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Physiotherapy Equipment Market Size To Hit $33.5 Billion By 2030, Owing To Increasing Number of Rehabilitation Centers And Rising Cases of Road Accidents | Grand View Research, Inc.

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Physiotherapy Equipment Market Size To Hit $33.5 Billion By 2030, Owing To Increasing Number of Rehabilitation Centers And Rising Cases of Road Accidents | Grand View Research, Inc.

May 20
11:15 2022
Physiotherapy Equipment Market Size To Hit $33.5 Billion By 2030, Owing To Increasing Number of Rehabilitation Centers And Rising Cases of Road Accidents | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting
According to new report available with Grand View Research, the global physiotherapy equipment industry is expected to grow, due to Improper eating habits and a stressful lifestyle that result in discomfort in the ligaments, nerves, muscles, back, and neck, as well as a growing prevalence of stroke and Parkinson’s disease, during the forecast period.

Physiotherapy Equipment Market Overview

The global physiotherapy equipment market size was valued at USD 19.1 billion in 2021 and is expected to reach USD 33.5 billion by 2030, registering a CAGR of 6.69% over the forecast period. Increasing cases of road accidents and injuries and the rising number of rehabilitation centers are expected to drive the demand for physiotherapy devices.

Improper eating habits and a stressful lifestyle that result in discomfort in the ligaments, nerves, muscles, back, and neck, as well as a growing prevalence of stroke and Parkinson’s disease, are expected to fuel the market. Due to the added benefits of physical therapy, physicians have begun prescribing it to patients, which has resulted in an increase in demand for physical therapy equipment.

Gather more insights about the market drivers, restrains and growth of the Global Physiotherapy Equipment Market

Physiotherapy, alternatively referred to as physical therapy, is a type of treatment used to improve and restore appropriate body function. It utilizes a variety of technology and methods to help patients maintain their health and recover quickly from medical issues. These treatments are usually longer in duration and are performed in outpatient clinics. On the other hand, inpatient rehabilitation treatments are often reserved for patients who are being observed following surgery.

U.S. physiotherapy equipment market size, by application, 2020 - 2030 (USD Billion)

An aging population and the increasing prevalence of cardiovascular, neurological, and musculoskeletal diseases are likely to propel market growth, not only in established economies but also in emerging economies such as India and China. According to the WHO’s National Institute on Aging, the incidence of dementia and neurodegenerative illnesses is anticipated to increase significantly (by 25%–30%). Dementia eventually results in the impairment of thinking and speech-motor abilities. The majority of these patients eventually require continual care, monitoring, and assistance, which can be decreased by the use of physiotherapy equipment.

Asia and Europe have the world’s highest proportion of the elderly population and are estimated to remain the same for at least the next 50 years. Many countries are working either individually or in collaboration to address age-related cost & care challenges and prevent & control chronic diseases. Chronic diseases such as asthma, diabetes, COPD, and arthritis are the leading causes of mortality globally and represent 63% of all deaths. Cardiovascular diseases and diabetes are extremely prevalent in the Middle East & Africa as well as Asia. In general, the older population has a greater risk of developing disabilities as compared to others. With the increase in the geriatric population, the demand for rehabilitation and physical therapy is expected to grow rapidly in the coming years.

The International Osteoporosis Foundation predicted in 2019 that by 2025, Europe’s population with osteoporosis might reach 33.9 million, up 23% from 26.5 million in 2010. Additionally, the study indicated that by 2050, Asia is expected to account for more than half of all osteoporotic hip fractures. Thus, as orthopedic diseases become more prevalent, demand for rehabilitation treatments increases. Additionally, neurological disorders account for a sizable portion of global morbidity and mortality, with stroke being the leading cause of death.

Physiotherapy Equipment Market Segmentation

Based on the Application Insights, the market is segmented into Neurology, Musculoskeletal, Pediatrics, Cardiovascular & Pulmonary and Others

  • The musculoskeletal segment with 60.3% in 2021 held the maximum portion of the market, primarily due to the increasing cases of musculoskeletal disorders.
  • The cardiovascular and pulmonary segment is expected to witness substantial growth over the forecast period due to the rising adoption of physical therapy services in developing nations.

Based on the Equipment Type Insights, the market is segmented into Hydrotherapy, Cryotherapy, Continuous Passive Motion (CPM), Ultrasound, Electric Stimulation, Heat Therapy, Therapeutic Exercise and Others

  • The ultrasound segment dominated the physiotherapy equipment market with a share of 41.7% in 2021 and is expected to register a high CAGR during the forecast period.
  • The thermoelectric stimulation segment accounted for the second-largest market share in 2021.
  • Increasing awareness and the rising number of hydrotherapy providers are anticipated to propel the hydrotherapy segment growth.

Based on the Demographics Insights, the market is segmented into Geriatric Population and Non-geriatric Population

  • The non-geriatric patient population accounted for a major portion of the market in 2021. An increase in hospital stays and visits is anticipated to positively influence the segment growth over the forecast period.
  • Rapidly rise in aging populations is anticipated to boost the geriatric population segment.

Based on the End-use Insights, the market is segmented into Hospitals & Clinics, Rehabilitation Centers and Others

  • The hospitals & clinics segment held the largest market share pertaining to a large patient pool and implementation of various programs by hospitals.
  • Rehabilitation centers is also expected to register the fastest growth in the forecast period.

Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa

  • North America dominated the global market with a share of 38.5% owing to rising cases of accidents and mishaps, growing incidence of osteoporosis, and an increasing geriatric population.
  • The Asia Pacific is expected to witness a remarkable growth rate over the forecast period.

Browse through Grand View Research’s Medical Devices Industry Research Reports.

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Market Share Insights

  • February 2019: DJO Global, Inc. was acquired by Colfax for USD 3.15 billion. This acquisition helped Colfax to widen its product portfolio in the company’s orthopedic segment.
  • May 2019: Athletico acquired Maximum Impact Physical Therapy (MIPT), which operates clinics offering occupational therapy, physical therapy, and other specialized therapy services. This acquisition enabled Athletico to enter Texas (Dallas) and Tucson (Arizona) markets.

Key Companies Profile

Some of the prominent players in the global physiotherapy equipment market include:

  • BTL
  • EMS Physio Ltd.
  • Dynatronics Corporation
  • RICHMAR
  • Performance Health
  • Storz Medical AG
  • Zimmer MedizinSysteme GmbH
  • ITO Co., Ltd.
  • Enraf-Nonius B.V.
  • Whitehall Manufacturing

Order a Free sample PDF of the Physiotherapy Equipment Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

 Web: https://www.grandviewresearch.com

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