It has been estimated that around $1 billion worldwide are being spent on magnetic bracelets, insoles, wrist and knee bands, back and neck braces, and even pillows and mattresses.

They are being sold over the Internet and advertised and touted by successful athletes, who claim that the magnets have therapeutic influence and could treat certain health problems. This is why so many people do not hesitate to buy them.

However, physicians claim otherwise. They say that even if there were any healing effects of the magnets, they would be small and could certainly not have any benefits on conditions like carpal tunnel syndrome or arthritis-as claimed.

Physicians also worry that self-treatment with magnetic therapy may result in an underlying medical condition being left untreated.

In the end, they advise that if you are buying the magnets anyway, to buy the cheapest one. That way you will definitely relieve the pain in your wallet if not any other.