The global Heat Therapy Units Market is expected to reach USD 3.5 Billion by 2022. The demand for heat therapy units is estimated to exceed a valuation of USD 8.5 Billion by the end of 2032, in comparison to the USD 3 Billion registered in the year 2021.
The sales of heat therapy units are anticipated to accelerate at an exponential CAGR of nearly 9% to 10% CAGR during the forecast period 2022 to 2032.
Report Attribute | Details |
---|---|
Heat Therapy Units Market Base Year Value (2021) | USD 3 Billion |
Heat Therapy Units Market Expected Value (2022) | USD 3.5 Billion |
Heat Therapy Units Market Anticipated Value (2032) | USD 8.5 Billion |
Heat Therapy Units Market Projected Growth Rate (2022 to 2032) | 9% to 10% CAGR |
Heat therapy, commonly known as thermotherapy, is a medical therapeutics procedure used for the management of pain in different medical conditions. Heat therapy units are the medical devices used in the heat therapy procedures. Hence, increasing customer preference for the adoption of home-based pain management solutions is projected to favor the growth in the global market.
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There is a significant rise in the burden of musculoskeletal conditions such as rheumatoid arthritis, lower back pain, tendinitis, fibromyalgia, and many others worldwide, due to ignorance of muscle pain and injuries, resulting in boosting the demand for therapeutic solutions.
For instance, according to a study by the World Health Organization (WHO), in 2021, nearly 1.71 Billion people across the globe are reported to be suffering from musculoskeletal conditions, out of which low back pain caused highest burden with a prevalence of 568 Million.
As heat therapy units are extensively being used in treatments such as physiotherapy, electrosurgery, and other pain management solutions, increasing prevalence of such conditions is projected to bolster the sales in the global market.
Rising awareness regarding the risk of skin burn, swelling, rashes, & inflammation and increased heart rate & rheumatoid arthritis among the patients is declining the adoption of heat therapy, which is in turn, impeding the sales of heat therapy units in the market.
This, in addition to high cost of heat therapy units and presence of a wide range of pain management alternatives are factors further hampering the growth in the global market.
North America is anticipated to emerge as the most lucrative market for heat therapy units between 2022 and 2032, reveals FMI. Due to the rising vehicular fleet and traffic across the countries such as the USA and Canada, there is a swift surge in the prevalence of road accidents in North America, resulting in instance of increasing bone fractures and injuries.
According to the Insurance Institute for Highway Safety, approximately 33,244 crashes involving around 51,247 automotive vehicles were reported across the USA in the year 2019.
Furthermore, increasing number of sport-related injuries, owing to rising number of sports activities and events, is surging the heat therapy units' demand for pain management, physiotherapy, and other medical applications. This is estimated to bolster the growth in the North America market.
As per FMI, Western Europe is expected to register growth at a robust CAGR in the global heat therapy units market during the forecast period 2022 to 2032.
With increasing number of electro surgeries and growing adoption of home-based pain management solutions, the demand for heat therapy units is rapidly increasing. Hence, key players are focusing on introducing novel products to cater to this increasing demand.
For instance, Fisioline, an Italian manufacturer of electroasthetic and electromedical equipment recently announced introducing a new ultrasound diathermy unit, FISIOSONIC®, for ultrasound therapy. A slew of such new product launches is projected to accelerate the sales in the Western Europe market.
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Some of the leading players in the heat therapy units market are Zimmer MedizinSysteme GmbH, DJO Global, Hill Laboratories Accelerated Care Plus Corporation, Fisioline, Performance Health, Biotech India, ASTAR, BTL International, Guangzhou Longest Science & Technology, and others
Prominent players in the market are aiming at introducing novel products and entering into collaboration, partnership, and acquisition to gain edge in the highly competitive market.
Report Attribute | Details |
---|---|
Growth Rate | CAGR of 9% to 10% from 2022 to 2032 |
Base Year for Estimation | 2021 |
Historical Data | 2015 to 2020 |
Forecast Period | 2022 to 2032 |
Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
Segments Covered | Product Type, Mobility, Application, End User, Region |
Countries Covered | North America; Latin America; Western Europe; Eastern Europe; Asia-Pacific Excluding Japan; Japan; Middle East and Africa |
Key Companies Profiled | Zimmer MedizinSysteme GmbH; DJO Global; Hill Laboratories Accelerated Care Plus Corporation; Fisioline; Performance Health; Biotech India; ASTAR; BTL International; Guangzhou Longest Science & Technology; Others |
Customization | Available Upon Request |
FMI projects the sales of heat therapy units in the market is expected to rise at 9% to 10% value CAGR by 2032
The global heat therapy units market is expected to be dominated by North America over the forecast period 2022 to 2032.
Zimmer MedizinSysteme GmbH, DJO Global, Hill Laboratories Accelerated Care Plus Corporation, Fisioline, Performance Health, Biotech India, ASTAR, BTL International, Guangzhou Longest Science & Technology are some of the leading players in the prominent heat therapy units market.
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