Transparency Market Research observes that DJO Global, EMS Physio Ltd., BTL, Dynatronics Corporation, Enraf-Nonius, and Patterson Medical Ltd. are some of the leading players in the global physiotherapy devices market. As the global market faces tough competitive due to the presence of several local players, vendors are focusing on product differentiation. Offering the best possible products at affordable pricing is expected to help the companies enter untapped markets the coming years. Furthermore, international players are expected to lay emphasis on mergers and acquisitions in order to broaden their revenue-earning opportunities.
According to Transparency Market Research, The Global Physiotherapy Devices Market was valued at US$1,686.1 mn in 2016 and is expected to reach US$2,838.9 mn by the end of 2025. During the forecast period of 2017 and 2025, the global market is expected to rise at a CAGR of 6.1%. Out of the various equipment available in the global market, the demand for electrotherapy equipment is likely to be the highest in the coming years. From a regional point of view, North America is expected to lead the global market due to growing number of physiotherapy centers and increasing awareness in the region.
High Incidence of Injuries Boosts Uptake of Physiotherapy Devices Market
Physiotherapy, is an effective healthcare treatment which helps to alleviate disability, reduce pain, restore mobility, and revive normal function. Physiotherapy often uses mechanical forces, electrotherapy, hydrotherapy, and manual forces for treating the patients. An efficient diagnosis can save the patient from a long-term ailment or a disability. Physiotherapy is predominantly used for improving the quality of life and ensuring that the patient continues to live a normal life after an injury.
Thus, physiotherapy treatment is recommended to restore the normal lifestyle for those patients who are suffering from physical immobility, and other neurological diseases. The global physiotherapy market is driven by several factors such as growing geriatric population, rising prevalence of several neurological, musculoskeletal diseases and technological advancements.
The increasing participation in sporting activities has alarmingly raised the number of injuries. To recover from sports injuries several players have to opt for physiotherapy to regain their muscle strength. Initiation of various sporting events around the world along emphasis on sports in various schools has prompted the market for physiotherapy devices. Many a time, pregnant women are also prescribed physiotherapy in order to ensure normal growth of the fetus. Thus, rise in the number of pregnancies has also spiked the demand for physiotherapy devices.
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Lack of Skilled Physiotherapists Likely to Hamper Market Growth
On the other hand, the global market faces some tough challenges. The lack of skilled physiotherapists is one the greatest restraint for the global market. Lack of confidence in a physiotherapist or no availability of a physiotherapist dissuades several patients from treatment. Furthermore, the high cost of equipment discourages several therapists from investing in technologically advanced devices, thereby challenging market growth. Furthermore, the poor reimbursement policies, especially in the developing parts of the world has also been identified as a restraint for the overall market in recent years.
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