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Market Research Report
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1008444

Posture Corrector Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Published: | Mordor Intelligence Pvt Ltd | 118 Pages | Delivery time: 2-3 business days

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Posture Corrector Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
Published: May 13, 2021
Mordor Intelligence Pvt Ltd
Content info: 118 Pages
Delivery time: 2-3 business days
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  • Description
  • Table of Contents
Description

The Posture corrector market is expected to register a CAGR of nearly 5.7% during the forecast period.

The world is struggling due to this pandemic called covid 19. It restricts the individuals in many ways, such as social distancing, wearing masks, always washes your hands, etc, this is what is now being called the new normal. Social distancing has created a lot of posture-related problems, because of maintaining social distancing, the individuals are sitting at their home in one place for a longer duration leading to discomfort, muscle tension, etc. Also due to covid 19 people are not able to go gyms, parks, etc which eventually made their life sedentary. Hence due to Covid 19, the market for posture corrector has increased.

The rise in complaints of back pain is one of the key drivers of the posture corrector market. long working hours, sitting in the wrong posture, sedentary lifestyles can lead to posture deformity in people. The rise in awareness of the benefits of right posture in children and the increase in the aging population has positively influenced the posture corrector market. Due to these ongoing issues the government is also trying to spread awareness through various mediums and many companies are also working in treating posture deformity. Increasing in the trend of perfecting the posture naturally is also one of the key drivers for the market growth of posture corrector. The millennials are aware about the problems arises due to posture deformity , they are taking prior precautions , so that this problem can averted, because of that they are started using posture corrector boforehand itself. As more number of young people started using it, more revenue can be generated, because this will help people believe that posture corrector is not only a medical aid, but can be used in day to day activities as well.

Key Market Trends

The Kinesiology Tape Segment is Expected to Grow at a Good Rate Over the Forecast Period

The Kinesiology Tape has a significant contribution to the overall posture corrector market and is expected to grow positively in the forecast period. It is very much useful in sports, it prevents sports injuries, putting this on the knee or any other joints will increase the space in the joints and thus prevents injury. It may also help in circulation in the body, many times it was seen that applying Kinesiology tape on the wounded area increases the blood circulation and reduce the swelling of that area. Nowadays people are trying to come out from their sedentary lifestyles to avoid several problems along with posture-related issues, which is why sports, games, physical exercises are much more encouraged, hence because of this trend the market size will increase for Kinesiology tape. According to National Safety Council (NSC), In 2019 there are around 3.3 million sports injuries occurred. These injuries came from various sports activities such as- exercise equipment, bicycles, basketball, football, swimming, and several other activities. The rising concern of these sports-related injuries led to an increase in expenditure for posture corrector devices, which shows that the future growth for these devices will increase significantly.

Posture Braces are also showing good growth nowadays as it is very much helpful in reducing back, neck, shoulder, and clavicle pain. The back pain problem is faced by many people due to prolonged sitting in the same position, lack of physical work & few other reasons as well. The posture braces can fit people with chest sizes ranges from 30-43 inches and work perfectly under most of the type of clothings.

Asia-Pacific Dominates the Posture Corrector Market Over the Forecast Period

Asia- Pacific is dominating the market share in posture corrector as the people from Japan, China is more concerned for the health-related issue. Asian countries are now focussing more on gyms, physical activities, etc to stay healthy and keeping aside the posture deformity which is slowly increasing in many individuals due to the sedentary lifestyle.

Another reason is the rising geriatric population in some countries which eventually becomes the reason for the increasing market of posture corrector in these countries. According to WHO by 2040 China's geriatric population contributes 28% of their overall population, which clearly depicts the positive market growth of posture corrector in the forecast period. Along with these factors, the rise in awareness for posture correctors is more in the Asia-Pacific region than any other region. So, due to these Asian market is latching a heavy growth in the posture corrector market.

Competitive Landscape

The Posture corrector market is highly competitive with many key players dominating the market. The presence of major players such as- ViboCare, Upright, I&Y BUY, Backjoy, MARAKYM among others is intensifying the competition. The market players are adopting strategies such as- mergers, R&D investment, product innovations, in order to sustain the increasing market rivalry.

IFGfit provides the world's first activewear product, by using FDA CLASS II posture correcting technology. This technology is useful for both athletes and employees.

Reasons to Purchase this report:

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Table of Contents
Product Code: 71943

TABLE OF CONTENTS

1 INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Increase in Geriatric Population Across the Globe
    • 4.2.2 Increasing in Number of Back Pain Cases
  • 4.3 Market Restraints
    • 4.3.1 Long Term Use of the Devices are Restricted
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Threat of New Entrants
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Bargaining Power of Suppliers
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

  • 5.1 By Product Type
    • 5.1.1 Sitting Support Device
    • 5.1.2 Kinesiology Tape
    • 5.1.3 Posture Braces
    • 5.1.4 Others
  • 5.2 By End User
    • 5.2.1 Adult
    • 5.2.2 Kids
    • 5.2.3 Geriatric
  • 5.3 By Distribution Channel
    • 5.3.1 Online
    • 5.3.2 Offline
  • 5.4 Geography
    • 5.4.1 North America
      • 5.4.1.1 United States
      • 5.4.1.2 Canada
      • 5.4.1.3 Mexico
    • 5.4.2 Europe
      • 5.4.2.1 Germany
      • 5.4.2.2 United Kingdom
      • 5.4.2.3 France
      • 5.4.2.4 Spain
      • 5.4.2.5 Italy
      • 5.4.2.6 Rest of Europe
    • 5.4.3 Asia-Pacific
      • 5.4.3.1 India
      • 5.4.3.2 China
      • 5.4.3.3 Japan
      • 5.4.3.4 Austalia
      • 5.4.3.5 South Korea
      • 5.4.3.6 Rest of Asia-Pacific
    • 5.4.4 Rest of World

6 COMPETITIVE LANDSCAPE

  • 6.1 Company Profiles
    • 6.1.1 Acorn International (Babaka)
    • 6.1.2 BackJoy
    • 6.1.3 Hexaforms
    • 6.1.4 MARAKYM
    • 6.1.5 Swedish Posture
    • 6.1.6 Upright
    • 6.1.7 ViboCare
    • 6.1.8 Aspen Medical Products, LLC

7 MARKET OPPORTUNITIES AND FUTURE TRENDS