Hydrotherapy Equipment Global Market Opportunities and Strategies to 2033

This report describes and explains the hydrotherapy equipment market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global hydrotherapy equipment market reached a value of nearly $2.8 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.3% since 2018. The market is expected to grow from $2.8 billion in 2023 to $3.71 billion in 2028 at a rate of 5.6%. The market is then expected to grow at a CAGR of 6.1% from 2028 and reach $5 billion in 2033.

Growth in the historic period resulted from the increased disposable income per capita, increasing demand for non-invasive treatment options, rising incidence of musculoskeletal disorders and pain management and increasing focus on rehabilitation. Factors that negatively affected growth in the historic period were high initial investment costs for setting up hydrotherapy facilities.

Going forward, the increasing aging populations worldwide, rising healthcare expenditure, growing incidence of chronic diseases and rise in sports-related injuries or spinal cord injuries will drive the growth. Factor that could hinder the growth of the hydrotherapy equipment market in the future include high initial investment costs for setting up hydrotherapy facilities.

The hydrotherapy equipment market is segmented by type into chambers or tanks, hydrotherapy pools, hydrotherapy tub or bath, underwater treadmill and other types. The hydrotherapy pools market was the largest segment of the hydrotherapy equipment market segmented by type, accounting for 35.5% or $1 billion of the total in 2023. Going forward, the hydrotherapy tub or bath segment is expected to be the fastest growing segment in the hydrotherapy equipment market segmented by type, at a CAGR of 6.5% during 2023-2028.

The hydrotherapy equipment market is segmented by application into pain management, dermatology, cardiology and other applications. The pain management market was the largest segment of the hydrotherapy equipment market segmented by application, accounting for 42.9% or $1.2 billion of the total in 2023. Going forward, the cardiology segment is expected to be the fastest growing segment in the hydrotherapy equipment market segmented by application, at a CAGR of 6.5% during 2023-2028.

The hydrotherapy equipment market is segmented by end-user into spa and wellness centers, hospitals, rehabilitation centers and other end-users. The spa and wellness centers market was the largest segment of the hydrotherapy equipment market segmented by end-user, accounting for 51.4% or $1.5 billion of the total in 2023. Going forward, the hospitals and rehabilitation centers segment is expected to be the fastest growing segment in the hydrotherapy equipment market segmented by end-user, at a CAGR of 6.1% during 2023-2028.

North America was the largest region in the hydrotherapy equipment market, accounting for 38.6% or $1.1 billion of the total in 2023. It was followed by Western Europe, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the hydrotherapy equipment market will be Asia Pacific and Western Europe where growth will be at CAGRs of 6.7% and 5.8% respectively. These will be followed by North America and Eastern Europe where the markets are expected to grow at CAGRs of 5.5% and 5.1% respectively.

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. Jaccuzi Inc was the largest competitor with a 3.75% share of the market, followed by BTL Corporate with 3.38%, SwimEx Inc with 0.67%, Hydro Physio Ltd with 0.21%, Sidmar Manufacturing Inc with 0.19%, Endless Pools with 0.14%, Master Spas with 0.12%, HydroWorx International Inc with 0.11%, Dynasty Spas with 0.10% and H2O for Fitness with 0.05%.

The top opportunities in the hydrotherapy equipment market segmented by type will arise in the hydrotherapy pools segment, which will gain $325.1 million of global annual sales by 2028. The top opportunities in the hydrotherapy equipment market segmented by application will arise in the pain management segment, which will gain $382.6 million of global annual sales by 2028. The top opportunities in the hydrotherapy equipment market segmented by end-user will arise in the spa and wellness centers segment, which will gain $438.7 million of global annual sales by 2028. The hydrotherapy equipment market size will gain the most in the USA at $288.2 million.

Market-trend-based strategies for the hydrotherapy equipment market include focus on launch of innovative products and features to enhance the therapeutic benefits, focus on introduction of new portable hydrotherapy pools to deliver aquatic therapy, focus on strategic partnerships and acquisitions to enhance product offerings and focus on installation of new hydrotherapy units at healthcare facilities to promote well-being.

Player-adopted strategies in the hydrotherapy equipment market include focus on enhancing its business operations through investments.

To take advantage of the opportunities, the analyst recommends the hydrotherapy equipment companies to focus on innovation in hydrotherapy equipment, focus on portable hydrotherapy pools for expanded accessibility, focus on healthcare facility installations for enhanced patient care, focus on hydrotherapy tub or bath and hydrotherapy pools segments, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships and acquisitions, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions, focus on pain management and cardiology applications and focus on spa and wellness centers and hospitals.