Global Hand Therapy Egg Balls Market - 2022-2029

Global Hand Therapy Egg Balls Market - 2022-2029

Market Overview

Hand Therapy Egg Balls Market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of YY % during the forecast period (2022-2029).

Hand therapy egg balls are frequently used in recovery and sports/exercise settings. To help develop strength and dexterity in the hands and fingers, use the egg-shaped exerciser as part of a progressive resistance training program after an accident or injury. It is ideal for improving wrist movement and post-surgery flexibility to improve muscle tone and strength in the targeted regions. Growing demand for hand therapy egg balls in several applications, ranging from Gym, home, clinics, and others, are some of the key factors that are estimated to boost the growth of the hand therapy egg balls market. Moreover, the rising incidence of injuries in the sports industries and growing awareness among people about hand therapy egg balls are expected to leverage market growth over the forecast years.

Market Dynamics: Growing demand from end-use industries drives market growth

The hand therapy egg balls have a wide range of applications in gyms, clinics, homes, and other industries. The factor attributed to the usage of hand therapy egg balls is their inherent properties. It is ideally used as a stress relief tool and has tremendous application in treating carpal tunnel syndrome, osteoarthritis, and RSI to help relieve pain & comfort. Hence, due to such inherent properties, hand therapy egg balls gain a potential demand from end-use industries.

However, the Lack of awareness concerning the health advantages of Hand Therapy Egg Balls among individuals is a key factor expected to curtail the global market's growth over the forecast period. Moreover, other alternative therapies of hand therapy egg balls are another factor expected to hinder the total market's growth shortly.

Market Segmentation: The medium therapy egg balls segment will project the fastest growth in the market throughout the forecast period

Based on the Product, the hand therapy egg balls market has been classified into XX-light, X- light, Light, Medium, and heavy/X-heavy.

Medium Hand Therapy Egg Balls dominated the global market in 2021; it is also expected to present considerable growth soon. Since medium hand therapy egg balls are standardized in shape, size, and weight, they can be an optimum option for users in gyms, clinics, and homes. Therefore, it is gaining potential global demand over the forthcoming period.

Hand therapy egg balls are segmented based on application, which includes a gym, home, and clinics.

Clinics held a significant market share in the global market during the forecast period. Commendable application of hand therapy egg balls in the rehabilitation process, stroke recovery, arthritis, and others supports the segment growth during the forecast period. Moreover, the home segment is expected to project a considerable CAGR during the forecast period. Rising awareness regarding stress buster tools is expected to propel segment growth shortly.

Geographical Penetration: Asia Pacific is the dominating region during the forecast period.

Based on geography, the study analyzes the Hand Therapy Egg Balls market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

Asia Pacific is expected to observe rapid growth in the hand therapy egg balls market over the forecast period, backed by a rise in gyms production, growing awareness among people regarding stress-related diseases, and to increase the sports industry in the region. Moreover, Asia Pacific is the fastest-growing region in the global hand therapy egg balls market due to rising urbanization across the region. The Middle East & Africa and South America are expected to create new growth opportunities in the global hand therapy egg balls market due to an increase in demand for indoor exercise equipment across the regions.

Whereas, North America is holding a significant market share in the global hand therapy egg balls market in 2021. Factors attributed to the dominating position of the region in the market are the rising incidence of chronic diseases in the region.

Competitive Landscape:

The hand therapy egg balls market is highly competitive, owing to many industry players. The critical hand therapy egg balls players contributing to the global market's growth include MVS In Motion, Decathlon, Peradix, JBM, Fabrication Enterprises Inc., IronMind, SQUEGG, AFH Webshop, AllCare, ORIORI , GAIAM, among others. The major players are adopting new product launches and expansion strategies for global growth in the Hand Therapy Egg Balls market. In December 2021, Philips, a global leader in health technology, acquired Vesper Medical, a US-based medical technology company that develops minimally-invasive peripheral vascular devices to expand its image-guided therapy devices portfolio. This acquisition is another step to innovating patient treatment with more sophisticated technology and expanding growth in the vascular therapy space. In June 2022, Vekrangee collaborated with Decathlon Sports India Pvt Ltd, a world leader in sports equipment; to offer a complete range of sports equipment’s and products to the unserved and underserved population of India had partnership to provide complete sports products across its platform. With this collaboration company strategically added a complete bouquet of sports equipment products at their Nextgen Kendras & BharatEasy Mobile App, making them a one stop for all the sports goods requirements of their customers.

COVID-19 Impact: Negative impact on the global hand therapy egg balls market.

The COVID-19 pandemic has impacted all sectors, led to a loss of human life worldwide and presented an unprecedented challenge to public health. The economic and social disruption caused by the pandemic is devastating: tens of millions of people are at risk of falling into extreme poverty, while the number of undernourished people, currently estimated at nearly 690 million, increased by up to 132 million by the end of 2020. A decrease in the disposable income of people prevents them from buying less essential things like hand therapy egg balls. Border closures, trade restrictions and confinement measures have regularly prevented manufacturers from producing hand therapy balls. The outbreak of COVID-19 has negatively impacted the growth of the hand therapy egg balls market globally. The disruption in the supply chain has majorly impacted the supply of essential raw materials and hand therapy egg balls production amidst the pandemic. Therefore, the COVID-19 pandemic hampered the hand therapy egg balls market's market value in 2020.

The global hand therapy egg balls market report would provide an access to approximately 59 market data tables, 47 figures and 170 pages