Physiotherapy Equipment Market to Reach US$24.66 Bn by 2023
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| Physiotherapy Equipment Market |
Market
Overview:
The global Physiotherapy Equipment Market is estimated to be valued at US$24.66 Billion In 2023 and is
expected to exhibit a CAGR of 6.9%
over the forecast period 2023-2030, as highlighted in a new report published by
Coherent Market Insights. Physiotherapy equipment refers to the devices and
tools used in physiotherapy treatment and rehabilitation. These equipment offer
various advantages such as improved patient outcomes, faster recovery, and
reduced pain. The increasing prevalence of orthopedic and neurological
disorders, along with the growing geriatric population, is driving the demand
for physiotherapy equipment worldwide.
Market Key Trends:
One of the key trends observed in the Physiotherapy
Equipment Market is the increasing adoption of electrotherapy devices.
Electrotherapy is a form of physiotherapy that uses electrical energy for
therapeutic purposes. It is commonly used to manage pain, improve muscle
strength, and promote tissue healing. The rising awareness about the benefits
of electrotherapy, such as non-invasiveness and drug-free pain relief, is
driving the demand for electrotherapy devices in the physiotherapy market.
Technological advancements and the development of portable and user-friendly
electrotherapy devices are further fueling market growth. The market players
such as Enraf-Nonius B.V., DJO Global, and EMS Physio Ltd. are focusing on
expanding their product portfolios in the electrotherapy segment to capitalize
on this trend.
Note: The report does not provide information about key players.
Segment Analysis:
The segment analysis for the physiotherapy equipment market includes the
categorization of the market based on equipment type, application, and end
user. Among the equipment types, the electrotherapy segment dominates the
market due to the increasing prevalence of chronic diseases and the growing
demand for non-invasive treatment options. The electrotherapy segment includes
products such as ultrasound, laser therapy, and electrical stimulation devices,
which are widely used for pain management and enhancing tissue healing. These
devices provide efficient treatment options with minimal side effects, leading
to their dominance in the market.
In terms of application, the musculoskeletal segment holds a significant market
share. This can be attributed to the rising incidence of musculoskeletal
disorders such as arthritis, osteoporosis, and back pain. Physiotherapy
equipment such as heat and cold therapy devices, traction devices, and exercise
equipment are commonly used for the management of these conditions. The
increasing aging population and the growing awareness about the benefits of
physiotherapy for musculoskeletal disorders further contribute to the dominance
of this segment.
When considering end users, the hospitals and clinics segment is the largest
contributor to the physiotherapy equipment market. Hospitals and clinics have
well-established infrastructure and a wide range of specialized physiotherapy
services. Additionally, the increasing number of outpatient departments in
hospitals and the availability of advanced physiotherapy equipment in these
settings drive the demand for physiotherapy equipment in this segment.
Key Takeaways:
The global physiotherapy equipment market is expected to witness high growth,
exhibiting a CAGR of 6.9% over the forecast period of 2023-2030. This growth
can be attributed to several factors, including the increasing prevalence of
chronic diseases, the rising geriatric population, and the growing demand for
non-invasive treatment options. The market is also driven by advancements in
technology, which have led to the development of innovative physiotherapy
equipment with improved efficiency and ease of use.
In terms of regional analysis, North America is expected to be the
fastest-growing and dominating region in the physiotherapy equipment market.
This can be attributed to several factors, including the presence of a
well-established healthcare infrastructure, high healthcare expenditure, and
the increasing adoption of advanced physiotherapy techniques in the region.
Europe and Asia Pacific are also expected to contribute significantly to the market
growth, driven by supportive government initiatives, increasing healthcare
expenditure, and the rising prevalence of chronic diseases in these regions.
Key players operating in the physiotherapy equipment market include
Enraf-Nonius B.V., DJO Global, EMS Physio Ltd., Dynatronics Corporation, A.
Algeo Limited, BTL Industries, Inc., HMS Medical Systems, Whitehall
Manufacturing, Patterson Companies, Inc., and Isokinetics, Inc. These players
are focused on product launches, partnerships, and acquisitions to strengthen
their market presence and expand their product portfolios. The market is highly
competitive, with players investing in research and development activities to
introduce technologically advanced products and gain a competitive edge.
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