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.
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 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.
Key Players
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
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.
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
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.
Methodology for Database Creation
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