Back stretchers are portable devices used in stretching the spine and back muscles. They help in improving posture by decompressing the vertebral column and stretching the muscles in the back. Back stretchers are increasingly being used by people with sedentary jobs or lifestyle as they experience discomfort in the lower back from prolonged sitting. The growing adoption of sedentary jobs in developed economies due to shift towards technology-based occupations has increased the prevalence of back pain and muscle stiffness. As per studies, more than 80% of the global population experiences back pain at some point which significantly impacts their quality of life and work productivity. Back stretchers help in relaxing the back muscles and improving posture to provide relief from back pain. The global Back Stretchers Market is estimated to be valued at US$ 162.2 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity
The increasing prevalence of a sedentary lifestyle is a major market opportunity for back stretchers. Developed economies such as North America and Europe have witnessed a substantial increase in the number of office jobs which do not involve much physical activity. Prolonged sitting for several hours each day puts pressure on the back and spine. According to studies, people who sit for more than 6 hours daily have a 60% higher chance of developing back pain and stiffness. Back stretchers help in counteracting the negative effects of sitting by stretching the back in a gentle manner and improving posture. As the trend towards a highly desk-bound work culture continues, the adoption of back stretchers is expected to grow significantly to alleviate discomfort arising from a sedentary lifestyle.
Porter’s Analysis
Threat of new entrants: Low entry barriers such as low initial capital requirements makes the threat of new entrants high in the back stretchers market. However, established brands have strong brand loyalty that prevents major intrusion.
Bargaining power of buyers: Individual buyers have high bargaining power due to availability of alternative products. Whereas, institutional buyers such as hospitals and physiotherapy clinics have moderate bargaining power due to bulk purchase needs.
Bargaining power of suppliers: Few global players control key raw materials supply leading to moderate bargaining power. Local vendors mitigate this threat with easy availability of machinery and components.
Threat of new substitutes: Alternate muscle/back relaxation products pose limited threat as back stretchers serve a targeted application in back pain relief.
Competitive rivalry: Intense competition exists amongst established brands on the basis of product features, quality, and pricing.
SWOT Analysis
Strengths: Back stretchers provide effective pain relief, muscle relaxation and posture correction. Growing health and wellness trend boosts demand.
Weaknesses: High costs of advanced features-based models limits affordability. Preference for alternate therapies in some regional markets.
Opportunities: Rising incidence of lifestyle diseases and back problems drives market potential. Untapped rural health markets offer scope.
Threats: Threat from substitute therapies and devices. Vulnerability to economic slowdowns impacting discretionary spends.
Key Takeaways
The global back stretchers market is expected to witness high growth over the forecast period due to rising geriatric population, growing prevalence of back problems as a result of sedentary lifestyles and poor ergonomics.
Regional analysis: North America currently dominates the global back stretchers market due to growing health awareness and higher personal income levels enabling enhanced access. Asia Pacific is anticipated to be the fastest growing regional market led by rising health issues, expansion of healthcare infrastructure and growing medical tourism in countries such as India and China.
Key players operating in the back stretchers market are Nubax, Backbridge, Nayoya Wellness, Theraband, Chirp, LumbarTrac, Teeter Hang Ups, Zen Health, DJO Global, Fit for Life LLC, OPTP, Gaiam, AmazonBasics, ProsourceFit, and Stamina Products Inc. Key players are focusing on product innovation, expanding regional presence and engaging in mergers and acquisitions for market share gain.
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