The Global Back Therapy Kits Industry has experienced remarkable growth, soaring from a value of US$ 3.7 billion in 2022 to a projected US$ 5.8 billion by 2032. This substantial expansion is driven by a robust Compound Annual Growth Rate (CAGR) of 4.6% between 2022 and 2032, signifying the market’s pivotal role in the healthcare sector.
Innovative Pain Relief Technology:
Back Therapy Kits, emerging as at-home medical devices, play a crucial role in pain management, particularly for lower back issues. Secured with straps, these kits leverage Transcutaneous Electrical Nerve Stimulation (TENS) technology to transmit vibrations, providing effective pain relief.
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At the same time, higher costs involved with respect to Back Therapy Kits are expected to restrain the Back Therapy Kits market going forward.
Future Market Insights has entailed these facts with future prospects in its latest market study entitled ‘Global Back Therapy Kits Industry’. It has its line of expertise in the form of analysts and consultants to deploy an eagle’s eye view in its primary, secondary, and tertiary modes of research.
“With realization of the fact that vibration provided by Back Therapy Kits provides relief from muscle strain, the Global Back Therapy Kits Industry is expected to go good in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Global Back Therapy Kits Industry:
- North America holds the largest market share with the US witnessing continuous development of therapies.
- Europe is expected to stand second with the UK and Germany showing the same prospects as the US.
- The Asia-Pacific is expected to grow at the quickest rate in the Back Therapy Kits market in the forecast period with increasing incidences of lower back pain all across Japan, China, and India. Also, the WHO has confirmed that every sixth person in India suffers from arthritis at a certain point in their lives. The rising geriatric population is another point to look into. This is evident from the fact that as per the UN’s ESCAP (Economic and Social Commission for Asia and the Pacific), nearly 1.3 Billion people will be aged 60 and above by the year 2050.
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Competitive Landscape:
- The key players in the Back Therapy Kits market include Sanofi S.A., Polar Products Inc., Hocomo, Bayer AG, Brooks Life Sciences, Tynor, Amedica, Alliance Spine, Globus Medical, Captiva Spine, and likewise.
- The players mentioned above are engaging in various modes of expansion like new product launches, mergers, acquisitions, partnerships, joint ventures, and likewise to make a mark for themselves amidst call for innovations.
- Pfizer, Inc. is known for its drug called ‘tanezumab’ since the year 2017. It was when it received approval from the US FDA with regards to treating chronic low back pain. It’s interesting to learn that tanezumab is one of the humanized monoclonal immunoglobulin G2 (IgG2) to be used as a substitute for opioids.
What does the Report say?
- The research study is based on product type (strapped Back Therapy Kits and strapless Back Therapy Kits), connectivity (wired Back Therapy Kits and battery operated Back Therapy Kits), and end-user (hospitals, orthopedic clinics, rehabilitation centers, long-term care centers, and home care settings).
- With rising demand for at-home care settings, the Global Back Therapy Kits Industry is expected to grow inadvertently in the forecast period.
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Key Segments Covered in the Global Back Therapy Kits Industry Study
Global Back Therapy Kits Industry by Product Type:
- Strapped Back Therapy Kits
- Strapless Back Therapy Kits
Global Back Therapy Kits Industry by Connectivity:
- Wired Back Therapy Kits
- Battery-Operated Back Therapy Kits
Global Back Therapy Kits Industry by End User:
- Back Therapy Kits for Hospitals
- Back Therapy Kits for Orthopedic Clinics
- Back Therapy Kits for Rehabilitation Centers
- Back Therapy Kits for Long-term Care Centers
- Back Therapy Kits for Homecare Settings
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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