Rehabilitation Equipment - Market Insights, Competitive Landscape, and Market Forecast - 2030

Rehabilitation Equipment - Market Insights, Competitive Landscape, and Market Forecast - 2030

Rehabilitation Equipment Market By Product Type (Body Support Equipment, Mobility Equipment, Exercise Equipment, And Others), Application (Physiotherapy, Occupational Therapy, And Others), End-User (Hospitals And Clinics, Rehabilitation Centers, Home Care Settings, And Others), and geography is expected to grow at a steady CAGR forecast till 2030 owing to the rising number of accidents, injuries and falls, along with the growing awareness of present rehabilitation equipment, among others

The global Rehabilitation Equipment market was valued at USD 14.5 billion in 2023, growing at a CAGR of 5.1% during the forecast period from 2024 to 2030. The demand for rehabilitation equipment is primarily being boosted owing to key factors such as the rising number of accidents, injuries, and falls, growing awareness of rehabilitation equipment, recovery, and therapy among people, the rising technological advancements with new product offerings, among others in the rehabilitation market during the forecast period from 2024-2030.

Rehabilitation Equipment Market Dynamics:

One of the major factors influencing the growth of the rehabilitation equipment market is the rising incidence of sports-related injuries and spinal ailments. According to the Insurance Information Institute (National Safety Council), in the year 2020, bicycling accounted for about 426,000 injuries globally, the most of any category of sports and recreation. Also, as per the same source worldwide, exercise, with or without equipment, is followed by about 378,000 injuries globally, while ATV, moped, and minibike use with 230,000 injuries, and skateboard, scooter, and hoverboard use, with 218,00 injuries, ranked third and fourth globally. According to the National Safety Council 2022, bicycle and accessory injuries increased globally from 417,485 in 2019 to 425,910 injuries in 2020.

Therefore, owing to the abovementioned factors, there is a growing need for rehabilitation equipment in the market globally, which allows for faster recovery of musculoskeletal conditions, sports-related injuries, and spinal ailments, thereby leading to the overall growth of the global rehabilitation equipment market.

Along with the above-stated factors, the rising number of innovations in the rehabilitation equipment sector is also expected to drive the market demand for rehabilitation equipment types of equipment. For instance, in January 2022, Lusio Rehab, a UK assistive technology startup launched a wearable rehabilitation device called LusioMATE motivating patients to engage more with their physical therapy and rehab programs. The device could be used in a variety of therapeutic settings and specialties, including outpatient clinics, home or community-based rehab, and acute in-patient stroke rehab.

Hence, due to the growing awareness of rehabilitation equipment and rising product launches, the demand for them is likely to increase which is likely to propel the growth of the overall rehabilitation equipment market during the forecast period from 2024-2030.

However, the high cost of rehabilitation equipment, maintenance issues along cases of patient discomfort, among others may restrict the growth of the rehabilitation equipment market.

Rehabilitation Equipment Market Segment Analysis:

Rehabilitation Equipment Market by Product Type (Body Support Equipment, Mobility Equipment, Exercise Equipment, And Others), Application (Physiotherapy, Occupational Therapy, And Others), End-User (Hospitals And Clinics, Rehabilitation Centers, Home Care Settings, And Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the product type segment of the rehabilitation equipment market, the mobility equipment category is expected to hold the largest share in the year 2023. This can be attributed to the wide applications and advantages associated with mobility equipment during the given forecast period.

According to the World Health Organization 2021, musculoskeletal conditions are a leading contributor to disability worldwide, with low back pain being the single leading cause of disability in 160 countries.

Additionally, according to the Nogo Inhibition in Spinal Cord Injury, in the year 2020, the incidence of spinal cord injury about 10,000 newly injured people per year in Europe, and due to a normal life expectancy, more than 200,000 patients were living with a spinal cord injury in Europe. Such a high prevalence of mobility impairments and spinal injuries raises the demand for mobility equipment during the forecast period.

Moreover, in August 2021, Invacare Corporation announced the launch of the Invacare® AVIVA® STORM RX™ power wheelchair, setting a new standard for rear-wheel drive power mobility.

Thus, owing to the applications and advantages of mobility equipment in the rehabilitation equipment market, along with the rising product launches, the interplay of all the above factors is expected to drive the growth of the mobility equipment category, thereby propelling the overall growth of the Rehabilitation Equipment market during the forecast period from 2023–2028.

North America is expected to dominate the overall Rehabilitation Equipment Market:

Among all the regions, North America is expected to hold the largest share of the global Rehabilitation Equipment market in 2022. Some of the factors responsible for the growth of North America’s rehabilitation equipment market are the increasing number of people with disabilities, product development activities such as launches and approvals, presence of high-tech medical facilities in the region will influence the growth of the rehabilitation equipment market in the region.

Furthermore, the presence of key market players and the rising research and development activities on Rehabilitation Equipment is also driving the market growth for Rehabilitation Equipment in North America.

According to statistics by the Centers for Disease Control and Prevention (CDC), Disability and Health Data System (DHDS) (2023), currently, 12.1% of U.S. adults have a mobility disability with serious difficulty walking or climbing stairs. Along with this, 12.8% of U.S. adults have a cognition disability with serious difficulty concentrating, remembering, or making decisions. The source further mentioned that currently, 41.6% of adults with a disability are obese while 29.6 percent of adults without a disability are obese.

