PUNE, India, Nov. 25, 2020 (GLOBE NEWSWIRE) -- The Global Physiotherapy Equipment Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, production and consumption, supply chain analysis, competitive landscape, and market composition analysis.
Expanding and ageing population, prevalence of chronic health disorders, and occupational health disorders is anticipated to ramp-up demand for physiotherapy equipment
The global physiotherapy equipment market size was estimated to be US$ 14.9 billion in 2019 and expected to reach US$ 30.8 billion by 2030 at a CAGR of 6.3% during 2020 and 2030. The number of people suffering from chronic and occupational health disorders such as cardiovascular, neurological and musculoskeletal disorders is increasing significantly across the globe with North America and Europe being the most affected geographies. Based on the statistics published by United States Bone and Joint Initiative (USBJI), in the United States alone, approximately 127 million people are affected by musculoskeletal disorders, with an estimated direct and indirect cost of US$ 213 Billion annually. The magnitude of resources exhausted due to musculoskeletal disorders globally is in multiple of that incurred in the United States.
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Physiotherapy has been employed as an effective method to treat such disorders and is witnessing increased demand for efficient physiotherapy equipment with advancement in medical technology. Moreover, prevalence of chronic diseases such as cardiovascular & pulmonary disorders is another factor fueling the demand for physiotherapy equipment. Moreover, rising awareness across Asia Pacific is anticipated to bolster the growth of the global physiotherapy equipment market during the forecast period. The global physiotherapy market is fragmented owing to the presence of large number of small and medium regional manufacturers, as well as global players operating across all the major countries. All the above mentioned factors are dynamically shaping the global physiotherapy equipment market. The global physiotherapy equipment market is anticipated to grow at a CAGR of 6.2% in terms of revenue with volume consumption witnessing a growth of 6.3% during the forecast period 2020 – 2030.
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Rising demand for multifunctional equipment to drive market for combination therapy equipment across the world
The physiotherapy equipment market is segmented based on the component, applications, end user, sales channel, and geography. Based on component, the global physiotherapy equipment market is segmented into equipment, and accessories. The equipment segment is further sub-segmented into electrotherapy equipment, ultrasound equipment, combination therapy equipment, laser therapy equipment, shockwave therapy equipment, cryotherapy equipment, diathermy equipment, continuous passive motion (CPM) equipment, portable kits, and others (hydrotherapy, traction equipment, hydrocollator, thermalator, etc.). Similarly, the accessories are sub-segmented into applicators, electrodes, and others. The electrotherapy equipment contributed 17.2% share to the market owing to high penetration, wide range of applications, and availability at low price across all the geographies. The combination therapy equipment is anticipated to be the most lucrative equipment type growing at a CAGR of 8.2% in terms of revenue and at a CAGR of 8.8% in terms of volume during the forecast period. Combination therapy equipment offers multiple functionalities in a single unit, for instance, majority of the manufacturers offer equipment with a combination of electrotherapy and ultrasound. Additionally, with technological advancements, a combination of laser therapy and cryotherapy is offered by manufacturers to cater rising demand from sport medicine applications. Consequently, the combination therapy equipment is witnessing high demand from wide spectrum of end users around the world.
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Increasing number of physiotherapy clinics and rehabilitation centers poised to offer high growth opportunities for physiotherapy equipment
Based on end user, the market is segmented into hospitals, physiotherapy clinics & rehabilitation centers, home care & personal care, and corporate. The hospitals are further sub-segmented into public and private hospitals. The physiotherapy clinics & rehabilitation center contributed the largest revenue share of 44.9% to the global market in 2019 and is anticipated to witness prominent growth during the forecast period. Moderate capital investment and increasing awareness regarding physiotherapy has fueled the demand from small clinics. Moreover, demand for physiotherapy equipment from hospitals is anticipated to grow owing to increased post-surgical physiotherapy and rising number of outpatients. Many of the corporate organizations are focusing on development of in-house physiotherapy clinics to tackle the rising number of employees with occupational health disorders, which is anticipated to gain traction during the forecast period.
Based on geography, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America contributed the largest share to the market owing to high awareness regarding the medical benefits of physiotherapy equipment and rising number of patients with occupational health disorders and chronic non communicable disorders. The demand in Europe is anticipated to rise owing to rising geriatric population and rising prevalence of musculoskeletal disorders across major countries. Asia Pacific is anticipated to be the fastest growing market for physiotherapy equipment growing at a CAGR of 8.3%, in terms of revenue, during the forecast period owing increasing awareness among population, rising healthcare spending and expansion of electro medical device manufacturing industry across China, Japan and India.
Major players operating in the global physiotherapy equipment market include BTL, DJO Global, Inc., Zimmer MedizinSysteme GmbH, Mectronic Medicale S.r.l., EMS Physio Ltd., Enraf-Nonius B.V., GymnaUniphy, Ito Co., Ltd., and Johari Digital among others.
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