Spain Physiotherapy Market Analysis

Spain Physiotherapy Market Analysis


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The Spain physiotherapy market size was valued at $1.02 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 4.35% from 2022 to 2030 and will reach $1.5 Bn in 2030. Spain physiotherapy market is expected to grow due to, an increase in chronic diseases, an aging population, and a growing awareness on physiotherapy. The market is segmented by Product Type, Application Type and End User. The major players in the Spain physiotherapy market Fisio Equipment, Fisioterapia-movil, Fisio-line, Physiomed and others.

ID: IN10ESHS016 CATEGORY: Healthcare Services GEOGRAPHY: Spain

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Spain Physiotherapy Market Executive Summary

The Spain physiotherapy market size was valued at $1.02 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 4.35% from 2022 to 2030 and will reach $1.5 Bn in 2030. Spain's healthcare expenditure as a percentage of GDP is around 9.6% as of 2021. This is considered to be a relatively high level of expenditure when compared to other countries. The Spanish government funds most of the healthcare expenditures through taxes and social security contributions. The country has a public healthcare system that provides universal coverage to all citizens.

Physiotherapy services in Spain can include a wide range of treatments such as manual therapy, exercise therapy, electrotherapy, ultrasound therapy, and other techniques to help patients recover from injuries, surgeries, or conditions that affect mobility and function.

This report also notes that there are many small and medium-sized businesses working in the sector, which contributes to the market's extreme fragmentation. In Spain, physical therapy is most frequently provided in hospitals, rehabilitation facilities, nursing homes, and private offices.

Spain Physiotherapy Market Analysis

Market Dynamics

Market Growth Drivers

Spain's Physiotherapy market growth is driven by a number of factors, including an aging population and increasing incidence of chronic conditions such as obesity, diabetes, and cardiovascular disease, which require physiotherapy services. Additionally, the increasing awareness of the benefits of physiotherapy and the government's efforts to improve access to healthcare services are also contributing to the growth of the market.

Market Restraints

The reimbursement rates for these services are very low, which may restrict certain patients' access to these therapies even though physiotherapy is covered by Spain's national healthcare system and patients are typically compensated for a portion of the treatment costs. Despite the fact that physiotherapy treatments are offered in Spain, access might occasionally be restricted, especially in remote or underserved areas, which will constrain the country's physiotherapy market.

Competitive Landscape

Key Players

  • Fisio Equipment (ESP)
  • Fisioterapia-movil (ESP)
  • Fisio-line (ESP)
  • Physiomed (ESP)
  • BTL Industries
  • EMS Physio Ltd.
  • DJO Global, Inc.
  • Dynatronics Corporation, Inc.
  • Medline Industries
  • Performance Health

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario of Spain Physiotherapy Market

In Spain, the regulatory body for physiotherapy equipment is the Spanish Agency for Medicines and Medical Devices (AEMPS). This agency is responsible for the regulation and control of medical devices in Spain, including physiotherapy equipment. The AEMPS is responsible for ensuring that all physiotherapy equipment sold in Spain meets certain safety and performance standards and that they are labeled and marketed correctly.

The AEMPS works closely with the European Medicines Agency (EMA) and the European Union (EU) to ensure that all physiotherapy equipment sold in Spain complies with EU regulations. All physiotherapy equipment must be CE marked to indicate that it meets the essential requirements of the EU Medical Devices Directive before it can be sold in Spain.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Physiotherapy Market Segmentation

By Product: (Revenue, USD Billion):

Based on product, the physiotherapy equipment market is divided into two major segments, namely, equipment and accessories. The equipment segment accounted for the largest share of the physiotherapy equipment market in 2021. The equipment segment is further segmented into electrotherapy equipment, ultrasound equipment, exercise therapy equipment, heat therapy equipment, cryotherapy equipment, combination therapy equipment, continuous passive motion therapy equipment, shockwave therapy equipment, laser therapy equipment, magnetic pressure therapy equipment, traction therapy, and other physiotherapy equipment (hydrotherapy and vacuum therapy). Owing to the increasing use of electrotherapy equipment in the treatment of musculoskeletal disorders and owing to increasing concerns for patients’ safety and minimal/no side-effects during the physiotherapy treatments.

  • Equipment
  • Electrotherapy equipment
  • Ultrasound equipment
  • Exercise therapy equipment
  • Heat therapy equipment
  • Cryotherapy equipment
  • Combination therapy equipment
  • Continous passive motion therapy equipment
  • Shockwave therapy equipment
  • Laser therapy equipment
  • Magnetic pressure therapy equipment
  • Traction therapy
  • Other physiotherapy equipment
  • Accessories
  • Manual Therapy
  • Specialized treatment
  • Joint Mobilization Techniques
  • Suspension Therapy
     

By Application (Revenue, USD Billion):

Based on application, the physiotherapy equipment market is segmented into musculoskeletal applications, neurological applications, cardiovascular and pulmonary applications, pediatric applications, gynecological applications, and other applications (including sports and palliative care). The musculoskeletal applications segment holds a dominating share attributed to the increasing adoption of physiotherapies to accelerate recovery of accidental injuries, rising incidence of musculoskeletal disorders, and growth in the geriatric population.

By Applications

  • Musculoskeletal applications
  • Neurological applications
  • Cardiovascular and pulmonary applications
  • Pediatric applications
  • Gynecological applications
  • Other applications

By End-user (Revenue, USD Billion):

Based on end users, the physiotherapy equipment market is segmented into physiotherapy & rehabilitation centers, hospitals, home care settings, physician offices, and other end users (community health centers and elderly care facilities). In 2021, the physiotherapy & rehabilitation centers segment accounted for the largest share of the physiotherapy equipment market due to increasing demand for advanced physiotherapy equipment and their wide usage across the care continuum across these centers.

  • Physiotherapy & Rehabilitation centers
  • Hospitals
  • Home care settings
  • Physician offices
     

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 17 January 2023
Updated by: Vidhi Upadhyay

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