Kinesio Tape Market size is projected to reach $316.2 million by 2024, and is estimated to grow at a CAGR of 10% during the forecast period 2020-2025. Kinesio tapes are used for joint and muscle pains and they do not restrict the body movements. Many people are increasingly adopting an active lifestyle leading to a rise in the number of minor accidents and growth of Kinesio Tape industry. Such accidents during exercise, sports and other physical activities will contribute to an increased use of Kinesio tapes and thus a lead to a growth of its market. This Kinesio Tape market report provides market share of Kinesio Tape top 10 companies along with detailed Kinesio Tape industry outlook.
Key Takeaways
- Kinesio market size is $178.5 million in 2019 and is estimated to grow at significant pace owing to the rising number of minor physical accidents during exercises and other physical activities. The active lifestyle of people and the increased rehabilitative use of these tapes will drive the market.
- North America held the largest market share in terms of revenue, with a 36% share, owing the increased use of Kinesio tapes among generic population and not just athletes or healthcare professionals.
Type - Segment Analysis
Pre-cut strip type had major share by revenue, due to its ease of application. They do not require time in cutting the tape and can be applied faster than a single roll tape. Their availability in various sizes and lengths have also increased their popularity.
Distribution Channel- Segment Analysis
Kinesio tapes are sold through distribution channels such as franchised stores, supermarkets, online stores and more. Franchised stores will occupy major share in the market by distribution channel owing to the availability of original products.
End User - Segment Analysis
Kinesio tapes are commonly used by professional athletes. They perform regular physical activity resulting in muscular wear and tear. Thus the preference of a Kinesio tape increases as it does not restrain their movement, and also rehabilitates the muscle.
Application – Segment Analysis
Kinesio tapes have various applications such as rehabilitation, alignment and for pain management. The tapes are majorly used for rehabilitation, due to the support it offers in comparison to other tapes. The have increased use among elderly patients who experience pain and require support in the leg or hand muscle. Athletes also use them during injury to tighten the muscle.
Geography - Segment Analysis
North America is estimated to hold largest share in Kinesio tape market in 2019 and is projected to maintain its dominance during the forecast period. It is also the largest consumer of Kinesio tapes due to increased use among not only athletes but also generic population. This is owing to the fact that these tapes are considered to be economic and more effective than other muscle supporting methods.
Drivers – Kinesio Tape Market
· Spread of adoption of Kinesio tapes by a range of users
Previously only athletes suffering from muscle injury used Kinesio tapes. They also offered pain relief to athletes during injury and so that they could perform when injured. However, Kinesio tapes are now being used even by the general population. The cost effectiveness and ease of use has attracted many a larger customer base. Geriatric population who face pain in legs or hands use Kinesio tapes to relieve the pain.
· Allow muscular movement and are cost effective
These tapes not only aid in muscle alignment, but also help in pain management. They offer support without restricting movement. Hence they are preferred in comparison to various other methods such as bandages. They are also cost effective and provide more benefit. Hence their demand is said to be increasing due to the benefits they offer.
Challenges – Kinesio Tape Market
· Patent rights restrict new entrants
Kinesio tapes have patents and cannot be manufactured without the rights. This has resulted in restricted entry of new manufacturers. Thus expansion of the market is constrained and only just few players are currently in the market.
· Lack of awareness on the correct application methods
Kinesio tapes need to be applied in a certain method to achieve maximum support and aid in muscular rehabilitation. Even though the application is easy, there is lack of professionals who know how to correctly position the tape. Generic population also needs to be educated on the correct method to apply the tape for maximizing the benefit.
Kinesio Tape Industry Outlook
Research & development and strategic alliances are some of the key strategies adopted by players in the Kinesio Tape market. Kinesio Tape top 10 companies are Boca System, Epson, Kinesio Holding Corporation, KT Health, Microcom Corporation, Pyramid Technology, Spidertech Inc., Sportstex, Star Micronics and others.
Kinesio Tape Market Research Scope:
The base year of the study is 2019, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the Kinesio Tape Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
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