According to the World Confederation for Physical Therapy, the total number of physiotherapists in Latin America (LATAM) stood at 350,221, as of June 2019. The Confederation further stated that Brazil had 250,000, Colombia had 29,483, Peru had 5,000, Chile had 30,360, Ecuador had 2,530, and Mexico had 4,861 practicing physiotherapists. Due to the presence of a large number of such medical professionals, the consumption of physiotherapy tapes and bandages is quite high in the region.
Moreover, high incidence of road accidents and sports injuries in the region is expected to fuel the LATAM physiotherapy tapes and bandages market at 2.7% CAGR during the forecast period (2020–2030). The market was valued at $30.4 million in 2019 and it is expected to reach $39.8 million by 2030. The World Health Organization (WHO) recorded that the death rate per 10,000 people due to road accidents, in 2018, was 10.2%, 13.4%, 13.7%, 20.2%, 21.5%, 24.8%, and 40.8% in Chile, Argentina, Peru, Brazil, Colombia, Ecuador, and Venezuela, respectively.
The road accident victims often suffer severe injuries and fractures, which require surgeries. These patients often need physiotherapy as a part of post-op care, to reduce or overcome effects of disability caused due to accidents. Aftercare physiotherapy is generally carried out by using physiotherapy bandages, which offer relief from severe pain. To offer better treatment to such victims, key market players like DeRoyal Industries Inc., Implus Corporation, Johnson & Johnson, Becker Orthopedic, Essity AB, 3M Company, Beiersdorf AG, NASARA Corporation, and Kinesio Taping LLC have been launching advanced products.
Thus, the growing incidence of road accidents and the burgeoning number of practicing physiotherapists in LATAM will boost the usage of physiotherapy tapes and bandages in the foreseeable future.
