(PharmaNewsWire.Com, March 09, 2021 ) This report aims to provide detailed insights into the physiotherapy equipment market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Key Factors Driving Market Growth:
The Growth in physical therapy equipment 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.
Revenue Growth Analysis:
The Physiotherapy Equipment Market is expected to reach USD 21.7 billion by 2025 from USD 16.6 billion in 2020, at a CAGR of 5.6% during the forecast period of 2020 to 2025.
Covid-19 Impact on the Physiotherapy Equipment Market
Asia Pacific countries such as China and India has resulted in delays in the production and shipment of physiotherapy products. All these factors are expected to negatively impact the growth of the physical therapy equipment market. On the other hand, as per the recommendations by the World Confederation for Physical Therapy (WCPT), COVID-19 patients are recommended to undergo physiotherapy for 3-4 weeks for the early recovery and improvement of their overall health. Thus, the demand for physiotherapy equipment is expected to increase in the coming five years due to the growing number of COVID-19 cases.
China, Japan, India, Brazil, and Australia are emerging markets for physiotherapy equipment. These markets lack proper standards and government regulations and offer huge potential for providers unable to meet US standards.
In China, the healthcare infrastructure is in urgent need of modernization, owing to the growth in the aging population and the rising incidence of chronic disorders. In 2013, China had 83.7 million people with disabilities, of which 65 million cannot survive without assistive devices. The aging population (60+ years) will make up 20% of the Chinese population by 2025. Similarly, Japan is another country with one of the most rapidly increasing aging populations in the world. By 2025, 36% of the Japanese population will have crossed 60 years. India is also a high potential market for physiotherapy equipment on account of its huge aging population base, growing healthcare standards, and flourishing home healthcare sector. Moreover, the increasing competition in mature markets will compel physiotherapy manufacturers to focus on emerging markets.
Based on type of equipment, the physiotherapy equipment market is segmented into electrotherapy equipment, ultrasound equipment, exercise therapy equipment, cryotherapy equipment, combination therapy equipment, continuous passive motion therapy equipment, shockwave therapy equipment, laser therapy equipment, traction therapy equipment, magnetic and pressure therapy equipment, and other physiotherapy equipment. In 2019, electrotherapy equipment segment accounted for the largest share of the physical therapy equipment market. The large share of this segment can be attributed to growing use of Neuromuscular electrical stimulation and therapeutic electrical stimulation in clinical settings for rehabilitaion.
Europe and Asia Pacific to Dominate The Market:
Geographically, the global physiotherapy equipment market is segmented into North America, Europe, the Asia Pacific, and Rest of the World )RoW). Asia Pacific is expected to show the highest growth rate during the forecast period. The high growth rate of this region can mainly be attributed to the rising geriatric population, the growing number of private sector hospitals, developments in primary healthcare infrastructure, and the inclination toward active lifestyles.
The leading players in physical therapy equipment market include DJO Global (US), BTL Industries Inc. (US), Performance Health (US), ITO Co., Ltd. (Japan), Enraf-Nonius B.V. (Netherlands), Dynatronics Corporation (US), Mectronic Medicale (Italy), EMS Physio Ltd. (UK), Whitehall Manufacturing (US), Zimmer MedizinSysteme GmbH (Germany), Zinex Inc. (US), STORZ Medical AG (Swotzerland), Life Care Systems (India), and Mettler Electronics Corp. (US).
Recent Developments:
1. In 2019, Colfax Corporation (US) acquired DJO Global (US). Through the acquisition Colfax Corporation will provide physical therapy and orthopedic products under the DJO brand.
2. In July 2018, Mectronic Medicale (Italy) launched Doctor Tecar XP, an electromagnetic tecar therapy stimulator.
3. In April 2018, DJO Global (US) entered into a strategic partnership with XPO Logistics (US) to manage portions of DJO’s North American distribution operations. Under this partnership, DJO opened a state-of-the-art distribution center in Dallas–Fort Worth, Texas, which is being managed by XPO.
4. In February 2018, EMS Physio Ltd. (UK) launched NeuroTrac PelviTone Dual-channel Stimulator.
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