Growth in physiotherapy equipment market is driven by rapidly growing geriatric population and the subsequent increase in the global prevalence of chronic diseases, and growing incidence of sports injuries, degenerative joint disorders, and cerebrovascular disease.
According to the new market research report “Physiotherapy Equipment Market by Product (Laser Therapy, Ultrasound, Cryotherapy, Electrotherapy, and Accessories), Application (Musculoskeletal, Gynecology, Pediatric, Cardiovascular), and Region – Global Forecast to 2024”, published by MarketsandMarkets™, the Physiotherapy Equipment Market is projected to reach USD 21.1 billion by 2024 from US 15.0 billion in 2018, at a CAGR of 5.8%.
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The electrotherapy equipment segment is projected to occupy the majority of the market share during the forecast period.
The electrotherapy equipment segment is projected to hold the largest share of the market, during the forecast period. The large share of the segment is primarily attributed to the by rapid adoption electrical stimulation-based techniques in rehabilitation. It includes techniques, such as Transcutaneous Electrical Nerve Stimulation, Functional Neuromuscular Stimulation, H-wave Stimulation, Neuromuscular Electrical Stimulation, Interferential Stimulation, Microcurrent Stimulation, Galvanic Stimulation, Sympathetic Therapy, Peripheral Subcutaneous Field Stimulation, Peroneal Nerve Stimulation, and Auricular Stimulation (P-stim).
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In 2018, Europe accounted for the largest share of the market.
The physiotherapy equipment market is predominantly divided into four major geographies, namely, North America, Europe, Asia Pacific, and the Rest of the World. Europe accounted for the largest share of this market, followed by North America. The major drivers for the growth of this market are the rising geriatric population, increasing inclination for active lifestyles, the penetration of physiotherapy services, and favorable healthcare reforms. However, an uncertain reimbursement scenario and the need for reforms in physiotherapy educational practices are hindering the growth of this market.
Major vendors in the physiotherapy equipment market include DJO Global (US), Performance Health (US), BTL Industries (US), and EMS Physio (UK).