Mark your calendars, because on Aug. 5 the world will be tuning into coverage of the 2016 Summer Olympics in Brazil, and shortly thereafter millions of weekend warriors and fantasy athletes will be looking on drug store shelves for the latest kinesiology tape or copper compression wraps.
NeuroMetrix is aiming its wearable pain relief device Quell at a customer it believes is underserved. “...There's this large population of Americans suffering from chronic disease, and current devices aren’t addressing what their needs are,” said SVP and general manager of consumer health Frank McGillin.
Whether you call the category by its old-school moniker “wearables” or the relatively new catch phrase “therables,” one thing is for sure: This niche market targeting first-adopter tech geeks and fitness fanatics might not be “niche” for much longer.
Niche products like external analgesics, both creams and patches, continue to represent significant incremental value to the overall pain-relieving category. According to the latest IRI figures, sales of external analgesics were up 8.6%.