PUBLISHER: Allied Market Research | PRODUCT CODE: 1365710
PUBLISHER: Allied Market Research | PRODUCT CODE: 1365710
According to a new report published by Allied Market Research, titled, "Physiotherapy Equipment Market," The physiotherapy equipment market was valued at $1.6 billion in 2022, and is estimated to reach $2.8 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032.
The physiotherapy equipment market growth is driven by high presence of market players who manufacture physiotherapy equipment, rise in prevalence of arthritis, and increase in awareness among the people regarding effectiveness of physiotherapy. Physiotherapists use several kinds of equipment and machines for the treatment & betterment of different kinds of conditions spanning mild spasms to chronic pain to old age arthritis, cancerous conditions, and others. Physiotherapy equipment is used to achieve the objective via enhancement of blood flow, quickening of the healing process of tissues, tendons, muscles, and others. , and/or improvement of mobility in constricted joints. Thus, rise in demand for physiotherapy equipment is expected to boost the growth of market.
For instance, according to the World Health Organization, (WHO), in June 2023, it was reported that 18 million people worldwide were living with rheumatoid arthritis. About 70% of people living with rheumatoid arthritis are women, and 55% are older than 55 years. 13 million people with rheumatoid arthritis experience severity levels (moderate or severe) that could benefit from rehabilitation.
In addition, rise in geriatric population is anticipated to drive the growth physiotherapy equipment market. As geriatric population is more susceptible to orthopedic diseases and joint injuries, it is expected to increase the need of physiotherapy for treatment purposes. Thus, rise in number of geriatric populations is anticipated to increase in demand of physiotherapy for treatment purpose. Thus, this factor is expected to fuel the demand physiotherapy equipment and boost the growth of market. For instance, according to the World Health Organization (WHO), it was estimated that, by 2030, 1 in 6 people in the world will be aged 60 years or over. At this time, the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. By 2050, the world's population of people aged 60 years and older will double (2.1 billion). The number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million.
The physiotherapy equipment market is segmented into type, application, end user, and region. By type, the market is segmented into equipment and accessories. By application, the market is divided into musculoskeletal, neurology and others. By end user, the market is classified into hospital, physiotherapy and rehabilitation center and others. Others include home care setting and specialty clinics.
Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Major key players that operate in the global physiotherapy equipment market are EMS Physio Ltd, Enraf-Nonius B.V., Zimmer MedizinSysteme GmbH, Dynatronics Corporation, Performance Health, BTL Corporate, Storz Medical AG., Richmar, Enovis Corporation, Zynex Medical Inc. Key players operating in the market have adopted product approval, product launch, acquisition and agreement as their key strategies to expand their physiotherapy equipment market share.
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