The global Physiotherapy Equipment Market is estimated to be valued at US$ 24.66 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Physiotherapy equipment refers to devices used for physical therapy to treat injury, disease or disability through physical exercises, massage and other treatments. Some common physiotherapy equipment include electrotherapy devices, ultrasound, thermo-therapy devices, continuous passive motion therapy, shockwave therapy and laser therapy devices. Electrotherapy devices segment holds the largest share as it helps in pain management and improved mobility using electrical modalities.
Market key trends:
One of the key trends in the physiotherapy equipment market is increasing adoption of telehealth and remote patient monitoring. This is because telehealth facilitates remote patient monitoring and virtual physiotherapy sessions using digital health technologies. This is helpful especially during the times of pandemic when social distancing is important. Secondly, the popularity of wearable physiotherapy devices is growing owing to advantages like continuous monitoring, portability and mobility. Further, innovations focused on non-invasive and painless treatments are also driving the demand for new generation physiotherapy equipment.
SWOT Analysis
Strength: Physiotherapy equipment provides non-invasive treatment options for various musculoskeletal conditions and sports injuries. It helps in pain management and rehabilitation of patients.
Weakness: High costs associated with physiotherapy equipment can limit their adoption, especially in developing regions. Lack of awareness about newer technologies can hamper market growth.
Opportunity: Rising geriatric population suffering from conditions like arthritis is driving the demand. Growing incidence of road accidents and trauma cases necessitates physiotherapy treatment.
Threats: Alternate treatment modes like yoga and acupuncture are gaining popularity. Reimbursement issues in some countries pose a challenge.
Key Takeaways
The Global Physiotherapy Equipment Market Size is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing incidence of road accidents, sports injuries, and chronic diseases. North America dominates the market currently due to rising healthcare expenditure and availability of advanced devices.
Regional analysis
Europe is also a major market for Physiotherapy Equipment owing to supportive government initiatives for rehabilitation. The Asia Pacific region is expected to grow at the fastest pace during the forecast period driven by expanding medical infrastructure, growing health awareness, and increasing healthcare expenditure in countries like China and India.
Key players
Key players operating in the Physiotherapy Equipment market are Enraf-Nonius B.V., DJO Global, EMS Physio Ltd., Dynatronics Corporation, A. Algeo Limited, BTL Industries, Inc., HMS Medical Systems, Whitehall Manufacturing, Patterson Companies, Inc., and Isokinetics, Inc. These players are focusing on new product launches and strategic collaborations to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
