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The Posture Corrector Market report demonstrates supportive data related to the dominant players in the market such as product offerings, revenue, segmentation, and business synopsis. The report gives helpful insights which assist while launching a new product. This global market research report has complete overview of the market, covering various aspects such as product definition, segmentation based on various parameters, and the prevailing vendor landscape. Moreover, in the Posture Corrector Market report, the key product categories are also included. The report also analyses the emerging trends along with major drivers, challenges and opportunities in the Posture Corrector Market.
The Posture Corrector Market study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the market has also been included. Furthermore, businesses can decide upon the strategies about the product, customer, key player, sales, promotion or marketing by acquiring a detailed analysis of competitive markets. The Posture Corrector Market report is a synopsis about how is the market status right now and how will it be in the forecast years for industry.
Data Bridge Market Research analyses that the posture corrector market is expected to undergo a CAGR of 6.00% during the forecast period. This indicates that the market value, which was USD 1,347.50 million in 2021, would rocket up to USD 2,147.71 million by 2029. “Kinesiology Tape” dominates the product type segment of the posture corrector market owing to the fact that it has been observed to increase the blood circulation and reduce the swelling.
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Global Posture Corrector Market, By Product Type (Sitting Support Devices, Posture Braces, Kinesiology Tape, Posture Corrector Clothing, Others), Price Level (Less than US$ 20, Between US$ 20 – US$ 50, Above US$ 50), Distribution Channel (Online, Offline), End-user (Men, Women, Kids) – Industry Trends and Forecast to 2029.
Global Posture Corrector Market Analysis and Size
In today’s world, suffering from a bad posture is a common occurrence owing to a wide range of factors. This in turn could deduce the confidence in individuals and develop a bad self-image. However, with the rising awareness to maintain a good body posture and growing availability of products in this regards, there is a great scope of growth for the market.
Global Posture Corrector Market Definition
From the name itself, it is clear that posture corrector are the medical products that are used to correct the body posture and relive the user of back pain, neck pain and swelling. Posture correctors are available in a wide range of designs and sizes according to the height and weight of an individual.
Competitive Landscape and Posture Corrector Market Share Analysis
The posture corrector market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to posture corrector market.
Growing incidence rate of spinal and back disorders globally is one of the major factors fostering the growth of the market. Kyphosis and hunchback are the common spinal conditions found globally. More than 10 million cases of kyphosis per year are witnessed in India and this condition may prevail for lifetime if not treated properly.
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the advancements in medical technologies and devices is also bolstering the market growth rate.
Surging focus towards improving the condition of healthcare facilities and improving the overall healthcare infrastructure another important factor fostering the growth of the market. Rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further creating lucrative market opportunities.
Furthermore, upsurge in the public-private funding for target research activities, rising complaints of regular back pain owning to long working hours in the seating position among the population and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, unhealthy lifestyle of individuals, rising internet penetration rate, rising geriatric population base, change in consumer’s preference to natural treatments, product development and commercialization and increasing per capita expenditure on health care will further expand the market’s growth rate in the future.
Restraints/Challenges Global Posture Corrector Market
On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities, uneven distribution of medical services, dearth of skilled medical professionals, and dearth of awareness in the backward economies are expected to obstruct market growth. Also, lack of favorable reimbursement scenario and technology penetration in the developing economies, emergence of alternative technologies, perception about posture correctors being medical aid for patients rather than an everyday application, weakening of muscles due to prolonged usage of posture corrector, limited insurance coverage and regulatory compliance, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2022-2029.
This posture corrector market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market.
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COVID-19 Impact on Posture Corrector Market
The COVID-19 pandemic essentially affected the market. This is because of the fact that majority of the healthcare resources were directed towards meeting the demand arising out of COVID-19 patients. Postponement of non-elective surgeries and non-essential healthcare procedures has further derailed the market growth rate in this pandemic period. Lockdowns, quarantines, and social distancing have enhanced many posture-related problems. Further, restrictions imposed on travel owing to the lockdown regulations further challenged the market growth rate in this period. However, the post pandemic period will help to generate profits and revenues.
Global Posture Corrector Market Scope
The posture corrector market is segmented on the basis of product type, price level, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
On the basis of product type, the posture corrector market is segmented into sitting support devices, posture braces, kinesiology tape, posture corrector clothing and others. Others are further segmented into electronic posture reminder, magnetic back brace and others.
On the basis of price level, the posture corrector market is segmented into less than us$ 20, between us$ 20 – us$ 50 and above us$ 50.
On the basis of distribution channel, the posture corrector market is segmented into online and offline. Online is further segmented into company owned sites and e-commerce sites. Offline is further segmented into supermarkets and hypermarkets, specialty stores and other retail stores.
On the basis of end-user, the posture corrector market is segmented into men, women and kids.
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Healthcare Infrastructure growth Installed base and New Technology Penetration
The posture corrector market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for posture corrector market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the posture corrector market. The data is available for historic period 2010-2020.
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