Physiotherapy Equipment Market: Growth, Size, Share, and Trends

Report Code MD 2753
Published in Nov, 2024, By MarketsandMarkets™
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Physiotherapy Equipment Market by Product (Equipment, Accessories), Application (Musculoskeletal, Neurological, Cardiovascular & Pulmonary, Pediatric & Gynecological Application), End User, Region - Global Forecast to 2029

Overview

The Physiotherapy equipment market is projected to reach USD 27.03 billion by 2029 from USD 20.13 billion in 2024, at a CAGR of 6.1 % during the forecast period. Physiotherapists employ a variety of tools and technology to treat and improve a wide range of ailments, from minor spasms to chronic pain, arthritis in old age, cancer, etc. By improving blood flow, accelerating the repair of tissues, tendons, and muscles, and/or increasing movement in restricted joints, physiotherapy equipment helps achieve that objective. Several types of physiotherapy equipment are also utilised for bodybuilding, strength training, and overall fitness in addition to their usage in the treatment of medical disorders.

There are several factors that drive the physiotherapy equipment market, including the growing adoption of physiotherapy treatments following surgery, improved accessibility due to rising per capita incomes worldwide, and a rise in chronic illnesses stemming from a larger geriatric population and sedentary lifestyles. Top players of the market continue to invest heavily in R&D to expand their product portfolios, innovate further and launch products which could be personalized to the patient's need. Development of physiotherapy devices integrated smart technologies and wearable devices are also expected to further support growth of the physiotherapy equipment market.

Attractive Opportunities in the Physiotherapy Equipment Market

Asia Pacific

The growth in the Asia Pacific region is driven by the rise in healthcare expenditure, high rise of the diabetic population and increasing obesity in the population.

Increasing prevalence of chronic diseases in the population due to sedentary lifestyles, smoking habits, and high consumption of unhealthy fats.

Government reimbursements and healthcare initiatives have expanded access to physiotherapy services for general population

Emerging markets such as China, India, Brazil, South Korea, and Australia are offering high growth opportunities for players operating in this market

North America accounted for the largest market share due to the fast adoption of advanced technologies the high incidence rate of chronic diseases, and prevalent sports culture.

Global Physiotherapy Equipment Market Dynamics

DRIVER: Growing incidence of sports injuries, degenerative joint disorders, and cerebrovascular diseases

The number of young people taking up sport has increased significantly thanks to both the tremendous growth of league competitions and increased government efforts to promote sports. This has led to increase in number of sports injuries globally. Physiotherapy devices are of primary importance in treatment of sports injuries and employs modalities like ultrasound, electrical stimulation, hot/cold therapy to manage pain and swelling. Exercise devices such as resistance bands or balance boards aid in the rehabilitation of the injured area as well as helping to build strength in that area.

An increase in sedentary lifestyle among the population coupled with ageing factors have led to an increase in people suffering from degenerative joint disorders like osteoarthritis. This has further created a demand for physiotherapy equipment to aid in the treatment of such patients. More patients are requesting early diagnoses of such conditions, seeking non-invasive options and rehabilitation after surgery.

Evolving unhealthy lifestyle habits due to rapid urbanisation globally is increasing the prevalence of cerebrovascular diseases. Prevalence of diseases such as transient ischemic attack and intracerebral hemorrhage is fast increasing due to poor diet, physical inactivity, smoking, and excessive alcohol consumption, leading to a greater need for physiotherapy.

RESTRAINT: Unstable reimbursement scenario for physiotherapy

The limitations of insurance coverage for physiotherapy services often pose challenges for numerous patients who wish to access the treatment. One of the common problems with some of the health insurance plans is that they only cover a limited number of sessions whereas it is possible that a longer course of treatment is required for full recovery. Furthermore, some patients could incur high out of pocket expenses since some policies only cover a fraction of the treatment thus making physiotherapy expensive. Pre-authorization procedures act like additional red tapes that are hard to pass which makes it challenging to access treatment.

Uneven reimbursement scenarios exists around the world. There are some countries whose health systems provides extensive benefits for physiotherapy treatments while in some countries most of the services are covered by private health insurance which creates disparities in access. Therefore, most of the patients do not receive the appropriate level of physiotherapy that they require.

 

OPPORTUNITY: Emerging Markets

Physiotherapy equipment market in emerging markets is expected to grow tremendously in coming years due to variety of factors. As their economies grow, government are increasingly focusing on providing comprehensive universal healthcare and better services to their population. Private hospital chains in countries like China, Brazil, India, UAE and Saudi Arabia are enhancing services and offering more affordable options, making high-quality private healthcare accessible to middle-income families. Growing emphasis on sports culture also necessitates development of advanced physiotherapy clinics in the country. Further factors that are expected to drive the market are enhanced public awareness, growing geriatric population, increasing prevalence of chronic diseases.

