The global physiotherapy equipment market is projected to reach USD 24.5 billion by 2027 from USD 18.4 billion in 2022, at a CAGR of 6.0% during the forecast period. The growth of this market is primarily driven by the rapidly growing geriatric population; the subsequent increase in the global prevalence of chronic diseases; the growing incidence of sports injuries, degenerative joint disorders, and cerebrovascular disease; and the growing demand for rehabilitative care.
However, an unstable reimbursement scenario for physiotherapy, the shortage of skilled personnel, and the presence of alternative therapies such as acupuncture are the major factors that are expected to restrain the growth of this market during the forecast period.
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The global physiotherapy equipment market is fragmented and marked by several small and large companies. Some of the major players in this market include Colfax Corp. (US), Zimmer Medizinsysteme GmbH(Germany), Zynex, Inc. (US), Performance Health (US), and ITO Co., Ltd. (Japan). Most leading players in the market have a broad portfolio of physiotherapy equipment such as electrotherapy equipment, ultrasound equipment, exercise therapy equipment, and cryotherapy equipment among others. Players in the global physiotherapy equipment market have employed various strategies to expand their global footprint and increase their market share. These key strategies include product launches, acquisitions, and expansions.
Colfax Corp. (US) dominated the physiotherapy equipment market in 2021. The company has its business operations in the US, the Asia Pacific, the Middle East, Africa, Germany, Australia, Canada, and Latin America. It maintains its leadership position in this market through its strong distribution network across the globe. Moreover, significant investments in R&D enable the company to provide innovative products and services in this market space, thus maintaining and improving its competitive position in the physiotherapy equipment market.
Zimmer Medizinsysteme GmBH (Germany) is among the leading providers of physiotherapy equipment and is ranked at 2nd position in the physiotherapy equipment market. The company is recognized for its strong distribution network and has a strong customer base, which includes medical professionals, physiotherapists, and movement experts. The company significantly focuses on quality improvements in its products, on-time deliveries, and improving its post-sales services. Zimmer is executing its strategy to grow through a value-driven acquisition program to become a recognized brand in the physiotherapy equipment market. The company intends to provide value to its customers, clinicians, investors, and stakeholders by executing its core strategy of sustained revenue growth and focused business development.
Physiotherapy Equipment Market by Product (Cryotherapy, Laser Therapy, Ultrasound Therapy, Electrotherapy, and Accessories) Application (Musculoskeletal, Neurology, Pediatrics, Gynecology, Cardiovascular) End User (Hospital) - Global Forecast to 2027
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