C2Dx because of the acquisition of Hemostatix. Manufacturing and distribution will continue to take place in the Tennessee city of Memphis. After acquiring the T/Pump Localized Temperature Therapy device and the STIC Intra-Compartmental Pressure Monitor, Hemostatix Thermal Scalpel is C2Dx's third product line.
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Competitive Landscape
A list of market players actively operating in the global market for localized temperature therapy products includes:
- C2Dx Inc.,
- Medtronic plc,
- Cardinal Health,
- 3M Company,
- Medline Industries Inc.,
- Cincinnati Sub Zero
Market Segmentation:
Based on product, the global localized temperature therapy products market is segmented into localized heat therapy products, localized cold therapy products, and localized neonatal therapy products.
The localized heat therapy product segment is further sub-segmented into hot water bottles, heat lamps, paraffin baths, hot gel packs, and others.
The localized cold therapy product segment is further sub-segmented into vapor coolant sprays, thermal cooling blankets, disposable ice bags, cold packs, and others.
The localized neonatal therapy product segment is further sub-segmented into warming mattresses and infant heel warmers.
Based on the area of application, the global localized temperature therapy products market is segmented into neck, shoulder, back, knee, and others. The back segment dominated the market with the largest revenue share in 2022, attributed to the rising number of patients with back pain problems.
Based on the distribution channel, the global localized temperature therapy products market is segmented into pharmacies from hospitals, retail, and online.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- Reimbursements
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
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VALUE PROPOSITIONS RELATED TO THE REPORT:
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- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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