CHALLENGES: Shortage of skilled personnel

It is expected that in the next few years, the demand for physiotherapists will outstrip the supply of new professionals in the field. Moreover, the growing elderly population coupled with increased life expectancy will create a huge demand for health workers especially physiotherapists, physiotherapy technologists and physiotherapist assistance. As per a study by the Australian Physiotherapy Association, there has been an alarming rate of physiotherapy workforce attrition, with a significant number of practitioners failing to sustain their career past mid-career stage, suggesting an alarming drain of skilled professionals. Major factors fuelling these trends include low remuneration in relation to the qualifications and skills as well as mental fatigue. This lack, in turn, is more pronounced in the essential areas such as aged care.

Global Physiotherapy Equipment Market Ecosystem Analysis

 

By application, Musculoskeletal application is expected to have the largest market share in the physiotherapy equipment market from 2024 to 2029.

Musculoskeletal application is the application that occurs in maximum prevalence in the physiotherapy equipment market. It's large market share is due to high prevalence of chronic diseases that require musculoskeletal physiotherapy for treatment. Many chronic diseases like respiratory conditions, Chronic lower back pain, type 2 diabetes, heart disease, and stroke are deeply affected by shifts and changes in lifestyle related to diet, smoking, physical activity, and alcohol use. As a result of it, there is a huge demand in need of physiotherapy services. Increased awareness of physical health has also led to many people to seek physiotherapy for injury prevention and rehabilitation.

By end user, physiotherapy & rehabilitation centers is expected to have the largest market share in the physiotherapy equipment market.

In Physiotherapy equipment market, it is dominated by physiotherapy & rehabilitation centers. Patients with prescriptions or referrals from licensed medical doctors primarily receive physical therapy treatments in Physiotherapy and rehabilitation centers. In recent years, factors such as advancements in technology, increased disposable income, greater awareness of health, and a rise in chronic disease cases have led many physiotherapists to establish their own private centers worldwide. Access for the general population at the physiotherapy centers have becomes easier as many insurance plans cover physiotherapy services. The availability of skilled personnel in these centers offering personalised physiotherapy plans for various diseases and disorders also attracts many individuals to seek their services.

North America accounted for the largest share of the Physiotherapy equipment market in 2023.

North America is one of the leading markets for physiotherapy equipment, and there are several significant reasons behind it being so. The region has a well established healthcare system with advanced medical facilities and rehabilitation centers equipped with some of the most advanced physiotherapy equipments. High per capita income coupled with government initiatives like US government providing reimbursement for certain physiotherapy services under the Medicare make physiotherapy accessible to general population. Due to this, the region also houses some of the top physiotherapy equipment manufacturers like Enovis Corp., Zynex Inc. and Whitehall Manufacturing, who continuously invest in their R&D to innovate further and launch more advanced physiotherapy equipments.

HIGHEST CAGR MARKET IN 2024-2029
US FASTEST GROWING MARKET IN THE REGION

Recent Developments of Physiotherapy Equipment Market

  • In January 2024, Enovis Corp. launched DonJoy ROAM OA, a knee brace with an advanced unloader technology to reduce pressure on the affected knee, enhance stability, and improve mobility.
  • In February 2024, Storz Medical AG established its Japanese subsidiary as part of its expansion plan.
  • In June 2024, Enraf-Nonius teamed up with Kismet Holdings Group to introduce it’s comprehensive range of physiotherapy and rehabilitation equipments to the US market.
  • In May 2024, Richmar launched REX Four Part Sequential Leg Compression System, whose fast compression boosts circulation and lymphatic drainage, as well as relieves muscle fatigue.

Key Market Players

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Scope of the Report

Report Metric Details
Market size available for years 2019-2029
Base Year Considered 2024
Forecast period 2024-2029
Forecast units Value (USD Million)
Segments covered By Product, Application, End User and Region
Geographies covered North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and the GCC countries

 

