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.
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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.
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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.
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