New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- The Global Rehabilitation Equipment Market reached USD 14.5 billion in 2022 and is expected to reach USD 22.8 billion by 2030 and is expected to grow with a CAGR of 5.9% during the forecast period 2023-2030. The rehabilitation equipment market is driven by increasing disability cases, chronic diseases like diabetes, advanced technology, rising demand for therapies, and healthcare infrastructure investments in emerging markets.
Globally, the major players in the Rehabilitation Equipment Market include Invacare Corporation, Medline Industries, LP, Dynatronics Corporation, Ekso Bionics, GF Health Products, Inc., Drive DeVilbiss Healthcare, Maddak, Savaria, Etac AB, Sunrise Medical and more.
DataM Intelligence’s Global Rehabilitation Equipment Market report provides insights on the current and forecast market analysis, individual leading Rehabilitation Equipment companies’ market shares, challenges, Rehabilitation Equipment market drivers, barriers, trends, opportunities and key market Rehabilitation Equipment companies in the market.
Get a sneak peek at the Rehabilitation Equipment Market dynamics for a better understanding.
Global Rehabilitation Equipment Market Trends
As per DataM estimates, North America is anticipated to hold the largest share of the global Rehabilitation Equipment market during the forecast period.
Rising technological advancements and healthcare infrastructure investments drive market growth.
Rehabilitation equipment market growth is fueled by advancements in technology, increased demand for physical therapy equipment, and research and development investments.
The growing prevalence of chronic disorders, such as neurodegenerative disorders and diabetes, contributes to the demand for rehabilitation equipment.
Novel products utilizing the latest technology and improvements in medical infrastructure in emerging markets also support market expansion.
Increased adoption of rehabilitation equipment is a result of technological advances.
Higher infrastructure investments driven by rising surgical procedures, awareness about physiotherapy and occupational therapy, and increased healthcare expenditure further boost the rehabilitation equipment market.
To read more about the latest highlights related to the Rehabilitation Equipment market, get a snapshot of the key highlights entailed in the Global Rehabilitation Equipment Market Report
| Metrics | Details |
| CAGR | 5.9% |
| Size Available for Years | 2021-2030 |
| Forecast Period | 2023-2030 |
| Data Availability | Value (US$) |
| Segments Covered | Type, Application, End-User and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
North America Dominates the Rehabilitation Equipment Market
The North American rehabilitation equipment market holds the largest share globally, primarily driven by factors such as its sizable population, well-developed medical infrastructure, and high-income levels.
The region's market is expected to witness significant growth during the forecast period, fueled by increased healthcare expenditure in the US and a rising number of people affected by chronic diseases, projected to reach 629 million by 2045 according to the International Diabetes Federation.
Moreover, the market's expansion in North America is also supported by increased healthcare spending and growing awareness among the population. Advancements in the applications of rehabilitation equipment in physiotherapy and occupational therapy, along with a rise in pharmaceutical establishments and government approvals, contribute further to the market's growth in the region.
Additionally, the presence of key players in the area adds to the overall growth of the rehabilitation equipment market in North America.
To know more about why North America is leading the market growth in the Rehabilitation Equipment market, get a snapshot of the market here.
Rehabilitation Equipment Market Challenges
The growth of the global rehabilitation equipment market faces limitations due to the high costs associated with these products. Occupational therapy, physical therapy, and exercise equipment can be expensive, with prices averaging around $3,029. Electric wheelchairs come at a significant cost, ranging from $1,000 to $15,000 approximately, while portable mobility scooters can cost nearly $700.
These high price points pose challenges for individuals in low or middle-income countries, as they may find it difficult to afford such equipment. Moreover, the complexity of these devices requires substantial maintenance investments to ensure proper functioning, adding to the overall expenses.
As a result, the elevated cost and maintenance requirements of rehabilitation equipment act as hindrances to the market's growth.
Know the competitive analysis among the key players of the Rehabilitation Equipment Market as they are set to emerge as trendsetters in the industry.
Table of Contents
| 1 | Report Methodology and Scope |
| 2 | Report Definition and Overview |
| 3 | Executive Summary |
| 4 | Market Dynamics |
| 5 | Industry Factors |
| 6 | COVID-19 Analysis |
| 7 | Rehabilitation Equipment Market Segments and Region |
| 8 | Global Company Share Analysis – 10 Key Companies |
| 9 | Rehabilitation Equipment Market Company and Product Profiles |
| 10 | About DataM |
Interested in knowing how the Rehabilitation Equipment market grows by 2030? Click to get a snapshot of the Rehabilitation Equipment Market Trends
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