Furthermore, in February 2020, UPnRIDE Robotics Ltd., the U.S. Food and Drug Administration (FDA) cleared the UPnRIDE™ Robotic Standing Wheelchair for marketing and use in the U.S. This is the first and only smart and robotic mobility device providing full functionality, both in standing and sitting positions. Therefore, the increase in the demand for rehabilitation equipment along with product launches in the region will lead to the growth of the North America Rehabilitation Equipment market during the forecast period from 2024-2030.

Rehabilitation Equipment Market Key Players:

Some of the key market players operating in the rehabilitation equipment market include Invacare Corporation, Medline Industries Inc., Drive DeVilbiss Healthcare, Ekso Bionics, Dynatronics Corporation, GF HEALTH PRODUCTS INC., Caremax Rehabilitation Equipment, Hill-Rom Services INC., Hospital Equipment Mfg. Co., ULS Robotics Co. Ltd, ReWalk Robotics, Marsi Bionics SL, Roma Medical Aids Ltd, Maddak, Inc., India Medico Instruments, and others.

Recent Developmental Activities in the Rehabilitation Equipment Market:

In April 2023, Rehabilitation robotics company Harmonic Bionics announced that the company registered their flagship exoskeleton Harmony SHR™ with the FDA as a Class II 510(k)-exempt device. Harmony SHR™ is an upper extremity robotic rehabilitation system that works with a patient’s scapulohumeral rhythm (SHR) to enable natural, comprehensive therapy for both arms. As an upper extremity exercise device, Harmony SHR may assist in the treatment of upper body movement impairments, including neurological injury, neuromuscular disease, musculoskeletal disease, musculoskeletal rehabilitation post-procedure (rotator cuff tear, etc.), and upper limb prosthetic/transplant rehab.

In September 2022, Sumitomo Pharma Co., Ltd. and MELTIN MMI announced an agreement regarding a marketing alliance in Japan for the MELTz® Hand Rehabilitation System, where the two companies jointly developed and for which MELTIN has obtained medical device certification as manufacturer and distributor. MELTz® is a medical device that takes advantage of bio-signal processing and biomimetic robot technology. Its intended use is to maintain, develop, or restore muscle strength in the upper limbs of patients undergoing rehabilitation of hand/finger paralysis due to stroke or other causes.

In January 2022, the startup Lusio Rehab – a UK assistive technology developer, launched LusioMATE, a wearable rehabilitation device designed to motivate patients to engage more with their physical therapy program. This device can also be used by therapists in clinic settings in conjunction with other rehabilitation equipment, which means that LusioMATE can seamlessly fit into a range of clinical settings and specialties.

Key Takeaways from the Rehabilitation Equipment Market Report Study

Market size analysis for current Rehabilitation Equipment market size (2023), and market forecast for 6 years (2024-2030)

Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the global Rehabilitation Equipment market.

Various opportunities available for the other competitor in the Rehabilitation Equipment market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current Rehabilitation Equipment market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for Rehabilitation Equipment Market growth in the coming future?

Target Audience who can be benefited from this Rehabilitation Equipment Market Report Study

Rehabilitation Equipment products providers

Research organizations and consulting companies

Rehabilitation Equipment-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in Rehabilitation Equipment

Various End-users who want to know more about the Rehabilitation Equipment market and the latest technological developments in the Rehabilitation Equipment market.

Frequently Asked Questions for the Rehabilitation Equipment Market:

1. What is rehabilitation equipment?

Rehabilitation equipment are those devices that help people in overcoming any form of physical or mental disability, resulting either from an injury or an illness.

2. What is the market for global Rehabilitation Equipment?

The global Rehabilitation Equipment market was valued at USD 14.5 billion in 2023, growing at a CAGR of 5.1% during the forecast period from 2024 to 2030.

3. What are the drivers for the global Rehabilitation Equipment market?

The demand for rehabilitation equipment is primarily being boosted owing to key factors such as the rising number of accidents, injuries, and falls, growing awareness of rehabilitation equipment, recovery, and therapy among people, the rising technological advancements with new product offerings, among others thus propelling the overall rehabilitation equipment market growth during the forecast period from 2024-2030.

4. Who are the key players operating in the global Rehabilitation Equipment market?

Some of the key market players operating in the Rehabilitation Equipment market include Invacare Corporation, Medline Industries Inc., Drive DeVilbiss Healthcare, Ekso Bionics, Dynatronics Corporation, GF HEALTH PRODUCTS INC., Caremax Rehabilitation Equipment, Hill-Rom Services INC., Hospital Equipment Mfg. Co., ULS Robotics Co. Ltd, ReWalk Robotics, Marsi Bionics SL, Roma Medical Aids Ltd, Maddak, Inc., India Medico Instruments, and others.

5. Which region has the highest share in the Rehabilitation Equipment market?

North America is expected to dominate the overall Rehabilitation Equipment market during the forecast period from 2024-2030. The factors responsible for the growth of North America’s rehabilitation equipment market are the increasing number of people with disabilities, product development activities such as launches and approvals, presence of high-tech medical facilities in the region, among others.