[175 Pages Report] The Global Rehabilitation Equipment Market is projected to reach USD 16.6 billion by 2025 from USD 12.9 billion in 2020, at a CAGR of 5.2%.
According to the new market research report “Rehabilitation Equipment Market by Product (Mobility, Cane, Crutches, Walker, Body Support, Lift, Beds, Sling, Exercise, Therapy, Reading, Writing), Application (Physical, OT, Strength) End User (Physiotherapy, Hospital, Clinic) - Global Forecast to 2025”, published by MarketsandMarkets™, the growth of this market is driven by the increasing incidence of chronic diseases and the rising geriatric population. However, a lack of awareness and access to rehabilitation services in emerging markets is expected to restrain the growth of this market during the forecast period.
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The physical rehabilitation and training segment is expected to grow at the highest CAGR during the forecast period
On the basis of application, the rehabilitation equipment market is segmented into strength, endurance, and pain reduction; physical rehabilitation and training; and occupational rehabilitation and training. The physical rehabilitation and training segment is projected to register the highest CAGR during the forecast period. The high growth of this segment can be attributed to the increasing incidence of sports injuries, degenerative joint disorders, and cerebrovascular diseases.
The therapy equipment segment accounted for the largest market share in 2019
Based on product, the rehabilitation equipment market is segmented into therapy equipment, daily living aids, mobility equipment, exercise equipment, and body support devices. The therapy equipment segment accounted for the largest share of the market in 2019. This segment is also projected to register the highest growth rate during the forecast period. The growth of this segment is primarily attributed to the increasing incidence of various injuries and chronic conditions.
Recent Developments in Industry:
- In January 2020, Medline Industries, Inc. (US) acquired Médi-Sélect (Canada), a medical and dental supplies distributor, to expand its geographical presence and position in the Quebec market.
- In November 2019, GF Health Products, Inc. (US) launched the Lumex Clinical Care Recliner.
- In January 2018, GF Health Products, Inc. (US) acquired Intensa, Inc. (US) This acquisition allowed GF Heath Products to expand its existing product portfolio in medical/laboratory seating, casework, furniture, and equipment.
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Which geographical region is dominating the market?
The global rehabilitation equipment market is segmented into North America, Europe, Asia Pacific, and RoW. Geographically, Europe accounted for the largest share of the market. Factors such as supportive government initiatives for safe patient handling, rising geriatric population, and the high burden of chronic conditions are driving the growth of the European market. On the other hand, the market in the Asia Pacific is projected to register the highest CAGR during the forecast period. This can be attributed to the growing prevalence of chronic conditions, increasing venture capital investments, availability of technologically advanced products, and strategic expansion of market players in this region.
Who are the key players operating in the rehabilitation equipment market?
The rehabilitation equipment industry is highly fragmented, with several big as well as emerging players competing in the market. Prominent players in this market include Invacare Corporation (US), Medline Industries, Inc. (US), Hill-Rom Services Inc. (US), Dynatronics Corporation (US), Drive DeVilbiss Healthcare (US), DJO Global, Inc. (US), Carex Health Brands, Inc. (US), Roma Medical (UK), Caremax Rehabilitation Equipment Co., Ltd. (China), GF Health Products, Inc. (US), Etac AB (Sweden), Joerns Healthcare (US), Prism Medical UK (UK), EZ Way, Inc. (US), TecnoBody (Italy), Proxomed (Germany), Handicare (Sweden), Sunrise Medical (Germany), Enraf-Nonius (Netherlands), and Antano Group (Italy).
Hill-Rom Services Inc. (US) provides a wide range of rehabilitation equipment such as patient lifts, medical beds, and accessories. The company majorly focuses on R&D investments for the continuous development and upgradation of its products. In 2018, the company invested USD 0.14 billion in R&D activities. The company’s constant focus on innovation helps it in enhancing its product offerings and marking its presence in the rehabilitation equipment market.
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