The global physiotherapy equipment market is poised for remarkable expansion, projected to surge from US$19.50 billion in 2022 to a substantial US$35.92 billion by 2032, representing a robust Compound Annual Growth Rate (CAGR) of 6.3% during the forecast period, according to Spherical Insights & Consulting. This surge underscores the increasing importance of physiotherapy in healthcare and the burgeoning demand for specialized equipment tailored to diverse patient needs.
Physiotherapy equipment encompasses a diverse array of tools utilized by physiotherapists to assess, treat, and rehabilitate patients grappling with musculoskeletal and neurological conditions. From electrotherapy devices like TENS and ultrasound to therapeutic exercise tools such as resistance bands and balance boards, these instruments play a pivotal role in promoting patients' overall well-being and aiding their journey to recovery. Technological advancements have ushered in innovative devices like robotic exoskeletons and virtual reality systems, elevating treatment efficacy and expanding options for patients.
Ultrasound devices lead growth, musculoskeletal segment dominates application
Among the various segments, ultrasound devices are poised for significant growth, with a projected CAGR of around 6.7% during the forecast period. The widespread application and advantages of ultrasound, including pain relief, tissue healing, and inflammation reduction, position it as a preferred choice for physiotherapists. Furthermore, advancements in ultrasound technology, notably the development of portable and handheld devices, enhance accessibility and convenience for practitioners, further fueling market growth.
In terms of application, the musculoskeletal segment dominates the market, contributing over 58.3% of revenue in 2022. This dominance is attributable to the segment's widespread application in addressing various musculoskeletal disorders and injuries. Physiotherapy equipment such as exercise devices, resistance bands, and mobility tools play a crucial role in promoting recovery, increasing mobility, and alleviating pain for patients grappling with conditions like arthritis, back pain, and sports injuries.
Regionally, Asia-Pacific is poised to experience substantial growth, with a forecasted CAGR of around 6.4% over the projected period. Factors such as a large and aging population, coupled with a rising prevalence of musculoskeletal and neurological conditions, are driving demand for physiotherapy treatments in the region. Additionally, increasing healthcare investments, improving infrastructure, and growing disposable incomes in emerging economies contribute to market expansion.
Geriatric physiotherapy market is posed for growth
Interestingly, while the non-geriatric segment currently holds the largest market share, accounting for more than 54.8% of revenue in 2022, the geriatric segment is poised for significant growth. With a burgeoning aging population worldwide, coupled with a growing awareness of the importance of regular physical activity for seniors, the demand for specialized physiotherapy equipment tailored to the needs of the elderly is on the rise.
One notable segment within the geriatric category experiencing substantial growth is elderly recumbent exercise bikes. These stationary bikes provide a low-impact cardiovascular workout tailored to older individuals, offering a safe and comfortable exercise option for those with mobility issues or joint pain. Market growth is propelled by the increasing geriatric population and rising awareness of the importance of physical activity for seniors, particularly amidst the prevalence of chronic diseases.
In conclusion, the global physiotherapy equipment market is poised for significant expansion, driven by technological advancements, increasing healthcare investments, and a growing aging population. With the geriatric segment set to drive substantial growth, particularly in specialized equipment tailored to the needs of the elderly, the market presents promising opportunities for manufacturers and healthcare providers alike.
Source: Spherical Insights & Consulting
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