Localized Temperature Therapy Products Market to Surpass Market Valuation of US$ 2.6 Bn During 2020-2030
Future Market Insights (FMI) in its recent study on the localized temperature therapy products market is poised to expand at CAGR of about 6% over the projected period 2020-2030. As per the research, the sector will reflect substantial opportunity in localized neonatal therapy applications, and for sport injury treatments over the years to come.
“Aside from the higher demand for pain and injury management healthcare operations, the mounting number of premature births worldwide and the subsequent preterm birth complications, especially in developing economies will be a prime aspect encouraging the application of localized temperature therapy products for neonatal cures,” comments FMI analyst.
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- In terms of product type, localized heat therapy product will remain higher in demand during 2020-2030.
- Based on area of application, the back pain treatment applications account for a notable market share of nearly 27% over the forecast period.
- Based on distribution channel, retail pharmacies will attain over 50% of the worldwide revenue share.
- Prospects in treatment for heat therapy solutions for therapeutic applications, will complement sales figure and will result in lucrative opportunities for the market amid the ongoing COVID-19 crisis.
- Growing interest from pharmaceutical producers, for pain management solutions targeted for geriatrics will be sustaining promising expansion in the approaching years.
- Growing use of disposable products complementing market growth.
- Non-invasive, drug free pain management therapy are bolstering demand for localized temperature therapy products.
- Companies are witnessing potentially lucrative prospects for growth in the hypothermia treatment and prevention segment, predominantly in emerging economies with huge populations of malnourished individuals.
- North America will be dominating the global market by holding around 40% of the total revenue share over the assessment period.
- Europe is likely to be the second biggest, recording a CAGR of 6% over 2020-2030.
- East Asia will reflect relatively high growth with China being the prominent driver through the forecast period.
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Key companies identified in the global localized temperature therapy products market include Cardinal Health, Medtronic plc, Medline Industries Inc., Cincinnati Sub Zero, Pic Solution, B.u.W. Schmidt, Rapid Aid, Macon & Company Inc., Advanced Home Care, The Mentholatum Company, Life Wear Technologies, Adroit Medical Systems, Core Products International Inc., Kobayashi Pharmaceutical (H.K.) Co. Inc., and Carex Health Breg Inc.
Localized temperature therapy products market players are focusing on strategies to lessen the COVID-19 pandemic impact. As limitations on selective medical procedures impact industry expansions, there is larger focus on hypothermia and neonatal care prevention applications.
Players are increasingly putting resources in research & development efforts intended towards the integration of new technologies in their offerings, along with capacity expansions, mergers and strategic acquisitions on a worldwide level.
Cardinal Health launched the DEHP & latex free Argyle Infant Heel Warmer targeted for neonatal care. The company has also initiated a program for healthcare professionals for instance nurses on the application of localized temperature therapy as a feasible treatment choice.
Localized Temperature Therapy Products Market – Segmentation
- Localized Neonatal Therapy Product
- Warming Mattress
- Infant Heel Warmers
- Localized Heat Therapy Product
- Hot Water Bottles
- Heat Lamps
- Paraffin Bath
- Gel Hot Packs
- Localized Cold Therapy Product
- Vapocoolant Sprays
- Thermal Cooling Blanket
- Disposable Ice Bags
- Cold Packs
Area of Application
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
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Get Valuable Insights into the Localized Temperature Therapy Products Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global localized temperature therapy products market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the localized temperature therapy products market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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