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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.
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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.
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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.
Equipment
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.
Accessories
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.
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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.
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. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
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.
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.
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.
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.
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.
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.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market analysis and report also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
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.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Physiotherapy Equipment 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 growth analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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