Physiotherapy Equipment Market size will witness lucrative growth during 2021 to 2027 owing to the growing elderly population worldwide. The rise in the number of sports injuries and road accidents has made way for the rising prevalence of degenerative joint and cerebrovascular disorders.
The access to favorable healthcare reforms across several developing economies has resulted in the influx of innovative equipment to offer patient care. The paradigm shift towards hectic lifestyles and unhealthy eating habits will increment the market growth.
The market is classified into equipment and accessories. The electrotherapy equipment sub-segment is slated to rise exponentially with the mount in technological advancements. The growing preference for rehabilitation through neuromuscular and therapeutic electrical stimulation will add to the segment propulsion.
The musculoskeletal segment will expand substantially attributed to the higher prevalence of the disorder. According to the WHO (World Health Organization), around 1.71 billion individuals are affected by musculoskeletal conditions worldwide. The surging number of accidents has led to the increasing need for physiotherapy to tend to musculoskeletal diseases for improving flexibility, muscle strength, and the control of movement. The booming geriatric population size will further favor the segment growth.
The adoption of physiotherapy equipment in hospitals & clinics will grow at a robust pace through the forecast period driven by the presence of a large patient pool in these facilities. Given the higher cost of the equipment, patients are increasingly opting for the procedures in multispecialty hospitals. Moreover, the access to various programs across hospitals may considerably contribute to the market progression.
Market demand for physiotherapy equipment in rehabilitation centers will augment with the increasing consumer focus on counseling, a secure atmosphere, privacy, and aftercare. The shifting inclination towards advanced physiotherapy equipment in these centers has triggered the rise in patient preference. The mount in the number of rehabilitation therapists will also add to the industry growth.
The Asia Pacific physiotherapy equipment market is set to gain significant momentum credited to the expanding population and the rising adaption of active lifestyles. The rapid economic development coupled with the significant improvements in the healthcare infrastructure has led to the rise in the number of private sector hospitals in the region. The higher consumer awareness along with the prolific demand for physiotherapy will foster the regional progression.
Enraf-NoniUS B.V., Zimmer MedizinSysteme, Mectronic Medicale, Performance Health, Dynatronics, Bio-Med, Whitehall Manufacturing, BTL, EMS Physio, ITO, DJO Global (Colfax Corporation), and Algeos are some of the leading physiotherapy equipment providers worldwide.
Novel product developments, R&D investments, and marketing partnerships, such as acquisitions, and mergers are the well-known strategies undertaken by these firms to enhance their geographical footprint and customer base.
For instance, in February 2021, Performance Health inked a definitive agreement to sell off its Biofreeze as well as TheraPearl brands to Reckitt Benckiser Group plc. in an undisclosed deal. The acquisition helped the former company to advance its rehabilitation, sports medicine, and physical therapy-focused growth strategies.
In another instance, in November 2020, Algeos entered an exclusive partnership with Swiss-based medical device manufacturer, Electro Medical Systems, to introduce Guided DolorClast Therapy (GDT) across the U.K. and Irish markets. This new pioneering therapy concept is used in the treatment of musculoskeletal pain.
The global economy was tremendously impacted by the COVID-19 crisis, with the regulation of the social distancing norms and lockdown directives, prompting multiple dramatic changes in businesses. However, the physiotherapy equipment industry saw favorable growth considering the optimum use of the devices by doctors for chest physiotherapy techniques. The equipment proved as a booster to treat chest infections and to improve the oxygen saturation levels in patients showing mild to moderate symptoms.
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