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 are medical devices used in physiotherapy to treat various musculoskeletal, neurological and cardiorespiratory diseases. These include equipment for electrotherapy, ultrasound, heat therapy, hydrotherapy, therapeutic exercise and continuous passive motion. They help in reducing pain and improving mobility in patients.
Market key trends:
Over the forecast period, increasing prevalence of chronic diseases, rising geriatric population, and growing need for early and effective rehabilitation are expected to propel the growth of physiotherapy equipment market. According to WHO, chronic diseases are projected to account for almost three-quarters of all deaths globally by the end of 2030. As a result, demand for physiotherapy and associated equipment is increasing. Also, aging population is at higher risk of developing disabilities and need assistance in daily activities, which is augmenting the adoption of physiotherapy globally. Technological advancements in physiotherapy equipment like combination of heat and electrotherapy modalities into single devices having improved capabilities is another key trend. However, high costs associated with physiotherapy treatment and devices may restrain the market growth.
Segment Analysis
The global physiotherapy equipment market is segmented into physiotherapy equipment, electrotherapy equipment, ultrasound equipment, exercise therapy equipment, and other physiotherapy equipment. Among these, exercise therapy equipment segment dominates the market and holds the largest market share. The segment largely contributes to market growth due to increasing usage of stationary and portable exercise therapy equipment such as treadmills, elliptical trainers, stationary bicycles for muscle strengthening and mobility enhancing physiotherapy sessions.
Key Takeaways
The Global Physiotherapy Equipment Market Size is expected to witness high growth, exhibiting a CAGR of 6.9% over the forecast period, due to increasing geriatric population and rising incidence of chronic diseases.
Regional analysis
North America dominates the global physiotherapy equipment market and is expected to continue its dominance over the forecast period. This is attributed to growing prevalence of chronic diseases such as cardiovascular diseases, cancer, and respiratory diseases in the region. The Asia Pacific region is expected to exhibit the highest growth rate over the forecast period owing to rapidly increasing geriatric population, rising healthcare expenditure, and improving healthcare infrastructure in emerging economies such as 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. The global physiotherapy equipment market is consolidated in nature with major players acquiring smaller players to strengthen their product portfolio and geographical presence. For instance, in 2019, DJO acquired competitive sports medicine company, Donjoy, to expand its product offerings in braces, supports and compression gear.
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