Physiotherapy Devices Market to Generate Revenue of US$2,838.9 Million by 2025, Says TMR
ALBANY, New York, May 17, 2019 /PRNewswire/ --The global physiotherapy devices market will reach US$2,838.9 mn in evaluation by 2025 end. The market was worth US$1,686.1 mn in 2016 and is likely to grow at 6.1% CAGR during 2017-2025. High incidents of injuries and ailments are expected to drive the significant growth during the forecast period. Among various product segments in the physiotherapy devices market, the equipment segment is expected to register the highest growth. Additionally, region wise, North America is expected to witness the highest growth. The large presence of established manufacturers and growing emphasis on innovations are expected to drive the physiotherapy devices market in North America.
The global physiotherapy devices market is witnessing a large investment in research and development. The development is resulting in some major breakthroughs with growth in FDA approvals. Among these are bionic exoskeletons which can help rehabilitating patients and the elderly to protect the body and support quick and reliable mobility. Similarly, children with cerebral palsy can also be helped with robotic assisted walkers. This help can provide them with the much needed help with severe motor problems. The growing focus on assisting children with special needs and increasing integration of technology in daily lives can be a boon for the physiotherapy devices market.
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Growing Cancer Treatments Drives Growth in the Physiotherapy Devices Market
Various types of cancers are on the rise. Additionally, according to Centers for Disease Control and Prevention, many cancer patients survive for at least five years after the diagnosis. Additionally, growing effectiveness of chemotherapy and early diagnosis of cancer are leading to higher rates of survival for many patients. However, a 2012 study in UK found that over 1.6 million cancer survivors were not active at recommended levels. Moreover, physiotherapy can alleviate symptoms such as fatigue and lymphedema. Physiotherapy can also reduce mortality rates in cancer patients by as much as 50% for chronic cancers like bowel cancer. Furthermore, regular exercise can help cancer patients minimize muscle loss, an important precursor to successful treatments. Hence, the rising growth in cancers, factors such as unhealthy eating habits, and growing awareness about physiotherapy are expected to drive the global physiotherapy devices market in the near future.
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On the other hand, high costs of these devices may limit the growth of the physiotherapy devices market. However, growth in hand-held devices and increasingly favorable reimbursement policies are expected to result in significant growth for the physiotherapy devices market.
Rising Injuries to Propel the Physiotherapy Devices Market
According to the World Health Organization, nearly 1.35 million people die in accidents every year. Additionally, road accidents cost most countries approximately 3% of their GDP each year. Moreover, rising interest in sports and adventure activities like mountaineering, paragliding, and hiking are also on the rise. Each year, over 10 million Americans are injured during sport activities. While most of these can heal over time, all of them can be helped with small and portable physiotherapy devices. The growth in advanced technology such as bionic exoskeletons, robotic arms, and nano materials are likely to provide a major boost to the physiotherapy devices market in the near future.
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The physiotherapy devices market is witnessing a robust growth in recent times, due to growing chronic illnesses like cancer and rise in reported road accidents. The market depicts a fragmented landscape with increasing number of small players entering the market in emerging regions, reports Transparency Market Research (TMR). Additionally, the lax regulations in emerging markets, and low capital costs are expected to increase the competitiveness of the physiotherapy devices market in the near future. Some key players in the global physiotherapy devices market are BTL, DJO Global, Patterson Medical Ltd., EMS Physio Ltd., Enraf-Nonius, Ossur, Dynatronics Corporation, A. Alego Limited, and HMS Medicals Systems.
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This information is encompassed in the new report by TMR, titled "Physiotherapy Devices Market (Product Type - Equipment (Hydrotherapy Equipment, Electrotherapy Equipment, and Heat & Cold Therapy Equipment), Kit, Accessories (Orthoses and Assistive Devices); Application - Musculoskeletal, Neurology, Cardiovascular, and Others; End User - Hospital, Physiotherapy Clinic, Rehabilitation Center, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025."
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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