Waist support belts are widely used by people who suffer from backaches, sports persons who may be prone to back injuries and people who want to improve their posture. Waist support belts are available in a variety of styles and designs and often cater to specific requirements of individuals.
The waist support belt market is fragmented due to ease of manufacturing products and the geographical spread of manufacturers. Several players form the healthcare industry too have been increasing their participation in the market due to its steady growth. As a result, mergers and acquisitions, joint ventures and new product launches are a common phenomenon in the market.
Some of the key players in the waist support belt market include AidBrace, 3M, Aspen Medical Products, DeRoyal Industries, Mueller, NYOrtho, TOROS-GROUP, Hely & Weber, CFR, CROSS1946, Breg, LP, POWER GUIDANCE, Ossur Corporate, UFEELGOOD, Otto Bock Healthcare, Hysenm, ITA-MED, Wonder Care, Alcare Company, BraceUP, RDX, Bracoo, FOUMECH, Bauerfeind, velpeau, Frank Stubbs Company, ABAHUB, FLA Orthopedics, Swedish Posture, BSN Medical and DJO Global.
Focus areas for manufacturers in recent years have been a combination of utility, style and product flexibility. Several manufacturers have been producing adjustable and multi-functional belts. At the same time, some products cater to specific consumer groups, such as orthopaedic patients, workmen and sports persons.
Distribution channels in the market have undergone a paradigm shift in recent years due to increasing online purchases of waist support belts. As a result, companies have attempted to increase their online brand visibility and also sell their products directly from their website, thus leading to a need for logistical syndication. For example, DJO Global entered into a strategic partnership with XPO Logistics in 2018, as part of which XPO Logistics will handle DJO Global’s North American distribution operations.
However, distribution patters remain tilted towards traditional distribution channels such as retail stores, supermarkets, chemists and orthopaedic clinics at the moment. As a result, syndication between traditional vendors and manufacturers continues to be an enduring phenomenon.
Some popular products available in the market include Ergodyne ProFlex, Neotech Care Back Brace, OMAX Lumbar Support Back Brace, BraceAbility Industrial Work Back Brace, TOROS-GROUP Comfort Posture Corrector Clavicle and Shoulder Support Back Brace, BAAXZ Back Brace, Mueller Adjustable Back Brace, Copper Compression Slim Back Brace, FITGAME Back Brace, Vive Lower Back Brace, King of Kings Lower Back Brace, ORTONYX Lumbar Support Belt, Freetoo Back Brace and FEATOL Back Brace Support Belt.
Drivers of the Waist Support Belt Market
A rise in number of back injuries caused due to heavy lifting done with lack of technique and form are a leading driver of the waist support belt market. Increasing sedentary lifestyles and long working hours for professionals has been causing causes of poor sitting and standing postures and has led to an increase in demand for waist support belts. Athletes too have been increasing their usage of waist support belts to safeguard against injuries.
Impact of Covid-19
The economic crisis being caused due to the Covid-19 pandemic is leading to job losses and a reduction in people’s disposable incomes. This may consumers wary of purchasing waist support belts unless these belts can be projected as a core necessity. However, the dependency of current users for waist support belts is likely to continue. This will prevent the market from going into a negative growth curve, but previously forecast growth trajectories need to be relooked.
The North American regional segment accounted for the largest share in the waist support belt market. It was followed by the European segment. Increasing sedentary lifestyles, high proportion of older populations and high product penetration are the core causes for the market’s success in these regions.
The East Asian and South Asian regional segments have seen the fastest growth in recent years on account of the growing economies of China, India and Southeast Asia. Increasing westernisation in these regions has also contributed to this growth. Latin America, Middle East and Africa and Oceania are the other ley regional segments.
The waist support belt market can be segmented based on the following:
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.