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Physical Therapy Supplies Market Size, Share Analysis And Forecast To 2033
Physical Therapy Supplies Market Size
According to The Business Research Company's, The physical therapy supplies market size has grown strongly in recent years. It will grow from $14.11 billion in 2023 to $14.96 billion in 2024 at a compound annual growth rate (CAGR) of 6%. The growth in the historic period can be attributed to the rising incidence of chronic diseases, growth in healthcare expenditure, rising participation in sports and recreational activities, and increased awareness of the benefits of physical therapy.
The physical therapy supplies market size is expected to see strong growth in the next few years. It will grow to $18.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to an increasing shift towards home-based healthcare and remote monitoring, increasing focus on preventive care, a growing geriatric population, expanding healthcare infrastructure, and expansion of telemedicine and digital health platforms. Major trends in the forecast period include the integration of artificial intelligence telerehabilitation solutions, virtual reality-based rehabilitation programs, technological innovations in physical therapy equipment, robotics and automated systems in physical therapy, sensor technology for movement analysis, and remote rehabilitation apps and platforms.
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Market Drivers and Trends:
The rise in the prevalence of sports injuries is expected to propel the physical therapy supplies market going forward. Sports injuries refer to injuries sustained during athletic activities or exercise, typically resulting from sudden trauma, overuse, or improper technique. The surge in the prevalence of sports injuries can be attributed to increased participation, inadequate training, and equipment-related issues. Physical therapy supplies are integral to sports injury rehabilitation, facilitating targeted exercises, promoting muscle strengthening, and aiding in restoring mobility and function, enabling athletes to recover faster and return to their sport safely. For instance, in August 2023, according to a report published by the National Safety Council (NSC), a US-based nonprofit organization that promotes health and safety through education and advocacy, exercise and exercise equipment injuries increased slightly by approximately 8.9% in 2022 (445,642 injuries compared to 409,224 injuries in 2021), while bicycle-related injuries saw a 7.9% increase from 375,798 in 2021 to 405,411 in 2022. Therefore, the rise in the prevalence of sports injuries drives the growth of the physical therapy supplies market.
Major companies operating in the physical therapy supplies market are focused on developing advanced therapy solutions, such as remote physical therapy solutions, to enhance patient care, improve accessibility to therapy, and optimize treatment outcomes. These solutions leverage telecommunication technologies, such as video conferencing, mobile applications, and wearable devices, to facilitate virtual interactions between patients and therapists. For instance, in May 2021, Smith & Nephew PLC, a UK-based medical technology company, launched ARIA Home PT, a remote physical therapy solution. This innovative product enables patients to undergo physical therapy at home, offering personalized experiences while providing clinicians with valuable data. ARIA Home PT uses advanced technology and telehealth solutions from licensed physical therapists to help patients adhere, engage, and get better results during their joint replacement treatment outside the hospital.
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Major Key Players of the Market:
Enovis Corporation, DJO Global Inc., BTL Industries, BSN Medical GmbH, Medical Facilities of America, Whitehall Manufacturing, Phymed S.R.L., Zynex Medical Inc., Patterson Medical, Performance Health, Zimmer MedizinSysteme GmbH, Dynatronics Corporation, Biodex Medical Systems Inc., Medsource USA INC, Enraf-Nonius International, Storz Medical AG, CRS Rehabilitacja Sportowa, RICHMAR, EMS Physio Ltd., SEERS Medical Ltd, Tartan Group, HMS Medical Systems, Life Care Systems, ITO Co. Ltd., Grupo Roan
Physical Therapy Supplies Market 2024 Key Insights:
• The physical therapy supplies market size is expected to see strong growth in the next few years. It will grow to $18.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
• Rise in The Prevalence of Sports Injuries Boosts Physical Therapy Supplies Market
• Advancements In Remote Physical Therapy Solutions Transforming The Physical Therapy Supplies Market
• North America was the largest region in the physical therapy supplies market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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