Medical Device | Healthcare | Biotechnology | Pharmaceuticals

The  physiotherapy equipment market  is projected to reach USD 21.1 billion by 2024 from USD 15.1 billion in 2018, at a CAGR of 5.8%. The growth of this market is primarily driven by rapidly growing geriatric population and the subsequent increase in the global prevalence of chronic diseases, and growing incidence of sports injuries, degenerative joint disorders, and cerebrovascular disease. The elderly are more susceptible to various chronic and debilitating diseases. According to the World Health Organization (WHO), the incidence of strokes, dementia, and hip fractures increase exponentially with age; these are common afflictions in people over 85 years of age. Thus, the aging population, afflicted by some form of disability, will drive the market. Moreover, non-communicable diseases (such as heart diseases, cancer, and diabetes) account for about 87% of the disease burden in the aged population in low-, middle-, and high-income countries. The elderly will require thre...