India Heat Therapy Market Shipment Analysis
India Heat Therapy Market registered a growth of 42.28% in value shipments in 2022 as compared to 2021 and a decrease of -2.33% CAGR in 2022 over a period of 2017. In Heat Therapy Market India is becoming more competitive as the HHI index in 2022 was 4076 while in 2017 it was 4368. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Heat Therapy Market.
India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Heat Therapy Market in 2022 was 14.04 while in 2017 it was 21.52. China, Rep. of Korea, USA, China, Hong Kong SAR and Switzerland were among the top players of the market in 2022, where China acquired the largest market share of 56.37% with a shipment value of 33.97 million USD in 2022 China also offered the product below the average market price thus having a competitive advantage over others In 2017 Rep. of Korea had the largest market share of 59.51% with the shipment value of 29.03 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As Rep. of Koreaprice is lower than the average price, it provided a significant edge among other competitor in 2017.
India Heat Therapy Market Synopsis
The India heat therapy market size was estimated at USD 173 million and is projected to register a CAGR of 8% owing to its increasing application in treating musculoskeletal conditions like fibromyalgia, chronic back pain, arthritis along with others associated functional deficits and sports injuries like sprains & strains. Moreover, factors like rising geriatric population coupled with increasing cases of chronic diseases will boost growth prospects for this industry over forthcoming years. Additionally, surge in consumer preference towards home care solutions also present untapped opportunities for manufacturers operating across this space so as deliver cost effective solutions thereby ensuring better health outcomes amongst end users due to ease & affordability enabled through them.
Market Drivers of the market
The heat therapy market in India has witnessed robust growth as a result of the increasing incidence of musculoskeletal disorders and sports injuries. Heat therapy is widely used for pain relief, muscle relaxation, and promoting healing, and its non-invasive nature has made it a popular choice among patients. Moreover, the growing awareness of the benefits of heat therapy and the availability of a wide range of heat therapy products have contributed to the market`s expansion. Additionally, the rising adoption of heat therapy in physiotherapy clinics and wellness centers has further driven market growth.
Challenges of the Market
The India heat therapy market faces several challenges that impact its growth and adoption. One of the significant challenges is the limited awareness and understanding of heat therapy as a therapeutic option. Many healthcare professionals and patients may not be fully aware of the benefits and applications of heat therapy for pain management and rehabilitation. Educating both medical practitioners and the general public about the efficacy and safety of heat therapy is essential to drive its adoption and utilization in various healthcare settings. Additionally, affordability and accessibility are significant challenges in the India heat therapy market. While heat therapy devices and products are available, they may be relatively expensive for certain segments of the population, especially in rural areas and lower-income households. Ensuring affordability and expanding distribution networks to reach underserved regions can improve the accessibility of heat therapy solutions. Moreover, there may be variations in regulations and standards for heat therapy products in different states and regions of India. These variations can create compliance challenges for manufacturers and distributors, affecting market growth. Harmonizing regulations and ensuring product safety and quality standards across the country can streamline the market and provide a conducive environment for the growth of the heat therapy sector.
Covid-19 Impact on the Market
The India heat therapy market experienced fluctuations in demand during the COVID-19 pandemic. While the need for heat therapy products for pain relief and rehabilitation remained, there were disruptions in the supply chain and manufacturing processes due to lockdowns and restrictions. Moreover, with hospitals and healthcare facilities focusing on managing COVID-19 cases, elective procedures and non-urgent treatments, including some heat therapy applications, were postponed or reduced, affecting the market. However, as the pandemic brought attention to the importance of self-care and home-based healthcare solutions, there was an increased interest in heat therapy products for at-home pain management and wellness. The market witnessed a shift towards online sales channels, allowing consumers to purchase heat therapy products from the safety of their homes.
Key Players of the Market
In the India heat therapy market, key players are vital in providing effective and safe heat therapy solutions for pain management and rehabilitation. One of the prominent key players is Dr. Morepen Ltd., known for its range of heat therapy products, including heating pads and blankets. They focus on delivering reliable and affordable heat therapy solutions for consumers and healthcare facilities. Another major player is Vissco Rehabilitation Aids Pvt. Ltd., offering a comprehensive range of heat therapy products with a focus on therapeutic benefits for various medical conditions. Additionally, Healthgenie India Pvt. Ltd. is a key player in the market, providing heat therapy devices with innovative features and temperature control options. These key players actively collaborate with physiotherapists, pain management specialists, and healthcare practitioners to promote the benefits of heat therapy and ensure the availability of quality products for pain relief and muscle relaxation.
Key Highlights of the Report:
- India Heat Therapy Market Outlook
- Market Size of India Heat Therapy Market, 2021
- Forecast of India Heat Therapy Market, 2028
- Historical Data and Forecast of India Heat Therapy Revenues & Volume for the Period 2018 - 2028
- India Heat Therapy Market Trend Evolution
- India Heat Therapy Market Drivers and Challenges
- India Heat Therapy Price Trends
- India Heat Therapy Porter's Five Forces
- India Heat Therapy Industry Life Cycle
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Type for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Packs for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Pads for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Wraps for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Prescription Based for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Others for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Application for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Musculoskeletal Disorder for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Sports Medicine for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Post-Operative Therapy for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Mastitis for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Chronic Pain Management for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Injury for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Others for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By End User for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Hospitals for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Diagnostic Laboratories for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Online Pharmacies for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Retail Pharmacies for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Ambulatory Surgical Centers for the Period 2018 - 2028
- Historical Data and Forecast of India Heat Therapy Market Revenues & Volume By Others for the Period 2018 - 2028
- India Heat Therapy Import Export Trade Statistics
- Market Opportunity Assessment By Type
- Market Opportunity Assessment By Application
- Market Opportunity Assessment By End User
- India Heat Therapy Top Companies Market Share
- India Heat Therapy Competitive Benchmarking By Technical and Operational Parameters
- India Heat Therapy Company Profiles
- India Heat Therapy Key Strategic Recommendations
Frequently Asked Questions About the Market Study (FAQs):
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on
sales@6wresearch.com
