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The global physiotherapy market is valued at USD 17022.75 million for 2017 and is poised to reach USD 25403.64 million by 2023, at a CAGR of 6.90% during the forecast period. North America holds the largest geographical market, which is currently valued at USD 6874.64 million in 2017, and is expected to grow with a CAGR of 6.91%.
Rising numbers of cardiovascular and neurological disorders is booming the physiotherapy equipment market
The global physiotherapy equipment market has witnessed an impressive growth in the recent times. The increasing incidences of the cardiovascular as well as neurological disorders has stimulated the demand for physiotherapy equipment across the world. Approximately 84 million people in this country suffer from some form of cardiovascular diseases, which causes around 2,200 deaths a day. On the other hand, neurological diseases contribute just as significantly to the global morbidity and mortality rate worldwide, with stroke a leading cause of death. Some of the factors such as the rising prevalence of cardiovascular, musculoskeletal, and neurological diseases coupled with the increasing elderly population enable this market to grow at a rate of more than 6% by 2019. However the rising incidences of the cardiovascular and neurological disorders is expected to further fuel the growth of physiotherapy market in the forecasted period.
Hence, the rapid increase in the aging population, growing number of the sports injuries, increasing obesity among people, and growing awareness regarding the therapeutic application of physiotherapy are also adding to the growth of this market significantly.
Yoga as an alternative therapy
Another modern age techniques which are under much discussion for the pain alleviation is the yoga where people with various kinds of musculoskeletal disorders have admitted to chronic pain relief with the yoga treatment. These alternative therapies combined together can act as a challenge to the growing Physiotherapy market in the forecast period. Including yoga in daily life by many of the patients has created an opportunity for this market.
However, lack of sufficient reimbursement policies for physiotherapy especially in developing countries, will be a longstanding challenge to rapid growth of the physiotherapy equipment market.
Asia Pacific to Report Fastest Growth in Global Physiotherapy Equipment Market
Asia Pacific has been projected to register the fastest growth among all the regional markets due to rising geriatric population and substantial percentage of neurological diseases China and Japan which are likely to fuel the demand for physiotherapy equipment market. North America will continue to dominate the market for physiotherapy equipment. Favorable government initiatives is another important driver expected to accelerate the market growth in this region. In addition North America and European market will also expand in the coming years.
Key Developments in the Market
April, 2017: Dynatronics Completes Acquisition of Hausmann Industries, a manufacturer of branded, high quality physical therapy and athletic training products
August, 2016: Patterson Medical has acquired Performance Health
November, 2017: DJO Global Launches New UltraSling Quadrant Shoulder Orthosis
Key players are PATTERSON MEDICAL, DJO GLOBAL, ENRAFNONIUS, BTL INDUSTRIES, EMS PHYSIO, ISOKINETIC Inc.
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Current and future global physiotherapy equipment market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter's five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
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Original Article: Global Physiotherapy Equipment Market Segmented by Equipment, by Accessories, by Application, by EndUsers and Geography Growth, Trends and Forecasts 2018 2023 [Report Updated: 08022018] Prices from USD $4250NEXT ARTICLE
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