South and Central America Gait Rehabilitation System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Mechanical Type, and Computer-aided), End User (Hospital, Clinic, Rehabilitation Center, and Other)

South and Central America Gait Rehabilitation System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Mechanical Type, and Computer-aided), End User (Hospital, Clinic, Rehabilitation Center, and Other)

The South & Central America gait rehabilitation system market is expected to reach US$ 27.1 million by 2028 from US$ 20.3 million in 2021. The market is estimated to grow at a CAGR of 4.2% from 2021 to 2028.

With increasing manufacturing costs, medical device manufacturers are struggling to generate enough revenue to please their investors. Developing economies are offering lucrative growth opportunities to market players for expanding their business and geographical reach. Moreover, the increasing spending on healthcare in these countries is allowing companies operating in this sector to provide a wide range of superior-quality offerings. Thus, the adoption of gait rehabilitation systems is likely to increase in regions in the coming years. In addition, these regions are characterized by the growing geriatric population, which can be susceptible to orthopedic and musculoskeletal disorders.

According to the WHO, the population share of people aged 60 years and above is expected to increase from 12.4% in 2010 to 28% by 2040. Market players are likely to grab this opportunity to expand their reach to these regions. Technological advancements, such as gait rehabilitation systems, are making the treatment of orthopedic conditions and musculoskeletal diseases simpler. These systems help patients get rid of heavy-dose medicines and hectic treatments and procedures sooner than normal. Further, many start-ups are investing in the healthcare sector in developing regions. Therefore, emerging or developing countries are likely to present high growth potential for market players in the coming years.

Based on product type, the mechanical type segment is expected to register the largest market share during the forecast period. In 2021, mechanical type segment is estimated to account for the largest market share in the South & Central America gait rehabilitation system market. The growth of this segment is attributed to increasing incidence of neurological disorders, elevating number of sports injuries, and orthopedic diseases cases are among the other factors. Moreover, the Computer-aided segment is expected to witness the fastest growth in the forecast period due to rising adoption and preference by patients for automated and robotic-assisted therapies.

The second wave of corona infections has affected Brazil, Argentina, Uruguay, Chile, Peru, and Colombia. Among which Brazil recorded the majority of deaths. The region is expected to likely force a second lockdown in the near future, ultimately hindering the region's healthcare industry. However, the COVID-19 outbreak has had a critical impact on the flow of medical care in the area. Additionally, the nations are known for medical tourism, which the pandemic has also hit. The second wave of corona infections affects Brazil, Chile, Peru, Argentina, Uruguay, and Colombia. Rehabilitation is a key strategy to ensure that patients do not deteriorate and need to be readmitted again after discharge. This is crucial during the COVID-19 pandemic, given the shortage of hospital beds. Physiotherapists as rehabilitation professionals are frontline medical professionals and should be engaged in caring for patients, suffering from severe COVID-19.

The overall South & Central America gait rehabilitation system market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the South & Central America gait rehabilitation system market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the South & Central America gait rehabilitation system market. Companies adopt a few strategies, such as mergers and acquisitions and market initiatives, which promotes market growth. zebris Medical GmbH, PRODROMUS S.A., Reha Technology AG, DIH Medical, Meditouch, HIWIN Corporation, Restorative Therapies, Inc., Meden-Inmed Sp. z o.o., and Groupe WINNCARE are among the major players operating in the market.

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