Key Questions Addressed by the Report

What is the expected addressable market value of the Physiotherapy equipment market over 5 years?
The Physiotherapy equipment market is projected to reach USD 27.03 billion by 2029, at a CAGR of 6.1 % during the forecast period.
Which segment is expected to garner the highest traction within the Physiotherapy equipment market?
The electrotherapy equipment segment is expected to witness the highest growth in the Physiotherapy equipment market.
Which country/region occupies the largest share of the Physiotherapy equipment market, globally?
The largest share of the Physiotherapy equipment market is in North America, owing to the highly developed healthcare system, early adoption of recent and emerging technologies, and high investment in R&D by the top players. A wide network of distributors ensure broader market penetration, faster product availability and improved customer support. The dominance is further supported by factors such as high health care expenditure, positive reimbursement scenario and demand for advanced physiotherapy equipments.
What are the strategies adopted by the top market players to penetrate emerging regions?
The major players in the market use partnerships, expansions, distribution agreements, product launches, and product approvals as important growth tactics.
What are the major factors expected to limit the growth of the Physiotherapy equipment market?
The stringent regulatory scenario, high costs of equipments, shortage of skilled personnel and unstable reimbursement scenarios for physiotherapy equipments are major limiting factors for the growth of the market.

 

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Table of Contents

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TITLE
PAGE NO
INTRODUCTION
1
RESEARCH METHODOLOGY
5
EXECUTIVE SUMMARY
16
PREMIUM INSIGHTS
26
MARKET OVERVIEW
36
  • 5.1 INTRODUCTION
  • 5.2 MARKET DYNAMICS
    DRIVERS
    RESTRAINTS
    OPPORTUNITIES
  • 5.3 INDUSTRY TRENDS
    CHALLENGES
  • 5.4 VALUE CHAIN ANALYSIS
  • 5.5 TECHNOLOGY ANALYSIS
    KEY TECHNOLOGIES
    - ROBOTIC INSTRUMENTS
    - ARTIFICIAL INTELLIGENCE (AI) AND MACHINE LEARNING (ML)
    COMPLEMENTARY TECHNOLOGY
    - VIRTUAL PHYSIOTHERAPY
    ADJACENT TECHNOLOGY
    - AUGMENTED REALITY
  • 5.6 PORTER'S FIVE FORCE ANALYSIS
  • 5.7 REGULATORY LANDSCAPE
    - WEARABLE SENSORS
    REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANISATION
  • 5.8 PATENT ANALYSIS
    REGULATORY FRAMEWORK
  • 5.9 TRADE ANALYSIS
  • 5.10 PRICING ANALYSIS
    AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY PHYSIOTHERAPY EQUIPMENT TYPE
  • 5.11 KEY CONFERENCES & EVENTS DURING 2024-2025
    AVERAGE SELLING PRICE TREND OF PHYSIOTHERAPY EQUIPMENT, BY REGION
  • 5.12 KEY STAKEHOLDERS & BUYING CRITERIA
    KEY STAKEHOLDERS & BUYING PROCESS
  • 5.13 UNMET NEEDS/END USER EXPECTATIONS IN PHYSIOTHERAPY EQUIPMENT MARKET
    BUYING CRITERIA
  • 5.14 ADJACENT MARKET ANALYSIS
  • 5.15 ECOSYSTEM MARKET MAP
  • 5.16 CASE STUDY ANALYSIS
  • 5.17 SUPPLY CHAIN ANALYSIS
  • 5.18 TRENDS/DISRUPTION IMPACTING CUSTOMER’S BUSINESS
  • 5.19 INVESTMENT AND FUNDING SCENARIO
  • 5.20 REIMBURSEMENT SCENARIO
PHYSIOTHERAPY EQUIPMENT MARKET, BY PRODUCT, 2019-2029 (USD MILLION AND MILLION UNITS)
76
  • 6.1 IMPACT OF AI/GENAI / AI IN PHYSIOTHERAPY EQUIPMENT MARKET
  • 6.2 INTRODUCTION
  • 6.3 EQUIPMENT
    ELECTROTHERAPY EQUIPMENT
    ULTRASOUND EQUIPMENT
    EXERCISE THERAPY EQUIPMENT
    HEAT THERAPY EQUIPMENT
    CRYOTHERAPY EQUIPMENT
    COMBINATION THERAPY EQUIPMENT
