(PharmaNewsWire.Com, September 23, 2019 ) What is the future growth analysis of global Physiotherapy Equipment Market?
The Physiotherapy Equipment Market is projected to reach USD 21.1 billion by 2024 from USD 15.1 billion in 2018, at a CAGR of 5.8%.
What are key factors driving growth of global physiotherapy equipment market?
Growth in physiotherapy market is driven by rapidly growing geriatric population and the subsequent increase in the global prevalence of chronic diseases, and growing incidence of sports injuries, degenerative joint disorders, and cerebrovascular disease.
What the growth opportunities are in physiotherapy equipment market?
In the current market scenario, there is a growing demand for physiotherapy equipment. The physiotherapy market has been categorized based on products, application and region.
The electrotherapy equipment segment is projected to hold the largest share of the market, during the forecast period. The large share of the segment is primarily attributed to the by rapid adoption electrical stimulation-based techniques in rehabilitation. It includes techniques, such as Transcutaneous Electrical Nerve Stimulation, Functional Neuromuscular Stimulation, H-wave Stimulation, Neuromuscular Electrical Stimulation, Interferential Stimulation, Microcurrent Stimulation, Galvanic Stimulation, Sympathetic Therapy, Peripheral Subcutaneous Field Stimulation, Peroneal Nerve Stimulation, and Auricular Stimulation (P-stim).
On the basis of application, the physiotherapy market is segmented into cardiovascular and pulmonary applications, musculoskeletal applications, neurological applications, pediatric applications, gynecological applications, and other applications (includes sports and palliative care). In 2018, the musculoskeletal applications segment accounted for the largest share of the market, followed by the neurological applications segment. The large share of the musculoskeletal applications segment is attributed to the rising incidence of musculoskeletal disorders, growth in the geriatric population, and the increasing number of accidents.
Recent Developments in Global Physiotherapy Equipment Market:
1. In 2018, DJO entered into a strategic partnership with XPO Logistics, to manage portions of DJO’s North American distribution operations.
2. In 2017, Dynatronics partnered with Orthopedic Outfitters to distribute Dynatronics’ physiotherapy and rehabilitation products.
Geographic Growth Analysis:
The physiotherapy equipment market is predominantly divided into four major geographies, namely, North America, Europe, Asia Pacific, and the Rest of the World. Europe accounted for the largest share of physiotherapy market, followed by North America.
The major drivers for the growth of this market are the rising geriatric population, increasing inclination for active lifestyles, the penetration of physiotherapy services, and favorable healthcare reforms. However, an uncertain reimbursement scenario and the need for reforms in physiotherapy educational practices are hindering the growth of physiotherapy market.
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