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Heating Pad Market Growth Drivers, Strategic Analysis, Market Share, Key Trends And Forecast To 2033
Heating Pad Market Growth
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According to The Business Research Company's, The heating pads market size has grown strongly in recent years. It will grow from $53.37 billion in 2023 to $57.65 billion in 2024 at a compound annual growth rate (CAGR) of 8%. The growth in the historic period can be attributed to increase awareness of health and wellness encourages, improving healthcare infrastructure, rising awareness of pet health, growing popularity of aromatherapy, and growing use of heating pads in physical therapy.
The heating pads market size is expected to see strong growth in the next few years. It will grow to $78.82 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to focus on non-invasive pain relief, inclusion of heating pads in corporate wellness programs, increased focus on ergonomic designs, development of new heating elements, and supportive government initiatives. Major trends in the forecast period include portable, battery-operated heating pads, enhance safety features, development of wearable heating pads, and heating pads with wireless capabilities and remote controls.
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Market Drivers and Trends:
The increasing incidence of sports injuries is expected to propel the growth of the heating pad market going forward. Sports injuries are injuries that occur during athletic activities, exercise, or sports. Sports injuries occur due to overuse, improper technique, insufficient warm-up or stretching, and collisions with other players or objects. Heating pads help relieve sports injuries by increasing blood flow to the affected area, reducing muscle stiffness, alleviating pain, and promoting faster tissue and muscle healing. For instance, in June 2024, according to the National Safety Council, a US-based non-profit organization, after reaching a record low in reported sports and recreational injuries in 2020, there was a 20% increase in injuries in 2021, followed by another 12% increase in 2022. Therefore, the increasing incidence of sports injuries is driving the growth of the heating pad market.
Major companies operating in the heating pad market are focusing on introducing orthopedic heating pads with thermostatic temperature controllers to provide a safe and soothing solution for pain relief. An orthopedic heating pad is a device designed to relieve pain and discomfort in specific body areas and is commonly used for conditions such as arthritis and muscle strains. For instance, in July 2023, Medtech Life, an India-based medical equipment manufacturing company, launched Medtech Handypad hp-01. The Handypad HP-01 is an orthopedic heating pad designed for modern, safe, and convenient heat therapy, featuring thermostatic temperature control, dual safety thermostats, and three adjustable heating levels. It is lined with velvet fabric for premium comfort and is foldable for easy travel use.
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Major Key Players of the Market:
Conair Corporation, Beurer GmbH, Walgreens Boots Alliance Inc., Dongguan Large Electronics Co. Ltd, Apex International, Core Products International Inc., Carex, Pure Enrichment, Chattanooga Group, Sunrise Products, HealthMate International LLC, Drive DeVilbiss, Battle Creek Equipment, Thermotex Therapy Systems Ltd., Nature Creation Inc., UTK Technology Limited, Sunbeam Products Inc., BodyMed Inc., ThermaCare, Venture Heat, Rani Herbals, United Medicare, Milliard, MediCrystal, Sunny Bay
Heating Pad Market 2024 Key Insights:
• The heating pads market size is expected to see strong growth in the next few years. It will grow to $78.82 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
• Impact of Sports Injuries on the Heating Pad Market
• Innovations in Orthopedic Heating Pads
• Europe was the largest region in the heating pad market in 2023
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