Physiotherapy Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Physiotherapy Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The physiotherapy equipment market is expected to register a CAGR of 7.2% during the forecast period (2022-2027).

The COVID-19 pandemic has caused major destruction in the delivery of the healthcare routine across the world. Furthermore, COVID-19 has posed limitations for many patients to access standard health services, such as visits to healthcare professionals, medications, diagnosis, and attendance at cardiac rehabilitation. It has adversely impacted the ability of patients and practitioners to adhere to treatment guidelines. According to a study titled "The vital role of physiotherapy during COVID-19: A systematic review" published in the National Library of Medicine in November 2021, Physiotherapy treatments aid in healing and serve as a barrier for COVID-19 patients. Additional outcomes include a shorter period of stay in intensive care and lower treatment costs, as this outbreak has placed a heavy financial load on many nations. due to post-covid symptoms include joint and body pains physiotherapy practices rise. Moreover, the number of surgeries has come down during the lockdown, decreasing the post-surgery rehab physiotherapy, which has impacted the market growth.

The increasing incidences of cardiovascular disorders and neurological disorders and the growing geriatric population have stimulated the demand for physiotherapy equipment across the world. According to the World Health Organization Facts of 2021, the proportion of the global population aged 60 and up will nearly double from 12% to 22% between 2015 and 2050. By 2050, 80% of the world's elderly will live in low- and middle-income countries. The population is aging at a much faster rate than in the past. Every country faces significant challenges in ensuring that its health and social systems are prepared to take advantage of this demographic shift. As the number of the older population is increasing, the population is prone to orthopedic disorders, which is expected to drive the market in the future.

The increasing burden of neurological disorders among the population is the key factor driving the demand for neurology devices over the forecast period. For instance, according to data published by the United Nations, in February 2021, In 2020, over 1 billion individuals, or roughly one in six of the world's population, has affected by neurological conditions like Alzheimer's and Parkinson's disease, strokes, multiple sclerosis, migraines which is caused by epilepsy, brain traumas, and neuroinfections. Additionally, as per the same source 24 million had Alzheimer's disease and other dementias, and 62 million had cerebrovascular illness.As long as feasible, the physiotherapy can help the dementia patient and their caregivers keep their mobility and independence by encouraging and promoting physical activity. Consequently, it is anticipated that the need for physiotherapy equipment would rise as the prevalence of neurological problems among the population rises, allowing for a quicker recovery from neurological diseases.

To increase their dominance, the market's major players frequently make product launch and acquisitions and form alliances. In April 2021, the National Office of Thermalism and Hydrotherapy (ONTH) announced the launch of the 1st mobile application on hydrotherapy "Tunisia Wellness." Additionally, in December 2020, Sunbeam, a leader in heat therapy products, launched the GoHeat Cordless Heating Pad to help relieve pain and treat sore muscles whether at home or on the go.

The other factor leading to the growth of the market includes healthcare reforms and increasing the quality of care in developing regions and an increase in demand for rehabilitation after surgeries, chemotherapy, and radiation.

Key Market TrendsThe Musculoskeletal Segment is Expected to Witness Better Growth in the Forecast Period

The musculoskeletal segment was estimated to be the most profitable segment, and it is expected to retain its position during the forecast period. An increase in the prevalence of musculoskeletal disorders, due to the rising geriatric population and lifestyle diseases, are primary drivers of the segment. As per the World Health Organization estimates, in 2021, approximately 1.71 billion people have musculoskeletal conditions, worldwide. Among musculoskeletal disorders, low back pain causes the highest burden, with a prevalence of 568 million people. Furthermore, common musculoskeletal disorders, like lower back pain, are the most common reasons for patients visiting physiotherapists, which is expected to drive the market growth.

Additionally, market participants strategically take part in partnerships and alliances to introduce new technologies into the sector, which supports the market's expansion. For instance, in September 2021, IncludeHealth announced the release of MSK-OS, a new musculoskeletal operating system that emphasizes virtual physical treatment. The latest release is a result of a partnership between Google and ProMedica Health Systems. Additionally, in March 2022, CSP worked with other professionals on the new toolkit's creation. It offers best practise clinical guidelines to promote service recovery and transformation opportunities for patients with shoulder pain, sciatica, hip and knee osteoarthritis, spinal pain, and all other MSK pathway conditions in primary and community care settings.

Thus, all aforementioned factors is expected to boost the segment growth over the forecast period.

North America is Expected to Lead the Physiotherapy Equipment Market During the Forecast Period

The United States accounts for the major market share in the North American physiotherapy market and is also expected to continue with a similar trend, during the forecast period. The demographics of the region favor a sustained growth in the number of patients seeking or requiring rehabilitation services. An increasing number of people, who engage in fitness regimens and sports, coupled with the rising number of patients with cardiovascular, neurological and orthopedic, and MSD conditions have driven the market for physiotherapy equipment in the country. According to the study titled "Prevalence and factors associated with work-related musculoskeletal disorder among health care providers working in the operation room" published in December 2021,

The market for physiotherapy equipment is increasing in the country with an increase in the number of physiotherapists. The physical therapy profession is widely accepted and liked by people which is augmenting the rise in the number of physiotherapists. As per the World Confederation for Physical Therapy, around 217,619 physical therapists were there in the United States during the year 2019. Among those, 65% were females.

Numerous acquisitions and partnerships between major players are taking place in the market to increase their dominance. For instance, in December 2021, DJO, LLC has acquired of LiteCure, the market leader in therapeutic laser technology for human and animal health.​ This purchase further extends DJO’s strength as the global market leader in recovery sciences and allows the company to deliver unparalleled innovation to its customers and their patients. Additionally, in December 2020, Sunbeam, a leader in heat therapy products, launched the GoHeat Cordless Heating Pad to help relieve pain and treat sore muscles whether at home or on the go.

Thus, all above mentioned factors expected to boost the market growth in the North America Region.

Competitive Landscape

The physiotherapy equipment market is moderately competitive with few major players. The development of equipment with enhanced capabilities and partnerships with local distributors for geographical expansion is a strategy of the market players. Furthermore, there is an ongoing trend of rapid consolidation, with several major players being involved in merger and acquisition activities. The major players in the market include BTL Industries, DJO Global, EMS Physio, Zynex Medical Inc., Enraf-Nonius BV, and Patterson Medical, among others.

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