What is the Future Growth Analysis of Physiotherapy Equipment Market?
The physiotherapy equipment market is projected to reach USD 21.1 billion by 2024 from US 15.0 billion in 2018, at a CAGR of 5.8%.
What are the Key Factors Driving Growth in Physiotherapy Equipment Market?
The growth of this market is primarily driven by rapidly growing geriatric population and the subsequent increase in the global prevalence of chronic diseases, and growing incidence of sports injuries, degenerative joint disorders, and cerebrovascular disease.
What are the latest Opportunities and Challenges in the Global Physiotherapy Equipment Market?
Opportunities:
1. Emerging Markets
2. Technological Advances
Challenges:
1. Shortage of Skilled Personnel
2. Alternative therapies Such as Acupuncture
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Global Market Segmentation:
In the current market scenario, there is a growing demand for physiotherapy equipment. The market has been categorized based on product, application and region.
The electrotherapy equipment segment is projected to hold the largest share of the market, during the forecast period. The large share of the segment is primarily attributed to the by rapid adoption electrical stimulation-based techniques in rehabilitation.
Transcutaneous Electrical Nerve Stimulation, Functional Neuromuscular Stimulation, H-wave Stimulation, Neuromuscular Electrical Stimulation, Interferential Stimulation, Microcurrent Stimulation, Galvanic Stimulation, Sympathetic Therapy, Peripheral Subcutaneous Field Stimulation, Peroneal Nerve Stimulation, and Auricular Stimulation (P-stim).
On the basis of application, the 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 market, followed by the neurological applications segment. 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.
Geographical Growth Analysis Of Global Physiotherapy Equipment Market:
The physiotherapy equipment industry is predominantly divided into four major geographies, namely, North America, Europe, Asia Pacific, and the Rest of the World. Europe accounted for the largest share of this market, followed by North America. The major drivers for the growth of this market are the rising geriatric population, increasing inclination for active lifestyles, the penetration of physiotherapy services, and favorable healthcare reforms. However, an uncertain reimbursement scenario and the need for reforms in physiotherapy educational practices are hindering the growth of this market.
Key Market Players:
Major vendors in the physiotherapy equipment market include DJO Global (US), Performance Health (US), BTL Industries (US), and EMS Physio (UK).
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What are the Recent Developments in The Physiotherapy Equipment Market?
1. In 2018, DJO entered into a strategic partnership with XPO Logistics, to manage portions of DJO’s North American distribution operations.
2. In 2017, Dynatronics partnered with Orthopedic Outfitters to distribute Dynatronics’ physiotherapy and rehabilitation products.
Key Information Addressed in Research Study:
1. Who are the major market players in the physiotherapy equipment and accessories market?
2. What are the growth trends and the largest revenue-generating region for physiotherapy equipment?
3. How are physiotherapy equipment sold to customers?
4. What are the major types of physiotherapy equipment and accessories?
5. What are the driving, restraining, opportunistic, and challenging factors for this market?
