Burlingame, May 19, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, global physiotherapy equipment market is estimated to be valued at US$ 24.66 billion in 2023, exhibiting a CAGR of 6.9% during the forecast period (2023-2030).
Analysts’ Views on Global Physiotherapy Equipment Market:
Increasing prevalence of musculoskeletal injuries and disorders is expected to drive the global physiotherapy equipment market growth over the forecast period. For instance, in July 2022, according to data published by the World Health Organization (WHO), as per recent analysis of Global Burden of Disease (GBD) 2019 data, s 1.71 billion people globally suffer with musculoskeletal conditions that include low back pain, neck pain, fractures, other injuries, osteoarthritis, and others.
Global Physiotherapy Equipment Market- Driver
Increasing Prevalence of Musculoskeletal Disorders
Increasing prevalence and risk factor associated with the musculoskeletal disorders among electronics manufacturing workers is expected to drive the global physiotherapy equipment market growth over the forecast period. For instance, in January 2023, according to data published by Biomed Central Ltd, 12-month prevalence of work-related musculoskeletal disorders (WMSDs) globaly, among participants was 40.6%, globally, and the common body sites affected were the neck (26.8%), shoulder (22.8%), upper back (14.9%), and lower back (14.8%) in the year 2019.
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Global Physiotherapy Equipment Market- Restraint
Inadequate Reimbursement Policies
Inadequate reimbursement policies are expected to hinder growth of the global physiotherapy equipment market. Reimbursement policies for physiotherapy equipment vary across the world. For instance, in the U.S., Medicare and Medicaid are key insurance programs that are managed by the Centers for Medicare & Medicaid Services, an organization that covers health-related services in the country. However, Medicare does not reimburse physiotherapy, speech therapy, occupational therapy, chiropractic services, and eye therapy. Proper establishment of the process can overcome the inadequate reimbursement policies
Physiotherapy Equipment Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2023: | US$ 24.66 Bn | |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 6.9% | 2030 Value Projection: | US$ 39.36 Bn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | Enraf-Nonius B.V., DJO Global, EMS Physio Ltd., Dynatronics Corporation, A. Algeo Limited, BTL Industries, Inc., HMS Medical Systems, Whitehall Manufacturing, Patterson Companies, Inc., and Isokinetics, Inc. | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Global Physiotherapy Equipment Market- Opportunity
Facility Expansion by the Key Players
Major players operating in the global physiotherapy equipment market are focused on adopting various strategies to enhance their market share. For instance, in July 2019, Dynatronics Corporation, a medical device companyannounced it has expanded The Speed Factory, the U.S. Speedskating training facility at the Utah Olympic Oval.
Global Physiotherapy Equipment Market- Cross Sectional Analysis
Among application, the musculoskeletal segment is expected to hold a dominant position in the global physiotherapy market over the forecast period, due to increasing number of musculoskeletal injuries among athletes and workers. For instance, in November 2019, a data was published by the ClinMed International Library, research repository and an open access publisher, according to that, a survey was conducted for musculoskeletal injuries for the weightlifters, in Nigeria, The prevalence of musculoskeletal injury was 47.3% and the most injured body part was the shoulder (41.8%).
Global Physiotherapy Equipment Market- Segmentation
Global physiotherapy equipment market report is segmented into product, application, end user, and region.
Based on Product, the market is segmented into equipment, accessories. Out of which, the equipment segment is expected to dominate the physiotherapy equipment market during the forecast period. Due to increase in number of surgaries
Based on Application, the physiotherapy equipment market is segmented into musculoskeletal, neurology, cardiovascular and pulmonary, pediatric, and others. Out of which the musculoskeletal segment is expected to hold a dominant position in the physiotherapy equipment market over the forecast period.
Based on End User, the physiotherapy equipment market is segmented into hospitals, clinics, and others. Out of which the hospitals segment is expected to hold a dominant position in the physiotherapy equipment market over the forecast period.
Global Physiotherapy Equipment Market- Key Developments
Increasing funding in physiotherapy is expected to drive the market growth. For instance, in September 2020, European Union (EU)-based startup for rehabilitation platform Raccoon Technologies, Inc. recently raised an additional US$ 738k from private investment fund quarter partners in the second phase of its seed funding round, bringing the round’s total to US$ 1063k.
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Key Market Takeaways:
Global physiotherapy equipment market is expected to exhibit a CAGR of 6.9% during the forecast period. For instance, in January 2019, Dynatronics Corporation, a medical device company attended the American Physical Therapy Association (APTA) Combined Sections Meeting held in Washington DC.
Among product, the equipment segment is expected to hold a dominant position in the global physiotherapy equipment market over the forecast period, owing to increasing demand for the physiotherapy equipments for all kinds of patients including those recovering from surgery and accidents and those suffering from chronic diseases like arthritis
Competitive Landscape:
Key players operating in the global physiotherapy equipment market include Enraf-Nonius B.V., DJO Global, EMS Physio Ltd., Dynatronics Corporation, A. Algeo Limited, BTL Industries, Inc., HMS Medical Systems, Whitehall Manufacturing, Patterson Companies, Inc., and Isokinetics, Inc.
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Market Segmentation:
- Global Physiotherapy Equipment Market, By Product:
- Equipment
- Hydrotherapy
- Cryotherapy
- Continuous Passive Motion (CPM)
- Electric Stimulation
- Heat Therapy
- Therapeutic Exercises
- Ultrasound
- Accessories
- Equipment
- Global Physiotherapy Equipment Market, By Application:
- Musculoskeletal
- Neurology
- Cardiovascular and Pulmonary
- Pediatric
- Others
- Global Physiotherapy Equipment Market, By End User:
- Hospitals
- Clinics
- Others
- Global Physiotherapy Equipment Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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