Physiotherapy Equipment Market to achieve CAGR of 6.3% from 2023 and 2032, owing to growing demand for rehabilitative care | insightSLICE
The size of the global market for Physiotherapy Equipment was predicted to reach US$ 15.5 billion in 2021 and to increase at a CAGR of 6.3% between 2023 and 2032.
It is projected that the need for physiotherapy equipment will increase due to the growing and aging population, the development of chronic health conditions, and occupational health issues.
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Global Physiotherapy Equipment Market Key Segments:
By Component
- Equipment
- Electrotherapy equipment
- Ultrasound equipment
- Combination therapy equipment
- Laser therapy equipment
- Shockwave therapy equipment
- Cryotherapy equipment
- Diathermy equipment
- Continuous Passive Motion (cpm) equipment
- Portable kits
- Others
- Accessories
- Applicators
- Electrodes
- Others
By Application
- Musculoskeletal
- Neurological
- Cardiovascular & pulmonary
- Pediatric
- Gynecology
- Others
By End Use
- Hospitals
- Physiotherapy clinics & rehabilitation centers
- Home care & personal care
- Corporate
By Geography:
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
Globally, the number of persons with chronic and occupational health conditions like heart, neurological, and musculoskeletal problems is rising, with North America and Europe being the most severely impacted regions.
According to data from the United States Bone and Joint Initiative (USBJI), there are an estimated 127 million persons in the United States who suffer from musculoskeletal illnesses, which have an estimated direct and indirect cost of US$ 213 billion each year.
The number of resources consumed internationally as a result of musculoskeletal disorders is far greater than that suffered in the United States.
The key players of the Global Physiotherapy Equipment Market are:
Major companies operating in the Global Physiotherapy Equipment market are BTL, EMS Physio Ltd., Enraf-Nonius B.V., GymnaUniphy, Johari Digital, Medtronic Medicale SRL., Ito Co., Ltd., DJO Global Inc., and Zimmer MedizinSysteme GmbH, among others.
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Driving factors for the growth of Global Physiotherapy Equipment Market
The global physiotherapy equipment market is anticipated to grow at a CAGR of 6.2% in terms of revenue with volume consumption witnessing a growth of 6.3% during the forecast period 2020 – 2030.
With the development of medical technology, physiotherapy has been used as an efficient approach to treat many ailments, and demand for excellent physiotherapy equipment is rising. Another reason driving the need for physiotherapy equipment is the rise of chronic diseases like cardiovascular and pulmonary problems.
Additionally, it is projected that throughout the forecast period, growing awareness in Asia Pacific will support the expansion of the worldwide physiotherapy equipment market.
Due to the presence of numerous small and medium-sized regional producers and international firms operating in all the main countries, the global physiotherapy industry is fragmented. The global market for physiotherapy equipment is being dynamically shaped by all of the aforementioned factors.
The global market for combination therapy equipment will be driven by increasing demand for versatile equipment:
High penetration, broad range of uses, and affordable availability across all geographies, electrotherapy equipment contributed to 17.2% of the market.
During the projection period, the combination treatment equipment is expected to increase at a CAGR of 8.2% in terms of revenue and at a CAGR of 8.8% in terms of volume, making it the most profitable equipment type. The majority of manufacturers offer equipment that combines electrotherapy and ultrasound, for example, which gives numerous features in a single device.
In addition, manufacturers now provide a combination of cryotherapy and laser therapy to meet the growing demand for applications in sports medicine. As a result, a wide range of end consumers around the world has a significant need for combination therapy equipment.
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Regional performance of Physiotherapy Equipment Market
Widespread knowledge of the medical benefits of physiotherapy equipment and an increase in patients suffering from chronic non-communicable diseases and occupational health issues, North America accounted for the biggest proportion of the global market.
A growing senior population and an increase in the prevalence of musculoskeletal illnesses in the continent’s major nations are expected to increase demand.
Due to rising healthcare spending, increasing population awareness, and the expansion of the manufacturing of electromedical devices in China, Japan, and India, the Asia Pacific region is predicted to have the fastest-growing market for physiotherapy equipment during the forecast period, growing at a CAGR of 8.3% in terms of revenue.
The need for physiotherapy equipment is expected to increase as the number of physiotherapy clinics and rehabilitation facilities rises:
The market is divided into four categories based on the end user: corporate, home care & personal care, and hospitals, physiotherapy clinics & rehabilitation facilities. Public and private hospitals are further divided into subgroups within the hospitals.
The physiotherapy clinics and rehabilitation centers, which in 2019 had the greatest revenue share of 44.9% in the global market, are expected to expand significantly over the next few years. Small clinic demand has been supported by moderate capital expenditure and rising public knowledge of physiotherapy.
In addition, increasing post-surgical physiotherapy and a rise in outpatients are expected to enhance the demand for physiotherapy equipment from hospitals.
In-house physiotherapy clinic development is a major emphasis for many corporate companies to address the increased incidence of occupational health diseases among workers, which is predicted to increase during the projection period.
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