Physiotherapy Equipment Market

The global Physiotherapy Equipment Market was valued at USD 18.67 billion in 2021, growing at a CAGR of 7.44% during the forecast period from 2024 to 2030 to reach USD 28.62 billion by 2030. The Physiotherapy Equipment market is witnessing positive growth owing to various factors such as the rise in the geriatric population leading to an increase in the number of osteoporosis cases, the increasing prevalence of musculoskeletal disorders, the rising incidence of Spinal Cord Injuries (SCI), and the surge in the regulatory approvals for Physiotherapy Equipment. Therefore, the market for Physiotherapy Equipment is estimated to grow at a significant CAGR during the forecast period from 2024 to 2030.

Physiotherapy Equipment Market By Product Type (Electrotherapy, Ultrasound Therapy, Shockwave Therapy, Laser Therapy, And Others), By Application (Musculoskeletal, Neurology, Cardiovascular, And Others), By End-User (Physiotherapy Centers, Hospitals, Rehabilitation Centers, And Others), and by geography is expected to grow at a steady CAGR forecast till 2030 owing to the rise in the geriatric population and the rising incidence of spinal cord injuries (sci) among others.

Physiotherapy Equipment Market Dynamics

One of the key factors driving the Physiotherapy Equipment market positively is the rise in the geriatric population globally. According to the World Health Organization (WHO) data published in the year 2021, worldwide, it was estimated that between the years 2015-2050 people aged 60 and above will get doubled from 12-22% and will reach 2.1 billion by the year 2050. Moreover, as per the same source, by the year 2030, 1 in 6 people in the world will age 60 years or above. Furthermore, the number of people aged 80 years or above is expected to get triple between the years 2020 and 2050 to reach 426 million around the world. Therefore, with aging, physical disabilities such as Parkinson’s disease, muscular dystrophy, rheumatoid arthritis, and other related disorders also increase. Thus, for treating such disabilities Physiotherapy Equipment demand can increase, thereby propelling the growth of the overall Physiotherapy Equipment market during the forecast period (2024-2030).

Additionally, the rise in the geriatric population leads to an increase in the number of osteoporosis cases. For instance, according to the International Osteoporosis Foundation data published in the year 2021, in 2019, in Europe, 32 million individuals aged 50+ suffered from osteoporosis.

Another key factor that is responsible for the growth of the Physiotherapy Equipment market is the increasing prevalence of musculoskeletal disorders. According to the World Health Organization (WHO) data published in the year 2021, as per the latest statistics, musculoskeletal pains affect approximately 1.71 billion people around the world. Further, among people with musculoskeletal disorders, lower back pain is the most common musculoskeletal condition, affecting 568 million people worldwide, as per the above-mentioned source and statistics. Furthermore, Physiotherapy Equipment could be used to restore the function & movement of joints as well as muscles and can help to get relief from the pain. Therefore, this could boost the Physiotherapy Equipment demand, thereby driving the Physiotherapy Equipment's overall market growth.

However, the availability of alternative therapies such as acupuncture to reduce pain and the lack of trained & skilled professionals for physiotherapy can slow down the Physiotherapy Equipment market growth.

Additionally, the ongoing COVID-19 pandemic has negatively impacted the Physiotherapy Equipment market. The nationwide lockdown in almost every country-restricted people’s visits to hospitals as well as clinics and the unavailability of the workforce at the production sites hampered the manufacturing process of the devices due to which there was a product shortage in the market. However, with the masses being vaccinated, relaxation in lockdown restrictions, an increase in the number of people’s visits to hospitals & clinics, and resumption of supply chains, logistics, and manufacturing units, the Physiotherapy Equipment market has picked momentum again and is expected to grow during the forecast period.

Physiotherapy Equipment Market Segment Analysis

Physiotherapy Equipment Market by Product Type (Electrotherapy, Ultrasound Therapy, Shockwave Therapy, Laser Therapy, and Others), Application (Musculoskeletal, Neurology, Cardiovascular, and Others), End-User (Physiotherapy Centers, Hospitals, Rehabilitation Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the by-product type segment of the Physiotherapy Equipment market, electrotherapy equipment is expected to hold a significant revenue share in the year 2021. The key attributes driving the growth of the electrotherapy equipment market are that electrotherapy equipment emits electrical impulses which disrupt or inhibit the body's pain signals to decrease pain as well as it helps to release endorphins (chemical messengers) which reduce pain in the body naturally and induces a warm sensation throughout the body which enhances blood circulation and promotes recovery.

