New York, United States, Nov. 28, 2023 (GLOBE NEWSWIRE) -- The Global Rehabilitation Equipment Market Size is to grow from USD 23.20 Billion in 2022 to USD 40.39 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.7% during the forecast period.
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Rehabilitation equipment is crucial for restoring physical abilities in individuals with injuries or disabilities. These tools, such as resistance bands, treadmills, and electrotherapy units, aid in tailored therapeutic exercises, improving strength, coordination, and mobility. Utilized by healthcare professionals, they accelerate healing, prevent deterioration, and promote independent living. Recent technological advancements have introduced innovative options, including virtual reality-based interventions, revolutionizing rehabilitation approaches and optimizing outcomes.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Rehabilitation Equipment Market Size, Share, and COVID-19 Impact Analysis, By Product (Therapy Devices, Daily Living Aids, Mobility Equipment, Exercise Equipment, and Body Support Devices), By Application (Physiotherapy, Occupational Therapy, Strength, Endurance, and Pain Reduction) By End-Use (Hospitals & Clinics, Rehab Centers, Home Care Settings, and Physiotherapy Centers), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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In 2022, the mobility equipment segment accounted for around 36.5% market share
On the basis of the product, the global rehabilitation equipment market is segmented into therapy devices, daily living aids, mobility equipment, exercise equipment, and body support devices. The mobility equipment category has taken a prominent lead in the rehabilitation equipment market due to its crucial role in addressing mobility challenges and enhancing the daily lives of individuals with disabilities or limited movement. With an aging global population and a rising incidence of mobility-related conditions, the demand for wheelchairs, mobility scooters, and walking aids has surged. This category not only empowers users to navigate their surroundings independently but also promotes social inclusion and active participation.
The physiotherapy segment is expected to grow at a higher CAGR of around 6% during the forecast period
Based on the application, the global rehabilitation equipment market is segmented into physiotherapy, occupational therapy, strength, endurance, and pain reduction. The physiotherapy segment is poised for accelerated growth during the forecast period due to rising awareness about the importance of physiotherapy in rehabilitation, coupled with advancements in treatment techniques and technology, is driving increased adoption. Additionally, a growing number of individuals seeking non-invasive and holistic approaches to recovery further fuels the demand for physiotherapy services.
The hospitals & clinics segment held the largest market with more than 34.2% revenue share in 2022
Based on the end-use, the global rehabilitation equipment market is segmented into hospitals & clinics, rehab centers, home care settings, and physiotherapy centers. The hospitals & clinics segment has emerged as the largest market within the rehabilitation equipment sector for several reasons. Hospitals and clinics serve as primary centers for medical care, offering a wide range of rehabilitation services to patients with diverse needs. These facilities possess the expertise of skilled healthcare professionals who utilize rehabilitation equipment to provide comprehensive and specialized treatment. Moreover, the availability of advanced technologies and equipment in these settings, along with the ability to cater to a significant patient volume, has propelled the hospitals & clinics segment to hold a dominant position in the rehabilitation equipment market.
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Asia-Pacific is predicted to grow at a fastest CAGR of around 5.9% over the projected period.
Based on region, the Asia Pacific region is projected to become the fastest-growing market in the rehabilitation equipment sector. This projection is attributed to the region's expanding population, rapid urbanization, and increasing healthcare spending. As awareness about rehabilitation benefits grows, coupled with rising incidences of injuries and chronic conditions, demand for advanced equipment is escalating. Moreover, ongoing advancements in healthcare infrastructure, along with a shift towards preventive and rehabilitative care, are propelling the adoption of rehabilitation equipment.
North America commands the largest share in the rehabilitation equipment market due to benefits from a well-established healthcare infrastructure, advanced research capabilities, and a high prevalence of chronic diseases and aging populations. Robust investment in innovative technologies and therapies, along with strong government support and favorable reimbursement policies, further drives market growth.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. major players in the global rehabilitation equipment market include Baxter International, Invacare Corporation, Medline Industries, LP, Dynatronics Corp., Handicare Group AB, Drive DeVilbiss International, Etac AB, GF Health Products Inc., Joerns Healthcare LLC, Prism Medical UK Ltd., Guldmann, EZ Way Inc., LINET, Carex Health Brands, Roma Medical. And others.
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Recent Developments
- In January 2022, Suzhou MicroPort RehabTech (Group) Co. Ltd., a subsidiary of MicroPort Scientific Corporation, has announced the introduction of a new product series in its musculoskeletal rehabilitation portfolio. This introduction aided in the expansion of the company's product portfolio while also assisting in the achievement of excellent sales numbers.
- In June 2022, Caremax Inc. has declared its intention to buy Steward Health Care System's Medicare value-based care business. This acquisition will aid in the establishment of one of the largest senior-centric value-based care systems in the United States.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global rehabilitation equipment market based on the below-mentioned segments:
Rehabilitation Equipment Market, By Product
- Therapy Devices
- Daily Living Aids
- Mobility Equipment
- Exercise Equipment
- Body Support Devices
Rehabilitation Equipment Market, By Application
- Physiotherapy
- Occupational Therapy
- Strength, Endurance
- Pain Reduction
Rehabilitation Equipment Market, By End-Use
- Hospitals & Clinics
- Rehab Centers
- Home Care Settings
- Physiotherapy Centers
Rehabilitation Equipment Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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