Physiotherapy Equipment Market by Product (Laser Therapy, Ultrasound, Cryotherapy, Electrotherapy, and Accessories), Application (Musculoskeletal, Gynecology, Pediatric, Cardiovascular), and Region - Global Forecast to 2024
“Rapidly growing geriatric population is expected to drive the overall growth of the physiotherapy equipment market.”
The physiotherapy equipment market is projected to reach USD 21.1 billion by 2024 from USD 15.0 billion in 2018, at a CAGR of 5.8% during the forecast period.
The physiotherapy equipment market is projected to reach USD 21.1 billion by 2024 from USD 15.0 billion in 2018, at CAGR of 5.8%. Market growth can be attributed to factors such as the rapidly growing geriatric population and the subsequent increase in the global prevalence of chronic diseases and the growing incidence of sports injuries, degenerative joint disorders, and cerebrovascular disease. The emerging market and technological advances in physiotherapy equipment are expected to provide opportunities for growth for players in the market. On the other hand, the unstable reimbursement scenario for physiotherapy, the shortage of skilled personnel, and alternative therapies such as acupuncture are expected to challenge market growth to a certain extent.
“The equipment segment accounted for the largest share in 2018.”
Based on product, the physiotherapy equipment market is divided into two major segments— equipment and accessories. The equipment segment accounted for the largest share of the physiotherapy equipment market in 2018. Market growth is largely driven by factors such as the rapidly aging population, growing adoption of healthier lifestyle habits, and the increasing incidence of injuries and chronic diseases. However, the high costs associated with physiotherapy, coupled with regular maintenance and strict regulations, are hindering the growth of this market.
“The musculoskeletal segment accounted for the largest market share in 2018.”
On the basis of application, the physiotherapy equipment market is segmented into cardiovascular and pulmonary applications, musculoskeletal applications, neurological applications, pediatric applications, gynecological applications, and other applications (includes sports and palliative care). In 2018, the musculoskeletal applications segment accounted for the largest share of the physiotherapy equipment market. The large share of the musculoskeletal applications segment is attributed to the rising incidence of musculoskeletal disorders, growth in the geriatric population, and the increasing number of accidents.
“Asia Pacific is expected to record the highest growth rate during the forecast period.”
The APAC physiotherapy equipment market, particularly in China, Japan, South Korea, Singapore, and India is expected to witness high growth in the next five years. Rising geriatric population, growing number of private sector hospitals, developments in primary healthcare infrastructure are the major factors driving the growth of this market.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the physiotherapy equipment market.
By Company Type: Tier 1: 40%, Tier 2: 30%, and Tier 3: 30%
By Designation: C-level Executives: 27%, Directors: 18%, and Others: 55%
By Region: North America: 50%, Europe: 20%, APAC: 20%, and RoW: 10%
The physiotherapy equipment market comprises major equipment and accessories vendors include DJO Global (US), Performance Health (US), BTL Industries (US), and EMS Physio (UK). The study includes an in-depth competitive analysis of these key players in the physiotherapy equipment market, along with their company profiles, recent developments, and key market strategies.
The market study covers the physiotherapy equipment market across various segments. It aims at estimating the market size and the growth potential of this market across different segments, on the basis of products, applications, and regions. The study also includes an in-depth competitive analysis of the key players in the market; along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall physiotherapy equipment market and its subsegments. This report will help the stakeholders to understand the competitive landscape, to gain more insights to better position their businesses, and to plan suitable go-to-market strategies. The report will also help the stakeholders to understand the pulse of the market and will provide them with information on key market drivers, restraints, challenges, and opportunities.
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