Physical Therapy Equipment Market Overview:
As per the reports by MRFR, the global physical therapy equipment market is anticipated to register a healthy CAGR of over 6.21% during the review timeframe. The market is projected to acquire a size of approximately USD 19,100 Million by 2028.
Physical therapy equipment is particularly designed to help people refine or recapture their physical abilities. The global market for physical therapy equipment has been witnessing massive growth. The market's growth is being driven by the launch of an extraordinary technological improvement in the global product. Furthermore, the factors such as the increasing research and developmental activities, increasing investment in physical therapy equipment by leading market players, the increasing new physical therapy awareness among people, increasing incidence of sports injuries, availability of home care settings, and the increasing orthopedic diseases. However, the market growth is anticipated to be hampered by inadequate reimbursement policies and the lack of trained skilled personnel.
Competitive Analysis
The global market for physical therapy equipment has some prominent players who have offered massive efforts to strengthen the competitive landscape and grow revenues. The list of major players in the global physical therapy equipment market includes STORZ MEDICAL (US), Whitehall Manufacturing (US), Performance Health (Subsidiary of Madison Dearborn Partners) (US), EMS Physio (UK), BTL Industries (US), Dynatronics Corporation (US), Zimmer Medizinsysteme GmbH (Germany), Colfax Corporation (US), ITO Co. Ltd (Japan), Mectronic Medicale (Europe), DJO Global, Inc. (US), Enraf-NoniUS B.V (Europe), and many others.
Segment Analysis
The global Physical Therapy Equipment Market is divided into several segments based on product, application, end-users, and region.
The global market for physical therapy equipment is divided into equipment and accessories based on product.
Based on application, the global market is bifurcated into pediatric applications, cardiovascular pulmonary applications, neurological applications, gynecological applications, musculoskeletal applications, and others.
End-users bifurcate the global market into home care settings, hospitals and clinics, physiotherapy centers, etc.
Recent Developments
- November 2021- Witwer Children's Therapy has announced its plans to double the capacity of its Cedar Rapids facility, with the addition of 3,400 square feet of leased space in the hospital's expansion project that's likely to be done by the spring. The project is anticipated to cost USD275,000, which will also include the cost of new therapy equipment and furniture as per the statement by the hospital director.
- November 2021 – InventHelp's inventor has developed a new therapeutic device for shoulder therapy. The latest device is called ROLLING CUFF and is engineered to offer rehabilitation of injured shoulders or elbows to boost recovery. The device helps to increase flexibility, improve range of motion, and build muscle strength. Meanwhile, it also reduces pain and discomfort and relieves stiffness. Additionally, it is effective, convenient, and affordably priced.
Regional Analysis
The global market for physical therapy equipment is studied across five major regions: North America, South America, Europe, Asia-Pacific, and the Middle East Africa.
The North American regional market for physical therapy equipment is projected to secure the top position globally. The regional market's growth is being driven by the presence of major players in this region. Furthermore, the increasing geriatric population, growing incidence of osteoporosis globally, and the rising cases of accidents and mishaps.
The physical therapy equipment market for the Asia-Pacific region is likely to record the highest growth over the review timeframe. The performance is attributed to improving healthcare infrastructure, economic development, inclination toward active lifestyles, the rising geriatric population, and growing adoption of physiotherapy in the region.
The European regional market will witness record-worthy growth over the forecasted era. The regional market's growth is attributed to collaborative programs by government bodies with physiotherapy societies, a growing elderly population, and well-established medical infrastructure.
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