Physiotherapy Equipment Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Germany, UK, China - Size and Forecast 2024-2028

Physiotherapy Equipment Market Size 2024-2028 

The global physiotherapy equipment market size is estimated to grow by USD 8.35 billion at a CAGR of 6.7% between 2023 and 2028. 

In the market, companies are actively expanding their product portfolios and enhancing business operations to maintain competitiveness. Continuous innovation is a key strategy, with recent launches exemplifying this trend. In April 2023, HMS Medical Systems introduced the PST 5000s pneumatic shockwave therapy machine, designed for non-invasive pain management. Additionally, in January 2022, Zynex Inc. unveiled post-operative and osteoarthritis knee braces aimed at limiting joint wear and tear, reducing pain, and minimizing the need for surgery. The surge in new product introductions is anticipated to be a significant driver for the growth of the market during the forecast period.

Study Period	2024-2028
Base Year For Estimation	2023
CAGR	6.7%
Forecast period	2024-2028
Fastest Growing Region	North America at 44%
Largest Segment	Application

Buy Now Full Report and Discover more

What will be the size of the market during the forecast period?

Market Segment

By Application Analysis

The market share growth by the musculoskeletal segment will be significant during the forecast period. When someone is affected by an injury, illness, or developmental or other impairment, physiotherapy could help restore movement and function as close to average as possible. When the musculoskeletal physiotherapist develops a treatment plan, they will take all this into consideration. Physiotherapy can treat joint injuries by providing examination, treatment, and guidance. Physiotherapy can help improve the healing process and reduce swelling.

Get a glance at the market contribution of various segments Request Free Sample

The musculoskeletal segment was the largest and was valued at USD 8.69 billion in 2018. To optimize healing and expedite recovery, musculoskeletal physiotherapy sessions involve assessments and treatments, where physiotherapists utilize techniques like exercise therapy, manual therapy, and self-management strategies, often employing specific equipment such as leg press, rotary torso, knee extension, and cervical rotation, with a focus on addressing common musculoskeletal problems like lower back pain, which is projected to contribute to the growth of the market during the forecast period.

By Product Analysis

Physiotherapy treatments involve heat therapy, cryotherapy, hydrotherapy, and others, as well as multiple therapeutic exercises, which are either used independently or, in a few cases, used in combination with physiotherapy equipment. Various physiotherapy treatments, using equipment such as continuous passive motion (CPM) units, ultrasound machines, and electric muscle stimulators, are offered to decrease pain and enhance mobility. The other equipment used in physiotherapy includes interferential therapy units, ultrasonic therapy units, physical therapy machines, digital therapy machines, and short-wave diathermy machines. These types of equipment are used by physiotherapists for various treatments as per the needs and conditions of patients. Thus, the demand for medical equipment has increased, which, in turn, will fuel the growth of the equipment segment in the market during the forecast period.

The accessories include interferential therapy units, short-wave diathermy machines, exercise balls, magnetic and nonmagnetic belts, and tables used for therapeutic massages. These products are predominantly used by physiotherapists practicing independently in a clinic. The ease of availability of such products online and the innovation and evolution of portable equipment that can be used in the sports and fitness industries drive the growth of this market segment. Users prefer portable physiotherapy products as they are small and lightweight, and their performance is such as that of other machines. Other major users of these products are the elderly population and patients who may undergo post-surgical or post-trauma treatment. Thus, an increase in the aging population will positively drive the growth of the accessories segment, which in turn will fuel the growth of the market during the forecast period.

Market Dynamic and Customer Landscape

The Physiotherapy Equipment Wheel market is experiencing significant growth, propelled by an increasing number of healthcare providers seeking to address the needs of the geriatric population, athletes suffering from sports injuries, and individuals afflicted with degenerative joint disorders caused by factors like improper eating habits. This growth is further accentuated by emerging markets for physiotherapy equipment, signaling a global demand for advanced rehabilitation solutions.

However, the industry faces challenges such as prolonged recovery times associated with physiotherapy interventions. To address these challenges, stakeholders must conduct thorough market trends and analysis alongside comprehensive industry trend analysis and pricing analysis. Additionally, leveraging insights from patent analysis and utilizing information from conference and webinar materials is crucial. By understanding buying behavior and collaborating closely with key stakeholders, the physiotherapy equipment market can innovate tools and instruments to enhance flexibility and physical function, ensuring optimal patient outcomes.

Key Market Drivers

The growing number of healthcare providers is notably driving market growth. Healthcare providers such as diagnostics centers, clinics, hospitals, and patient care centers are increasing in number with improved healthcare services. There were approximately 6,090 hospitals in the US in 2022. The rising cases of chronic diseases, medical emergencies, epidemics, and short-term and long-term disabilities that are also increasing with population growth are creating an increase in the number of healthcare providers. Owing to the increase in the number of patient footfalls, the demand for physiotherapy equipment, such as CPM units, electric muscle stimulators, and ultrasound machines, is increasing along with the demand for therapies, such as hydrotherapy, cryotherapy, and heat therapy.

However, to meet the increased demand, healthcare providers are expanding their capabilities in terms of services and equipment, leading to higher opportunities for the manufacturers and suppliers of these products. The suppliers and manufacturers are investing funds to enter new markets or to expand the existing ones to cater to these end-users. The increased revenue from these markets is the reason for the growth and development of the market during the forecast period.

Significant Market Trends

Emerging markets for physiotherapy equipment are an emerging trend shaping market growth. The availability of this equipment enables the physiotherapist to provide the required services, which is, however, limited to only developed markets owing to the adequate supply of products. MEA and Western European countries such as France, Germany, and the UK are highly developed markets owing to the availability of sophisticated healthcare facilities, which is further supported by the higher disposable income of individuals. The supply is very small in underdeveloped and rural markets owing to the lack of efficient distribution networks and the marginal demand for these products.

