Magnetic therapy is an alternative medical practice that uses static (i.e. unmoving) magnets to alleviate pain and other health concerns. It uses different kinds of magnets on the body to help boost your overall health. It may also help treat certain conditions.

Your body naturally has magnetic and electric fields. All your molecules have a small amount of magnetic energy in them. The thought behind magnetic field therapy is that certain problems happen because your magnetic fields are out of balance. If you put a magnetic field near your body, it's believed things will go back to normal.

Most magnetic field therapy is a treatment option for different types of pain, like in your feet and back.

Scientists have specifically studied its use for:

Carpal Tunnel
Arthritis pain
Wound healing
Insomnia
Headaches
Fibromyalgia pain

There are so many articles about this alternative medical practice. Here are a few for your reference.

LiveScience

WebMD