Rehabilitation Equipment Market By Product Type (Mobility Aids, Daily Living Aids, Exercise Equipment, Body Support Devices), By Application (Physiotherapy, Occupational Therapy, Others), By End User (Hospitals and Clinics, Rehabilitation centers, Homecare Settings): Global Opportunity Analysis and Industry Forecast, 2021-2031
The rehabilitation equipment market was valued at $19,506.10 million in 2021 and is estimated to reach $41,293.28 million by 2031, exhibiting a CAGR of 7.7% from 2022 to 2031. Rehabilitation is a process of helping an individual to recover from an injury, illness, or addiction. It typically involves physical, mental, and emotional therapies and treatments that help the person to regain their physical and psychological health. Rehabilitation equipment is any type of device or tool that is designed to help individuals who have suffered from an injury, illness, or disability to regain strength, mobility, and independence. This equipment can range from simple items such as walkers and canes to more complex items such as treadmills and elliptical machines. Rehabilitation equipment can also include equipment that are used in physical therapy such as balance boards, exercise balls, and resistance bands which can help with physical rehabilitation, strengthening, and conditioning. Additionally, rehabilitation equipment can also include wheelchairs and powerchairs, which can help individuals with physical disabilities or impairments to improve their mobility and independence.
The key factor that drives the growth of the rehabilitation equipment market is the increase in the prevalence of chronic diseases such as arthritis and Parkinson’s disease, and the surge in the geriatric population. For instance, according to the Parkinson Foundation in 2021, Parkinson's is the second-most common neurodegenerative disease after Alzheimer's disease and about 90,000 people in the U.S. are diagnosed with Parkinson's disease each year. In addition, according to EClinicalMedicine, 2020, it was estimated that about 22% of adults around the world who are aged above 40 years have knee osteoarthritis. Thus, rapid growth in the geriatric population and the rise in the prevalence of chronic diseases such as osteoarthritis and Parkinson’s disease boost the growth of the market.
However, the high cost of rehabilitation equipment hampers the market growth. Conversely, increased investments in R&D for the development of rehabilitation equipment such as walkers, wheelchairs and canes, as well as increased technological advancements and modernization in the healthcare industry are projected to open up new market potential for rehabilitation equipment and are expected to provide lucrative opportunity for the growth of the market during the forecast period.
The rehabilitation equipment market is segmented on the basis of product type, application, end-user, and region. By type, the market is classified into daily living aids, exercise equipment, body support devices and mobility aids. By application, it is divided into physiotherapy, occupational therapy, and others. By end user, the market is categorized into hospitals, rehabilitation centers, and home care. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America accounted for a majority of the rehabilitation equipment market share in 2021 and is anticipated to remain dominant during the forecast period. The rehabilitation equipment market is mainly driven by well-established healthcare facilities for medical devices, the surge in the geriatric population, and the rise in the prevalence of arthritis, Parkinson’s disease, and musculoskeletal disorders.
Furthermore, the rise in technologically advanced rehabilitation equipment such as personal mobility devices is expected to fuel market growth. Asia-Pacific is expected to register the fastest CAGR during the forecast period. This is due to the increase in the prevalence of orthopedic and neurological disorders, the rise in the geriatric population, and the increase in awareness about physical rehabilitation. Furthermore, an increase in investments in healthcare infrastructure contributes toward the growth of the rehabilitation equipment market in the Asia-Pacific. The governments of various countries in the region are investing heavily in healthcare infrastructure and promoting the development of advanced rehabilitation equipment. Thus, an increase in investments in healthcare infrastructure contributes toward the growth of the rehabilitation equipment market in the region.
The key players that operate in the rehabilitation equipment market include Medline Industries Inc., Invacare Corporation, Ekso Bionics, GF Health Products, Inc., Caremax Rehabilitation Equipment Co. Ltd, Baxter International Inc., and Hospital Equipment Mfg. Co, Roma Medical, ReWalk Robotics, and Drive DeVilbiss Healthcare.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the rehabilitation equipment market analysis from 2021 to 2031 to identify the prevailing rehabilitation equipment market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the rehabilitation equipment market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global rehabilitation equipment market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Product TypeMobility Aids
Type
Wheelchairs
Scooters
Walking Aids
Daily Living Aids
Type
Medical Beds
Bathroom and Toilet Assist Devices
Others
Exercise Equipment
Type
Upper Body Exercise Equipment
Lower Body Exercise Equipment
Body Support Devices
Type
Patient Lifts
Medical Lifting Slings
By ApplicationOthers
Physiotherapy
Occupational Therapy
By End UserHospitals and Clinics
Rehabilitation centers
Homecare Settings
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
GF Health Products, Inc.
ReWalk Robotics Ltd.
Medical Depot, Inc.
Roma Medical
Hospital Equipment Mfg. Co.
Medline Industries, LP
Baxter International Inc.
Caremax Rehabilitation Equipment Co. Ltd
Invacare Corporation
Ekso Bionics
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