DUBLIN, October 21, 2021--(BUSINESS WIRE)--The "Hot and Cold Therapy Packs - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Hot and Cold Therapy Packs estimated at US$900 Million in the year 2020, is projected to reach a revised size of US$1.4 Billion by 2027, growing at a CAGR of 6.6% over the analysis period 2020-2027.
Cold Packs, one of the segments analyzed in the report, is projected to record a 6.6% CAGR and reach US$498.7 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hot Packs segment is readjusted to a revised 6.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $243.6 Million, While China is Forecast to Grow at 9.9% CAGR
The Hot and Cold Therapy Packs market in the U.S. is estimated at US$243.6 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$303.3 Million by the year 2027 trailing a CAGR of 9.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 5.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR.
Moist Therapy Packs Segment to Record 6% CAGR
In the global Moist Therapy Packs segment, USA, Canada, Japan, China and Europe will drive the 5.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$147.8 Million in the year 2020 will reach a projected size of US$214.7 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$191.1 Million by the year 2027, while Latin America will expand at a 7.2% CAGR through the analysis period.
Select Competitors (Total 75 Featured):
Beiersdorf Australia Limited
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.
Life Wear Technologies, Inc.
Medline Industries, Inc.
The Mentholatum Company
Key Topics Covered:
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
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. 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
CLIMAWARET CryothermicT Elbow Wrap
Tempra Instant and Reusable Gelling Cold Therapy Pack
Rapid Aid's Ammonium Nitrate Free Instant Cold Packs
Torex Line of Innovative Products
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
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/tf7rup
View source version on businesswire.com: https://www.businesswire.com/news/home/20211021005888/en/
Laura Wood, Senior Press Manager
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