    CONTINUOUS PASSIVE MOTION THERAPY EQUIPMENT
    LASER THERAPY EQUIPMENT
    SHOCKWAVE THERAPY EQUIPMENT
    MAGNETIC PRESSURE THERAPY EQUIPMENT
    TRACTION THERAPY
  • 6.4 ACCESSORIES
    OTHER PHYSIOTHERAPY EQUIPMENT
    PHYSIOTHERAPY FURNITURE
PHYSIOTHERAPY EQUIPMENT MARKET, BY APPLICATION, 2019-2029 (USD MILLION)
89
OTHER ACCESSORIES
  • 7.1 INTRODUCTION
  • 7.2 MUSCULOSKELETAL APPLICATIONS
  • 7.3 NEUROLOGICAL APPLICATIONS
  • 7.4 CARDIOVASCULAR & PULMONARY APPLICATIONS
  • 7.5 PEDIATRIC APPLICATIONS
  • 7.6 GYNECOLOGICAL APPLICATIONS
PHYSIOTHERAPY EQUIPMENT MARKET, BY END USER, 2019-2029 (USD MILLION)
99
  • 8.1 OTHER APPLICATIONS
  • 8.2 INTRODUCTION
  • 8.3 PHYSIOTHERAPY AND REHABILITATION CENTERS
  • 8.4 HOSPITALS
  • 8.5 HOME CARE SETTINGS
  • 8.6 PHYSICIAN OFFICES
PHYSIOTHERAPY AND EQUIPMENT MARKET, BY REGION, 2019-2029 (USD MILLION)
127
  • 9.1 OTHER END USERS
  • 9.2 INTRODUCTION
  • 9.3 NORTH AMERICA
    MACROECONOMIC OUTLOOK FOR NORTH AMERICA
    US
  • 9.4 EUROPE
    CANADA
    MACROECONOMIC OUTLOOK FOR EUROPE
    GERMANY
    UK
    FRANCE
    SPAIN
    ITALY
  • 9.5 ASIA PACIFIC
    REST OF EUROPE
    MACROECONOMIC OUTLOOK FOR ASIA PACIFIC
    JAPAN
    CHINA
    INDIA
    AUSTRALIA
    SOUTH KOREA
  • 9.6 LATIN AMERICA
    REST OF ASIA PACIFIC
    MACROECONOMIC OUTLOOK FOR LATIN AMERICA
    BRAZIL
    MEXICO
    ARGENTINA
  • 9.7 MIDDLE EAST & AFRICA
    REST OF LATIN AMERICA
    MACROECONOMIC OUTLOOK FOR MIDDLE EAST & AFRICA
    GCC COUNTRIES
COMPETITIVE LANDSCAPE
159
REST OF MIDDLE EAST & AFRICA
  • 10.1 OVERVIEW
    COMPETITIVE LANDSCAPE
  • 10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
  • 10.3 REVENUE SHARE ANALYSIS OF KEY PLAYERS
  • 10.4 MARKET SHARE ANALYSIS
  • 10.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
    STARS
    EMERGING LEADERS
    PERVASIVE PLAYERS
    PARTICIPANTS
    COMPANY FOOTPRINT: KEY PLAYERS, 2023
    - COMPANY FOOTPRINT
    - REGION FOOTPRINT
    - PRODUCT FOOTPRINT
  • 10.6 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023
    - APPLICATION FOOTPRINT
    - END-USER FOOTPRINT
    PROGRESSIVE COMPANIES
    RESPONSIVE COMPANIES
    DYNAMIC COMPANIES
    STARTING BLOCKS
    COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
  • 10.7 COMPETITIVE SITUATION AND TRENDS
    - DETAILED LIST OF KEY STARTUPS/SMES
    - COMPETITIVE BENCHMARKING OF STARTUPSS/SME
    PRODUCT LAUNCHES
    DEALS
    EXPANSIONS
  • 10.8 PHYSIOTHERAPY EQUIPMENT MARKET, BRAND/PRODUCT COMPARATIVE ANALYSIS
    OTHER DEVELOPMENTS
  • 10.9 R&D ASSESSMENT OF KEY PLAYERS
COMPANY PROFILES
198
  • 11.1 VALUATION AND FINANCIAL METRICS OF KEY PLAYERS PHYSIOTHERAPY EQUIPMENT MARKET
  • 11.2 KEY PLAYERS
    ENOVIS CORP. (FORMERLY COLFAX)
    ZIMMER MEDIZISYSTEME GMBH
    ZYNEX, INC.
    PERFORMANCE HEALTH (SUBSIDIARY OF MADISON DEARBORN PARTNERS)
    ITO CO., LTD.
    DYNATRONICS CORPORATION
    BTL INDUSTRIES INC.
    ENRAF-NONIUS B.V.
    EMS PHYSIO LTD.
    MECTRONIC MEDICALE
    WHITEHALL MANUFACTURING
    RICHMAR (SUBSIDIARY OF COMPASS HEALTH BRANDS)
    LIFE CARE SYSTEMS
    STORZ MEDICAL AG
    METTLER ELECTRONICS CORP.
    ALGEOS
    GYMNA INTERNATIONAL
    HMS MEDICAL SYSTEMS
    ASTAR
  • 11.3 OTHER PLAYERS
    EMBITRON S.R.O. (A CERTICON GROUP COMPANY)
    PHYSIOMED ELEKTROMEDIZIN AG (FORMERLY PROXOMED)
    TECNOBODY
    COOLSYSTEMS, INC.
APPENDIX
201
JOHARI DIGITAL
POWERMEDIC
  • 12.1 INSIGHTS OF INDUSTRY EXPERTS
  • 12.2 DISCUSSION GUIDE
  • 12.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
  • 12.4 AVAILABLE CUSTOMIZATION
  • 12.5 RELATED REPORTS
  • 12.6 AUTHOR DETAILS

