New Zealand Physiotherapy Market Analysis

New Zealand Physiotherapy Market Analysis


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The New Zealand physiotherapy market size was valued at $xx Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of xx% from 2022 to 2030 and will reach $xx Bn in 2030. New Zealand's physiotherapy market is expected to grow due to a hectic lifestyle that causes pain in the ligaments, nerves, muscles, back, and neck, as well as an increase in the prevalence of stroke and Parkinson's disease. The market is segmented by Product Type, Application Type, and End User. The major players in the New Zealand physiotherapy market are ACC (Accident Compensation Corporation), Physiotherapy New Zealand, SportsMed Physiotherapy, BTL Industries, DJO Global, Inc., and others.

ID: IN10NZHS016 CATEGORY: Healthcare Services GEOGRAPHY: New Zealand

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New Zealand Physiotherapy Market Executive Summary

The New Zealand physiotherapy market size was valued at $xx Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of xx% from 2022 to 2030 and will reach $xx Bn in 2030. New Zealand's GDP was approximately $197 Bn in 2020. The country's healthcare expenditure as a percentage of GDP was around 8.9% in 2018. The New Zealand government provides universal healthcare coverage through its public healthcare system, which is funded by taxes. The government also provides subsidies for certain medical treatments and prescription drugs.

The New Zealand physiotherapy market is anticipated to be driven by poor eating practices, a hectic lifestyle that causes pain in the ligaments, nerves, muscles, back, and neck, as well as an increase in the prevalence of stroke and Parkinson's disease. Physical therapy provides additional benefits; thus, doctors have started recommending it to patients, and this has increased the demand for physical therapy equipment.  In New Zealand, the awareness of physical fitness and physiotherapy has increased due to which the physiotherapy services rising in New Zealand.

Market Dynamics

Market Growth Drivers

In New Zealand, the importance of physiotherapy-based rehabilitative care is increasing as more individuals have access to cutting-edge medical, emergency, and trauma care. Rehabilitation therapy is an essential part of patient care for those who have or are at risk of having short- or long-term disabilities as a result of their illnesses or accidents. The inclusion of rehabilitative therapy in the continuum of care has had significant positive effects on patients and carers alike. By providing better treatment and hastening patient recovery, shorter patient admission times enable healthcare providers to meet the requirements for value-based care. Additionally, patients can ensure the greatest outcomes for both medical and surgical procedures. As a result, many healthcare facilities now consider rehabilitation therapy to be an essential part of their overall care strategy. As a result, there is now a greater need for physiotherapy equipment as well as equipment for rehabilitation.

Market Restraints

Due to unstable reimbursement scenarios for physiotherapy, changes in healthcare insurance coverage and rules have a significant impact on individuals' out-of-pocket expenses. This can result in variations in services and have an effect on the standard of care. Additionally, patients are subjected to arbitrary visit restrictions each year that do not correspond to the severity or original diagnosis criteria, which causes variations in the course of rehabilitation and consequences. As a result, most patients receive more therapy than is covered by insurance, leaving them with no choice but to pay out of pocket if they want to keep getting services. Variations in coverage will therefore hinder the expansion of the physiotherapy equipment market as a whole.

Competitive Landscape

Key Players

  • ACC (Accident Compensation Corporation) (NZL)
  • Physiotherapy New Zealand (NZL)
  • SportsMed Physiotherapy (NZL)
  • Body in Motion Physiotherapy (NZL)
  • BTL Industries
  • DJO Global, Inc.
  • EMS Physio Ltd.
  • Kinetec
  • Thera-Band
  • Mettler Electronics
  • Chattanooga Group
  • Isokinetics, Inc.
  • Algeo Limited
  • Dynatronics Corporation, Inc.

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario of the New Zealand Physiotherapy Market

In New Zealand, physiotherapy equipment is regulated by the Ministry of Health. The Ministry sets standards for the safety and quality of medical devices, including physiotherapy equipment, by the Medical Devices Safety Authority (MDSA). The MDSA also oversees the registration and monitoring of medical devices in New Zealand.

Moreover, to compliance with the Ministry of Health regulations, physiotherapy equipment in New Zealand must comply with relevant international standards, such as the International Electrotechnical Commission (IEC) standards for electrical safety. It's also important to note that in New Zealand, physiotherapy equipment can be used only by physiotherapists or other healthcare professionals who have been trained and authorized to use the equipment.

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
     

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.

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Last updated on: 18 January 2023
Updated by: Anish Swaminathan

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