Physiotherapy Equipment & Accessories Market Worth $27.62 billion by 2030
Added: (Wed Nov 08 2023)
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Meticulous Research®—a leading market research company, published a research report titled ‘Physiotherapy Equipment Market by Product (Electrotherapy, Ultrasound Therapy, Shockwave, Traction, Accessories), Application (Musculoskeletal, Neurology, Pediatric, Cardiovascular), End User (Hospital, Rehabilitation Centre)—Global Forecast to 2030.
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According to this latest publication from Meticulous Research®, the physiotherapy equipment & accessories market is projected to reach $27.62 billion by 2030, at a CAGR of 5.5% from 2023 to 2030. The growth of this market is driven by factors such as the rising geriatric population and the subsequent increase in chronic disease prevalence, the high number of people living sedentary lifestyles resulting in increased back injuries, the rising incidence of sports injuries, and technological advancements. Additionally, emerging economies and increasing demand for home healthcare services are expected to offer opportunities for the market’s growth. However, uncertainty in reimbursement frameworks and a shortage of skilled professionals hamper the growth of this market.
Technological Developments in Physiotherapy Equipment
The physiotherapy sector is constantly changing as modern technologies emerge to improve therapy practices. The recent developments have taken this sector to a new level and led physiotherapists to update their treatment approaches in several ways. One of these advanced technologies is equipment based on wearable resistance technology designed to improve people’s movement. This compression-based high-performance sports garment applies weights/loads to any body part. It helps in early strengthening and Return-To-Sports (RTS) stages when the injury is healed, but the body is still unbalanced. For instance, in January 2023, LILA (Malaysia) partnered with House of Athlete (HOA), a gym based in Florida, to provide LILA’s Exogen product, based on wearable resistance technology, to the athletes.
Additionally, innovations and technology have made electromyography biofeedback machines cheaper and smaller to help treat various nervous system issues, including amyotrophic lateral sclerosis and myasthenia gravis. Hence, technological advancements increase the demand for physiotherapy equipment.
The physiotherapy equipment & accessories market is segmented based on Product [Equipment (Electrotherapy/Electric Stimulation, Cryotherapy, Ultrasound Therapy, Heat Therapy, Hydrotherapy, Combination Therapy, Shockwave Therapy, Traction Therapy, Continuous Passive Motion Therapy, Exercise Therapy, Laser Therapy, Other Equipment), Accessories (Furniture, Other Accessories)], Application (Musculoskeletal, Neurology, Pediatrics, Cardiovascular & Pulmonary, Other Applications), End User (Hospitals & Clinics, Physiotherapy And Rehabilitation Centers, Other End Users), and Geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.
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Based on product, in 2023, the equipment segment is expected to account for the largest share of the physiotherapy equipment & accessories market. The large market share of this segment is attributed to the wide availability of physiotherapy equipment and its benefits in helping patients with physical activities. For instance, electrotherapy equipment is widely used in rehabilitation centers and hospitals for treating muscle pain and injuries. This non-invasive therapy is highly effective in treating conditions such as chronic pain, musculoskeletal injuries, and muscle wasting.
Based on application, in 2023, the musculoskeletal segment is expected to account for the largest share of the physiotherapy equipment & accessories market. The large market share of this segment is attributed to the rising number of people with musculoskeletal disorders requiring physiotherapy for recovery.
Based on end user, the physiotherapy equipment & accessories market is segmented into hospitals & clinics, physiotherapy and rehabilitation centers, and other end users. In 2023, the hospitals & clinics segment is expected to account for the largest share of the physiotherapy equipment & accessories market. Hospitals & clinics are the primary choices for treatment in various countries. Preoperative and postoperative physiotherapies are recommended to patients to prepare the body before surgery and restore natural body movement after the surgery. Thus, the rising number of people undergoing surgeries in hospitals contributes to the increased adoption of physiotherapy equipment.
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America (Brazil, Mexico, and RoLATAM), and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the physiotherapy equipment & accessories market, followed by Europe and Asia-Pacific. North America’s major market share is attributed to the high incidence rate of lifestyle-related disorders and technological advancements in physiotherapy equipment.
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The key players operating in the physiotherapy equipment & accessories market are Enraf-Nonius B.V. (Netherlands), BTL (U.K.), EMS Physio LTD. (U.K.), Dynatronics Corporation (U.S.), Richmar (U.S.), STORZ MEDICAL AG (Switzerland), Enovis Corporation (U.S.), Zimmer MedizinSysteme GmbH (Germany), Mectronic Medicale S.r.l. (Italy), Ito Co., Ltd. (Japan), Zynex, Inc. (U.S.), and A. Algeo Ltd (U.K.).
Key questions answered in the report-
• Which are the high-growth market segments in terms of product, application, end user, and geography?
• What was the historical market for physiotherapy equipment & accessories across the globe?
• What are the market forecasts and estimates for the period 2023–2030?
• What are the major drivers, restraints, opportunities, and challenges in the physiotherapy equipment & accessories market?
• Who are the major players in the physiotherapy equipment & accessories market?
• What is the competitive landscape, and who are the market leaders in the physiotherapy equipment & accessories market?
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