Brazil Is Dominating the Latin American Physiotherapy Tapes and Bandages Industry

The Latin American physiotherapy tapes and bandages market, is experiencing growth and is projected to reach USD 39.8 million by 2030, according to P&S Intelligence.

This growth can be ascribed to the surge in the occurrence of chronic illnesses, the high occurrence of sports wounds and road accidents, the increase in the count of awareness events started by private and public establishments, and the product's lucrative nature and easy obtainability in the LATAM region.

Based on product, the LATAM physiotherapy tapes and bandages industry has been divided into bandages, tapes, and others. Between these, the tapes category is projected to lead the industry in the coming few years.

As per the World Health Organization (WHO), the demise rate per 100,000 individuals because of road accidents was 21.5% in Colombia, 24.8% in Ecuador, 40.8% in Venezuela, 20.2% in Brazil, 13.4% in Argentina, 13.7% in Peru, and 10.2% in Chile in 2018.

Road accidents move to severe wounds and fractures, which need operations. Additionally, postop care commonly includes physiotherapy, to overcome or decrease the impacts of the disability instigated by accidents.

Aftercare exercise is commonly carried out utilizing physiotherapy bandages, which offer relief from discomfort, thus resulting in the development of the LATAM physiotherapy tapes and bandages industry.

The growing count of physiotherapists plays a vital role in the development of the LATAM physiotherapy tapes and bandages industry. As specified by the World Confederation for Physical Therapy, as of 2019, there were around 350,221 physical therapists in the region.

Among these, Brazil had approximately 250,000 working physiotherapists, Peru had 5,000, Mexico had 4,861, Chile had 30,360, and Colombia had 29,483. Hence, the growing count of physiotherapists is boosting the need for physiotherapy tapes and bandages in the region.

Hence, the surge in the occurrence of chronic illnesses, high occurrence of sports wounds and road accidents, increase in the count of awareness events started by private and public establishments, and the product's lucrative nature and easy obtainability in the LATAM region are the major factors propelling the market.