They are elasticized compression shorts or sports wraps. Each of these is impregnated with a unique blend of natural rare-earth semiconductors. Goode Wraps are available for the hip, groin, foot, ankle, knee, elbows, and wrist. In fact, the semiconductors can be added to almost any cloth like material.

What are they used for?

Primarily to control pain, swelling and stiffness. They are ideal for tired aching muscles or joints from sporting activity, exercise and repetitive stress injuries. The Goode Wraps help the muscles regain strength and prevent or lessen the sharp pain in joints from tendon stress.
In reality, pain in hip, and knee joints can be nothing more serious than referred pain from myofascial trigger points (tiny contraction knots) in the muscles of the hip and thigh. Even when a hip or knee joint has suffered a verifiable physical injury, trigger points in associated muscles always contribute a major part of the pain. Referred pain can be every bit as intense and debilitating as pain from a damaged joint.
Some researchers suspect that trigger points may actually be the root cause of true osteoarthritis and other kinds of joint deterioration. This is because muscles afflicted with trigger points become shortened and stiff. When this happens, even normal movement puts undue strain on muscle attachments at the joints, which can eventually result in damage to connective tissue and distortion of the joints themselves.

Is there anything similar on the market?