by Back stretchers are medical equipment used to stretch the back muscles and provide relief from back pain. They offer gentle support and traction to the lumbar spine and lower back region. Various types of back stretchers available in the market include door-mounted back stretchers, floor back stretchers, multi-level back stretchers, and traction devices. Back stretchers help alleviate back pain by elongating the muscles, improving circulation, and reducing pressure on the spine. They are widely used for therapy and exercises at home or gym settings.
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 key trends:
One of the key trends in the back stretchers market is the growing popularity of multifunctional back stretchers. Major players are focusing on developing back stretchers with additional features such as vibrating rollers, massage nodes, and heat therapy options. These multi-functional back stretching devices provide relaxation to back muscles through heat, vibration, and massage, in addition to basic back stretching. Furthermore, increasing adoption of online shopping is boosting the sales of back stretchers through e-commerce platforms. Players are focusing on strategic partnerships with online retailers to expand their consumer reach.
Porter’s Analysis
Threat of new entrants: The back stretchers market requires high initial investments to gain raw materials, establish manufacturing facilities and production lines. Additionally, health related regulations and standards pose further entry barriers.
Bargaining power of buyers: The buyers have moderate bargaining power as there are many established players offering substitutable back stretchers with differentiation in quality and specifications.
Bargaining power of suppliers: The raw materials required are commonly available which reduces suppliers’ bargaining power. However, patents on certain raw materials can increase suppliers’ negotiating ability.
Threat of new substitutes: Alternative therapies like yoga, massage and physiotherapy pose minimal threat as a substitute due to high costs and need for expertise.
Competitive rivalry: Being a fragmented market with private labels intensifying competition. Key strategies are product innovation, branding and competitive pricing.
Key Takeaways
The global Back Stretchers market is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing prevalence of back problems and rise in health awareness.
North America currently dominates the back stretchers market owing to large consumer base, sophisticated healthcare infrastructure and greater health awareness. Asia Pacific is anticipated to witness fastest growth due to rapidly developing healthcare infrastructure and growing middle class population.
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. The major players are focusing on new product launches and partnerships with healthcare facilities to gain higher market share. For instance, in 2022 Nubax launched an advanced back stretcher with adjustable lumbar support and ergonomic handles.
