In the dynamic landscape of healthcare, the Global Back Therapy Kits Industry is gearing up for an extraordinary growth trajectory, poised to reach a significant valuation of US$ 5.8 Billion by 2032. This surge marks a substantial increase from the 2022 valuations of US$ 3.7 Billion and is underpinned by a robust Compound Annual Growth Rate (CAGR) of 4.6% projected between 2022 and 2032.
Back Therapy Kits, emerging as pivotal at-home medical devices, play a crucial role in pain management, particularly for lower back discomfort. Secured with a strap, these kits employ cutting-edge TENS (Transcutaneous Electrical Nerve Stimulation) technology to transmit targeted vibrations, offering effective pain relief.
Patients grappling with back pain are recommended to undergo 15 to 20 daily sessions utilizing Back Therapy Kits, providing a convenient and accessible solution for managing discomfort. Notably, athletes and sports enthusiasts turn to these kits to relax their lower back muscles, endorsing their efficacy in diverse settings.
The latest trend making waves in the industry is the advent of strapless Back Therapy Kits, creating a buzz in healthcare circles. Widely adopted in homecare settings and rehabilitation centers, Back Therapy Kits are becoming an integral part of holistic pain management strategies.
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At the same time, higher costs involved to Back Therapy Kits are expected to restrain the Global Back Therapy Kits Industry 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 the 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 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 would be aged 60 and above by the year 2050.
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Global Back Therapy Kits Industry 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 launch, 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 has 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 to 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 homecare 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 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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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