New York, Feb. 27, 2023 (GLOBE NEWSWIRE) -- As per this new industry analysis by Persistence Market Research, the revenue for the global Heating Bags Market was US$ 224 million in 2021, with the market projected to exhibit a CAGR of 3% between 2023 and 2032. Sales of heating bags are expected to reach US$ 311 million by 2032.
Heating bags are used to provide efficient heat therapy for various joint problems, muscular aches, menstrual cramps, backaches, arthritic pain, rheumatoid discomfort, or aches caused by vigorous physical activity.
People are growing lazier because of sedentary lives, which is leading to obesity. Obese people with extra fat around their bellies tend to push their pelvis forward, putting pressure on their lower back and increasing the risk of discomfort and pain. Lower back discomfort can also develop or increase by sitting for a longer duration on an office chair. This is due to poor office ergonomics and sedentary posture, both of which contribute to recurring back pain attacks.
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Because of the growing vehicle fleet and traffic in countries such as the United States and Canada, the incidence of road accidents in North America is rapidly increasing, resulting in cases of escalating bone fractures and injuries.
- According to the Insurance Institute for Highway Safety, there were around 33,244 crashes involving approximately 51,247 automobiles in the United States in 2019.
Owing to the growing number of sporting events and activities, there are more sports-related injuries, which is increasing the demand for heat treatment units for pain management, physiotherapy, and other medical uses. This is projected to expand the heating bags market.
To enhance their market share, key players are increasing their manufacturing capacity in various countries in response to the rising global demand for heating bags. The availability of different pain management solutions is another issue inhibiting worldwide market expansion.
Key Takeaways from Market Study
- Electric heating bags are the leading product segment and accounted for 51.2% of the market share in 2021.
- The musculoskeletal disorder segment leads in terms of application of heating bags with a market value share of 22% in 2021.
- By distribution channel, online pharmacies are expected to grow at a CAGR of 3.7% over the forecast years.
- North America is the leading region with a market share of 38.2% in 2021.
“High prevalence of chronic pain and integration of advanced technology with traditional heating bags are expected to drive the sales of heating bags globally,” according to a researcher of Persistence Market Research.
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Market Competition
- Dhama Innovations Pvt. Ltd.
- DJO LLC
- Thermo Tek Inc.
- Cardinal Health
- Carex Health Brands, Inc.
- The Mentholatum Company
- Medline Industries Inc.
- Halyard Worldwide, Inc.
- Kobayashi Pharmacuticalco Ltd
- TrekProof Inc
Despite the fact that heating bag producers are operating at full capacity, demand outpaced supply since COVID-19 first arrived in 2020. This disparity affects a wide range of distribution channels, including online pharmacies and other industrial users. The heating bags market is fragmented with numerous local and global manufacturers. Several local players are launching alternative products, which are supplementing the market growth.
For example,
- In 2019, an Indian start-up company called Dhama Innovations Pvt. Ltd. developed heat wraps for the neck and shoulders that use rechargeable batteries.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the heating bags market in its latest study, presenting a historical demand assessment from 2012 to 2021 and projections from 2023 to 2032.
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The research study is based on product (rubber hot water bags, electric heating bags), application (musculoskeletal disorders, sports medicines, post-operative therapies, chronic pain management, injuries, others), and distribution channel (hospital pharmacies, retail pharmacies/drug stores, online pharmacies, hypermarkets/supermarkets), across seven key regions of the world.
For additional insights on how the growth of the heating bags market will unfold over the decade, write to the analyst at media@persistencemarketresearch.com
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