Global Physiotherapy Equipment Market Size, Trends & Analysis - Forecasts to 2026 By Product (Equipment, Accessories), By Application (Musculoskeletal Applications, Cardiovascular & Pulmonary, Neurological, Pediatric Applications, Gynecological, Others), By End-Use (Hospitals, Physician Offices, Physiotherapy & Rehabilitation Centers, Home Care Settings, Others), By Region (North America, Europe, Asia Pacific, MEA, CSA); End User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Physiotherapy Equipment Market: Insights
The global physiotherapy equipment market is expected to generate revenue amounting to USD 16.62 billion in 2020, and is projected to reach to USD 22.89 billion by 2026, growing at a CAGR of 5.84% over the forecast period. Increasing cases of road accidents and injuries are expected to drive the demand for physiotherapy equipment. Unhealthy eating habits and hectic lifestyle resulting in pain in the ligaments, nerves, muscles, back, and neck among other parts are also driving the market growth for physiotherapy equipment. Also, increasing prevalence of stroke and Parkinson’s disease are also likely to drive the market growth.
The rapidly growing ageing population and the subsequent increase in the global prevalence of chronic diseases across various regions including North America, Europe, Asia Pacific, and Central & South America is further projected to propel the market growth for physiotherapy equipment. The growing incidence of sports injuries, degenerative joint disorders, and cerebrovascular disease is also expected to propel the market growth during the forecast period. According to the data published by World Health Organization, cardiovascular diseases accounted for nearly 17.9 million deaths per year, and this number is expected to grow to more than 23.6 million by 2030. However, high cost of equipment’s and shortage of skilled personnel, are likely to hamper the market growth over the coming years.
Physiotherapy Equipment Market Size: By Segmentation
The global Physiotherapy Equipment market is segmented on the basis of product type into equipment and accessories. The equipment segment is further segmented into electrotherapy equipment, ultrasound equipment, exercise therapy equipment, cryotherapy equipment, combination therapy equipment, continuous passive motion therapy equipment, shockwave therapy equipment, and laser therapy equipment among others. The accessories segment is sub segmented into physiotherapy furniture, and physiotherapy tapes and bandages. The equipment segment is expected to hold the largest market share and is expected to grow at a high CAGR in the global physiotherapy equipment market during the forecast period. Growing use of neuromuscular electrical stimulation and therapeutic electrical stimulation in clinical settings for rehabilitation treatment is driving the market growth for equipment segment. The growing innovative product development by manufacturers and receiving approval from the regulatory authorities is also propelling the market growth for the segment.
On the basis of application, the global physiotherapy equipment market is segmented into cardiovascular and pulmonary applications, musculoskeletal applications, neurological applications, pediatric applications, and gynecological applications among others. The musculoskeletal applications segment is expected to hold the largest market share during the forecast period. According to WHO estimates, more than 80% of the population is expected to suffer from musculoskeletal disorders, during their lifetime. Rising incidence of musculoskeletal disorders, growth in the geriatric population, and the increasing number of accidents are some of the major factors expected to propel the market growth during the forecast period. According to a data published by the Centers for Disease Control and Prevention (CDC), around 300,000 people above the age of 65 are hospitalized in the U.S. for hip fractures every year.
Physiotherapy Equipment Market Size: By Region
On the basis of region, the market of Physiotherapy Equipment is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The North America region is expected to dominate the market during the forecast period. In the United States, approximately 84 million people suffer from some form of cardiovascular disease, which causes around 2,200 deaths per day. The presence of key vendors including DJO Global, BTL Industries Inc., Performance Health, Dynatronics Corporation, and Whitehall Manufacturing among others is driving the market growth in the region. Asia Pacific region is expected to grow at a high CAGR during the forecast period. The rising geriatric population, the growing number of private sector hospitals, developments in primary healthcare infrastructure, and the inclination towards active lifestyles are some of the major factors expected to drive the market growth in the region.
Physiotherapy Equipment Market Share & Competitor Analysis
Some of the key players operating in the physiotherapy equipment market include: DJO Global, BTL Industries Inc., Enraf-Nonius B.V., Dynatronics Corporation, Performance Health, ITO Co., Ltd., Whitehall Manufacturing, Zimmer MedizinSysteme GmbH, Mectronic Medicale, EMS Physio Ltd., Life Care Systems, Zinex Inc., STORZ Medical AG, and Mettler Electronics Corp., among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In 2019, Colfax Corporation (U.S.) acquired DJO Global (U.S.). Through the acquisition Colfax Corporation will provide physical therapy and orthopedic products under the DJO brand.
In July 2018, Mectronic Medicale (Italy) launched Doctor Tecar XP, an electromagnetic tecar therapy stimulator.
In April 2018, DJO Global (US) entered into a strategic partnership with XPO Logistics (US) to manage portions of DJO’s North American distribution operations. Under this partnership, DJO opened a state-of-the-art distribution center in Dallas–Fort Worth, Texas, which is being managed by XPO.
In February 2018, EMS Physio Ltd. (UK) launched NeuroTrac PelviTone Dual-channel Stimulator.
Physiotherapy Equipment Market: By Product
Physiotherapy Equipment Market: By Application
Physiotherapy Equipment Market: By End-Use
Physiotherapy Equipment Market: By Region
The global Physiotherapy Equipment Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Physiotherapy Equipment Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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