(PharmaNewsWire.Com, January 09, 2018 ) The global physiotherapy devices market has been gaining a steady momentum in recent years due to a high incidence of injuries and ailments. Lifestyle changes, poor habits, and availability of physiotherapy services has boosted market growth in the past few years. On the other hand, the increasing participation in sporting activities has also had a positive impact in the overall market. According to the research report, the global physiotherapy devices market is likely to be worth US$2,838.9 mn by the end of 2025 from US$1,686.1 mn in 2016. During the forecast period of 2017 and 2025, the global market is expected to surge at a CAGR of 6.1%
Based on product type, the global physiotherapy devices market is classified into equipment, kit and accessories. The equipment segment is estimated to claim the largest market share in 2016 followed by accessories and kit segments. On the other hand, the accessories segment is anticipated to witness higher growth compared to equipment and kit segments during the forecast period. The kit segment is minor contributor in this market. High price makes the equipment segment as the leading contributor in the global physiotherapy device market. Whereas rising awareness of the accessories among non-medical professionals is a potential reason for higher growth of the same segment in the forecast period.
Electrotherapy Emerges as Popular Equipment for Treating Ailments
The global physiotherapy devices market by equipment type has been segmented as hydrotherapy equipment, electrotherapy equipment, heat & cold therapy equipment and others. Among these four segments, electrotherapy segments holds the highest market share, significant market attractiveness, and exhibits highest growth rate in the forecast period. Easy availability, low price, and efficiency in pain reduction are the major factor for which electrotherapy equipment segment becomes a leading contributor in the market.
The application segment of the global physiotherapy devices market has been categorized as musculoskeletal, neurological, cardiovascular and others. The neurological segment claims the highest market share and noteworthy market attractiveness and exhibits highest growth rate in the forecast period followed by musculoskeletal, cardiovascular and others segments. The worldwide alarming rate of stroke and the rising prevalence of paralysis of the stroke patients are the key reasons for which neurological sector leads the total global market by application.
By end user type, the global physiotherapy devices market is segmented into hospitals, physiotherapy clinics, rehabilitation centers, and others. Hospital and physiotherapy clinics segments claim the major share and show remarkable market attractiveness but the physiotherapy clinics segment represents higher growth rate (compared to hospital segment) in the forecast period. The availability of trained professionals, less-costly healthcare facilities, and effective results are the key drivers for the growth of the physiotherapy clinics segment.
North America to Lead Global Market due to Higher Awareness
Geographically, the global physiotherapy devices market is categorized into the North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The North America market holds the highest market share in 2016 and shows a potential market attractiveness but the Asia Pacific market represents a promising growth rate in the forecast period. The awareness of physiotherapy treatment, availability of trained professionals, and affordability of expensive devices are the key factors for making the North America region as the leading contributor in the market. On the other hand, the larger population pool and the growing awareness may be the prospective reasons for the Asia Pacific market for being a promising market in forecast period.
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