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Magnet therapy: Magnetic therapy, also called magnetic field therapy and bioenergy therapy, is an alternative therapy that uses magnets of varying sizes and strengths that are placed on the body to relieve pain and treat disease.
How it's supposed to work. Magnetic therapy dates back at least 2,000 years, according to a report by New York University's Langone Medical Center. Folk healers in Europe and Asia are believed to have used magnets to try to treat a variety of ailments.hese studies suggest that static magnetic therapy devices may not work at all beyond having a placebo effect on those who wear them. Despite a lack of scientific evidence to support claims that commercially available magnetic therapy devices work, wearable magnets remain extremely popular.