CHICAGO, Aug. 2, 2022 /PRNewswire/ -- Physiotherapy Equipment Market is projected to grow from USD 18.4 billion in 2022 to USD 24.5 billion by 2027, at a CAGR of 6.0% from 2022 to 2027, according to a new report by MarketsandMarkets™. The growing demand for rehabilitative care, the growing incidence of sports injuries, degenerative joint disorders, and cerebrovascular disease, and rapidly growing geriatric population; the subsequent increase in the global prevalence of chronic diseases is driving the growth of market.
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By Product, equipment dominates the physiotherapy equipment market in 2021
Based on product, the physiotherapy equipments market is segmented into equipment and accessories. The equipment segment accounted for the largest share of the market in 2021. Growing adoption of healthier lifestyle habits along with increasing incidence of injuries and chronic diseases are driving the demand for physiotherapy services, which in turn are driving the revenue in equipment segment in the market. The equipment segment is further segmented into electrotherapy equipment, ultrasound equipment, exercise therapy equipment, heat therapy equipment, cryotherapy equipment, combination therapy equipment, continuous passive motion therapy equipment, shockwave therapy equipment, laser therapy equipment, magnetic pressure therapy equipment, traction therapy, and other physiotherapy equipment (hydrotherapy and vacuum therapy). Electrotherapy segment is expected to remain the fastest growing segment during the forecast period. The electrotherapy equipment pose no/minimal side effects during the physiotherapy treatments. Additionally, these equipment are finding significant use in musculoskeletal applications.
Musculoskeletal applications segment is the largest application segment in the physiotherapy equipment market in 2021
Based on application, the physiotherapy equipments market is segmented into the musculoskeletal applications, neurological applications, cardiovascular and pulmonary applications, pediatric applications, gynecological applications, and other applications (including sports and palliative care). In 2021, musculoskeletal applications dominated the market by applications. The rising incidence of musculoskeletal disorders, growth in the geriatric population with the subsequent increase in the incidence of musculoskeletal conditions, and the increasing number of accidents are driving the growth of the market for this application segment
Home care settings segment is expected to remain the fastest growing segment in physiotherapy equipment market by end user during the forecast period
Based on end users, the physiotherapy equipments market is segmented into physiotherapy & rehabilitation centers, hospitals, home care settings, physician offices, and other end users (community health centers and elderly care facilities). The home care settings segment is expected to remain the fastest growing segment during the forecast period. Increasing adoption of home-based physiotherapy services, increasing focus on reducing healthcare costs, and growing government initiatives to promote home healthcare is driving the revenue growth in the home care settings segment.
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Asia Pacific to witness the highest growth rate during the forecast period
By Region, the physiotherapy market is segmented into Europe, North America, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region is expected to show highest growth rate during the forecast period. Increasing focus of vendors towards emerging economies such as India, China, Malaysia, Thailand, and Philipines, growth in the healthcare infrastructure, and rising inclination towards active lifestyle is driving the growth in the Asia Pacific region. Europe dominates the market by region.
The key players operating in the Physiotherapy Equipment Market include Colfax Corp. (US), Zimmer MedizinSysteme GmbH (Germany), Zynex Inc, (US), Performance Health (US), and ITO Co., Ltd. (Japan).
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