There has been a high level of technological improvement in physical therapy equipment in the past few years, which is fueling the global market growth. Also, as physical therapy equipment is designed specifically to assist people to either regain or improve their physical abilities; thus, number of companies are investing in this market.
The Global Physical Therapy Equipment Market Growth is expected to hold a value of USD 19,100 Million by 2025 at a CAGR of 6.21%, says Market Research Future in Physical Therapy Equipment Market Forecast 2020.
The increasing initiatives by public and private companies boost market growth. The growing number of equipment launches also acquisitions and mergers of key players in the market are likely to act as a promising factor for the growth in the near future. For instance, in February 2019, Colfax acquired DJO Global, Inc. for USD 3.15 billion. This helps Colfax to widen its product portfolio in the orthopedic segment.
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- Growing prevalence of orthopedic disorders
- Rising geriatric population
- Rising incidence of sport injuries
- Increasing awareness about physical therapy equipment
- Rising incidences of road accidents
- Huge number of R&D activities in the field of physiotherapy
- Upsurging support by public and private companies
- Increasing mergers and acquisitions by prominent players in the market. For instance, in April 2017, Dynatronics’s acquired Hausmann Industries, a manufacturer of branded, high-quality physical therapy and athletic training products. With this acquisition, the company aimed to increase business in the physical therapy equipment market
- Growing government schemes promoting the use of rehabilitation equipment
- Inadequate reimbursement policies for physiotherapy
- Lack of trained and skilled personnel
- Equipment: Expected to hold the largest share, owing to the wide range of applications it offers. The type of equipment is electrotherapy equipment, ultrasound equipment, exercise therapy equipment, cryotherapy equipment, combination therapy equipment, continuous passive motion (CPM) therapy equipment, shockwave therapy equipment, laser therapy equipment, traction therapy equipment, magnetic therapy equipment, and others.
- The use of physical therapy equipment is increased due to the global increase in orthopedic diseases. For example, approximately 80% of Americans will experience back problems at some point in their lives. Also, an estimated 10% of the world’s population suffers from lower back pain.
- Accessories: This is expected to be the fastest segment attributed to increasing use of physical therapy equipment for the cure of musculoskeletal diseases. The accessories segment is further divided into two types, namely, physiotherapy furniture and physiotherapy tapes and bandages.
- Musculoskeletal Applications: Expected to hold the largest share, owing to increasing incidence of musculoskeletal disorders and also increasing the geriatric population.
- Neurological Applications: This is expected to hold the fastest segment is attributed to an increase in prevalence of neurological diseases such as paralytic attacks and strokes.
- Cardiovascular & Pulmonary Applications: The cardiovascular and pulmonary applications segment is witnessing significant growth due to increasing prevalence of cardiovascular diseases and chronic obstructive pulmonary disease (COPD).
- Pediatric Applications: Increased use of physical therapy for musculoskeletal (MSK) disorders in children.
- Gynecological Applications: The role of physiotherapy is in obstetrics and gynecology involves pregnancy, labor, and the puerperium, preoperative, and postoperative periods.
- Others: Other applications include rehabilitation centers where the use of physical therapy is increasing.
- Hospitals and Clinics: Hospitals and clinics are expected to hold the largest segment due to usually a large patient pool and advanced physical therapy setups in hospitals based on the need of patients. Growing awareness about new physical therapy is projected to drive the growth of this segment during the forecast period.
- Physiotherapy Centers: Expected to hold the fastest segment, owing to growing awareness about new physical therapy among the population.
- Home Care Settings: Many companies launching the range of physical therapy devices available for use at home.
- Americas: The largest regional market. Countries such as the US and Canada have well-established physical therapy centers which constitute advanced physical therapy systems and instruments. This contributes to the growth of the physical therapy equipment market in this region.
- Europe: The Europe market is expected to hold the second-largest market due to increasing prevalence of neurological disorders, orthopedic problems coupled with cardiopulmonary diseases in the region.
- Asia-Pacific: The Asia-Pacific region is anticipated to be the fastest-growing region in the global physical therapy equipment market. This is due to the increasing geriatric population and a large number of patients suffering from neurological diseases in China and Japan.
- Middle East & Africa: The smallest market due to limited healthcare infrastructure and limited exposure to technological advancements.
- DJO Global, Inc. (US)
- BTL Industries (US)
- Enraf-NoniUS B.V (Europe)
- Dynatronics Corporation (US)
- EMS Physio (UK)
- ITO Co. Ltd (Japan)
- Mectronic Medicale (Europe)
- Performance Health (Subsidiary of Madison Dearborn Partners) (US)
- Whitehall Manufacturing (US)
- Zimmer Medizinsysteme GmbH (Germany)
- Colfax Corporation (US)
- STORZ MEDICAL (US)
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