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LATAM Physiotherapy Tapes and Bandages Market To Value $39.8 Million in 2030

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Pramod Kumar
LATAM Physiotherapy Tapes and Bandages Market To Value $39.8 Million in 2030

Due to the increasing incidence of chronic diseases, healthcare expenditure, geriatric population, cases of road accidents and sports injuries, and awareness programs by public and private agencies, the Latin American (LATAM) physiotherapy tapes and bandages market value will rise from $30.4 million in 2019 to $39.8 million in 2030, at a 2.7% CAGR between 2020 and 2030 (forecast period). Other key drivers for the market include the supportive government initiatives, existence of numerous physiotherapists in the region, sedentary lifestyle, and easy affordability and availability of the products.

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The product segment of the LATAM physiotherapy tapes and bandages market is categorized into bandages, tapes, and others, which include reusable gel bags and protective underwraps. Among these, tapes were the largest category in 2019, and they will also witness the fastest growth during the forecast period. This is attributed to the medically approved sweat and waterproof adhesive that helps the tapes stick to the skin for 3–5 days. Additionally, for people with a latex allergy, kinesiology tapes that are free of latex and hypoallergenic in nature are available.

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A lucrative opportunity for the players in the LATAM physiotherapy tapes and bandages market is the increasing sale of such products through online platforms. With the growing penetration of the internet and smartphones, e-commerce businesses are prospering in the region. These platforms allow people to look at numerous products by numerous companies at one place, avail substantial discounts, pay electronically, and have the products delivered at their doorstep. Further, since the COVID-19 outbreak, an increasing number of people have shifted to e-commerce, which will allow market players to increase their customer reach.

Therefore, with the growing incidence of sports injuries and increasing geriatric population, which is susceptible to orthopedic diseases and disorders, the requirement for physiotherapy tapes and bandages will continue to rise in the LATAM region.

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Pramod Kumar
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