The most recent study conducted by Report Ocean, titled “Global Kinesio Tape Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Kinesio Tape. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Kinesio Tape Market to reach USD $ billion by 2027.Global Kinesio Tape Market is valued approximately USD $ billion in 2020 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2021-2027. Kinesio Tape is a therapeutic tape that’s applied strategically to the body part to provide support, lessen pain, reduce swelling. Kinesio tape is made of fine, breathable, stretchable material, usually cotton or a cotton blend. Its elasticity does not overly restrict the area of application. And it is designed to provide enough pressure and support of provide strength and support to muscles and tissues.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The increasing in number of musculoskeletal pains have caused the growth for the kinesio tape market globally. According to WHO, in year 2019, musculoskeletal disorder, low back pain causes the highest burden with a prevalence of 568 million people. And approximately 1.71 billion people have musculoskeletal condition worldwide. As kinesio tape provides support and stability to the muscles & joints without hindering the body movement. Also, product innovation and profitable opportunities would grow the market in the forecasted period. However, presence of strict regulation restricts the new entry in the market over the forecast period of 2021-2027.
The key regions considered for the global Kinesio Tape market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is dominating the overall market in the forecasted period. As there is presence of key market player in the region. And there is high prevalence of accidents and muscle pains and spams in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as increasing in geriatric population would create lucrative growth prospects for the Kinesio tape market across Asia-Pacific region.
Major market player included in this report are:
Boca Systems
Kinesio Holding Corporation
KT Tape
Microcom Corporation
Pyramid Technologies Inc.
Spidertech Inc.
ATEX CO., LTD
Star Micronics Co., Ltd.
STRENGTHTAPE
NITTO DENKO CORPORATION
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Precut Strips
Single Rolls
Bulk Rolls
Others
By Application:
Rehabilitation
Alignment
Pain Management
Others
By Distribution Channel:
Franchised Store
Supermarket
On-line Shop
Sport Team
Clinical
By End-Users:
Hospitals
Rehab Centers
Professional Athletes
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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