Global Physiotherapy Equipment Market Report, published by Variant Market Research, forecast that the global market is expected to reach $27.6 Billion by 2024 from $15.9 Billion in 2016, growing at a CAGR of 7.1% from 2016 to 2024. By geography, Asia Pacific and North America are expected to grow at a CAGR of 8.2% and 7.0%, respectively, during the forecast period.
Factors such as increasing prevalence of cardiovascular and neurological disorders, growing geriatric population, technological advancements and growing number of physiotherapy clinic drives the growth of the global physiotherapy equipment market. Moreover, growing awareness among people of emerging economies and technological innovations such as robotic assisted systems, interactive video systems, exoskeletons and others might provide growth opportunities. Though, high maintenance costs might hamper the growth in forecast period.
The global physiotherapy market has been categorized into product, application, end-user, and geography. By product type, the market is bifurcated into equipment (hydrotherapy, cryotherapy, continuous passive motion (CPM), electric stimulation, heat therapy, therapeutic exercises, ultrasound and others) and accessories (orthoses and others). Among which, equipment accounted for the major share in 2016, followed by accessories. Application is segmented into musculoskeletal, neurology, cardiovascular and pulmonary, pediatric and others. Musculoskeletal held the largest segment share and is also expected to dominate the market with fastest CAGR during the forecast period. Furthermore, end-user is categories into hospitals, clinics and others. Hospitals held the major chunk in the segment in 2016 and are expected to dominate with fastest CAGR.
North America, Europe, Asia-Pacific and Rest of the World (RoW) are the key geographical segments of the global physiotherapy equipment market. Asia Pacific is the fastest growing region in the global market, driven by, improving healthcare sector, high rate of patients suffering from osteoporosis and rise in the level of health awareness. North America accounted the largest share of the market followed by Europe in the year 2016.
Major companies operating in the global physiotherapy equipment market include Enraf-Nonius B.V., Patterson Companies Inc., Whitehall Manufacturing Inc., EMS Physio Ltd., BTL Industries, Inc., Isokinetics, Inc., Algeo Limited, DJO Global, Inc., Dynatronics Corporation, Inc., and HMS Medical System among others.