The global market for physical therapy supplies is experiencing a significant upsurge, with estimations indicating a valuation of USD 14,501.35 Million in 2022. This remarkable growth trajectory is fueled by various factors, including shifting dietary patterns, sedentary lifestyles, and a surge in conditions such as stroke and Parkinson’s disease, which have led to an increased demand for physical therapy interventions.
A recent in-depth market analysis has projected a robust Compound Annual Growth Rate (CAGR) of 5.2% for the period between 2022 and 2032. By the end of 2032, the market is forecasted to reach an impressive valuation of approximately USD 23,621.17 Million. This surge highlights the growing recognition and adoption of physical therapy as an indispensable component of healthcare worldwide.
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The escalating prevalence of lifestyle-related disorders and chronic conditions has underscored the pivotal role played by physical therapy in enhancing mobility, managing pain, and improving overall quality of life. As individuals become more health-conscious and seek non-invasive treatment options, the demand for physical therapy supplies continues to soar.
“The increasing prevalence of musculoskeletal disorders, coupled with the aging population and advancements in physical therapy techniques, are driving the growth of the global physical therapy supplies market,” stated FMI.
Key market players are focusing on expanding their product portfolios, investing in research and development, and forging strategic partnerships to capitalize on emerging opportunities in the physical therapy sector. Furthermore, technological advancements such as tele-rehabilitation and wearable devices are expected to revolutionize the delivery of physical therapy services, further propelling market growth.
With a commitment to improving patient outcomes and addressing the evolving healthcare needs of communities worldwide, stakeholders across the physical therapy landscape are poised to leverage this unprecedented growth momentum.
Physical Therapy Supplies Market Overview:
As per The Institute of Physical Therapy and Applied Science, physical therapy is a holistic approach based on the manual treatment of soft tissues, i.e. muscles, tendons, ligaments and fascia. Hence, physical therapy differs greatly from physiotherapy as it does not specially treat the spine.
The main equipment used for physical therapy include ramps, exercise balls, resistance exercise bands, Nordic Track, treatment tables, ultrasound, Isokinetic devices, electrical muscle stimulation equipment, etc. The global physical therapy supplies market is likely to witness sustained growth in the next 10 years.
Physical Therapy Supplies Market: Drivers
In countries such as United States, there is a huge growth in the demand for physical therapy and this field is exhibiting a dynamic expansion in variety of new areas such as eldercare and sports medicine. As per the figures released by the World Health Organization, till 2014, 13% of the total world population was suffering from obesity.
This has a direct impact on the number of people needing physical therapy and hence the physical therapy supplies market is expanding. This is likely to boost the growth of the physical therapy supplies market in the coming years.
In addition, there is a noticeable increase in the number of disabled people in the world and they are likely to develop chronic conditions. Also, the baby boomer generation is now getting old and they are likely to suffer from ailments such as heart diseases and stroke.
Hence, the demand of physical therapists treating this segment of population is also increasing and this has a positive effect on the physical therapy supplies market. The other major contributing factor in the increasing demand for the physical therapy supplies market is the rise in unhealthy lifestyle habits.
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Physical Therapy Supplies Market: Key Regions
As far as the geographical spread is concerned, North America is the leading market in the global physical therapy supplies market due to a growing geriatric population and increasing incidences of neurological and cardiopulmonary diseases.
In addition to this, the initiatives by the government are also supporting the growth of the physical therapy supplies market in the region. In Europe, the physical therapy supplies market is expected to witness moderate growth due to increasing prevalence of neurological disorders, musculoskeletal problems and cardiopulmonary diseases in the region.
Also, an ageing population is also aiding the increase in demand of the physical therapy supplies market. As far as Asia is concerned, it represents the fastest growing region in the physical therapy supplies market. The reason for this is an increasing geriatric population and a large number of patients suffering from neurological diseases in Japan and China.
As per the scenario in United States, even though the physical therapy supplies market being a multibillion dollar industry, it is highly fragmented and extremely competitive.
Physical Therapy Supplies Market: Key Market Players
Some of the leading physical therapy supplies manufacturers include Enraf-Nonius B.V., Whitehall Manufacturing, ITO Co., Ltd., Zimmer MedizinSysteme GmbH, Storz Medical AG, RICHMAR, Dynatronics Corporation, EMS Physio Ltd., and others.
The largest 50 competitors in the global physical therapy supplies market comprise less than 25% of the global physical therapy supplies market. The reason for this is that the physical therapy supplies market is largely comprised of small independent practices rather than one consolidated entity.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, types and applications.
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Key Segments Covered in the Physical Therapy Supplies Market Study:
Physical Therapy Supplies Market by Application:
- Neurology
- Stroke
- Spinal Cord Injuries
- Parkinson’s Disease
- Multiple Sclerosis
- Cerebral Palsy
- Others
- Musculoskeletal
- Pediatrics
- Cardiovascular & Pulmonary
- Other Applications
Physical Therapy Supplies Market by Type:
- Hydrotherapy
- Cryotherapy
- Continuous Passive Motion
- Ultrasound
- Electric Stimulation
- Heat Therapy
- Therapeutic Exercise
- Others
Physical Therapy Supplies Market by Demographics:
- Non-Geriatric Population
- Geriatric Population
Physical Therapy Supplies Market by End Use:
- Hospitals & Clinics
- Rehabilitation Centers
- Others
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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