LOS ANGELES, BEIJING, LONDON and PUNE, India, October 3, 2018 /PRNewswire/ --
Athletic tape industry is still in its developing stage. A smooth down growth rate curve can be witnessed in terms of athletic tape consumption in the next five years. However, the prices of the athletic tapes are likely to show downward trends with the rise in the competition. According to a brand-new report of QY Research, the global athletic tape market is likely to reach US$ 670 Mn in 2025 from US$ 340 Mn in 2018, expanding at a robust CAGR of 8.9% during 2018-2025.
The major goals of athletic taping are to restrict motion of joint which is injured and reduce swelling. Because of this characteristic, the global market for athletic tapes is growing tremendously due to the rising number of sports injuries that are being treated with the use of athletic tapes. Another key factor which is driving the growth of the global market for athletic tapes is increasing usage of athletic tapes to maintain the balance and posture while playing any types of sports.
Benefits associated with athletic tapes, open several opportunities in the global athletic tapes market
As many key manufacturers are tying up with various online portals to target every consumer, the sales of athletic tapes through online third-party channels has emerged as a recent trend. Another significant factor that is attributing the growth of the global athletic tape market is easy availability of athletic tapes through online channels in suburban areas where there is less accessibility of sporting goods and supermarkets.
There are an increasing demand and popularity for athletic tapes in the applications like injury management and prevention. Apart from their usage as preventive measure and for the reduction of injuries in collision sports, athletic tapes are also used to treat tibial stress syndrome which is one of the types of chronic injury.
With more than 35% of market share, North America was the largest market in term of consumption of athletic tapes in the year 2017
Most of the major manufacturers of athletic tapes are located in the United States, China, South Korea, and Japan. Japan, the United States, and Europe are performing well in the global athletic tape market. In the year 2017, North America region's consumption of athletic tapes was 37.8% in the global market, followed by Europe and Asia. In Asia Pacific region, China is the key manufacturing country in athletic tape. Owing to the low labor cost, and low cost of raw materials, the prices of OEM product are also low in China.
Global Athletic Tape Market: Segmental Analysis
The market is segmented into product type and application. By product type, the global athletic tape market is segmented into pre-cut bandage and roll tape, while on the basis of application type, the market is segmented into Hospital & Physiotherapy & Chiropractic, Pharmacy & Drugstore, Sports Franchised Store, Online Shop and Other
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Key Players in the global athletic tape market
GSPMED, Kinesio Taping, Medsport, 3M, Socko, SpiderTech, KT TAPE, DL Medical & Health, Johnson & Johnson, Kindmax, RockTape, TERA Medical, Jaybird & Mais, LP Support, Mueller, Healixon, StrengthTape, K-active, Atex Medical, and Towatek Korea are some of the leading players in the global market for athletic tapes.
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