by The physiotherapy equipment market is witnessing significant growth owing to the increasing prevalence of chronic diseases and rise in aging population globally. Physiotherapy equipment helps in the rehabilitation of patients suffering from cardiopulmonary and neurological disorders through physical exercises and therapies. Key devices utilized in physiotherapy include ultrasound, laser therapy, therapeutic exercise and electrotherapy devices.
Physiotherapy equipment is extensively utilized in the rehabilitation of musculoskeletal injuries, sports injuries and post-surgical conditions. Devices such as continuous passive motion systems aid in regaining joint mobility and muscle strength. Therapeutic ultrasound systems help reduce inflammation and scar tissue formation. Electrotherapy devices deliver heat or electric current through the skin for pain management. Increasing participation in sports activities and rising road accidents and trauma cases globally are majorly propelling the demand for physiotherapy equipment. The elderly population is more prone to musculoskeletal conditions driving significant spending on rehabilitation therapies.
The Global Physiotherapy Equipment Market is estimated to be valued at US$ 28.41 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
Key Takeaways
Physiotherapy Equipment Companies are Abbott Laboratories, Agilent Technologies, Affymetrix Inc., Beckman Coulter, Inc., Illumina Incorporated, Life Technologies Corporation, Randox Laboratories Ltd., Surfix B.V, GE Healthcare, F. Hoffmann-La Roche Ltd, and AYOXXA Biosystems GmbH.
The growing demand for physiotherapy from the aging population and rising incidences of sports injuries and road accidents are majorly driving the growth of the global physiotherapy equipment market. As per studies, over 60% of adults aged 65 years and above suffer from at least one type of musculoskeletal condition pushing the demand for rehabilitation therapies.
Major players are expanding their global footprint through acquisitions and partnerships with local players. They are focusing on emerging Asian countries owing to growing healthcare infrastructure and rising medical tourism. Industry players are investing heavily in R&D to develop innovative devices integrated with virtual reality, robotic technologies and digital therapies for faster recovery of patients.
Market Key Trends
One of the major trends contributing to the growth of the physiotherapy equipment market is increasing adoption of virtual reality and robotics. Virtual reality systems when integrated with devices like treadmills, stationary bicycles allow immersive rehabilitation experience to patients. They are highly effective in gait and balance training. Robotic exoskeletons aid in walking therapy for spinal cord injuries. Wearable sensors and technologies are enabling remote and home-based physiotherapy sessions. This is positively impacting the market growth especially amidst the pandemic. Industry players are investing in development of multi-functional devices catering to various rehabilitation needs in orthopedic, neurological and sports injuries management. Integration of artificial intelligence for customized therapy management based on individual condition and recovery progress is another emerging trend in the physiotherapy equipment market.
Porter’s Analysis
Threat of new entrants: High capital requirements and economies of scale in production and distribution act as entry barriers for new players.
Bargaining power of buyers: Individual buyers have low bargaining power considering the specialized nature of physiotherapy equipment. However, large hospitals and institutions can negotiate on price and payment terms.
Bargaining power of suppliers: The diversity of suppliers for different components and parts used in manufacturing physiotherapy equipment limits their bargaining power over equipment manufacturers.
Threat of new substitutes: While some substitute treatments exist, physiotherapy equipment enables non-invasive and effective treatment increasing customer preference and stickiness.
Competitive rivalry: The market is highly competitive due to large number of global and regional players. Differentiation is through product innovation and customer support.
Geographical Regions
North America dominates the global market, accounting for over 30% of the total market value, led by a large elderly population and higher healthcare spending in the US and Canada.
Asia Pacific is expected to be the fastest growing regional market during the forecast period backed by rising geriatric population, increasing healthcare expenditure and growing incidences of musculoskeletal conditions in highly populated countries like China and India.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
