The global Rehabilitation Devices/Equipment Market size is expected to value at USD 17.5 billion by 2025. The market is subject to witness a substantial growth due to the increasing occurrence of degenerative disorders and rising incidences related to trauma, thus increasing number of patients in need of rehabilitation. With high-end demand of rehabilitation devices in developing economies to meet healthcare demands is significantly contributing to the growth of the market over the forecast period. Globally, the rehabilitation devices/equipment industry is predicted to grow at CAGR of 6.0% in forecast period, providing numerous opportunity for market players to invest for research and development in the market.
Mobility equipment is one of the fastest growing segment in rehabilitation devices/equipment market with highest market share over the forecast period. Rise in the demand of the mobility equipment is credited to increasing popularity among consumers. Mobility equipment market is further categorized into wheelchairs and scooters sector, and walking assist devices.
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Walking assist devices are used by patients across the globe due to lower price and ease to use features. Also, exercise equipment segment is anticipated to display the substantial growth in upcoming years due to increase in the demand for various therapies such as physiotherapy and growing recommendation by physicians for its use in the rehabilitation process. The end-user segment involving hospitals and therapy centers is dominating overall market with substantial revenue generation in recent years and is anticipated to sustain its growth in near future as well. Increasing number of patient visit to hospitals and therapy centers on daily basis and improved infrastructure associated with rehabilitation centers are some of the key drivers responsible for the sustainable growth of the hospital market segment.
Additionally, other factors influencing sustained growth of the hospital market segment are improved feedback mechanism regarding quality of service between hospitals and patients coupled with rise in the awareness programs, subsidies, and reimbursement schemes by local governments. The demand for assistive devices in day to day work for handicapped patients across the globe is on the rise in recent years. With latest product launches in the market and aggressive marketing strategies adopted by manufactures are creating necessary awareness among patients about existence of rehabilitation devices and numerous benefits associated with their use, thus fueling expansion of the rehabilitation devices/equipment industry in coming years. Moreover, numerous initiatives, financing, subsidies, and various schemes adopted by regional governments to promote rehabilitation therapies is propelling the growth of the market.
With rising adoption of medical instruments in the developed economies and growing healthcare expenditure are providing significant opportunities for manufacture to acquire maximum profit. Reimbursements coupled with adoption of the rehabilitation devices prove vital for successful rehabilitation therapies. Medicare provided by either governments or private players are assisting patients by providing hospital beds, walkers, wheelchairs, and patient lifts.
Furthermore, numerous initiatives taken by international organization such as world health organization (WHO) in support of Global Cooperation on Assistive Technology (GATE) are introducing Priority Assistive Products List (APL) to enhance quality, accessibility and cheaper range of assistive devices, thus positively impacting growth of the rehabilitation devices/equipment market over the forecast period.
The rehabilitation devices/equipment industry is divided into regional market segment such as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise adoption of latest technologies and existence well-established healthcare infrastructure. Asia-Pacific region is predicted to hold major market share in the rehabilitation devices/equipment market with massive growth in forecast period.
Countries such as India, China and South Korea are leading the Asia-Pacific market withrise in patient pool, improved public and private healthcare infrastructure and increasing investment by industry players considering potential opportunities. The key players in the rehabilitation devices/equipment industry are Invacare Co., Medline Industries Incorporations, Dynatronics Co., Caremax Rehabilitation Equipment Limited, GF Health Products, Hospital Equipment Mfg. Coorporations, Maddak, Incorporations, and India Medico Co.
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Market Segment:
Product Outlook (Revenue, USD Million, 2014 – 2025)
• Daily Living Aids
• Medical Beds
• Bathroom & Toilet Assist Devices
• Reading Writing & Computer Aids
• Mobility Equipment
• Wheelchairs & Scooters
• Walking Assist Devices
• Exercise Equipment
• Lower Body Exercise Equipment
• Upper Body Exercise Equipment
• Body Support Devices
• Patient Lifts
• Medical Lifting Slings
Application Outlook (Revenue, USD Million, 2014 – 2025)
• Physiotherapy
• Occupational Therapy
End Use Outlook (Revenue, USD Million, 2014 – 2025)
• Hospitals & Clinics
• Rehab Centers
• Home Care Settings
• Physiotherapy Centers
Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Asia Pacific
• China
• Japan
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• South Africa
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/medical-devices
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