Dublin, Nov. 20, 2023 (GLOBE NEWSWIRE) -- The "Hot and Cold Therapy Packs: Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
Global Hot and Cold Therapy Packs Market to Reach $2.2 Billion by 2030
The global market for Hot and Cold Therapy Packs estimated at US$923.4 Million in the year 2022, is projected to reach a revised size of US$2.2 Billion by 2030, growing at a CAGR of 11.7% over the analysis period 2022-2030.
Cold Packs, one of the segments analyzed in the report, is projected to record 10.8% CAGR and reach US$745.2 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Hot Packs segment is readjusted to a revised 13.6% CAGR for the next 8-year period. 
The U.S. Market is Estimated at $251.6 Million, While China is Forecast to Grow at 16.5% CAGR
The Hot and Cold Therapy Packs market in the U.S. is estimated at US$251.6 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$526.5 Million by the year 2030 trailing a CAGR of 16.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.2% and 10.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.1% CAGR.
MARKET TRENDS & DRIVERS
- Shift in Nature of Medical Care towards Non-Hospital Environment: Foundation for Market Growth
- Ballooning Global Population Offers Significant Growth Opportunities
- Aging Population Continues to Fuel Growth
- Longer Life Expectancy Bolsters Market Growth
- Positive Outlook for Healthcare Industry Signals Promising Growth for Hot and Cold Therapy Packs
- Innovative and Advanced Hot and Cold Therapy Packs: Spearheading Growth
- Novel Migraine-Related Ice Therapies
- Innovation Delivers Alternatives to Cold Packs
- Chronic Rheumatic Conditions Drives Widespread Market Adoption
- Sports Related Injuries Continue to Fuel Market Expansion
- Rising Incidence of Spinal Cord Injuries Benefit Market Prospects
- Chronic Back Pain and Spine Disability Patients Tremendously Benefit with Hot/Cold Packs
- Increasing Obesity Levels Lends Traction to Market Growth
- Mounting Healthcare Costs: A Blessing in Disguise for Hot/Cold Therapy Packs
- Gel-Based Therapy Packs Revolutionizes Pain Management
- Increasing Popularity of Herbal Products Bodes Well for the Market
- Hot and Cold Therapy Packs: Competitive Landscape
- Private Label Products Garner a Larger Pie
- Companies Capitalize on the Power of Internet
- Drug Stores Lead Distribution
The report profiles key players in the industry. A selection of competitors profiled include:
- 3M Company
- Beiersdorf Australia Limited
- BREG, Inc.
- Bruder Healthcare Company
- Caldera International, Inc.
- Cardinal Health, Inc.
- Carex Health Brands
- Core Products International, Inc.
- DJO Global, Inc.
- Halyard Health, Inc.
- Kobayashi Pharmaceutical Co., Ltd.
- Koolpak Ltd.
- Life Wear Technologies, Inc.
- Medichill
- Medline Industries, Inc.
- Medtronic plc
- Pfizer Inc.
- The Mentholatum Company
- THERAPEARL
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 341 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value (USD) in 2020 | $935.3 Million |
| Forecasted Market Value (USD) by 2027 | $1700 Million |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Pain and Associated Costs - A Prelude
- Recent Market Activity
- Hot and Cold Therapy Packs: Ensuring Care, Comfort and Convenience
- Global Market Outlook
- Growth Drivers in a Nutshell
- Developed Markets: Traditional Revenue Contributors
- Developing Countries Turbo Charge Future Market Growth
- Hot and Cold Therapy Packs - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
- 3M Company
- Beiersdorf Australia Limited
- BREG, Inc.
- Bruder Healthcare Company
- Caldera International, Inc.
- Cardinal Health, Inc.
- Carex Health Brands
- Core Products International, Inc.
- DJO Global, Inc.
- Halyard Health, Inc.
- Kobayashi Pharmaceutical Co., Ltd.
- Koolpak Ltd.
- Life Wear Technologies, Inc.
- Medichill
- Medline Industries, Inc.
- Medtronic plc
- Pfizer Inc.
- The Mentholatum Company
- THERAPEARL
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/w8zv3d
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