The global physical therapy equipment market is all set to score more than USD 19100 million by 2025, with a possible charting of 6.21% CAGR during the forecast period of 2019 to 2025. Market Research Future (MRFR) included several factors like rising cases of orthopedic disorders, various sports injuries, increasing awareness regarding physical therapy instruments, hike in investment for the research and development sector, the surge in support from private and government institutions, increasing involvement of government schemes through various schemes for rehabilitation projects, mergers and acquisitions, and others.
MRFR’s assessment of the physical therapy equipment market relies on a segmentation that includes the product, application, and end users. This helps in getting deeper into the market and getting insights from several important factors that would help in boosting the market growth.
By product, the global market for physical therapy equipment has been segmented into equipment and accessories. The equipment segment has the largest market share and the accessories segment is predicted to register the fastest growth during the forecast period.
By application, the global study involving the physical therapy equipment market has been segmented into musculoskeletal applications, neurological applications, pediatric applications, cardiovascular & pulmonary applications, gynecological applications, and others. The musculoskeletal applications segment has the maximum market coverage, whereas the neurological applications would be the fastest-growing market.
By end users, the market has been segmented into hospitals & clinics, physiotherapy centers, and home care settings. The hospitals & clinics segment has the largest market share and the physiotherapy center segment is about to become the fastest-growing.
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.
In 2020, the outbreak of the COVID-19 pandemic has changed the market scenario of a lot of sectors. The healthcare segment has been affected particularly. Some segments witnessed the growth and some dealt huge blows. The physical therapy segment belongs to the latter group. This segment is known for physical contact as a part of the treatment. With hospitals full of COVID-19 patients, doctors are trying to avoid getting people admitted for physical therapy sessions as this would increase the chances of these patients contracting the disease. It has directly affected the physical therapy equipment market as the intake of the machines has either been postponed or canceled. However, the market would gain a rapid surge in terms of profits once the lockdown gets lifted and the normal life gets restored.