Moreover, the increased consumption of these products encourages the growth of emerging markets with higher product penetration. This creates opportunities for the suppliers and manufacturers to set up manufacturing units in these countries that offer the easy availability of raw materials with low labor costs and logistic expenditures. There is a scope for the market to expand during the forecast period. 

Major Market Challenges

Prolonged recovery time in physiotherapy is a significant challenge hindering market growth. Physiotherapy does not include surgery or the use of any drugs for the treatment of diseases and disorders. It aids in curing healthcare issues through various exercises and therapies. However, unlike treatment through medical surgeries and drugs, treatment through physiotherapy needs comparatively more time. For example, a patient suffering from back pain or spine problems such as lumbar back pain, cervical back pain, or complete backbone pain is subjected to physiotherapy treatment for 4-6 weeks as an initial treatment. Based on the criticality of disorders and the required treatment, the patient is advised for surgery.

Further, physiotherapy cannot be used in the case of life-threatening emergencies, such as accidents, burn cases, and multiple bone fractures. It cannot completely replace the use of medicinal treatment procedures and is only limited to health problems associated with minimum risks. This limitation reduces the patient pool (as compared with surgical or medicinal therapy) and the subsequent demand for physiotherapy equipment. This reduced consumption acts as a negative factor for the market growth and trends during the forecast period.

Buy Now Full Report

Market Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Accord Medical Products Pvt. Ltd. - The company offers physiotherapy equipment such as Acco diagnostic muscle stimulator, whirlpool bath for arm, foot and lower leg, shortwave medical diathermy, and muscle stimulator.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• Accord Medical Products Pvt. Ltd.
• Bio Med International Pvt. Ltd
• BTL Group
• Chirag electronics pvt ltd
• Compass Health Brands
• Dynatronics Corp.
• EMS Physio Ltd.
• Enovis Corp.
• Enraf Nonius BV
• GymnaUniphy NV
• HMS Medical Systems
• Ito Co. Ltd.
• KARL STORZ SE and Co. KG
• Life Care Systems
• Mectronic Medicale Srl
• Mettler Electronics Corp.
• Performance Health Holding Inc.
• TecnoBody S.p.A
• Zimmer MedizinSysteme GmbH
• Zynex Inc.

Discover the insights from our 15 Prominent Player Profile ! Download the Sample

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Which are the Key Regions for the Market ?

For more insights on the market share of various regions- Request Free Sample !

North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period. The market in North America will witness low growth owing to fewer opportunities for market expansion. For instance, as the demand for healthcare grows in Canada, delivering high-quality, effective, and sustainable services is a top priority and one of the most pressing challenges faced by governments and businesses. While physiotherapist employment has also increased over the past few years, there has also been a shift in physiotherapy service delivery from hospitals to community-based providers. As such, the area of practice for physiotherapists in most provinces/territories is divided between general practice and musculoskeletal practice. 

In addition, the high demand for these products is owing to the presence of well-developed healthcare facilities and the higher disposable income of people, which renders better healthcare affordable. The increased availability of healthcare facilities and the affordability of treatment facilities have increased the number of patients seeking better healthcare facilities. The increased number of medical cases drives the growth of supportive healthcare services, such as an increased number of days of hospital stay, uses of clinical and diagnostics services, and home-based patient care services, including physiotherapy. Such factors are expected to drive the regional market growth during the forecast period.

Buy Full Report Now

 

Market Analyst Overview

The market is experiencing significant growth driven by various factors, such as the increasing prevalence of health issues like road accidents, necessitating the need for rehabilitation centers equipped with advanced physiotherapy devices. Lifestyle factors, including stressful lifestyles, poor eating habits, and a rising aging population, contribute to a surge in musculoskeletal problems, prompting the demand for physiotherapy interventions targeting ligaments, nerves, muscles, and specific areas like the neck. The market is further influenced by the escalating incidence of conditions like stroke, Parkinson's disease, and other neurological diseases, emphasizing the role of physiotherapy in managing these health challenges. Moreover, with a growing awareness of the impact of cardiovascular diseases, aging population-related issues, and neurodegenerative illnesses like dementia, the demand for physiotherapy equipment is propelled.

Additionally, the market is responding to the escalating cases of respiratory conditions such as asthma, diabetes, and chronic obstructive pulmonary disease (COPD), underlining the versatility of physiotherapy equipment in addressing diverse healthcare needs. The collaboration between physicians and physiotherapists becomes crucial in optimizing treatment outcomes and fostering the continued expansion of the market in the U.S. 

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Application Outlook
  • Musculoskeletal
  • Cardiovascular and pulmonary
  • Neurological
  • Others
• Product Outlook
  • Equipment
  • Accessories
• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil
    • Argentina
    • Australia 

Market Scope
Report Coverage	Details
Page number	164
Base year	2023
Historic period	2018 - 2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 6.7%
Market growth 2024-2028	USD 8.35 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	6.23
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 44%
Key countries	US, Canada, Germany, UK, and China
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Accord Medical Products Pvt. Ltd., Bio Med International Pvt. Ltd, BTL Group, Chirag electronics pvt ltd, Compass Health Brands, Dynatronics Corp., EMS Physio Ltd., Enovis Corp., Enraf Nonius BV, GymnaUniphy NV, HMS Medical Systems, Ito Co. Ltd., KARL STORZ SE and Co. KG, Life Care Systems, Mectronic Medicale Srl, Mettler Electronics Corp., Performance Health Holding Inc., TecnoBody S.p.A, Zimmer MedizinSysteme GmbH, and Zynex Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Download PDF Sample

What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  size and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market industry across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements. 

Get in touch