Physiotherapy Equipment Market growth projection to 5.90% CAGR through 2033
According to the Market Statsville Group (MSG), the?global physiotherapy equipment market?size is expected to grow from?USD 18.40 billion in 2022?to?USD 34.57 billion by 2033, at a?CAGR of 5.90%?from 2022 to 2033.?Physiotherapy is very much beneficial in the holistic treatment of a range of injuries, diseases, and disorders. This helps not only in managing the symptoms of the issues, but also in improving endurance, strength, movements, and function in the treatment areas. Physiotherapy treatments are proving with using different types of equipment which are used in clinics and hospitals as well as at home during in-home physio sessions. Physiotherapy equipment’s are Electrical muscle stimulation (EMS) equipment which are used for electrotherapy after an accident, spinal cord injuries or stroke, on muscles that have been severely damaged. They are used when the muscles are so weak, where traditional exercises are not an option for the patient.
Interferential Therapy (IFT) is a widely recommended and utilised therapy by physiotherapists. Interferential Treatment makes use of the major physiological effects of low frequency electrical stimulation of nerves at roughly 250pps.
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COVID-19 Impact on the Global Physiotherapy Equipment Market
During the COVID-19 overall growth of different-different sectors has been heavily impacted. Industries such as hospitality, aeronautics and oil & petroleum are experiencing a decent fall in revenue, while pharmaceutical, biotechnology & healthcare industries are using this situation to serve hospitals and patients. Therefore, the number of surgeries has come down during the COVID-19, decreasing the post-surgery rehab physiotherapy, which has impacted the market growth all around the globe.
The COVID-19 has positive impacted on the physiotherapy profession as the demand for physiotherapy equipment across home care settings increased. Governments across different countries-imposed lockdowns to prevent the spread out of COVID-19 disease during Q1 & Q2 2020. These lockdowns negatively affects the vendors in physiotherapy equipment market by disturbing the supply chains and delaying deliveries. The demand of physiotherapy equipment remained normal in 2020 but it initiates a gradually picked up in 2021.
Global Physiotherapy Equipment Market Dynamics
Drivers: Increase in geriatric population along with?rehabilitative service
The increasing incidences of neurological disorders, cardiovascular disorders and the growing geriatric population have encouraged the demand for physiotherapy equipment across the world. According to World Population Ageing of U.S in 2019 the world’s older population continues to grow at an unexpected rate. There are 704 million people aged 64 years or over in all around the globe in 2019. These numbers of old people are projected to double by 2050. The population can adopt to orthopedic disorders, which is expected to drive the market in the future.
With increase in rehabilitative service the physiotherapy and rehabilitation therapies are to improve mobility and strength and find ways around any problems of the patient.?Physiotherapists may suggest using equipment to aid in walking after a fall and exercising to improve strength and balance. Rehabilitation can also help with stamina provider for chronic fatigue syndrome, asthma and after major surgery. Physiotherapy based rehabilitative services are gaining importance globally with increasing access to the more emergency, trauma care and advanced medical.
Restraints:?Lack of awareness about physiotherapy and reimbursement for physiotherapy
Changes in healthcare insurance policies and coverage considerably influence high costs for patients. This may lead to verities of services and impact the quality of service. Patients often have to pay out of pocket due to differences in coverage between and within the federal and private payers. Patients may be responsible for a co-insurance, co-pay, meeting, and facility fees a high deductible until co-insurance begins. Co-pays can cost high for certain physiotherapy treatments to the patient.
Health and medical fields need physical therapists, as they can, in some cases, treat patients without surgery. However, physiotherapy is not as well-known as it should be. City physiotherapists complain about the lack of awareness about this important topic and about patients popping painkillers for temporary relief and being referred to them after orthopedics refers them to them.
Opportunities:?Growing adoption of technology
Physiotherapy equipment industry are looking at the new technology, it is an exciting time to be in sports rehabilitation. Specifically, in physiotherapy, biomechanisms use 3D motion analysis to assess movement, in sports therapy and rehabilitation we rely on technologies such as cryo- and hydro-therapy to speed up the process of recovery, and we have already discussed two other new techniques above.
There will be blood flow restriction (BFR) therapy, trigger point dry needling, pelvic floor physical therapy, physical therapy for headaches and jaw pain, vestibular & balance therapy are modern PT Techniques that can benefit the Physiotherapy. Market players are expected to benefit from advances such as virtual reality, robotics, exoskeletons, implants, and interactive video games.
Scope of the Global Physiotherapy Equipment Market
The study categorizes the physiotherapy equipment market based on equipment type, demographics insights, application, and end user at the regional and global levels.
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By Equipment Type Outlook?(Sales, USD Million, 2019-2033)
By Demographics Insights Outlook?(Sales, USD Million, 2019-2033)
By Application Outlook?(Sales, USD Million, 2019-2033)
By End User Outlook?(Sales, USD Million, 2019-2033)
By Region Outlook?(Sales, USD Million, 2019-2033)
The?Ultrasound equipment?is projected to account for the largest market share, by type
Based on type, the ultrasound segment dominated the market of physiotherapy equipment with a decent share in 2022 and is expected to register a highest CAGR during the period. Ultrasound therapy is an electrotherapy which has been used in physiotherapy practices for many years. As a result of the non-thermal effect of high frequency sound waves, cellular fluids are vibrated and moved. Ultrasound therapy also speeds up the healing process by reducing edema and swelling. Segment growth is attributed to regulatory approvals and innovative product launches by manufacturers. In order to treat musculoskeletal disorders, BTL received FDA approval for its BTL-4000 Smart and Premium line.
Additionally, ultrasound devices can improve the resolution time of inflammation by increasing blood flow to the affected area. Moreover, it also assists in stimulating the production of collagen during tissue healing. Based on this, the ultrasound segment will impact positively during the forecasting period.
North America?accounts for the highest?market share during the forecast period
The U.S.A accounts the highest market share in North American physiotherapy market and is also expected to continue, during the forecasting period. The demographics region favor a sustainable growth in the number of patients requiring or seeking rehabilitation services. An increasing number of people, who engage in fitness sports and regimens, coupled with the rising number of patients with neurological, orthopedic, and cardiovascular, MSD conditions have driven the market for physiotherapy equipment in the country. Additionally, increasing inclination for active rising geriatric population and lifestyles in United States, increasing penetration of favorable reforms and healthcare are driving the market growth in United States.
A growing number of hospitals and home care providers are further boosting the market. As chronic illnesses such as Parkinsonism, stroke, paralysis, and spinal injuries become more prevalent, the demand for physiotherapy is expected to increase. Fitness regimens and sports are on the rise, along with patients suffering from cardiovascular conditions, neurological disorders, orthopedic conditions, and multiple sclerosis. Musculoskeletal conditions are also one of the biggest disabling and expensive conditions in the United States.
Competitive Landscape - Global Physiotherapy Equipment Market
The global physiotherapy equipment market is highly competitive with key industry players adopting various strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most companies in the market are focused on expanding operations across regions, augmenting their capabilities, and building strong partner relations.
Major players in the global physiotherapy equipment market are: