The total revenue generated by the hot and cold therapy packs market will grow at a rate of 7.7% in the years to come to reach USD 2,008.2 million by 2030.
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The factors responsible for the market growth are increasing acceptance of non-pharma and non-invasive pain management therapies, increasing elderly population, increasing incidence of orthopedic ailments, growing product introductions, and the increasing count of road accidents.
Cold therapy packs dominated the industry in the past, and the situation will remain like this in the years to come. This is because these packs are highly favored by individuals, who are suffering with chronic joint and bone pain.
APAC will grow the fastest in the years to come, mostly because of the surging elderly population, which generates a high requirement for non-invasive pain management therapies, as stated in one of its market research reports by P&S Intelligence.
As per the WHO, 20–50 million individuals bear non-fatal injuries on a yearly basis, which result in long-standing disabilities. Since people suffering from injuries non the road injuries are generally treated with hot and cold therapy packs for the management of pain, the increasing count of road accidents is ensuing in the increasing requirement for these products, thus boosting the growth of the industry.
There are an increasing cases of road accidents of-late all over the world, and this will help in increasing the demand for hot and cold therapy packs in the future.
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