The study involved four major activities to estimate the current size of the Physiotherapy equipment market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard & silver-standard websites, regulatory bodies, and databases (such as D&B Hoovers, Bloomberg Business, and Factiva) were referred to identify and collect information for the study of Physiotherapy equipment market. It was also used to obtain important information about the top players, market classification, and segmentation according to industry trends to the bottom-most level, geographic markets, and key developments related to the market. A database of the key industry leaders was also prepared using secondary research.

Primary Research

Extensive primary research was conducted after obtaining information regarding the Physiotherapy equipment market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, product development/innovation teams, and related key executives from manufacturers; distributors operating in the Physiotherapy equipment market; and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, application, vertical, and region. Stakeholders from the demand side customers/end users who are using infection control products were interviewed to understand the buyer’s perspective on the suppliers, products, and their current usage and the future outlook of their business, which will affect the overall market.

The following is a breakdown of the primary respondents:

Note 1: C-level primaries include CEOs, COOs, CTOs, and VPs.

Note 2: Other primaries include sales managers, marketing managers, and product managers.

Note 3: Companies are classified into tiers based on their total revenue.

As of 2023: Tier 1=>USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, Tier 3=< USD 500 million.

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The research methodology used to estimate the size of the Physiotherapy equipment market includes the following details.

The market sizing of the market was undertaken from the global side.

Country-level Analysis: The size of the Physiotherapy equipment market was obtained from the annual presentations of leading players and secondary data available in the public domain. The share of products in the overall Physiotherapy equipment market was obtained from secondary data and validated by primary participants to arrive at the total Physiotherapy equipment market. Primary participants further validated the numbers.

Geographic market assessment (by region & country): The geographic assessment was done using the following approaches:

Approach 1: Geographic revenue contributions/splits of leading players in the market (wherever available) and respective growth trends

Approach 2: Geographic adoption trends for individual product segments by end users and growth prospects for each of the segments (assumptions and indicative estimates validated from primary interviews)

At each point, the assumptions and approaches were validated through industry experts contacted during primary research. Considering the limitations of data available from secondary research, revenue estimates for individual companies (for the overall Physiotherapy equipment market and geographic market assessment) were ascertained based on a detailed analysis of their respective product offerings, geographic reach/strength (direct or through distributors or suppliers), and the shares of the leading players in a particular region or country.

Global Physiotherapy Equipment Market Size: Bottom-Up Approach and Top-Down Approach

Data Triangulation

The market was split into several segments and subsegments after arriving at the overall market size—using the market size estimation processes. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segment. The data was triangulated by studying various factors and trends from both the demand and supply sides in the Physiotherapy equipment market.

Market Definition

Physiotherapy refers to the assessment, diagnosis, and treatment of a disease/disability through physical means. Physiotherapy is a branch of rehabilitative health, and it uses specially designed exercises and equipment to help patients regain or improve their physical abilities. It is a distinct form of care that can be performed both in isolation and in conjunction with other types of medical management.

Stakeholders

  • Physiotherapy Equipment Manufacturers, Vendors, and Distributors
  • Group Purchase Organizations (GPOs)
  • Original Equipment Manufacturers (OEMs)
  • Hospitals
  • Rehabilitation Clinics
  • Physiotherapy Centers
  • Healthcare Institutes
  • Market Research and Consulting Firms
  • Research Institutes and Government Organizations

Report Objectives

  • To describe, analyze, and forecast the physiotherapy equipment market by product, application, end user, and region
  • To describe and forecast the physiotherapy equipment market for key regions—North America, Europe, the Asia Pacific, Latin America, the Middle East & Africa, and GCC Countries
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the physiotherapy equipment market
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall physiotherapy equipment market
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for market players
  • To profile key players and comprehensively analyze their market shares and core competencies2   in the physiotherapy equipment market
  • To analyze competitive developments such as partnerships, collaborations, agreements & acquisitions, product launches, expansions, and R&D activities in the physiotherapy equipment market
  • To benchmark players within the market using the proprietary Company Evaluation Matrix framework, which analyzes market players on various parameters within the broad categories of business and product strategy

Previous Versions of this Report

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