PUBLISHER: The Business Research Company | PRODUCT CODE: 1489309
PUBLISHER: The Business Research Company | PRODUCT CODE: 1489309
Hydrotherapy equipment refers to the specialized tools and devices used in hydrotherapy, which is a form of physical therapy that utilizes water to treat various medical conditions and promote healing. These equipment are used to relieve pain and muscle spasms, gain relaxation, maintain or increase the range of joint movement, re-educate paralyzed muscles and have other therapeutic uses.
The hydrotherapy equipment market consists of sales, by entities (organizations, sole traders and partnerships) of hydrotherapy equipment that refer to a variety of tools and devices designed to facilitate therapeutic treatments using water to treat a variety of symptoms throughout the body. Hydrotherapy uses the water as a supportive tool to reduce stress on muscles and joints during treatment.
The global hydrotherapy equipment market was valued at $2,407.1 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 3.0%.
Increased Disposable Income Per Capita
Increased disposable incomes per capita fueled the growth of the hydrotherapy equipment market during the historic period. With increased disposable incomes, individuals invested in personal health and wellness, including hydrotherapy equipment. Affordability of upfront costs allowed consumers to purchase equipment for home use or access services at specialized facilities, broadening market accessibility. This trend contributed to market expansion by appealing to a wider demographic. For instance, in November 2023, according to the Bureau of Economic Analysis (BEA), a US-based government agency that provides official macroeconomic and industry statistics, disposable personal income per capita in the United States increased to $61,047 in November 2023 from $57,339 in November 2022. Additionally, in February 2023, according to estimates from the National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI), India's per capita net national income was INR 172,000 ($2,077.35). This is a nearly 100% increase over the INR 86,647 ($1,046.49) per capita income in 2014-15. Therefore, increased disposable incomes per capita drove the growth of the hydrotherapy equipment market.
Launch Of Innovative Products And Features To Enhance The Therapeutic Benefits
Companies operating in the hydrotherapy equipment market are focusing on introducing innovative hydrotherapy equipment products and features to enhance the therapeutic benefits, comfort and sustainability of their offerings, catering to the evolving preferences and requirements of consumers and healthcare professionals. For instance, in January 2023, Hydro Physio, a UK-based aquatic therapy treadmill manufacturing company, launched the new Active Hydrotherapy Trainer, its new hydrotherapy system for improving general fitness and rehabilitation following injury or surgery without putting stress on the joints. Hydro Physio's new trainer aims to transform rehabilitation for recovering patients. This system offers a hygienic aquatic therapy space, featuring a treadmill chamber, an entrance foyer and integrated water management equipment, providing an innovative solution for individualized rehabilitation needs. Furthermore, in May 2022, HydroWorx, a US-based exercise pool and underwater treadmill and jet machine manufacturing company, launched a new product line for animal health to expand into veterinary medicine. HydroWorx introduced the Pet Therapy line, featuring the K900 underwater treadmill system. Crafted from medical-grade stainless steel with a walk-through design, it offers clinicians 360-degree visibility. The K900 ensures safe and effective pet rehabilitation with adjustable incline and reverse operation capabilities.
The global hydrotherapy equipment market is fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 8.71% of the total market in 2022
Hydrotherapy Equipment Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global hydrotherapy equipment market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for hydrotherapy equipment? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The hydrotherapy equipment market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider hydrotherapy equipment market; and compares it with other markets.