The global Physiotherapy Equipment Market had a size of USD 16.54 billion in 2020 and is projected to experience a compound annual growth rate (CAGR) of 5.2% during the forecast period. The market is being driven by an increasing demand for physiotherapy equipment, which can be attributed to the growing utilization of Radio Frequency Identification (RFID) software solutions that enable the use of RFID tags and readers in various applications. RFID tags and readers installed in hospitals are employed for frequent monitoring of temperature, blood pressure, medication, and clinical trials.
Physiotherapy, often referred to as physical therapy, is a healthcare discipline encompassing a comprehensive range of activities. These include the assessment, diagnosis, prognosis, examination, intervention, rehabilitation, prevention, and the promotion of health, all aimed at preserving and restoring well-being through physical methods.
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Physiotherapy equipment, also known as "physiotherapy equipment," is used by physiotherapists to treat various types of disorders and disabilities. These equipment assist in performing everyday tasks effectively and effortlessly. They aid in the restoration and enhancement of functioning, correction of posture, muscle balance, reduction of muscle stiffness, and pain relief.
The market's growth is primarily driven by the increasing prevalence of chronic disorders and the growing geriatric population worldwide. Additionally, the occurrence of sports injuries, cerebrovascular diseases, and joint problems contributes to market growth. The rise in urbanization, sedentary lifestyles, and busy schedules of working individuals has led to a preference for non-invasive physiotherapy equipment for alleviating back and neck pain, arthritis, and post-surgery conditions.
Market Dynamics: Driver: Increasing incidences of musculoskeletal and neurological disorders and a growing geriatric population are key factors driving revenue growth. The physiotherapy equipment sector is expected to experience remarkable growth in the future. The increasing cases of trauma and muscle, tendon, nerve, back, and neck pain worldwide due to people's unhealthy lifestyles are expected to drive market growth.
Restraint: High maintenance costs of equipment and the presence of alternative methods are key factors restraining growth. The development of the physiotherapy equipment market faces challenges such as high maintenance and purchasing costs. Poor healthcare facilities, unfavorable reimbursement policies, and inadequate standardization impede market growth.
Product Type Outlook: The global physiotherapy equipment market is segmented based on equipment type, including electrotherapy equipment, ultrasound equipment, exercise therapy equipment, cryotherapy equipment, combination therapy, Continuous Passive Motion (CPM) therapy equipment, shockwave therapy equipment, laser therapy equipment, traction therapy equipment, and magnetic therapy equipment. The wide range of applications for physiotherapy equipment contributes to market growth. The increasing number of individuals with orthopedic disorders has led to a rise in the demand for physiotherapy equipment. These equipment are used for the treatment of musculoskeletal and skeletal disorders, as well as for maintaining proper spinal cord alignment and addressing other disabilities.
End Use Outlook: The global physiotherapy equipment market is segmented based on end use, including hospitals, physiotherapy centers, clinics, and rehabilitation centers. The hospital segment accounted for the largest share of revenue in 2020. The increasing number of patients choosing multi-specialty hospitals for physiotherapy contributes to market growth. The adoption of advanced technologies worldwide and the hospitals' ability to bear high maintenance costs are additional factors driving market growth.
The physiotherapy centers segment is expected to experience significant growth during the forecast period. The presence of professional physiotherapists and modern physiotherapy equipment contributes to the growth of this segment.
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Application Outlook: The global physiotherapy equipment market is segmented based on application, including musculoskeletal applications, neurological applications, cardiovascular and pulmonary applications, pediatric applications, and gynecological applications. The neurological applications segment is expected to grow at a significantly high rate during the forecast period. Physiotherapy equipment are used in the treatment of patients with spinal injuries, traumatic brain injuries, Parkinson's disease, and other neurological disorders.
The musculoskeletal applications segment accounted for the largest share of revenue in 2020. The growth of this segment is attributed to the increasing prevalence of musculoskeletal disorders due to the rising number of elderly individuals and other lifestyle-related disorders. The increasing number of road accidents and spinal injuries are also factors contributing to market growth.
Regional Outlook: In 2020, the physiotherapy equipment market in North America accounted for the largest share of revenue, attributed to key drivers such as the increasing number of hospitals and the rising incidence of osteoporosis. Favorable reimbursement policies and well-developed healthcare infrastructure are also responsible for regional growth.
The Asia Pacific region is expected to witness the fastest CAGR over the forecast period, primarily due to the presence of a large number of key market players and the increasing adoption of physiotherapy. APAC has a large geriatric population and a growing demand for an effective healthcare system to address chronic ailments, which contributes to the market's growth.
Competitive Landscape: The competitive landscape of the global physiotherapy equipment market is moderately fragmented, with several key companies operating at global and regional levels. These companies are engaged in product development and strategic alliances to expand their product portfolios and establish a strong presence in the global market. Major companies in the market include 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.
Key Developments in the Market:
- In December 2020, Sunbeam, a leader in heat therapy products, launched the GoHeat Cordless Heating Pad to help relieve pain and treat sore muscles at home.
- In February 2019, Colfax Corporation (US) acquired DJO Global Inc. (US). Through this acquisition, Colfax Corporation aims to provide physical therapy and orthopedic products under the DJO brand.
Segments Covered in the Report: This report provides historical data and forecasts revenue growth at the global, regional, and country levels. It also analyzes market trends in each of the sub-segments from 2018 to 2028. The physiotherapy equipment market is segmented based on equipment type, end use, application, and region.
Report Scope:
- Market size value in 2020: USD 16.54 billion
- CAGR (2020 - 2028): 5.2%
- Revenue forecast in 2028: USD 24.91 billion
- Base year for estimation: 2019
- Historical data: 2019-2020
- Forecast period: 2021-2028
- Quantitative units: Revenue in USD million
- CAGR from 2020 to 2028
- Report coverage: Revenue forecast, company ranking, competitive landscape, growth factors, and trends
- Segments covered: Equipment Type Outlook, End Use Outlook, Application Outlook, Regional Outlook
- Equipment Type Outlook: Electrotherapy Equipment, Ultrasound Equipment, Exercise Therapy Equipment, Cryotherapy Equipment, Combination Therapy, Continuous Passive Motion (CPM) Therapy Equipment, Shockwave Therapy Equipment, Laser Therapy Equipment, Traction Therapy Equipment, Magnetic Therapy Equipment
- End Use Outlook: Hospitals, Physiotherapy Centers, Clinics, Rehabilitation Centers
- Application Outlook: Musculoskeletal Applications, Neurological Applications, Cardiovascular Pulmonary Applications, Pediatric Applications, Gynecological Applications
- Regional scope: North America, Europe, Asia Pacific, Latin America, Middle East Africa
- Country scope: U.S., Canada, U.K., Germany, France, BENELUX, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, Turkey
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