Global physiotherapy equipment market size is expected to reach USD 24.7 billion by 2022, according to a new study by Grand View Research Inc. Growing prevalence of neurological and musculoskeletal disorders are expected to drive the physiotherapy equipment market over the forecast period. The presence of efficient and effective therapies such as ultrasound and cryotherapy, advancement in the technologies coupled with implementation of favorable government policies is expected to significantly contribute towards expedited market growth. In 2014, musculoskeletal was the largest application segment with revenue estimated at over USD 8.0 billion. However, neurology is expected to witness rapid growth owing to the growing prevalence of Parkinson’s disease, epilepsy and autism in the U.S. and China.
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Further key findings from the study suggest:
- Ultrasound was the largest physiotherapy segment of the market in 2014 and is expected to witness a lucrative growth of over 8.0% over the forecast period. The fact that it is the most common therapy for the management of soft tissue lesions which constitutes one of the causes for rheumatic complaints and renders reduction in the healing time of soft tissue injuries is expected to drive growth.
- Hospitals dominated the end-use market owing to, presence of high patient volume and the supportive infrastructure. On the other hand, the home based treatment is expected to spearhead the growth of the other facilities segment during the forecast period. Cost effectiveness associated with this treatment facility is likely to drive segment growth.
- North America dominated the market in 2014, with revenue estimated at USD 5.74 billion. Increasing baby boomer population, presence of favorable government policies and sophisticated healthcare infrastructure are some key drivers of this market.
- Asia Pacific is expected to witness substantial growth during the forecast period owing to rising population, high investment opportunities and developing healthcare infrastructure. Japan was the largest Asia Pacific market in 2014. By 2025, Japan is anticipated to have over 36% of its population over the age of 60 along with being one of the largest economies in terms of healthcare providers. Health insurance coverage for physiotherapy treatments and services is expected to spur market expansion. According to the Japanese National Health Insurance, over 90% of the cost for homecare services and devices is reimbursed promoting higher spending by patients.
- Key players of the physiotherapy equipment market include DJO Global, Patterson Medical, Isokinetics Inc., EMS Physio and BTL Industries.
For the purpose of this study, Grand View Research has segmented the physiotherapy equipment market on the basis of prodcts:
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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