According to the National Center for Complementary and Alternative Medicine, there is no scientific basis to conclude that small, static magnets can relieve pain or influence the course of any disease. In fact, many of today's products produce no significant magnetic field at or beneath the skin's surface. Several research studies found no difference in pain relief between people wearing magnets those who did not.
Watch this video of a medical student demonstrating the weakness of the magnets in a similar device.
Magnet pain therapy could be unsafe for patients with defibrillators, pacemakers or insulin pumps because the magnets could affect how these devices function.