The global physiotherapy equipment market is anticipated to achieve a valuation of around USD 24.7 billion by 2022, finds a report by Grand View Research, Inc. The market is predicted to expand at a 7.1% CAGR from 2012 to 2022 (forecast period). Increasing cases of pain in ligaments, nerves, muscles, and back and neck coupled with rise in injuries is anticipated to drive the growth of the market over the forecast period. Prevalence of Parkinson’s disease and stroke are predicted to further propel the market in the forthcoming years.
Presence of effective therapies, advances in technologies, and favorable government policies are factors expected to spur the market for physiotherapy equipment over the forecast period. Approval of console-based therapy and launch of smartphone applications to assist patients with home exercises can also augur market. This is exemplified by the U.S. Food and Drug Administration (FDA) approval of the Kinect console therapy system by BioGaming, an Israeli company in 2016.
Rise in number of physiotherapy clinics and expansion of services are expected to drive the growth of the market for physiotherapy equipment. In February 2014, SingHealth Polyclinics (SHP) launched its physiotherapy center in Singapore to serve the community and provide efficient care. In January 2015, the Glasgow Caledonian University (GCU) launched the Caledonian Clinic for exclusive therapy sessions for students and staff.
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The worldwide physiotherapy equipment market is segmented by application, type, demographic, end-use, and region. Major applications comprise cardiology & pulmonary, musculoskeletal, pediatric, neurology, and others. The musculoskeletal segment accounted for a large market share in 2014 owing to a rise in cases of musculoskeletal disorders. The neurology segment is anticipated to expand at a robust CAGR owing to presence of qualified healthcare personnel, unmet needs in low-income countries, prevalence of neurological disorders, and rise of disposable incomes.
By type, the market for physiotherapy equipment is divided into therapeutic exercise, electric stimulation, cryotherapy, hydrotherapy, heat therapy, ultrasound, continuous passive motion (CPM), and others. The ultrasound segment accounted for a large market share in 2014 and will continue dominating the global market till 2022. It is expected to exhibit a CAGR above 8% during the forecast period. The electric stimulation segment accounted for a notable market share owing to rising use for rehabilitation purposes for the treatment of cerebral palsy, stroke, and multiple sclerosis.
On the basis of demographic, the market is bifurcated into geriatric and non-geriatric. These segments are further sub-divided into in-patient and outpatient. The non-geriatric segment accounted for a large market share in 2014. However, its counterpart may capture a large share over the forecast period due to rising applications among the elderly populace. Major end-uses encompass clinics, hospitals, and others.
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Regions covered in the market report include Latin America, North America, Europe, Middle East and Africa (MEA), and Asia Pacific (APAC). The North America market was dominant in 2014, generating revenue close to USD 5.74 billion. Presence of sophisticated healthcare infrastructure, favorable government policies, and rise in the baby boomer demographic are expected to drive regional growth. Increase in geriatric populace, high prevalence of osteoporosis among women, and high incidence of workplace accidents can further bolster market growth in the forthcoming years.
The APAC physiotherapy equipment market is expected to experience significant growth over the forecast period owing to constant economic development, patient awareness, improving healthcare infrastructure, and high investment opportunities. Japan possesses the potential to contribute to market growth till 2025 owing to increase in geriatric populace coupled with coverage for physiotherapy treatments and services.
The Europe market is touted to generate demand owing to physiotherapy services for the elderly and supportive government policies. France, Germany, and the U.K. accounted for major share in the market.
Key market players include Isokinetics Inc.; BTL Industries; Patterson Medical; EMS Physio; and DJO Global. Acquisitions, partnerships and collaborations, and development of advanced devices are strategies being employed by players to sustain their position in the global physiotherapy equipment market. In 2017, Archimedes SAS decided to acquire the Crystal Palace Physio Group to become one of the leaders in musculoskeletal solutions. Instances of new therapies include robot-assisted walking for patients with spinal cord injuries, computer-aided therapy programs, and dry needling.
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