India Physiotherapy Market Analysis Report 2022 to 2030

India Physiotherapy Market Analysis

$ 3999

India's physiotherapy market size was valued at $0.96 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 8.85% from 2022 to 2030 and will reach $1.9 Bn in 2030. This market is expected to grow due to an increase in the number of people suffering from chronic conditions including diabetes and obesity as well as an aging population. The market is segmented by Product Type, Application Type, and End User. The key players are BTL Industries. Performance Health, ITO Co., Ltd., Enraf-Nonius B.V., and others.

ID: IN10INHS016 CATEGORY: Healthcare Services GEOGRAPHY: India

Buy Now

India Physiotherapy Market Executive Summary

India's physiotherapy market size was valued at $0.96 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 8.85% from 2022 to 2030 and will reach $1.9 Bn in 2030. With a population of more than 1.2 Bn, India is the world’s largest democracy. Over the past decade, the country’s integration into the global economy has been accompanied by economic growth. India has now emerged as a global player. Since the 2000s, India has made remarkable progress in reducing absolute poverty. Between 2011 and 2015, more than 90 Mn people were lifted out of extreme poverty. Healthcare has become one of India’s largest sectors, both in terms of revenue and employment. Rising income, higher health awareness, lifestyle disorders, and more access to insurance are predicted to boost the Indian healthcare market to $ 372 Bn by 2022. As of 2021, the Indian healthcare sector is one of India’s largest employers as it employs a total of 4.7 Bn people. The sector generated 2.7 Mn additional jobs in India between 2017-22, over 500,000 new jobs per year.

The healthcare services industry is composed of businesses, single proprietorships, and partnerships that provide human healthcare services and sell healthcare services and associated products. Businesses in this industry provide nursing care, residential substance abuse, and mental health facilities, dental treatment, and medical and diagnostic laboratory services, among other healthcare services. The primary categories of healthcare services include residential substance abuse and mental health facilities, hospitals and outpatient care facilities, doctors and other health practitioners, all other ambulatory healthcare services, ambulance services, dental services, home health care, residential nursing care services, and medical and diagnostic laboratory services. Hospitals and outpatient care centers offer medical diagnosis and treatment to patients with a range of medical problems.

There is a huge burden of chronic diseases and a growing aging population which results in huge demand for the physiotherapy market in India. Physiotherapy is the major factor for standalone clinics/rehab centers and home healthcare careers in India, consequently, these factors provide an opportunity for industry growth. In India, the physiotherapy market is growing because of unhealthy eating habits and hectic lifestyles resulting in pain in the ligaments, nerves, muscles, back, and neck and increasing prevalence of stroke and Parkinson’s disease. There is a huge focus on sports in India which leads to great growth in the physiotherapy market.

India Physiotherapy Market

Market Dynamics

Market Growth Drivers

The main objectives of physical therapy and other rehabilitation treatments are to increase strength and mobility and discover solutions for any issues. A physical therapist may advise using walking aids and engaging in exercises to strengthen the body and improve balance if a patient has fallen. In addition, rehabilitation can assist in managing exhaustion due to asthma, chronic fatigue syndrome, or following major surgery. For patients who experience or are at risk of having a short- or long-term disability as a result of their injuries or illnesses, rehabilitation therapy is a crucial component of their care. Both patients and caregivers have benefited greatly from the integration of rehabilitative treatment into the healthcare continuum. As a result, many healthcare facilities are integrating rehabilitation care as an essential part of their care continuum. This has resulted in an increasing demand for rehabilitation equipment and, indirectly, physiotherapy equipment as well.

Market Restraints

Changes in healthcare insurance coverage and rules have a significant impact on individuals' out-of-pocket expenses. This could result in differences in services and have an effect on the standard of care. Patients frequently have to pay out of cash due to differences in coverage between and between federal and private payers. Before co-insurance kicks in, patients can be responsible for a co-pay, co-insurance, facility fees, and reaching a large deductible. Co-pays for some physiotherapy procedures can be very expensive. The accompanying expenditures may restrict patients' access to treatments, preventing them from receiving therapy in some cases. On the other hand, some patients might be unable to return to work or carry out their daily activities.

Additionally, patients are subjected to arbitrary annual visit caps that do not correspond to the initial diagnosis or severity criteria.

Competitive Landscape

Key Players

The prominent players operating in this market include:

BTL Industries
Performance Health
ITO Co., Ltd.
Enraf-Nonius B.V.
Dynatronics Corporation
Medtronic
Whitehall Manufacturing
Zimmer MedizinSysteme GmbH
Zynex Inc
Richmar
Storz Medical AG
Mettler Electronics Corp,
Power Medic

Notable Recent Deals

September 5, 2019 - ProPhysio, a Bengaluru-based startup that deals in Physiotherapy and rehabilitation services have raised an undisclosed amount of funding from the NestaVera Group of companies. The company will use this investment to further accelerate its growth and build new products and services. It will also explore technology with AI-driven solutions to treat various health issues and reach out to a larger consumer demographic in multiple locations across India at the clinic and extended care at home.

Healthcare Policies and Regulatory Landscape

There are different government schemes and policies which offer cover for Physiotherapy under them, such as under Central Government Health Scheme (CGHS), the beneficiary has been permitted by the competent authority or treatment under emergency from the time of admonition to discharge including physiotherapy charges. In India private insurance cover physiotherapy charges, if a health insurance policy offers coverage for Out Patient Department (OPD) or day-care procedures, then physiotherapy is covered under it, even if it is not linked to surgery.

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

India 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
Continuous 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

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.