New York:, Feb. 27, 2023 (GLOBE NEWSWIRE) -- According to this new study by Persistence Market Research, the global Gel Pads Market was valued at US$ 172.3 million in 2021 and is predicted to exhibit expansion at a CAGR of 3.8% between 2023 and 2032. Worldwide sales of gel pads are estimated to reach US$ 258.9 million in 2032.
Heat therapy assists in relieving stiff joints and sore muscles, thereby making it easier for body movement. The application of gel heating pads is one of the most established, cost-effective, and safest heat treatment approaches for treating various conditions. Thermotherapy has recently become much more popular due to it being one of the preferred treatments for reducing pain, enhancing blood flow, and expediting the healing process. This eases discomfort, restores physical motion, and relaxes tense muscles.
Furthermore, as the incidence of sports-related injuries, strains, and sprains has increased, so has the demand for cold gel pads that reduce pain, propelling market expansion. These gel-cooling pads have gained appeal in the hot and cold therapy business.
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The industry's need for therapy packs has increased in response to concerns about muscle and nerve strain. Leading manufacturers are focusing on developing cutting-edge products with increased efficiency.
For instance:
- In May 2022, Rapid Aid launched Cold Gel Slippers that can reduce chemotherapy's side effects. In addition to soothing sore feet, cold gel slippers can relax the tissues and nerves.
Key Takeaways from Market Study
- In 2021, electric pads accounted for 67.9% of the global market share.
- Since heat therapy is most commonly used, it accounted for 73.2% of the market share in 2021.
- The silicon segment accounted for 32.3% market share owing to the high durability of the material.
- By application, the orthopaedic pain segment dominated the market with 34.6% in 2021.
- By distribution channel, supermarkets and hypermarkets held a market share of 38.9%.
- North America leads with a market share of 30.3% and is anticipated to remain at the top across the decade.
“Increasing orthopaedic surgeries and problems associated with them, along with technological advancements by manufacturers to treat pain are expected to propel the demand for gel pads,” according to a researcher of Persistence Market Research.
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Market Competition
- Cardinal Health
- Becton, Dickinson & Company
- TensCare Ltd.
- ExcelHealth Inc. (iReliev®)
- Sharper Image
- Homedics
- Thermotex
- Sunbeam Products, Inc.
- Pure Enrichment
- Krishna Enterprises
- Vats Me
- Beurer
To increase product penetration, major market participants are introducing newly created innovative products. Additionally, they are collaborating with a variety of online platforms to broaden their distribution networks and are also resorting to mergers and acquisitions to accelerate market expansion.
For instance,
- In June 2022, Becton, Dickinson and Company announced the acquisition of Parata Systems to enter the new market for pharmacy automation solutions. Becton, Dickinson and Company’s transformative solutions will be able to provide new pharmacy automation technologies for settings such as hospitals, retail pharmacies, long-term care facilities, and homes.
- In March 2022, Breg collaborated with a new French distributor Osmose. According to this collaborative agreement, a large network of surgeons would receive Breg’s bracing and cold therapy technology from the French orthopaedics company Osmose.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the gel pads market in its latest study, presenting a historical demand assessment of 2012 to 2021 and projections for 2023 to 2032.
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The research study is based on the product type (electric pads, non-electric pads), therapy type (heat therapy, cold therapy), material (PVC, silicon, nylon, others), application (head & neck pain, menstrual pain, orthopaedic pain, others), and distribution channel (supermarkets & hypermarkets, pharmacies & drug stores, specialty stores, online pharmacies), across seven key regions of the world.
For additional insights on how the growth of the gel pads market will unfold over the decade, write to the analyst at media@persistencemarketresearch.com
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