April 15, 2024
Physiotherapy Equipment Market

Physiotherapy Equipment Market is Estimated to Witness High Growth Owing to Advancements in Digital and Robotic Technologies

Physiotherapy equipment includes medical devices, accessories and software used for treating various physical disabilities and injuries through physical exercises and techniques without the use of drugs or surgery. The growing prevalence of various chronic diseases and disorders such as cardiovascular disorders, cancer, neurological disorders amongst others requiring physiotherapy sessions is driving the demand for physiotherapy equipment. Advancements in digital and robotic technologies are enabling new types of equipment to be developed for more effective treatment and better patient outcomes.

The Global Physiotherapy Equipment Market is estimated to be valued at US$ 28.41 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Global Physiotherapy Equipment Market Size 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. The growing geriatric population and rising awareness about physical therapy are providing new growth opportunities in the market. Advancements in robotics and artificial intelligence technologies are enabling new equipment with automated functions to be developed for physiotherapy.

Market drivers

The increasing prevalence of chronic diseases and conditions globally is a major driver for the physiotherapy equipment market. Physiotherapy plays a vital role in effectively managing diseases such as arthritis, cardiac disorders, obesity and diabetes through physical exercises and techniques. With growing disease burden, the demand for associated treatment and rehabilitation equipment from physiotherapy centers and hospitals is increasing significantly. Other factors such as rising healthcare spending, growing focus on physical fitness and well-being, and availability of reimbursement policies are also fueling the adoption of physiotherapy equipment in the market.

Current Challenges in Physiotherapy Equipment Market

The physiotherapy equipment market is facing challenges due to the COVID-19 pandemic. Several physiotherapy centers and clinics have been shut down during lockdowns imposed across various countries to curb the spread of the virus. This has negatively impacted the demand for various physiotherapy equipment. Furthermore, cancelled non-emergency surgeries and deferred elective procedures have reduced the number of patients requiring post-operative physiotherapy. Chronic disease management has also been disrupted during this period. On the supply side, manufacturing and material sourcing were affected due to restrictions on travel and transportation. Cost-cutting and cash flow management have become priorities for many organizations operating in this industry. Telehealth and remote patient monitoring have emerged as opportunities but require investments in technology upgrades and training of physiotherapists.

SWOT Analysis

Strength: Growing geriatric population and prevalence of chronic diseases increases the need for physiotherapy. Equipment provides accurate, customized treatment programs to aid recovery.

Weakness: Many therapies still rely on manual techniques, limiting scale. High equipment costs restrict access for some patients and healthcare providers.

Opportunity: Developing economies represent expanding markets as accessibility and recognization of physiotherapy rise. Digital technologies enable remote monitoring and virtual sessions.

Threats: Economic slowdowns could delay capital expenditures. Competition from substitute treatments like yoga and generic exercise programs. Regulations on new product approvals are stringent in some regions.

Geographical Regions with Highest Market Concentration

North America accounts for the largest share of the global physiotherapy equipment market, both in terms of value and volume. This can be attributed to the rising geriatric population, growing obesity and chronic disease rates, and favorable reimbursement policies in countries like the United States. Asia Pacific is expected to register the fastest growth during the forecast period due to improving access to healthcare facilities, infrastructure developments, and increasing affordability of physiotherapy services across emerging nations.

Fastest Growing Geographical Region

Asia Pacific region is poised to grow at the fastest rate for the physiotherapy equipment market from 2024 to 2030. Rapid economic development, rising health awareness, expansion of private healthcare organizations, and government efforts to strengthen primary care are boosting the uptake of physiotherapy in Asia Pacific countries like China, India and Japan. Furthermore, aging demographics, growing prevalence of sports injuries and lifestyle diseases will augment the need for advanced physiotherapy treatment and different types of equipment in the Asia Pacific region.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it