Physiotherapy is widely available in Singapore and is covered by most insurance plans due to which the Singapore physiotherapy market is expected to grow with a market size of about $64 Mn to $101 Mn with a CAGR of 5.85% for the period 2022-2030. As the population ages and the prevalence of chronic conditions increases, more will be growth in the physiotherapy market in Singapore. The market is segmented by equipment, application, and by service type. Some of the major companies in the Singapore physiotherapy market are BTL, DJO Global, and Enraf-Nonius.
The Singapore physiotherapy market size is at around $64 Mn in 2022 and is projected to reach $101 Mn in 2030, exhibiting a CAGR of 5.85% during the forecast period 2022-30. In Singapore, the cost of healthcare accounted for almost 5.7% of the GDP in 2019. Compared to the 9.9% global average, this is noticeably higher. Singapore's extensive healthcare system, which offers all residents and citizens coverage, as well as the city-cutting-edge state's medical facilities and technology, are some of the factors contributing to the high cost of healthcare there.
Physiotherapy is widely available in Singapore and is covered by most insurance plans, including those offered by the government. Physiotherapists in Singapore typically work in hospitals, clinics, and private practices, and may also be employed in rehabilitation centers, nursing homes, and other healthcare facilities. The demand for physiotherapy services in Singapore is likely to continue to grow as the population ages and the prevalence of chronic conditions increases.
Market Growth Drivers
The prevalence of chronic conditions such as diabetes, heart disease, and obesity are increasing in Singapore, which may lead to an increase in the need for physiotherapy services to help manage these conditions and a growing emphasis on preventative healthcare in Singapore, which may lead to more people seeking physiotherapy services as a way to prevent injuries and maintain their health and well-being.
Market Restraints
Physiotherapy services in Singapore may be expensive, especially for those who do not have insurance coverage which could discourage some people from seeking physiotherapy services, and the presence of competition from other healthcare providers, such as chiropractors or massage therapists, which could potentially limit the growth of the physiotherapy market in Singapore.
Key Players
In Singapore, physiotherapy is covered under the Medisave and Medishield Life schemes, which are national healthcare savings and insurance programs. Patients can use their Medisave funds to pay for physiotherapy treatments at approved clinics and hospitals. Medishield Life, on the other hand, covers hospitalization and certain outpatient treatments, including physiotherapy, for those with chronic conditions. Additionally, the government provides subsidies for certain groups of patients, such as low-income individuals and senior citizens, to help them afford physiotherapy treatments. Medisave claims for physiotherapy are subject to a daily claim limit. The amount that can be claimed depends on the type of treatment and the patient's condition.
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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