Kinesio Tape Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Kinesio Tape Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Kinesio tape market has been projected to record a CAGR of nearly 9.6% over the forecast period.

The COVID-19 pandemic significantly impacted the Kinesio tape market worldwide. For instance, in January 2022, an article published by the Journal Scientific Reports stated that post-COVID-19 pain scores increased to 6 on a 10 scale compared to pre-pandemic, which was 5 on 10. To manage and overcome the pain associated with COVID-19, people have drifted towards Kinesio tapes rather than medicines due to their less severe effects, which has subsequently led the healthcare industry to increase the manufacture of Kinesio tapes and has driven this market. However, in the current scenario, it is anticipated that due to an increase in pain associated with sports and other injuries, the market is expected to witness significant growth over the forecast period.

The factors driving the growth of the studied market are the rise in muscle pain due to minor accidents and sports and an increase in the geriatric population. For instance, an article published in Frontiers in Sports and Active Living in June 2021 reported that the 1-year prevalence of a severe sports injury in the Swedish population episode was 31%. The most common injury locations for these injuries were the knee 25%, ankle 20%, and hip/groin (15%). The most common locations were the knee 24%, ankle 24%, and foot 24%.

Similarly, the revised World Population Prospects by the United Nations in 2022, reported that in the year 2022, there were 771 million people aged 65 years or over globally. The older population is projected to reach 994 million by 2030 and 1.6 billion by 2050. This age group is at high risk for various age-related illnesses, which require the help of personal mobility.

Moreover, in a Disabled World 2021 report, it was found that currently, about 10% of the world's population, or nearly 650 million people, live with a disability. Thus, a rise in muscle pain due to increasing aging and physical disability is expected to increase the demand for Kinesio tapes which will further boost the growth of the market over the forecast period. However, patent rights required to manufacture tapes may restrain the market growth.

The growing popularity of pre-cut tapes is due to the reduction of time required to cut down the Kinesio tapes into strips, as they are already cut and pre-shaped. As they continue to be in demand, the availability of pre-cut strips in a variety of sizes and lengths has increased steadily. Although it contains no medications or topical substances, a kinesiology tape can effectively relieve acute and chronic pain. This is especially effective for pain from scorching injuries, where the intensity of the pain is out of proportion to the severity of the injury. It reduces swelling and inflammation, accelerates recovery from bruises and contusions, and relieves muscle spasms and cramping.

The United Nations 2022 also stated that between 2022 and 2050, the older population is projected to grow at rates above 3% per year in Northern Africa and Western Asia, Sub-Saharan Africa, Oceania (excluding Australia and New Zealand), and Central and Southern Asia. Similarly, the increasing geriatric population in countries like Japan is also contributing to the growth of this segment. For instance, in 2022, according to statistics published by the United Nations Population Fund, in Japan, a large proportion of the living population aged 15-64 years accounted for 59% of the population in the country.

Thus, the above-mentioned factors are expected to drive the growth of this segment over the forecast period.

North America is expected to dominate the overall market over the forecast period. The market growth is due to factors such as the presence of key players and the high prevalence of accidents and muscle pains and spasms in the region.

The National Safety Council 2022 data stated that sports-related shoulder injuries in the United States increased by 20% in 2021 compared to the previous year. The source also reported that the injury count per 100,00 population by sports was 43.9 for soccer, 35.6 for trampolines, 35.1 for baseball, 11.7 for volleyball, 10.0 for hockey, and 17.8 for golf in the year 2021.

The above-mentioned source also reported that the highest rate of sports injury in 2021 was reported among the 5-14 years of age group, with a prevalence of 2,451.4/100,00 population, followed by the 15-24 years age group, with a prevalence of 1,929.4/100,00 population.

Similarly, an article published by the journal Radio Graphics in July 2022 reported that muscle pain and spasms in Canada grew among the geriatric population by 23% during the time of the COVID-19 pandemic compared to the previous year.

Thus, the above-mentioned factors are expected to drive the growth of the market in the region over the forecast period.

The Kinesio tape market is competitive and consists of several players. Some companies currently dominating the market are Kinesio Holding Corporation, Nucap Industries Inc. (Spidertech Inc.), Kt Tape Polska Sp, Nitto Denko Corporation, Im Group Holdings Corporation (Implus LLC), Constellation Software Australia Pty Ltd (Vela Software Group Pty Ltd), Heilongjiang Kindmax Pharmaceutical Co., Ltd., Rocktape Co Limited, Star Micronics Co., Ltd., Kt Health LLC, Microcom Corporation and Boca Systems, Inc.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support