Global Orthopedic Tapes Market: Introduction
Orthopedics is a branch of medicine that deals with correction and prevention of bone deformities, skeletal injuries, and disorders. Orthopedic tapes are adhesives used for the treatment of pain and disabilities caused due to athletic injuries and a range of other physical disorders. Research studies conducted suggest that orthopedic tapes are employed in relieving pain in patients with chronic musculoskeletal pain.
An orthopedic tape is an elastic tape with the ability to stretch to over 120% of its original length. On application, the tape recoils back to its original length, creating a pull force on the skin. Orthopedic tapes serve a variety of purposes including facilitation of the joint motion and alignment of the weak muscles.
Global Orthopedic Tapes Market: Competitive Landscape
Darco International, established in 1985, is one of the leading providers of post-operative, trauma, and wound care solutions for the global foot & ankle community. Orthopedic tape products offered by the company include MECRON elastic tape, which is an elastic sport and therapy tape used by physicians and athletic trainers across the globe.
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Onesky Holdings Ltd
Onesky Holdings Ltd, a subsidiary of Biomedic (Hong Kong) Medical Technology Co. Ltd., is engaged in the manufacture and supply of advanced medical products. The company’s manufacturing unit is focused on the development of thermoplastic splints and immobilation and fixation systems.
Allard Company Group is engaged in the development, manufacture, and supply of a wide range of products for orthopedics, including body dynamic orthoses, wrist and thumb products, foot and ankle products, knee orthoses, hip orthoses, and thermoplastic materials. The company offers orthopedic tapes through the X-Lite product group, which comes under its thermoplastic materials category.
Global Orthopedic Tapes Market: Dynamics
Rising incidence of sports injuries
According to a study conducted by the American Academy of Orthopedic Surgeons (AAOS), over 20% of sports injuries are related to lower extremities. According to the WHO, nearly nine million children aged between one year and 19 years are admitted in emergency departments owing to sports injuries. Thus, increase in the incidence of sports injuries drives the global orthopedic tapes market.
Significant increase in obesity among global population
Lifestyle changes in addition to changing eating habits are major contributors to obesity among global population. Changing eating habits lead to cholesterol and fat accumulation, contributing to increase in the body weight. This creates a significant pressure on the joints, leading to joint disorders and damage. According to the WHO, in 2015, over two billion adults were overweight, while more than 40 million children aged below five years were obese or overweight.
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Reimbursement issues in developed regions
The reimbursement scenario in North America varies considerably in terms of pricing, co-payments, and settlements. Complexities arising due to this variation create complications for third-party payers such as private insurance companies and social security systems. They play a key role between the user and the healthcare organization. Reimbursement of health care expenses in any region depends on compliance with a complex set of rules and regulations. Thus, unfavorable reimbursement scenario and lack of insurance coverage are expected to hamper the braces, support, casting and splinting market in North America during the forecast period.
Global Orthopedic Tapes Market: Segmentation
The global orthopedic tapes market can be segmented based on:
- Product Type
- Material Type
Based on product type, the global orthopedic tapes market can be segmented into:
- Cellona Plaster of Paris
- Delta- Lite Plus
- Cellacast Xrta Cast Tapes
- Techform Premium
Based on material type, the global orthopedic tapes market can be divided into:
Based on application, the global orthopedic tapes market can be classified into:
- Traumatic Wound Treatment
- Surgical Wound Treatment
- Burn Injury
- Sports Injury
Based on end-user, the global orthopedic tapes market can be segregated into:
- Home Care
- Ambulatory Surgical Centers
- Health Care Centers
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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