Therefore, the key benefits associated with electrotherapy equipment would increase Physiotherapy Equipment demand in the market, which will drive the growth of the overall Physiotherapy Equipment market during the forecast period. Furthermore, an increase in development activities would further result in the rising demand for Physiotherapy Equipment. For instance, in May 2021, ITO CO LTD, a pioneer of electrophysical agents in Japan, announced that its electrical muscle stimulator for temporomandibular joint (TMJ) pain relief ""D function"" has received Food and Drug Administration (FDA), to treat TMJ dysfunction and associated pain.

Therefore, the factors mentioned above would result in the rising demand for Physiotherapy Equipment which in turn would provide a conducive environment for the Physiotherapy Equipment market growth during the forecast period from 2024-2030.

North America is expected to dominate the overall Physiotherapy Equipment Market

Among all the regions, North America is expected to dominate the global Physiotherapy Equipment market in the year 2021 and is expected to do the same during the forecast period from 2024-2030. Factors such as the rising incidence of Spinal Cord Injuries (SCI) and the surge in the regulatory approvals for Physiotherapy Equipment in the region are expected to increase the demand for Physiotherapy Equipment in the North America market.

According to the Spinal Cord Injury (SCI) published data sheet in the year 2020,  approximately 17,810 new SCI occur each year in the United States. Moreover, as per the above-mentioned source, around 78% of newly diagnosed SCI cases are male. Therefore, the rising incidence of SCI also increases the chances of pain, this would increase the demand for Physiotherapy Equipment which in turn will expand the growth environment for the Physiotherapy Equipment market in the North American region.

Furthermore, the surge in the regulatory approvals for Physiotherapy Equipment will also drive the Physiotherapy Equipment market growth. For instance, in May 2022, ManaMed, a worldwide leader in home DVT prevention, orthopedic bracing and medical devices announce the U.S. Food and Drug Administration (FDA) approval for its ManaSport™ ultrasound therapy Class II device for the United States. The apparatus is a brand-new ultrasound therapy equipment that treats soft-tissue injuries while also relieving pain.

Therefore, the interplay of the factors mentioned above for Physiotherapy Equipment would provide a conducive growth environment for the North America region in the Physiotherapy Equipment market. 

Physiotherapy Equipment Companies In the Global Market

Some of the leading Physiotherapy Equipment companies operating in the global market include BTL, Ito Co Ltd, EMS Physio Ltd, Dynatronics Corporation, COMPASS HEALTH BRANDS CORP, Performance Health, Zynex Medical Inc, DJO LLC, Whitehall Manufacturing, Zimmer MedizinSysteme GmbH, STORZ MEDICAL AG, Mettler Electronics Corp, A. Algeo Ltd, HMS Medical Systems, Johari Digital, NEVRO CORP, BioElectronics Corporation, among others.

Recent Developmental Activities in the Physiotherapy Equipment

• In July 2021, Nevro Corp, a global medical device company, announced FDA approval of its Senza® System for the treatment of chronic pain associated with Painful Diabetic Neuropathy (PDN).
• In October 2020, NanoVibronix, a medical device company, launched a new ultrasound pain management equipment, named PainShield Plus, for the treatment of multiple areas of pain in tandem.
• In February 2020, BioElectronics Corporation, a medical device company, received US FDA approval for its drug-free ActiPatch medical device for the treatment of musculoskeletal pain. It uses electromagnetic pulse treatment which provides long-lasting pain relief for chronic conditions such as arthritis, back pain, knee pain, and others.    

Key Takeaways from the Physiotherapy Equipment Market Report Study

• Market size analysis for the current Physiotherapy Equipment market (2023), and market forecast for 5 years (2024-2030)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Physiotherapy Equipment market
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years
• Key companies dominating the global Physiotherapy Equipment
• Various opportunities are available for the other competitors in the Physiotherapy Equipment market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current Physiotherapy Equipment market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Physiotherapy Equipment market growth in the coming future?

Target Audience Who Can be Benefited from Physiotherapy Equipment Market Report Study

• Physiotherapy Equipment providers
• Research organizations and consulting companies
• Physiotherapy Equipment-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in Physiotherapy Equipment
• Various end-users who want to know more about the Physiotherapy Equipment market and the latest technological developments in the Physiotherapy Equipment