The growth of the global physiotherapy equipment market is driven by rise in prevalence of chronic diseases such as musculoskeletal diseases, neurological diseases, cardiovascular diseases, and others, increase in the number of geriatric populations, high presence of market players, rise in awareness among the population regarding physiotherapy treatment.
PORTLAND, Ore., Sept. 12, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Physiotherapy Equipment Market by Type (Equipment and Accessories), Application (Musculoskeletal, Neurology and Others), and End User (Hospital, Physiotherapy and Rehabilitation Center and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global physiotherapy equipment market was valued to reach $1,621.98 million in 2022 and is estimated to reach $2,795.10 million by 2032, exhibiting a CAGR of 5.6% from 2023 to 2032.
Physiotherapy equipment is used for the treatment of a range of disorders, injuries, and diseases. Electrotherapy equipment, ultrasound equipment, heat therapy equipment, cold therapy equipment, compression therapy equipment, and exercise therapy equipment are some of the physiotherapy equipment.
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Prime determinants of growth
Rise in prevalence of musculoskeletal diseases, neurological diseases and others, large presence of market players who manufacturers physiotherapy equipment is anticipated to boost the growth of market. However, high cost of physiotherapy treatment is anticipated to hinder the growth of market. On the contrary, high presence of physiotherapy equipment providers, increase in prevalence of chronic diseases and rise in awareness among the people regarding effectiveness of physiotherapy expected to witness growth during the forecast period.
Report coverage & details:
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2022 | $1,621.98 million |
Market Size in 2032 | $2,795.10 million |
CAGR | 5.6 % |
No. of Pages in Report | 363 |
Segments covered | Type, Application, End User and Region. |
Drivers | Rise in prevalence of Chronic disease such as musculoskeletal, neurological diseases and others High presence of physiotherapy equipment manufacturers Increase in number of geriatric populations |
Opportunities | Rise in adoption of number of strategies by market players of physiotherapy equipment |
Restraints | High cost of physiotherapy treatment |
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The equipment segment to maintain its leadership status throughout the forecast period.
Based on type, the equipment segment held the highest market share in 2022, accounting for more than two-thirds of the global physiotherapy equipment market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to the high presence of market players who manufactures physiotherapy equipment. However, the accessories segment is projected to manifest significant growth with a CAGR of 5.9% from 2023 to 2032, owing to the increase in awareness among the population regarding physiotherapy treatment.
The musculoskeletal segment to maintain its leadership status throughout the forecast period.
Based on application, the musculoskeletal segment held the highest market share in 2022, accounting for nearly three-fifths of the global physiotherapy equipment market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to rise in prevalence of musculoskeletal diseases. However, the neurology segment is projected to manifest a significant CAGR of 6.2% from 2023 to 2032, owing to increase in adoption of physiotherapy for treatment of neurological diseases.
The physiotherapy and rehabilitation center segment to maintain its leadership status throughout the forecast period.
Based on end user, the physiotherapy and rehabilitation center segment held the highest market share in 2022, accounting for nearly half of the global physiotherapy equipment market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to rise in number of physiotherapy and rehabilitation centers. However, the others segment is projected to manifest a significant CAGR of 6.3% from 2023 to 2032.
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North America to maintain its dominance by 2032.
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global physiotherapy equipment market revenue. This is attributed to high presence of physiotherapy equipment manufacturers in North America and rising prevalence of chronic disease such as musculoskeletal diseases. However, the Asia-Pacific region is expected to witness the fastest CAGR of 6.5% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to rising number of geriatric populations, as geriatric population is more susceptible to chronic diseases and others and increase in awareness among the people regarding physiotherapy treatment.
Leading Market Players: -
- EMS Physio Ltd.
- BTL Corporate
- Zynex Medical Inc.
- Enraf-Nonius B.V.
- Zimmer Medizinsysteme Gmbh
- Dynatronics Corporation
- Storz Medical Ag
- Richmar
- Performance Health
- Enovis Corporation
The report provides a detailed analysis of these key players of the global physiotherapy equipment market. These players have adopted different strategies such as agreement, partnership, acquisition, and business expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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