Physical therapists provide physiotherapy to promote, maintain, or restore health. Magnetotherapy is a technique in which a magnetic field is used to restore cellular biochemical balance for curative and therapeutic purposes. This technique favors tissue regeneration and is used to treat some chronic diseases, traumas, and many more. However, it is not used during pregnancy, viral diseases, heart diseases, tumor diseases, hyperthyroidism, and many more cases.
MARKET SCOPE
The "Global Magnetotherapy Machine Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the magnetotherapy machine market with detailed market segmentation by product, application, and geography. The report provides key statistics on the market status of the leading magnetotherapy machine market players and offers key trends and opportunities in the market.MARKET SEGMENTATION
- Based on product, the global magnetotherapy machine market is segmented into magnetostatic therapy and dynamic magnetic therapy.
- Based on application, the market is segmented into homecare, hospital & clinic and laboratory.
MARKET DYNAMICS
Drivers:
- Increase in incidences of injuries and pain in body ligaments, nerves, muscles, back & neck.
- The growing number of road accidents.
- Increase in the number of physiotherapy clinics.
- Growing prevalence of chronic diseases.
- Rapid rise in the geriatric population.
Restraints:
- Shortage of skilled professionals to operate the specialized equipment.
- High maintenance cost.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The magnetotherapy machine market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the magnetotherapy machine market in these regions.
IMPACT OF COVID-19 ON MAGNETOTHERAPY MACHINE MARKET
COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The pandemic has affected the economies and industries of various countries due to lockdowns, business shutdowns, and travel bans. Moreover, many physiotherapists and other healthcare-related professionals were being deployed in hospitals and other facilities due to a shortage of healthcare professionals. Furthermore, there were limitations and bans on elective surgeries and medical procedures to reduce virus transmission. The restrictions hampered the magnetotherapy machine market growth as restrictions caused various plants and factories to shut down, which affected the global supply chains. Therefore, the growth of the market was impacted during the pandemic. However, with the removal of restrictive measures, the market may witness growth in the future.
MARKET PLAYERS
The report covers key developments in the magnetotherapy machine market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from magnetotherapy machine market are anticipated to have lucrative growth opportunities in the future with the rising demand for magnetotherapy machine in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the magnetotherapy machine market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Celtic SMR
- BTL Corporate
- EMD Medical Technologies
- Iskra Medical
- Curatronic Ltd.
- Swiss Bionic Solutions Holding GmbH
- BEMER
- Asalaser
- Globus Italia
- Physiomed
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.