Physical Therapy Equipment Market

The rising prevalence of orthopedic disorders, growing incidences of road accidents, rising occurrence of sports injuries, increasing geriatric population, increasing awareness about physical therapy equipment, increasing support by public and private companies, and increasing R&D activities in physiotherapy are the key market factors for the global Physical Therapy Equipment Industry. In April 2017, Dynatronics got a branded producer, Hausmann Industries, to produce athletic training equipment and first-rate physical therapy. The rising incidences of cardiovascular and neurological disorders and the increasing geriatric population have raised the global demand for physiotherapy equipment.

According to the WHO Facts of 2021, the proportion of the world population of senior citizens and up will nearly be doubled from 12% to 22% between 2015 and 2050, respectively. By 2050, most of the world's elderly population will live in average or below-average-income countries. The residents are aging at a faster rate than past. Every country faces significant challenges in ensuring that its health and social systems are ready to benefit from demographic shifts.

As the sum of the older population is increasing, the population is prone to orthopedic disorders, which is anticipated to fuel the market in the future. The reasons mentioned above are expected to cause a significant growth in the demand for physical therapy equipment during the forecast period. Thus, this factor is fetching the market CAGR during the forecast period.

Besides the quick rise of the senior population, the global growth of the physiotherapy equipment market is fetched by several factors, including favorable healthcare reforms, a rising number of people who are approaching retirement age, a rising prevalence of cardiovascular and neurological diseases, and an increased employment rate. Nonetheless, the dealers operating in the physiotherapy equipment market are projected to look into the new opportunities in the crowded emerging economies of China and India, as well as fresh technological advancements such as exoskeletons, interactive video games, robotics, virtual reality, robotics, and implanted devices.

North America contributed to the global market with a share of 38.5% due to the increasing amount of accidents and mishappenings and the growing incidence of osteoporosis. Thus, these trends in the market are expected to hasten the physical therapy equipment market revenue globally.

The aging population is a significant driver of the Global Physical Therapy Equipment Market Industry. As individuals age, they often face mobility issues and require rehabilitation services to maintain their quality of life. The United Nations projects that the number of people aged 60 and older will reach 2.1 billion by 2050. This demographic shift is likely to increase the demand for physical therapy equipment, as older adults frequently require assistance with mobility and rehabilitation. Consequently, the market is expected to grow substantially, potentially reaching 25.6 USD Billion by 2035.

The Global Physical Therapy Equipment Market Industry is projected to experience substantial growth in the coming years. With a market value of 14.5 USD Billion in 2024, the industry is set to expand significantly, potentially reaching 25.6 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate of 5.27 percent from 2025 to 2035. Factors contributing to this growth include the increasing prevalence of chronic diseases, an aging population, and advancements in technology. Such projections indicate a robust future for the physical therapy equipment market, driven by evolving healthcare needs and innovations.

Technological advancements play a crucial role in shaping the Global Physical Therapy Equipment Market Industry. Innovations such as robotic-assisted therapy devices, virtual reality rehabilitation, and telehealth solutions are enhancing treatment efficacy and patient engagement. For example, robotic devices can provide precise movements for rehabilitation, improving recovery outcomes. These advancements not only improve patient experiences but also expand the market's reach. As technology continues to evolve, it is anticipated that the market will witness a compound annual growth rate of 5.27 percent from 2025 to 2035, reflecting the increasing integration of technology in rehabilitation.

Government initiatives and funding for rehabilitation services are pivotal in the Global Physical Therapy Equipment Market Industry. Many countries are investing in healthcare infrastructure to improve access to physical therapy services. For instance, various national health programs are allocating resources to enhance rehabilitation services, which in turn drives demand for physical therapy equipment. These initiatives not only support patient care but also stimulate market growth by increasing the availability of funding for equipment purchases. As these efforts continue, the market is expected to thrive, potentially reaching 25.6 USD Billion by 2035.

