Increasing Global Geriatric Population to Drive Physiotherapy Equipment Market
Published On : Aug 12, 2015
Physiotherapy is a treatment given by physiotherapists (PTs) to restore proper functioning of the body. Factors such as age, disease, injury, and environment are responsible for adversely affecting the body.
PTs employ a combination of physical therapy tools and equipment to restore body function of patients. Moreover, by assessing the patient’s examination results and medical history, PTs devise plans for treatment and management of the condition and rehabilitation post-treatment.
Higher Participation in Sports Leading to Sports Injury, Benefits PT Equipment Market
Increasing prevalence of neurological and cardiovascular diseases, ever-increasing geriatric population, increasing incidence of sports injuries, and increasing awareness about the therapeutic benefits of physical therapy are the major factors driving the physical therapy equipment market.
However, inadequate reimbursement policies for physical therapy equipment pose a challenge to the growth of this market. High cost of tools and equipment used for physical therapy makes it unaffordable for many, thus generating a need for favorable reimbursement reforms.
The global physiotherapy equipment market was estimated at US$14,972.1 million in 2015 and is expected to reach US$23,750.9 million by 2022, expanding at a CAGR of 6.8% from 2015 to 2022.
Growing Spread of Hospitals in Emerging Nations to Propel Physiotherapy Equipment Market
The global physiotherapy equipment market is divided on four fronts: applications, products, end user, and geography. By product type, the market is divided into equipment and accessories. While equipment is the largest product segment, accessories account as the fastest growing product segment.
The equipment segment is further sub-segmented into hydrotherapy, continuous passive motion, heat therapy, ultrasound, cryotherapy, electric stimulation, and therapeutic exercises. In the equipment segment, hydrotherapy accounts for the largest market share, whereas ultrasound and electric stimulation are the fastest growing sub-divisions in the overall market.
The accessories segment comprises orthoses and other assistive devices (crutches and wheel chairs).
By application, the physiotherapy equipment market is segmented into musculoskeletal, cardiovascular, pediatric, neurology, pulmonary, and others.
Hospitals, clinics, and others (hospices, healthcare centers) are the major end-use segments of the market for physical therapy equipment. Hospitals are the largest and fastest growing end users of this market.
Demand for High-Quality Healthcare in North America to Fuel Demand for Physical Therapy Equipment
North America, Asia, Europe, and Rest of the World (RoW) are the key regional markets for physical therapy equipment.
By geography, North America leads the physical therapy equipment market due to the increasing aging population and high incidence of cardiopulmonary and neurological diseases. In addition, government initiatives for improved healthcare are supporting growth of the physical therapy equipment market in the region.
Europe trails North America in the market for physical therapy equipment. The increasing prevalence of musculoskeletal problems, neurological disorders, and cardiopulmonary diseases is responsible for moderate growth of the physical therapy equipment market in the region. Moreover, increasing geriatric population in the region is also contributing to the growth of this market in the region.
However, Asia represents the fastest growing market for physical therapy equipment. Increasing geriatric population and a large chunk of the population suffering from neurological disorders in China and Japan are the main reason driving the physical therapy equipment market in the region.
Some of the major companies having a major presence in the global physical therapy equipment market are Enraf-Nonius B.V., EMS Physio Ltd., A. Algeo Limited, HMS Medical Systems, Patterson Companies, Inc., DJO Global, Dynatronics Corporation, BTL Industries, Inc., Whitehall Manufacturing and Isokinetics, Inc.
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