(USA, NY, New York City) According to Market Research Future (MRFR), the global physical therapy equipment market is expected to acquire a market value of USD 19,100 million, expanding at a CAGR of 6.21% during the assessment period from 2019-2025.
The increase in the incidence of degenerative joint disorders is expected to be salient factors that can boost the physical therapy equipment market 2020. The rise in cerebrovascular diseases is projected to enhance the demand for advanced medical equipment that can attribute to market expansion. The growing application of physical therapy in hospitals and clinics can actuate the demand for efficient therapeutic equipment that can support market expansion. Furthermore, rise in sports and fitness activities is expected to increase the injuries cases, which is predicted to enhance the requirement of therapeutic exercise equipment that can augment the market.
On the other hand, lack of expertise is anticipated to hamper the market expansion during the evaluation period. However, the rising geriatric population and prevalence of orthopedic ailments are anticipated to counter the obstructing cause that can underpin the market for physiotherapy.
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The segmental analysis of the global physical therapy equipment market is done by application, end-user, and product.
The application-based segments of the global physical therapy equipment market are musculoskeletal applications, cardiovascular & pulmonary applications, gynecological applications, neurological applications, and others. Among all, the musculoskeletal applications segment is anticipated to dominate the global market due to the rising incidents of musculoskeletal disorders.
The end-user-based segments of the global physical therapy equipment market are hospitals and clinics, physiotherapy centers, and home care settings. Among all, the hospitals and clinics segment is anticipated to acquire the largest market share during the review period.
The product-based segments of the global physical therapy equipment market are equipment and accessories. Between the two segments, the equipment segment is predicted to dominate the market during the forecast period owing to the wide range of applications it offers.
The global market for physical therapy equipment is getting backed by the strategic developments launched by companies like Enraf-Nonius B.V (Europe), DJO Global, Inc. (US), BTL Industries (US), ITO Co. Ltd (Japan), Dynatronics Corporation (US), EMS Physio (UK), Performance Health (Subsidiary of Madison Dearborn Partners) (US), Whitehall Manufacturing (US), Zimmer Medizinsysteme GmbH (Germany), Colfax Corporation (US), Mectronic Medicale (Europe), and STORZ MEDICAL (US). These companies have plans to make moves that depend on mergers, acquisitions, collaborations, and others. Ensuring a hike in the investment for the research and development sector could boost the market as well by helping in launching innovative products. This will boost market competition as well.
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Based on the region, the global market for physical therapy equipment is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
As per the assessment, the global market is anticipated to be dominated by the Americas. The increasing healthcare expenditure is expected to be a salient factor that can drive the regional market during the assessment period. The US and Canada are projected to make notable participation in driving the regional market. Besides, the presence of advanced healthcare infrastructure is projected to boost the regional market.
Europe is expected to acquire the second largest market during the forecast period owing to the rising incidents of degenerative disorders. The UK and Germany are anticipated to grow the regional market during the assessment period. Furthermore, the increasing application of physiotherapy can augment the market in the coming period.
The APAC region is expected to be the fastest-growing market during the forecast period owing to the developing healthcare infrastructure. The growing application of physiotherapy in hospitals and clinics can further augment the market.
The MEA region is anticipated to acquire a small amount of market share during the review period owing to the presence of African countries. However, the growing awareness about physiotherapy can aid in boosting the market.
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