The Global Physical Therapy Equipment Market Industry is experiencing growth due to the rising prevalence of chronic diseases such as arthritis, diabetes, and cardiovascular conditions. These ailments often necessitate physical rehabilitation, thereby increasing the demand for specialized equipment. For instance, the World Health Organization indicates that chronic diseases account for approximately 71 percent of all deaths globally. As healthcare systems adapt to manage these conditions, the market for physical therapy equipment is projected to reach 14.5 USD Billion in 2024, reflecting a growing need for effective rehabilitation solutions.

There is a growing awareness of the benefits of physical therapy, which is driving the Global Physical Therapy Equipment Market Industry. Patients and healthcare providers are increasingly recognizing that physical therapy can alleviate pain, improve mobility, and enhance overall health. This awareness is leading to higher referral rates for physical therapy services, thereby increasing the demand for related equipment. Educational campaigns and advocacy efforts are further promoting the importance of rehabilitation, contributing to the market's growth. As a result, the industry is poised for expansion, with projections indicating a market value of 14.5 USD Billion in 2024.

By region, the study for the market insights provides into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Physical Therapy Equipment market accounted for USD 12.9 billion in 2022 with a share of around 45.80% and is expected to exhibit a significant CAGR growth during the forecast period. The market is expected to be driven by a rising number of people engrossed in fitness practices and sports, paired with the increasing number of patients with cardiovascular, neurological, orthopedic, and MSD conditions.

Further, the main countries studied in the market report are The U.S., Canada, Germany, China, India, France, the UK, Italy, Spain, Japan, Australia, South Korea, and Brazil.

Figure 3: PHYSICAL THERAPY EQUIPMENT MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

Europe’s Physical Therapy Equipment market accounts for the second-largest market share owing to the improved healthcare infrastructure compared to the rest of the world. Most of the evolving companies hail from developing countries. Moreover, the UK market of physical therapy equipment held the largest market share, and the Germany market of physical therapy equipment was the fastest-growing market in the region.

Asia Pacific Physical Therapy Equipment Market is expected to grow at the fastest CAGR from 2022 to 2030. This is primarily due to crowded bases in countries like China and India. This prompted the government to improve the infrastructure of the health sector and provide services at cheaper rates. This also promoted medical tourism. Further, the China market of physical therapy equipment held the largest market share, and the Indian market of physical therapy equipment was the fastest-growing market in the region.

Major market players are expending a lot of money on research and development activities to increase their product lines, which will add to the growing market of physical therapy equipment. Competitors are also taking various strategic initiatives to grow their footprint globally, with key market developments including new product launches, mergers and acquisitions, contract-based agreements, increased investments, and collaboration with other organizations. Participants in the physical therapy equipment industry must provide low-cost products to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies that producers adopt in the global physical therapy equipment industry to give advantages to clients and enlarge the market sector is to produce narrowly to reduce operating costs. In recent years, the physical therapy equipment industry has provided medication with some of the most notable benefits. The major players in the physical therapy equipment market are Enraf-NoniUS B.V (Europe), Dynatronics Corporation (US), DJO Global, Inc. (US), BTL Industries (US), and others.

Dynatronics Corporation (US), Headquartered in Salt Lake City, Utah, United States, was founded in 1979 by Kelvyn H. Cullimore Jr. The company has its subsidiaries Bird & Cronin LLC and Hausmann. It is dedicated to providing good-quality revitalizing products designed to accelerate achieving optimal health. The company designs, produces and sells a wide variety of products for clinical use in physical therapy, pain management, rehabilitation, and athletic training.

DJO Global, Nordquist, and lawyer Ken Reed founded Carlsbad, California garage In 1978, which later became DonJoy after their wives named, Donna and Joy. They first offered just sleeves constructed of neoprene pieces stitched and pulled over the body's joints. In 1980, they increased their product line off-the-shelf rigid knee support device called the 4-point knee. The company is now known as Enovis™ (NYSE: ENOV), offering medical technology focused on nourishing clinically differentiated solutions that make better patient outcomes so far and transform workflows.