Physiotherapy Equipment Market is anticipated to grow at a 5.4% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Physiotherapy Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global physiotherapy equipment market was estimated to be over US$ 15 Bn in 2018. It is anticipated to grow at a CAGR of 5.4% from 2019 to 2030.
The continual growth of the physiotherapy equipment market can be attributed to several factors such as increasing sports injuries, rising prevalence of chronic diseases and growing geriatric population. Additionally, increasing road accidents in the global scenario is likely to drive the market. One of the major factor that supports the growth of this market is the rising number of functional disabilities in the global geriatric population. To obtain better insights regarding the market scenario, prominent players are increasingly focusing on innovations and technological advancements. For instance, the University of South Florida is using the virtual reality technology to study how VR can help patients who have disabilities or have suffered strokes or traumatic injuries. However, shortage of trained professionals and less awareness about different physiotherapy options is likely to restrain the growth of overall market.
The rapid growth in the number of physiotherapy clinics and increase in the physiotherapeutic services are the factors propelling the growth of this market. Moreover, technological advancements in physiotherapy equipment such as robotic systems, implanted devices and interactive video systems are expected to fuel the growth of physiotherapy equipment market. For instance, The Berkeley-based company Ekso Bionics developed the Ekso suit which is an aluminum and titanium exoskeleton that helps patients suffering from varying degrees of paralysis or hemiparesis with movement.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Physiotherapy Equipment Market is anticipated to grow at a significant CAGR from 2019 to 2030. in detail along with the table of contents:https://www.marketindustryreports.com/physiotherapy-equipment-market/102
The physiotherapy equipment market is majorly driven by rising number of ageing population across the globe. Increasing rate of occurrence of stroke and Parkinsons disease, growing incidence of cerebrovascular disease, degenerative joint disorders boost the growth of overall market. The factors such as pain in body muscles, ligaments, back, nerves, changes in lifestyles are anticipated to positively contribute to the growth of this market.
The maintenance cost of the physiotherapy equipments is very high. Owing to its high maintenance cost, small and medium-sized clinics and rehabilitation centers are not able to afford it. Therefore, this hampers the growth of physiotherapy equipment market. Moreover, lack of trained and skilled professionals to control and operate the physiotherapy equipment and presence of substitute services such as acupuncture are the factors curtailing the growth of this market. This market is majorly restrained by fickle reimbursement scenario for physiotherapy.
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Increasing population, continuously growing economy and increasing awareness is expected to aid the growth of the physiotherapy equipment market in this region. Additionally, this region is expected to show the fastest growth due to availability of large patient pool and consistently refining healthcare infrastructure. The growth of this market is centered at emerging economies such as China, Japan and India. Thus, this is an opportunity for market leaders to focus on this region as it is likely to be an important revenue generator during forecast period.
The prominent players in the physiotherapy equipment market are BTL, Enraf-Nonius B.V., Dynatronics Corporation, EMS Physio Ltd., Ito Co., Ltd., A. Algeo Limited, Zimmer MedizinSysteme GmbH, Whitehall Manufacturing, Mectronic Medicale S.r.l., HMS Medical Systems among others.
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