Global Physiotherapy Equipment Market Outlook
Market Overview
Physiotherapy is a remedial approach that focuses on physical methods to prevent injuries such as massage, heat treatment and different form of exercises in spite of surgeries or other harmful operations. As physiotherapy involves physical type of treatment there are very low risk to the patients. Physiotherapy is used to cure mainly all type of malady namely join disorder, neck and back pain, injuries, arthritis etc. The advancement in new technology is taking place rapidly now days and with this advancement several new equipment for physiotherapy have also been instigated into the market. Emerging number of cardiovascular disease such as high blood pressure, cardiac arrest, arrhythmia etc, rising number of elderly population are some of the factors that are influencing the market of physiotherapy equipment. Physiotherapy involve wide range of equipment that work as ailment for body discomfort and also to avoid surgical circumstances.
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The market of physiotherapy covers USD 15.6 billion in 2016 in which global physiotherapy equipment market is expected to grow at a CAGR of 7% for the forecast period i.e. 2016-2024. During the recent years it is observed that almost 70% of people are treated by physiotherapy and thus saves the cost which would have occurred if they have gone for surgeries. Problem of orthopedic disorders are the major driver to market of physiotherapy equipment as there are increasing number of such type of disorders due to increase in elderly population. However, there is high cost of physiotherapy treatment that curtails the market from growing.
Market Segmentation
• On the basis of products
o Hydrotherapy
o Cryotherapy
o Continuous Passive Motion CPM
o Electric Stimulation
o Heat Therapy
o Therapeutic Exercises
o Ultrasound
o Others Laser Therapy, Wax Therapy, and Traction
- On the basis of application
o Cardiovascular and Pulmonary
o Musculoskeletal
o Neurology
o Pediatric
o Others Sports, Women Health, and Palliative Care - On the basis of end users
o Hospitals
o Clinics
o Diagnostic Labs
o Others Home health centers, schools and rehabilitation centre - On the basis of region
o North America U.S., Canada {Market Share % , Market Size USD Billion }
o Europe UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe {Market Share % , Market Size USD Billion }
o Middle East and Africa GCC Countries, North Africa, South Africa and Rest of Middle East & Africa {Market Share % , Market Size USD Billion }
o Latin America Brazil, Mexico and Rest of Latin America {Market Share % , Market Size USD Billion }
o Asia Pacific China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific {Market Share % , Market Size USD Billion }
o Rest of the World{Market Share % , Market Size USD Billion }
Market Size and Forecast 2016-2024
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Global market of physiotherapy equipment anticipated to reach USD 25 billion by 2024 from USD 15.6 billion in 2016, by registering a promising CAGR of 7.0% over the forecast period.
Based on the application, due to increasing number of popularity of heart stroke and autism, neurology is said to dominate the market over the coming next five to six years. Furthermore, neurology segment registered a growth rate of 7.0% in 2016.
On the basis of region, North America region is dominating the global physiotherapy equipment market owing to rising adoption of advanced healthcare equipment in medical facilities. Growing awareness among the population towards arthritis, osteoporosis and others are shifting the population towards advanced diagnostics and treatment services. On the basis of rising number of diagnostic centers and treatment facilities, physiotherapy equipment market players are finding new opportunities to explore their business in these countries. North America physiotherapy equipment market was valued USD 6.0 billion in 2016.
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Key Trends and Growth Drivers
Factors such as adoption of physiotherapy equipment in healthcare facilities, government initiatives to improve healthcare facilities and others are propelling the growth of physiotherapy equipment market. Due to growing number of chronic diseases and neurological disorders across the globe, medical facilities are inclining towards the adoption of physiotherapy equipment. Growing awareness among the population towards the benefits of physiotherapy is propelling the demand for physiotherapy equipment in hospitals and nursing homes. Equipment innovation such as rehabilitation robots and others is driving the growth of global physiotherapy equipment market.
Market Restraints
There are some restraints as well which curtail the market growth. They are:
• The maintenance and equipments of physiotherapies are very costly.
• Lack of skilled and trained physiotherapists.
• Availability of alternative therapies.
Key Findings
• Every year more than 45% of Americans over 18 years of age has the problem of muscular skeleton will at least last for 3 months.
• 10.5 million people are found who consumed the service of physiotherapy in the year 2015 across the globe.
• Only 35% patients are fully devoted to their treatment and plan the treatment with care.
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