Market Survey on Physical Therapy Supplies Market Covering Sales Outlook, Up-to-date Key Trends, Market Size and Forecast, Per Capita Expenditure, Company Share, Brand Share, Regulations, Reimbursement Scenario, Epidemiology, Procedure Numbers, and Pipeline Assessment.
NEWARK, DE / ACCESSWIRE / July 25, 2024 / The global physical therapy supplies market is predicted to reach USD 16.3 billion in 2024. The CAGR for physical therapy supplies is forecast to be 5.2% between 2024 and 2034. According to estimates, the market will reach USD 27.1 billion by 2034.
Physical therapy equipment is used to enhance mobility, build strength, support healing, and preserve general health through various means. Having personal equipment during physical therapy provides patients with an opportunity to manage their recovery process.
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Patients suffering from pain due to an injury or neurological disorder cannot recover without physical therapy. As a result of the combination of traditional equipment and contemporary technology, physical therapy education enhances the function of a patient's motor system. Physical therapists use a variety of equipment depending on the patient's physical condition and needs during physical therapy.
Various physical therapy techniques have been studied to determine their efficacy for neurological disorders, musculoskeletal conditions, and post-surgical rehabilitation. A number of these studies have evaluated the effects that particular methods, exercises, or modalities may have on patient outcomes, functional improvement, and quality of life of the patients involved.
Several studies have examined how technological advancements are influencing physical therapy instruments and equipment. As part of this, wearable technology can be used for tracking patient progress, virtual reality (VR) can be used for pain control and rehabilitation, and remote physical therapy can be provided through telehealth platforms.
Which Factors are driving the Growth of the Physical Therapy Supplies Market?
Growing demand for Rehabilitative Care to widen Physical Therapy Supplies Uptake
The overarching goal of physiotherapy and rehabilitation therapies is to enhance strength and flexibility while reducing the risks associated. If an individual has fallen, a physiotherapist may recommend using walking aids and an exercise program to optimize strength and stability. Rehabilitation can also assist with stamina monitoring for people suffering from asthma, chronic fatigue syndrome, or recovering from major surgery.
With increasing exposure to more sophisticated medical, emergency, and trauma care, physiotherapy-based rehabilitative care is gaining importance worldwide. Rehabilitation services are an essential component of care for patients who have or are at risk of developing short/long-term impairment as a result of their injuries or illnesses. As a result, there is a huge requirement for rehabilitation equipment and, indirectly, physical therapy supplies.
A Rise in the Number of Physically Challenged People
The global number of disabled individuals is increasing, resulting in them being more likely to suffer from chronic conditions. Furthermore, the baby boomer generation is growing older, and they are more likely to experience ailments like stroke and cardiovascular disease.
As a result, the role of physical therapists to diagnose this segment of the population is rising, which benefits the physical therapy supplies industry. The rise in unhealthy lifestyle habits is yet another significant contributor to the rapid growth of physical therapy supplies.
Which Factors are restraining the Growth of the Physical Therapy Supplies Market?
Changes in healthcare insurance policies and coverage have a notable impact on patients' out-of-pocket expenses. This may consequence in service variations and minimization of quality care. The associated costs can confine patients' access to healthcare services, likely to result in cases in which patients do not receive medical treatment. In contrast, some patients may not be able to continue work or participate in daily activities. As a result, these factors may constrain market growth.
US Physical Therapy Supplies Market Dominates the Global Market with Rising Demand for Rehabilitative Care
The North American region dominates the global physical therapy supplies market size during the forecast period. The US is capturing the maximum share in the region due to a growing geriatric population and the high rising prevalence of neurological and cardiopulmonary ailments. According to the prevailing situation in the United States, despite being a multi-billion-dollar industry, the physical therapy supplies marketplace is highly fragmented and intensely competitive. This is rising the US physical therapy supplies market share during the forecast period. Physical therapy is in great supply in the United States, where the field is growing exponentially into new areas such as eldercare and sports medicine. According to World Health Organization statistics, obesity affected 13% of the total global population in recent years.
"Physical therapy supplies are expected to experience rapid growth due to the introduction of more advanced medical equipment and the expansion of rehabilitation centers. Interdisciplinary approaches to healthcare and innovations in medical technology have resulted in a new generation of innovative healthcare devices on the market. The demand for these devices is expected to expand." - opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
Key Takeaways from the Physical Therapy Supplies Market:
Historically, physical therapy supplies generated a 4.9% CAGR from 2018 to 2023.
A CAGR of 5% is predicted for the United States market through 2034.
India is expected to exhibit a 6.1% CAGR over the forecast period.
A CAGR of 5.8% is expected to be achieved between 2024 and 2034 in China's market.
Based on type, ultrasound captured 42% of the market in 2023. It is expected that the market will continue to grow in the coming years.
Competitive Landscape:
A wide range of physical therapy supplies can be found in the market, including exercise equipment, electrotherapy devices, mobility aids, treatment tables, and other accessories.
The physical therapy supplies industry is largely driven by businesses that provide products that assist patients in their recovery and rehabilitation. In light of the ever-increasing need for efficient physical therapy and rehabilitation solutions, the market is expected to continue to grow.
Recent Development:
In August 2024, Physiotattva partnered with BTL to create an industry-leading pain management system. By using BTL, patients receive advanced rehabilitation equipment, focusing on pain pathways such as pain gates, opioid theory, and nociceptors. By 2025, the company intends to operate in at least two countries, five states, and 15 cities, and have about a hundred centers.
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Key Players of the Physical Therapy Supplies Industry:
BTL
EMS Physio Ltd.
Dynatronics Corporation
RICHMAR
Performance Health
Storz Medical AG
Zimmer MedizinSysteme GmbH
ITO Co. Ltd.
Enraf-Nonius
Whitehall Manufacturing
Key Segments of the Physical Therapy Supplies Market:
By Type:
In terms of type, the industry is divided into hydrotherapy, cryotherapy, continuous passive motion, ultrasound, electric stimulation, heat therapy, therapeutic exercise, and others.
By Demographics:
In terms of capacity, the industry is segregated into a non-geriatric population and, a geriatric population.
By Application:
In terms of application, the industry is segmented into neurology (stroke, spinal cord injuries, Parkinson's disease, multiple sclerosis, cerebral palsy, and others), musculoskeletal, pediatrics, cardiovascular & pulmonary, and others.
By End-use:
The industry is classified by end-use industries as hospitals & clinics, rehabilitation centers, and others.
By Region:
Key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia, East Asia, Middle East and Africa have been covered in the report.
About the Healthcare Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one million+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.
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