The global physiotherapy devices market is anticipated to experience a prominent surge in demand over the coming years. Hence, the market players want to optimize the lucrativeness of their operations within the market by resorting to a range of business strategies. The coexistence of huge market players with several local and regional vendors has birthed intense competition within the market. To retain their dominance and gain a greater market share, the well-established players are aiming to differentiate their products from the products developed by competitors. Moreover, the market would excavate positive results for market player who succeed in dispelling innovative products at affordable prices. Mergers and acquisitions are expected to define the crux of the market as a large number of international players incline towards these strategies. The contemporary players in the market include Dynatronics Corporation, EMS Physio Ltd., BTL, DJO Global, Patterson Medical Ltd.,and Enraf-Nonius.
Transparency Market Research produced a report that estimates the progress of the market along key parameters. It is prognosticated that the market value would elevate to US$2,838.9 mn by the end of 2025 as compared to a value of US$1,686.1 mn in 2016. These robust growth figures are expected to reap a CAGR of 6.1% over the period from 2017 to 2025. Based on the type of products available in the market, the electrotherapy equipment is likely to dominate the segment due to its expansive usage. Along regional lines, North America is expected attain supremacy over all other players during the forecast period.
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Increase in Strenuous Activities and Ailments of Geriatric Populace to Bolster Market
Physiotherapies are an effective option to treat a medley of disabilities and neurological disorder, which is the prime reason behind the popularity of physiotherapy devices. The instance of musculoskeletal diseases has risen in recent years that has created room for these devices across various public healthcare units and private hospitals. The entire world is now driven towards engaging in sportive endeavors that has increased the possibility physical injuries, thus, escalating the demand within the market.