FOR IMMEDIATE RELEASE
PRFree.Org (Press Release) Aug 10, 2018
-- The physiotherapy equipment market is expected to grow at a single–digit CAGR of 6.8% to reach $19,786.3 million by 2019 from $14,240.0 million in 2014. Major factors fueling growth of this market are rapidly aging population, increasing inclination towards active lifestyles, and government support in the form of incentives. However, lack of skilled physiotherapists, high maintenance expenses, and stringent regulations are restricting the growth of the market.
The market is segmented on the basis of products (equipment and accessories), applications (cardiovascular and pulmonary, musculoskeletal, neurology, pediatric, and others), end users (hospitals, clinics, and others), and geographies (North America, Europe, Asia-Pacific, RoW).
The physiotherapy equipment market, by application is segmented into cardiovascular and pulmonary, musculoskeletal, neurology, pediatric, and others (sports, women health, and palliative care). Musculoskeletal is the largest and fastest-growing segment of the market. The high growth rate of this segment can be attributed to growing incidences of cardiovascular diseases, neurological disorders, and rising number of injuries and accidents.
The market, by end user is categorized into hospitals, clinics, and others (home health centers, schools, and rehabilitation centers). Hospitals are the key end users for physiotherapy equipment.
Geographically, the market is dominated by North America, followed by Europe. However, Asia-Pacific region is expected to grow at the highest CAGR of 8.4% during the forecast period.
Growth of this market is propelled by the rising number of elderly populationand growing incidences of cardiovascular diseases and neurological disorders. The market is further driven by factors such as favorable healthcare reforms, high employment rate, and population inclination towards active lifestyles. High growth potential in emerging markets and evolution of portable physiotherapy devices provide new growth opportunities to players in the market. However, unfavorable reimbursement scenario, dearth of trained and skilled physiotherapists, and high maintenance costs of physiotherapy equipment are the key factors that are limiting growth of this market. In addition, stringent and time-consuming regulations are the key market challenges.
On the basis of applications, the physiotherapy equipment market is broadly classified into cardiovascular and pulmonary, musculoskeletal, neurology, pediatric, and others (sports, women health, and palliative care). Musculoskeletal is the largest and fastest-growing segment of the physiotherapy equipment market, byapplication. The large share of this market can be attributed to growing incidences of cardiovascular problems, neurological disorders, and growing number of injuries and accidents.
Based on end users, the physiotherapy equipment market is segmentedinto hospitals, clinics, and others (home health centers, schools, and rehabilitation centers). Hospitals account for the major end-users segment of the physiotherapy equipment market in 2014.
On the basis of geography, the physiotherapy equipment market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).In 2014, North America is expected to account for the largest share ofthe physiotherapy equipment market, followed by Europe. Both these markets are estimated to register single-digit growth rates over the next five years. However, Asia-Pacificis expected to register a higher growth rate during the forecast period, owing to huge investment opportunities and developing healthcare infrastructure in this region. Growth of the physiotherapy equipment market in the Asia-Pacific region will revolve aroundChina, India, Australia, New Zealand, and countries in the Middle East.
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Key players operating in the physiotherapy equipment market are BTL Industries (Czech Republic), DJO Global (U.S.), Enraf-Nonius (Netherlands), EMS Physio (U.K.), Isokinetic, Inc. (U.S.), and Patterson Medical (U.K.).
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