The global Elastic Therapeutic Tape market is expected to witness a market value of US$ 236.07 Million in 2023 and is expected to accumulate a market value of US$ 733.21 Million by registering a CAGR of 12.0% in the forecast period 2023 to 2033. The market for Elastic Therapeutic Tape market registered a CAGR of 5.2% in the historical period 2018 to 2022. An upsurge in adoption of elastic tape for orthopaedic treatment is one of the major factors that is expected to fuel the market growth over the analysis period.
As per Future Market Insights – market research and competitive intelligence provider, the global market value for Elastic Therapeutic Tape has been augmented, owing to the factors such as the increasing demand for versatile and easy use of therapeutic tape. In addition, rise in geriatric population as well as a frequent use of tape in sports and aerobics, attributed to increase in minor accidents in sports are other major factors that are expected to propel the sales of the elastic therapeutic tape.
Previously, the elastic therapeutic tapes were only used by athletes suffering from muscle injury. These tapes offered them relief during injury so that they could play or perform when injured. However, nowadays, even the general population are using the elastic therapeutics tapes or the kinesio tapes. The cost effectiveness as well as the ease of use are the major factors that have attracted a larger customer base. In addition, the geriatric population use the elastic therapeutic tapes, when to relieve themselves from pain in legs or hands.
Furthermore, the kineso tapes not only aid in muscle alignment and movement, but also help in pain management. These tapes offer constant support without restricting movement. Thus, these are preferred in comparison to various other methods such as bandages. In addition, the cost-effectiveness of the elastic therapeutic tapes provides more benefit. Thus, all the aforementioned factors are anticipated to accelerate the demand for elastic therapeutic tapes in the forthcoming years.
Other major factors such as the increasing importance as well as participation in sports, coupled with rise in significance of proper physiological treatment are also projected to augment the sales of the elastic therapeutic tapes during the forecast period. Also, the rise in awareness about physical disabilities, and rapidly increasing healthcare infrastructure are other major factors that are anticipated to create lucrative avenues for the growth of the market in the near future.
On the regional end, the Elastic Therapeutic Tape market in North America is projected to account for the highest share during the forecast period, owing to the factors including rise in availability of raw materials, presence of key players, high prevalence of accidents as well as muscle pains and spasms, and an established healthcare infrastructure in the region. In addition, the availability of trained man power is another major factor that is anticipated to escalate the regional market growth in the coming time.
On the other hand, the European Elastic Therapeutic Tape market is expected to hold the second highest share during the analysis period, attributed to the factors such as a rise in healthcare awareness, rise in geriatric population, rise in government investments and initiatives, rise in R&D activities, and increase in adoption of different sports in the region.
Recent developments in the technology, mergers and acquisitions, and partnerships within the companies involved in the designing of Elastic Therapeutic Tape are expected to create lucrative opportunities for the market growth over the analysis period.
For instance, KT Tape, in December 2021, re-launched its partnership with England Athletics, under which KT Tape will share its products with registered athletes, coaches, and clubs in England Athletics.
Elastic therapeutic tape is called as Kinesiology tape it is an elastic cotton strip consisting of acrylic adhesive which helps in pain treatment and disability from athletic injuries. It is widely used in rehabilitation and treatment of sport injuries which is triggering the growth of the elastic therapeutic tape market. For instance, rehabilitative tape helps to simplify the body’s healing process by providing its extended soft tissue manipulation.
Furthermore, these elastic therapeutic tape are also used for proprioceptive facilitation, reduction of muscle fatigue, enhanced healing & helps to relax tired muscles. Additionally, the elastic therapeutic tape can be stretched up to 140% which means it can be stretched more than normal length.
Furthermore, support to sore muscle, relief from swelling, and physiotherapy treatments are some of the features of elastic therapeutic tape that influence the market growth. It has various applications that fuel the demand of the elastic therapeutic tape market growth during the forecast period include treatment of ligament strains, joint swelling, treatment of muscle sprains arthritis, low muscle tone or weakness.
Additionally, increase in number of orthopaedic patient’s treatment is boosting the market growth elastic therapeutic tape in near future. According to studies, Elastic therapeutic tape market is expected to reach a 350 million dollar USD by 2026 from 150 million USD in 2019.
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Increase in adoption of elastic therapeutic tape for orthopaedic treatment and rising demand for versatile and easy use of therapeutic tape are emerging trends propelling elastic therapeutic tape market growth during the forecast period. Moreover, rise in geriatric population and frequent use of tape in sports and aerobics owing to increase in minor accidents in sports are some of the major factors driving the elastic therapeutic tape market growth.
Furthermore, rise in awareness about physical disabilities coupled with growing healthcare infrastructure are the opportunities expected to experience elastic therapeutic tape market growth in near future.
However, stringent rules and regulations regarding patient rights, lack of awareness in developing countries, limited availability of high cost raw materials, and among others are some of the factors hampering the elastic therapeutic tape market growth in near future. Additionally, complications in acquiring of patents by new market entrants may hinder the Elastic therapeutic tape market growth.
The global elastic therapeutic tape market is expected to experience significant growth during the forecast period. After 2008 Olympics, Kinesio USA, donated 50,000 rolls of the elastic therapeutic tape to 58 participating countries which created popularity of elastic therapeutic tape market.
Major production of tape is done by companies like SpiderTech, KT TAPE, RockTape, Kinesio Taping, and Strength Tape which occupied major market share of the total revenue generated. Additionally, they are also focusing on providing these tapes at a very cost effective price which will further provide better opportunities for market elastic therapeutic tape growth during the course of period.
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Geographically, the elastic therapeutic tape market is segmented on the bases of North America, Europe, Latin America, South Asia, East Asia, Oceania, Middle East and Africa. North America is dominating the market owing to increased availability of raw materials, availability of trained man power and major manufacturing company Kinesio located in USA region.
Europe is considered as second largest contributing region of the market due to increase in healthcare awareness, and among others .Asia Pacific is fastest growing regions due to rise in geriatric population, increase in adoption of different sports, government support and among others.
Spider tech, KT Tape, Rock Tape, Nitto Denko, kinesio tapping, Tera medical, DL medical and health, Kindmax, and Mueller.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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The global Elastic therapeutic tape market is segmented on the bases of product type, application and distribution channel.
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Elastic Therapeutic Tape Market
