30 Nov
2023
Almost every branch of medicine and medical instrumentation has benefited from the introduction of digital technologies. Not just in the treatment phase, technological advancements have played a huge role in expanding the scope of rehabilitative medicine also. Upgradation of physiotherapy equipment due to integration of emerging technologies is an example of this trend.
Key developments in physiotherapy equipment industry
Physiotherapy is a kind of rehabilitative medicine that seeks to improve the medical condition of a patient while he/she is recovering from an injury or an illness. In particular, physiotherapy focuses on improving the movement of muscles, especially when the patient is recovering from a grave injury. It involves numerous processes, each of which requires specialized equipment. In the past few years, each of the major equipment has undergone substantial evolution. The performance matrix, for example, is a commonly used equipment in physiotherapy which helps the physiotherapist to identify the patient's weak spots and high-risk areas which can cause problems during movement. Accurate analysis of the effects of bodily movements on these weak spots is where advanced technologies like AI and machine learning could play a huge role. Moreover, rehabilitation robotics is one major development in the field of physiotherapy that is gradually taking shape. Rehabilitation robotics entails the use of robots to aid the physiotherapist to enhance the outcomes of motor-skill therapy and post-surgery rehabilitation. Along with these technologies, physiotherapy medicine has also taken the help of virtual reality technology and motion capture technology.
Potential opportunities of growth for the industry
The physiotherapy equipment market is a dynamic one with various companies competing for dominance. In September 2023, Performance Health, a medical equipment manufacturer, announced that it had signed an acquisition agreement Sissel France. Under this agreement, Performance Health will take over the product portfolio of Sissel France which includes various fitness and physiotherapy-related products. Indutrade in July 2022 had entered into a similar alliance with Primed, a Swiss physiotherapy equipment manufacturer. This acquisition by Indutrade helped the company to expand its presence and operations in Europe. Such strategic alliances have ultimately helped not just the companies involved but also the market.
Apart from this vital factor, the growing prevalence of chronic diseases across the globe is also expected to drive the global physiotherapy equipment market. Increasing prevalence of chronic diseases has, in turn, led to surge in number of orthopedic surgeries which will help the market to grow during the 2023-2032 period. Furthermore, a growing proportion of the geriatric population suffering from osteoarthritis is expected to create favorable conditions for the growth of the market.
A segmental analysis of the market has given some interesting insights. When analyzed on the basis of application of physiotherapy equipment, the musculoskeletal segment is predicted to have the highest absolute revenue growth of $626.59 million in the 2023-2032 period. On the other hand, the neurology segment is anticipated to gather $251.84 million, and the other segment will hold $295.68 million during the same period. Regional analysis shows that the China physiotherapy equipment market is anticipated to be the fastest growing with a CAGR of 7.2% from 2022 to 2032.
Thus, the growth of the global physiotherapy equipment market can be attributed to technological advancements in the industry and rising prevalence of chronic disorders. Strategic alliances between major companies and the expansion of market in China will unlock various growth opportunities for the industry.
Akhilesh Prabhugaonkar
Author's Bio- Akhilesh Prabhugaonkar holds a bachelor’s degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.
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