What the market looks like?
Growth in physiotherapy 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.
According to the new market research report “Physiotherapy Equipment Market by Product (Laser Therapy, Ultrasound, Cryotherapy, Electrotherapy, and Accessories), Application (Musculoskeletal, Gynecology, Pediatric, Cardiovascular), and Region – Global Forecast to 2024”, published by MarketsandMarkets™, the Physiotherapy Equipment Market is projected to reach USD 21.1 billion by 2024 from US 15.0 billion in 2018, at a CAGR of 5.8%.
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Players in the physiotherapy equipment market are increasingly focusing on technological advancements and developing new products to bring out advanced and easy-to-use devices. Advancements such as virtual reality, robotics, exoskeletons, implanted devices, and interactive video games are expected to provide a wide range of opportunities for market players.
In 2015, ReWalk Robotics Ltd., a leading global exoskeleton manufacturer, launched the latest edition of its personal powered exoskeleton system—the ReWalk Personal 6.0. However, the high cost of this system acts as a hindrance. The ReWalk Personal 6.0 System costs, on an average, USD 81,000. Ottobock’s C-Brace is priced at USD 75,000. Indego Personal, approved in 2016, is priced at USD 98,000.
Similarly, interactive video games are increasingly being used in physical and rehabilitation centers to speed up the recovery of patients suffering from neurological disorders. For instance, MIRA is a software application designed to make physiotherapy convenient for patients in need of rehabilitation. It turns physical exercises into video games and uses Microsoft Kinect to track and assess patient treatment compliance.
Global Market Segmentation:
The electrotherapy equipment segment is projected to occupy the majority of the market share during the forecast period.
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).
Browse and in-depth TOC on “Physiotherapy Equipment Market”
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Geographical Growth Analysis:
In 2018, Europe accounted for the largest share of the market.
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 this 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 this market.
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Major vendors in the physiotherapy equipment market include DJO Global (US), Performance Health (US), BTL Industries (US), and EMS Physio (UK).
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