Market Summary: The global market for physiotherapy equipment reached a size of USD 16.54 billion in 2020, and it is projected to experience a revenue compound annual growth rate (CAGR) of 5.2% throughout the forecast period. The surge in demand for physiotherapy equipment is propelling market expansion, driven by the increasing adoption of Radio Frequency Identification (RFID) software solutions. These solutions facilitate the utilization of RFID tags and readers in various applications within hospitals, enabling the continuous monitoring of temperature, blood pressure, medications, and clinical trials.

Key Developments:

  • In December 2020, Sunbeam launched the GoHeat Cordless Heating Pad to relieve pain and treat sore muscles at home.
  • In February 2019, Colfax Corporation acquired DJO Global Inc., enhancing its provision of physical therapy and orthopedic products under the DJO brand.

Market Report Scope:

  • Market Size (2020): USD 16.54 Billion
  • CAGR (2020-2028): 5.2%
  • Revenue Forecast (2028): USD 24.91 Billion
  • Historical Data (2019-2020)
  • Forecast Period: 2021-2028
  • Segmentation: Equipment Type, End Use, Application, Region
  • Regional Scope: North America, Europe, Asia Pacific, Latin America, Middle East & Africa
  • Customization Scope: 10 hours of free customization and expert consultation.

Physiotherapy, also known as physical therapy, involves the maintenance and restoration of health through physical assessment, diagnosis, prognosis, patient examination, physical intervention, rehabilitation, disorder prevention, and health promotion. It is a non-invasive treatment approach for conditions such as fractures, trauma, joint disorders, and arthritis, avoiding the use of medications and surgery. Physiotherapy equipment plays a crucial role in these treatment procedures, assisting in daily tasks and contributing to the improvement of functionality, posture correction, muscle balance, and pain alleviation.

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Market Dynamics: Drivers:

  • The increasing prevalence of chronic disorders and a growing geriatric population globally are key drivers of market growth.
  • Incidences of sports injuries, cerebrovascular diseases, and joint problems further contribute to market expansion.
  • Urbanization, sedentary lifestyles, and busy schedules drive the preference for non-intrusive physiotherapy equipment for conditions like back and neck pain, arthritis, and post-surgery recovery.
  • Technological advancements, including robotic assistance systems and implantable devices, are fostering market development.

Restraints:

  • High maintenance costs and the presence of alternative therapeutic methods pose challenges to market advancement.
  • Factors such as poor healthcare facilities, unfavorable reimbursement policies, improper standardization, and the availability of alternative therapies like yoga and acupuncture may impede market growth.

Product Types: Physiotherapy equipment is categorized into various types, including electrotherapy, ultrasound, exercise therapy, cryotherapy, combination therapy, Continuous Passive Motion (CPM), shockwave therapy, laser therapy, traction therapy, and magnetic therapy equipment.

End Use: The end-use segments encompass hospitals, physiotherapy centers, clinics, and rehabilitation centers. Hospitals currently contribute the most significant revenue share due to the increasing preference of patients for multi-specialty hospitals for physiotherapy.

Applications: The applications of physiotherapy equipment cover musculoskeletal, neurological, cardiovascular and pulmonary, pediatric, and gynecological aspects. Neurological applications are expected to witness significant growth, addressing conditions such as spinal injuries, traumatic brain injuries, Parkinson's disease, and other neurological disorders.

Regional Outlook:

  • North America dominated the physiotherapy equipment market in 2020, driven by factors such as the increasing number of hospitals and a rise in osteoporosis cases.
  • The Asia Pacific region is anticipated to experience the fastest CAGR, attributed to a large number of key market players, the adoption of physiotherapy, and a growing geriatric population with chronic ailments.

Competitive Landscape: The global physiotherapy equipment market is moderately fragmented, with key companies like BTL Industries, DJO Global Inc., Dynatronics Corporation, EMS Physio Limited, Enraf-Nonius BV, HMS Medical Systems, Isokinetics Inc., ITO Co. Ltd, Life Care Systems, Patterson Medica, and Zynex Medical Inc. engaging in product development and strategic alliances to expand their product portfolios and gain a strong market foothold.

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