Heat Therapy Market Expected to Reach $2.4 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Heat Therapy Market," The heat therapy market size was valued at $1,422.80 million in 2021 and is estimated to reach $2,430.20 million by 2031, growing at a CAGR of 5.7% from 2022 to 2031. 

Heat therapy is a type of treatment in which heat is applied to a specific area of the body to relieve pain, reduce muscle tension, and promote relaxation. Heat therapy works by increasing blood flow to the affected area, which can help to reduce inflammation and speed up the healing process. It further helps to loosen up tight muscles, making it an effective treatment for muscle pain or stiffness. It is particularly useful for treating conditions such as arthritis, fibromyalgia, back pain, menstrual cramps, and sports injuries. Heat therapy is given by using heating pads, heating wraps, and heat packs.

In addition, it plays an important role in helping patients recover from bone fractures of hip, knee, spine, shoulder, foot & ankle, and injuries and return to their normal activities. However, it is important to consult with a healthcare provider before using heat therapy, as it may not be appropriate for all types of injuries or medical conditions. 

The growth of the heat therapy market share is majorly driven by rise in incidence of sports injuries, upsurge in awareness among people toward heat therapy devices, and high adoption of heat therapy for chronic and post-operative pain management. In addition, heat therapy market trends include the improvement of healthcare infrastructure in emerging countries; rise in prevalence of musculoskeletal conditions such as arthritis, fibromyalgia, and back pain; and surge in incidence of chronic pain. For instance, according to the World Health Organization (WHO) report of 2022, approximately 1.71 billion individuals suffered from musculoskeletal conditions, including low back pain, neck pain, fractures, other injuries, osteoarthritis, amputation and rheumatoid arthritis. 

Moreover, rapid increase in the population of aged individuals coupled with rise in prevalence of arthritis among them acts as a key driving force of the heat therapy market growth. This is attributed to the fact that these individuals suffer from chronic pain due to decline in muscle mass, strength, and function, thus propelling the demand for heat therapy. For instance, according to the United Nations Report on “World Population Ageing” published in December 2020, globally, there were 727 million people aged 65 years or above in 2020. In addition, increase in research activities, technological innovations in the heat therapy products, increase in demand for heat therapy devices, and rise in use of heat therapy are the key factors that drive the growth of the market in the developing countries such as India and China. 

Furthermore, rise in R&D investments; significant increase in capital income in developed countries; and adoption of developmental strategies such as product launch, collaboration, merger, acquisition, and agreement by key players to stay competitive in the market foster the growth of the heat therapy market. For instance, in June 2022, Enovis, an innovation-driven medical technology company, announced a strategic partnership with Kelvi, an innovator of digital hot and cold therapy products, to deliver industry-leading heating and cooling therapies for rehabilitation, recovery, and performance enhancement to patients and athletes of all abilities.  

On the basis of type, the heat therapy market is segmented into OTC devices and prescription-based devices. The OTC devices segment is expected to witness highest CAGR during the forecast period, owing to an increase in awareness of self-medication, increase in incidence of chronic pain and rise in prevalence of arthritis disease.

By application, the heat therapy market is segregated into musculoskeletal disorders, chronic & post-operative pain management, injury, and others. The musculoskeletal disorder segment is expected to witness the highest CAGR during the forecast period, owing to a rise in cases of musculoskeletal disorder such as arthritis, osteoarthritis, and rheumatoid arthritis. and an increase in cases of fibromyalgia globally. 

Depending on end user, the heat therapy market is segregated into hospitals, physiotherapy centers, and others. The physiotherapy centers segment is expected to witness the highest CAGR during the forecast period, owing to a rise in awareness regarding physiotherapy centers and availability of skilled physiotherapists. 

Region wise, the heat therapy market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America generated maximum revenue in 2021. In addition, Asia-Pacific is expected to witness the highest CAGR, owing to an increase in population, surge in healthcare expenditure, and rise in awareness related to heat therapy. 

Key findings of the study

• On the basis of type, the OTC devices segment held the largest share in the heat therapy industry in 2021.
• By application, the chronic and post-operative pain management dominated the market in 2021.
• Depending on end user, in 2021, the others segment registered the highest growth.
• Region wise, North America was the major shareholder in 2021 and Asia-Pacific is expected to witness the highest CAGR during the forecast period.