Physiotherapy Equipment Market Growth Accelerated by Rising Sports Injuries
Physiotherapy Equipment Market |
Physiotherapy equipment are
devices used to treat, manage or prevent physical injuries. They are used by
physiotherapists and other healthcare professionals to help patients manage
pain and promote healing. Some common physiotherapy equipment includes
therapeutic ultrasound, electrical stimulators, continuous passive motion
machines, traction equipment, plinths, exercise balls, mats and parallel bars.
These devices assist physiotherapists in delivering heat therapy, massage,
laser therapy, electrotherapy, ultrasound therapy and other treatments to
patients.
The global physiotherapy
equipment market is estimated to be valued at US$ 28.41 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2024
to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The physiotherapy equipment
market is primarily driven by the rising prevalence of chronic conditions such
as cardiovascular diseases, respiratory diseases, and musculoskeletal
disorders. For instance, according to the Centers for Disease Control and Prevention
(CDC), in 2021 around 133 million Americans had at least one chronic condition
and around 40% of Americans have more than one chronic disease. Such chronic
conditions often require continuous physiotherapy and other physical therapy
methods for effective management, thereby boosting the demand for physiotherapy
equipment. Additionally, growing geriatric population is also fueling market
growth. However, high costs associated with certain physiotherapy devices and
lack of skilled professionals in some regions are some of the factors hampering
market growth.
SWOT Analysis
Strength: Physiotherapy equipment
helps patients recover from injuries and chronic conditions in a safe and
controlled manner. The equipment provides precise movements and repetition that
promotes healing. It allows physiotherapists to focus on individual treatment
plans for patients.
Weakness: Physiotherapy equipment
can be expensive to purchase and maintain. Small practices may not be able to
afford all types of advanced equipment. Some equipment requires specialized
training to use properly which increases costs.
Opportunity: An aging population
and rising rates of chronic conditions like arthritis have increased demand for
physiotherapy services. Continuous innovation is expanding the types of
conditions that can be treated. Growing awareness of preventative healthcare
may lead more people to seek physiotherapy.
Threats: Economic downturns can
negatively impact consumer spending on medical services and delay equipment
upgrades. Reimbursement policies of insurance providers also influence what
treatments they will cover. New alternative treatment methods may capture some
of the market.
Key Takeaways
The Global
Physiotherapy Equipment Market Size expected to witness high growth over the
forecast period of 2024 to 2031 supported by increasing geriatric population,
rising incidence of chronic conditions, and benefits of non-invasive treatment
methods. The market size for 2024 is estimated at US$ 28.41 billion.
Regional analysis: North America holds the largest share of the
physiotherapy equipment market currently due to advanced healthcare
infrastructure and widespread adoption of new technologies. However, Asia
Pacific region is predicted to experience the fastest growth during the forecast
period as healthcare spending increases across developing nations.
Key players: Key players operating in the physiotherapy equipment
market are Abbott Laboratories, Agilent Technologies, Affymetrix Inc., Beckman
Coulter, Inc., Illumina Incorporated, Life Technologies Corporation, Randox
Laboratories Ltd., Surfix B.V, GE Healthcare, F. Hoffmann-La Roche Ltd, and
AYOXXA Biosystems GmbH. These companies offer a variety of equipment for
different treatment applications.
Get More Insights Here
https://www.newsanalyticspro.com/physiotherapy-equipment-market-size-share-growth-outlook-2023/
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