PUBLISHER: The Business Research Company | PRODUCT CODE: 1484845
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484845
Physiotherapy and rehabilitation products and services encompass a diverse array of equipment, tools, and treatments aimed at facilitating the recovery and enhancement of physical function and mobility for individuals with physical impairments or injuries. These offerings include exercise equipment, assistive devices, therapeutic modalities, and personalized treatment plans tailored to meet the specific needs of each patient.
The primary categories of physiotherapy and rehabilitation products and services comprise physiotherapy equipment and rehabilitation services. Physiotherapy products encompass a wide range of equipment, devices, aids, and accessories utilized by both physiotherapists and patients throughout the rehabilitation process. These products cater to individuals of all genders and various income brackets, offering multiple payment options such as out-of-pocket payments and insurance coverage. They serve a diverse range of end-users, predominantly including hospitals, physiotherapy centers or clinics, rehabilitation facilities, home care settings, physician offices, nursing and residential homes, among others.
The physiotherapy and rehabilitation products and services market research report is one of a series of new reports from The Business Research Company that provides physiotherapy and rehabilitation products and services market statistics, including physiotherapy and rehabilitation products and services industry global market size, regional shares, competitors with a physiotherapy and rehabilitation products and services market share, detailed physiotherapy and rehabilitation products and services market segments, market trends and opportunities, and any further data you may need to thrive in the physiotherapy and rehabilitation products and services industry. This physiotherapy and rehabilitation products and services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The physiotherapy and rehabilitation products and services market size has grown strongly in recent years. It will grow from $203.59 billion in 2023 to $217.18 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The historic growth in physiotherapy can be attributed to aging populations, increased awareness and acceptance of physiotherapy, the shift towards outpatient care and home-based rehabilitation, and supportive regulatory and reimbursement policies.
The physiotherapy and rehabilitation products and services market size is expected to see strong growth in the next few years. It will grow to $285.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The forecasted growth in physiotherapy is driven by factors such as the increasing prevalence of chronic conditions, a trend towards outpatient care, growing awareness, and improved accessibility to services, alongside technological advancements. Key trends expected in the forecast period include the continued integration of technologies such as virtual reality (VR), augmented reality (AR), and artificial intelligence (AI), an emphasis on preventive care and wellness, personalized treatment approaches, and innovations in assistive devices and robotics.
The upward trend in the geriatric population is poised to drive growth in the physiotherapy and rehabilitation products and services market. With the geriatric population comprising individuals aged 65 and older, specific health concerns and needs associated with aging emerge, necessitating increased demand for physiotherapy and rehabilitation products and services. Older adults often require specialized aids and equipment to address age-related mobility issues and overall well-being, thereby creating growth opportunities for companies catering to this demographic. For example, a report by the Population Reference Bureau in January 2024 projected a substantial increase in the number of Americans aged 65 and older, reaching 82 million by 2050, marking a 47% increase from 2022. Additionally, the share of the population aged 65 and above is expected to rise from 17% to 23%. This demographic shift underscores the significant impact of the rising geriatric population on driving market growth in physiotherapy and rehabilitation products and services.
Leading companies in the physiotherapy and rehabilitation products and services market are concentrating on the development of new technologies, such as advanced virtual reality-based platforms, to capitalize on market opportunities. Virtual reality-based platforms offer immersive and interactive experiences for patients undergoing therapy, enhancing engagement and treatment outcomes. For instance, Penumbra Inc. introduced the REAL y-Series in November 2022, a full-body, non-tethered immersive healthcare offering for rehabilitation. This technology utilizes upper and lower body sensors to track whole-body movement and progress in real-time, providing clinicians with a hands-free, sensor-based virtual reality (VR) platform to customize exercises and activities tailored to patients' needs. By addressing rehabilitation challenges such as patient motivation and engagement, this innovative technology aims to optimize therapy benefits and improve patient outcomes.
In March 2021, Bioventus Inc. bolstered its portfolio of medical devices and solutions through the acquisition of Bioness Inc. for $110 million. This strategic move aims to expand Bioventus' presence in neuromodulation and rehabilitation, leveraging Bioness Inc.'s expertise in developing medical devices for these areas. Bioness Inc., a US-based company specializing in neuromodulation and rehabilitation medical devices, brings valuable assets and capabilities to Bioventus, enhancing its position in the market and strengthening its offering in physiotherapy and rehabilitation products and services.
Major companies operating in the physiotherapy and rehabilitation products and services market are Medline Industries Inc., Stryker Corporation, Select Medical Corporation, Icahn School of Medicine at Mount Sinai, ITO Co. Ltd., Enovis Corporation, Ottobock, DJO Global Inc., Upstream Rehabilitation Inc., Ossur (OSSR.CO), Patterson Medical, ATI Physical Therapy Inc., U.S. Physical Therapy Inc., BSN Medical GmbH, Athletico Physical Therapy, Zynex Medical Inc., Performance Health, Zimmer MedizinSysteme GmbH, Dynatronics Corporation, Biodex Medical Systems Inc., MindMaze Healthcare, Enraf-Nonius B.V., EMS Physio Ltd., Tartan Group, Lifespan Physical Therapy Services
North America was the largest region in the physiotherapy and rehabilitation products and services market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the physiotherapy and rehabilitation products and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the physiotherapy and rehabilitation products and services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The physiotherapy and rehabilitation products and services market consists of revenues earned by entities providing services such as hydrotherapy, cryotherapy, speech therapy, respiratory therapy, and occupational therapy. The market value includes the value of related goods sold by the service provider or included within the service offering. The physiotherapy and rehabilitation products and services market also includes sales of resistance bands, weights, exercise balls, balance boards, stationary bicycles, plints, and orthopedic shoe inserts. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Physiotherapy And Rehabilitation Products And Services Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on physiotherapy and rehabilitation products and services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for physiotherapy and rehabilitation products and services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The physiotherapy and rehabilitation products and services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.