According to FutureWise analysis the market for Physiotherapy Equipment in 2023 is US$ 19.54 billion, and is expected to reach US$ 31.67 billion by 2031 at a CAGR of 6.20%.
Technological innovations and advancements by key market players are predicted to increase the demand for the product, thus stimulating global market growth. Mobile apps like PTGenie, are now designed to aid patients in implementing their Home Exercise Programs (HEPs). In February 2016, BioGaming, an Israel-based company, received the FDA approval for its physical therapy system based on YuGo Microsoft Kinect.
Electric stimulation segment held a significant market share. The therapy is used to help increase the functionality of muscles and improve the circulation of blood in the affected areas. Electrical stimulation therapy is primarily used for rehabilitating neurological disorders like cerebral palsy, Parkinson’s disease, stroke and multiple sclerosis. Various types of electrical stimulations are Russian stimulation, high voltage stimulation Transcutaneous Electrical Nerve Stimulation (TENS), Inferential Current (IFC) and neuromuscular electrical stimulation.
Moreover, supportive initiatives by governments regarding conjoint programs with the physiotherapy societies is one of the integral factors projected to spur global market growth during the forecast period. U.K., France and Germany lead the European region by accounting a significant industry share. The Glasgow Caledonian University announced the Caledonian Clinic in January 2015 that offers specialist healthcare services and advice to students and staff. It offers physiotherapy related service like manipulative therapy, acupuncture and remedial massages for athletes. The Asia Pacific region is predicted to exhibit the fastest market growth in upcoming years owing to many untapped opportunities, rising patient awareness levels consistent improvements in healthcare infrastructure and economic development.