Summary

The physiotherapy equipment market is expected to register a CAGR of 7.2% during the forecast period.

The COVID-19 pandemic has caused major destruction in the delivery of the healthcare routine across the world. Furthermore, COVID-19 has posed limitations for many patients to access standard health services, such as visits to healthcare professionals, medications, diagnosis, and attendance at cardiac rehabilitation. It has adversely impacted the ability of patients and practitioners to adhere to treatment guidelines. Moreover, the number of surgeries has come down during the lockdown, decreasing the post-surgery rehab physiotherapy, which has impacted the market growth.

The increasing incidences of cardiovascular disorders and neurological disorders and the growing geriatric population have stimulated the demand for physiotherapy equipment across the world. According to World Population Ageing 2019 (United Nations, 2019), the world’s older population continues to grow at an unprecedented rate. There were about 703 million population aged 65 years or over in the world in 2019. These numbers of old people are projected to double to 1.5 billion by 2050. Worldwide, the share of the older population over 65 increased from 6% in 1990 to 9% in 2019. As the number of the older population is increasing, the population is prone to orthopedic disorders, which is expected to drive the market in the future.

As per the 2020 updates of WHO, ischemic heart disease was responsible for 16% of the world’s total deaths. Since 2000, the most significant increase in fatalities has been for ischemic heart disease, rising by more than 2 million to 8.9 million deaths in 2019.​ In 2019, the International Osteoporosis Foundation also suggested that by the end of 2025, there may be a 33.9 million population in Europe with osteoporosis, an increase of 23% from 26.5 million in 2010. The study also suggested that more than 50% of all osteoporotic hip fractures may occur in Asia by 2050. Thus, the increasing prevalence of orthopedic diseases increases the demand for rehabilitation services. Moreover, neurological disorders contribute significantly to the global morbidity and mortality rate, worldwide, with stroke being a leading cause of death.

The other factor leading to the growth of the market includes healthcare reforms and increasing the quality of care in developing regions and an increase in demand for rehabilitation after surgeries, chemotherapy, and radiation.

Key Market Trends

The Musculoskeletal Segment is Expected to Witness Better Growth in the Forecast Period

Lockdowns, worldwide, have influenced the physiotherapy profession in every way, with nearly half of physical activity has fallen across the world. The forced closure of private musculoskeletal clinics and physiotherapy departments in hospitals has seen an uptake in telehealth demand for physiotherapy services.

The musculoskeletal segment was estimated to be the most profitable segment, and it is expected to retain its position during the forecast period. An increase in the prevalence of musculoskeletal disorders, due to the rising geriatric population and lifestyle diseases, are primary drivers of the segment.

As per the WHO estimates, in 2021, approximately 1.71 billion people have musculoskeletal conditions, worldwide. Among musculoskeletal disorders, low back pain causes the highest burden, with a prevalence of 568 million people. Furthermore, common musculoskeletal disorders, like lower back pain, are the most common reasons for patients visiting physiotherapists, which is expected to drive the market growth.

North America is Expected to Lead the Physiotherapy Equipment Market During the Forecast Period

The United States accounts for the major market share in the North American physiotherapy market and is also expected to continue with a similar trend, during the forecast period. The demographics of the region favor a sustained growth in the number of patients seeking or requiring rehabilitation services. An increasing number of people, who engage in fitness regimens and sports, coupled with the rising number of patients with cardiovascular, neurological and orthopedic, and MSD conditions have driven the market for physiotherapy equipment in the country. Furthermore, Musculoskeletal conditions are also one of the most disabling and expensive conditions in the United States. Spine and back-related disorders hold a significant share among musculoskeletal problems. As per a 2017 survey conducted in the United States by the National Centre for Health Statistics, pain from any muscle, joint, or bone was reported by 52.1% among people aged 18 years and older, and lower back pain was the most common, affecting 28.6% of the people.

The market for physiotherapy equipment is increasing in the country with an increase in the number of physiotherapists. The physical therapy profession is widely accepted and liked by the people which is augmenting rise in the number of physiotherapists. As per the World Confederation for Physical Therapy, around 217,619 physical therapists were there in the United States during the year 2019. Among those, 65% were females.

Competitive Landscape

The physiotherapy equipment market is moderately competitive with few major players. The development of equipment with enhanced capabilities and partnerships with local distributors for geographical expansion is a strategy of the market players. Furthermore, there is an ongoing trend of rapid consolidation, with several major players being involved in merger and acquisition activities. The major players in the market include BTL Industries, DJO Global, EMS Physio, Zynex Medical Inc., Enraf-Nonius BV, and Patterson Medical, among others.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

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