Europe is the major revenue-generating regions in the global physiotherapy equipment market. Factors such as the rising geriatric population, increasing inclination for active lifestyles, the penetration of physiotherapy services, and favorable healthcare reforms are driving the growth of the physiotherapy equipment industry in Europe.
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.
The physiotherapy equipment market is projected to reach USD 21.1 billion by 2024 from USD 15.1 billion in 2018, at a CAGR of 5.8%. The growth of this market is primarily 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.
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Application Of Physiotherapy Equipment Market:
1. Musculoskeletal Applications
2. Neurological Applications
3. Cardiovascular & Pulmonary Applications
4. Pediatric Applications
5. Gynecological Applications
In 2018, the musculoskeletal applications segment accounted for the largest share of the market, followed by the neurological applications segment. The large share of the musculoskeletal applications segment is attributed to the rising incidence of musculoskeletal disorders, growth in the geriatric population, and the increasing number of accidents.
The electrotherapy equipment segment is projected to grow at the highest CAGR between 2018 and 2024. Growth in this segment is mainly driven by the increasing adoption of electric stimulation-based techniques for physiotherapy. Neuromuscular electrical stimulation (NMES), specifically functional electrical stimulation (FES) that compensates for voluntary motion, and therapeutic electrical stimulation (TES) aimed at muscle strengthening and recovery from paralysis are widely used in clinical settings for rehabilitation, especially for stroke.
Cybertherapy is another technological advancement spurring market growth. In cybertherapy, patients use a wireless interface with their doctors. The use of eTherapy is also gaining wider acceptance as it is associated with a wide range of benefits for medical professionals and patients in need of physiological treatments. Such technological advances will propel the demand for physiotherapy products in the forecast period.
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Key Players In Global Physiotherapy Equipment Market:
DJO Global, Inc., BTL Industries, Enraf-Nonius B.V, Dynatronics Corporation, EMS Physio, ITO Co. Ltd, Mectronic Medicale, Performance Health (Subsidiary of Madison Dearborn Partners), Whitehall Manufacturing, Zimmer Medizinsysteme GmbH.
Acupuncture is widely used and accepted throughout the medical community as a viable alternative to physiotherapy owing to its numerous benefits, such as high patient compliance and low cost. Owing to its wide range of benefits and low costs, many patients opt for acupuncture over other physiotherapy options, which challenges market growth to a certain extent.
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