The existing researchers devoted to the investigation of body vibration therapy and its effects on the body outline the existence of the positive outcomes. In the majority of cases, it becomes useful in reducing pain in patients with osteoporosis (Ruan et al., 2008). Moreover, there are some other options for applying devices of this sort. For this reason, it is possible to admit the existence of a significant business potential related to the development of the MBE Ltd. Project.
As for the financial aspect of the discussed issue, the physical therapy market size is about $34billion, with stable growth of about 6.2% per year (LaRosa, 2019). It is forecasted that by 2023 it will achieve $47 billion and continue to grow (LaRosa, 2019). Moreover, there is a constantly increasing number of clinics and patients who need this service (LaRosa, 2019). For this reason, it is possible to conclude the favorable market environment that encourages a new project.
Forecasts related to body vibration therapy are also optimistic. Its ability to manage pain in patients with osteoporosis and other chronic conditions becomes a serious advantage that contributes to the further spread of the technology and increased demand for it (Ruan et al., 2008). The growth in the number of clients with similar health issues is another factor that justifies positive forecasts.
In such a way, MBE Ltd. can benefit from the existing factors. The ability of the given therapy to reduce pain is vital for the market and demanded by clients who are ready to pay for it. That is why it can be recommended to enter the market and continue financing the development of the given device and project to generate a competitive advantage and hold leading positions.
References
- LaRosa, J. (2019).U.S. physical therapy clinics constitute a growing $34 billion industry. Market Research. Web.
- Ruan, X., Jin, F., Liu, Y., Peng, Z., & Sun, Y. (2008). Effects of vibration therapy on bone mineral density in postmenopausal women with osteoporosis. Chinese Medical Journal, 121(13), 1155-1158.