Physiotherapy devices market is looking at decent growth between 2017 and 2025. And, multiple factors at play here are working towards this propulsion. Two of the most prominent factors include rise in geriatric population and the growing trend of strenuous physical activity for promoting health and wellness.
The competitive landscape of the global physiotherapy device market is quite fragmented and some of the names to reckon with are DJO Global, BTL, EMS Physio Ltd., Patterson Medical Ltd., Dynatronics Corporation, Enraf-Nonius, Ossur, HMS Medicals Systems, and A. Alego Limited, among others.
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Geriatric Population to Propel Global Physiotherapy Devices Market on to a High Growth Trajectory over the Forecast Period
The geriatric population is looking at a dizzying pace of ageing with one in every six people reach the age bracket of 65 or over. In fact, it is worth noting that while in 2015, the number of people aged 6o and above was 900 million, by 2050, about 2 billion people will fall in the age group. These are big numbers and holds great significance for the market considering this demographic sees high incidence of musculoskeletal and neuro muscular injuries.
A very interesting fact which is relevant to this factor is that in the year 2018, demographics shifted dramatically and older people surpassed the number of younger people. The age bracket noted in this shift included 65 and above in the former and five and below in the latter.
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Similarly, people hitting the gym regularly are on an all-time high. Members breaking a sweat 1054 times in a year are 62.5 million and non-members hit it 24 days annually. Besides more and more people are taking up to sports as health and fitness catches up on with the masses as a cool activity.
As per Transparency Market Research’s analysts, the global physiotherapy devices market is set to chart a steady 6.1% CAGR (Compound Annual Growth Rate) due to these factors. And, the comprehensive study conducted show that the market value would rise up to touch the value of USD 2838.8 million.
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North America and Europe to Hold the Lion’s Share in the Global Physiotherapy Devices Market over the Forecast Period
Population in Europe and North America is ageing and the figures are staggering. As per a study done recently, one in every four people are touch the 65 and above mark in terms of age by the year 2050. That means cases of musculoskeletal and neuro-muscular injuries will see an upward rise. Besides, it is important to note that the two regions have prominent players pushing the market to greater heights. Additionally, not only is the level of disposable income quite high in the region, the awareness levels are impressive as well. Besides, reimbursement scenario is robust. Thus, it will not be wrong to say that the healthcare environment is conducive to the growth of physiotherapy devices market. And, it would thus contribute greatly to the growth of the global physiotherapy devices market over the forecast period.
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