According to Vision Research Reports, the global home rehabilitation products & services market size surpassed at US$ 93,462 million in 2019 and is projected to expand at a CAGR of 6.5% from 2019 to 2027.
The global home rehabilitation products & services market size is projected to hit US$ 161.7 billion by 2027. Increase in prevalence of chronic diseases, increase in base of major consumers, and surge in population with disabilities are projected to drive the global home rehabilitation products & services market during the forecast period.
Overview
- Rehabilitation products serve a set of measures that help people suffering from disabilities such as musculoskeletal conditions, amputation, and drug abuse to improve, maintain, and restore physical strength and mobility
- Home rehabilitation products comprise positioning devices, body support devices, general aids, wheelchairs, and others (walkers, canes, crutches, arm and shoulder slings, etc.)
- Number of patients with chronic diseases such as arthritis, cancer, acquired immunodeficiency syndrome (AIDS), chronic obstructive pulmonary disease (COPD), stroke, and respiratory diseases are increasing across the world. Home rehabilitation products and services serve as alternatives for treatment and management of these diseases. Rise in prevalence of chronic diseases coupled with an aging population supports the growth of the home rehabilitation products and services market during the forecast period.
- Technological advancements in home rehabilitation products is the key driver of the home rehabilitation products market
Rise in Baby Boomers Population to Drive Market
- Recent advancements in medical science have led to an increase in life expectancy of people, with more number of people exceeding the average age of 50 years. Changing demographics and rise in geriatric population is shifting a substantial population to the high illness categories that require continuous medical interventions. The global rise in the geriatric population and changing lifestyles are the common risk factors associated with the development of chronic diseases.
- According to the United Nations, the number of people aged 60 years and above is likely to increase from 841 million in 2013 to over 2 billion by 2050. Furthermore, according to the U.S. Census Bureau, in 2011, the baby boomers began turning 65 years of age and by 2029 over 20 percent of the U.S. population will be more than 65 years of age.
- The geriatric patient base would require repeated hospitalization. Hence, rise in geriatric population and baby boomers is expected to increase demand for medical services at home that includes rehabilitation services. This is likely to fuel the growth of the home rehabilitation products and services market.
Services Segment to Dominate Market
- Based on type, the global home rehabilitation products & services market has been divided into products and services.
- Factors such as increase in number of surgical procedures, aging population, increased access to health care, surge in health care spending, rise in prevalence of lifestyle-related diseases, and high benefits offered by rehab services to patients are anticipated to boost the growth of the home rehabilitation services market during the forecast period.
- Rehabilitation products serve a set of measures that help people suffering from disabilities such as musculoskeletal conditions, amputation, and drug abuse to improve, maintain, and restore physical strength and mobility. Home rehabilitation products comprise positioning devices, body support devices, general aids, wheelchairs, and others (walkers, canes, crutches, arm and shoulder slings, etc.).
Wheelchairs to be Highly Lucrative Segment
- In terms of product type, the global home rehabilitation products & services market has been classified into positioning devices, body support devices, c-pap, wheelchairs, and others.
- Wheelchairs support disabled and elderly individuals maintain their mobility. Market players offer three types of wheelchairs: basic, powered, and manual.
- Manual wheelchairs account for the majority market share globally. These chairs are equipped with various other features such as bags and accessory holders.
- A large number of companies are offering a wide range of wheelchairs as per the specific needs and requirements of patients. For example, Invacare Corporation offers custom manual wheelchairs, power wheelchairs, IVC manual wheelchairs, and top-end everyday chairs in its portfolio.
North America to Dominate Global Market
- In terms of region, the global home rehabilitation products & services market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global home rehabilitation products & services market in 2019, followed by Europe.
- Technological advancements, high prevalence, high benefits offered by rehab services, and incidence rates of diseases such as chronic obstructive pulmonary disease (COPD) drive the market in North America. Additionally, aging population and shifting focus of patients from hospital stay to home care is expected to fuel the growth of the home rehabilitation market in the region.
- Asia Pacific is considered an emerging market for home rehabilitation products and services due to rise in demand for low cost home rehabilitation services alternatives
Competitive Landscape
- The global home rehabilitation products & services market is fragmented in terms of number of players. Key players in the global market include Stryker Corporation, Prism Medical (subsidiary of Handicare Group AB), Invacare Corporation, DJO Global, Hocoma AG, Ekso Bionics Holdings, Inc., RehabCare, AliMed, Inc., Active Medical & Rehabilitation Services Pvt. Ltd., ergoline GmbH, Performance Health, Medline Industries, Inc., among others
Market Segmentation:
By Type
-
- Products
- Positioning Devices
- Body Support Devices
- General Aids
- Wheelchairs
- Others
- Services
- Physical Therapy
- Occupational Therapy
- Speech Therapy
- Respiratory Therapy
- Other Therapies
By Region
-
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Scope of Report
VRR’s report on the global home rehabilitation products & services market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2020 to 2027. The report provides revenue of the global home rehabilitation products & services market for the period 2016–2027, considering 2020 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global home rehabilitation products & services market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global home rehabilitation products & services market.
Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global home rehabilitation products & services market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global home rehabilitation products & services market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global home rehabilitation products & services market.
The report delves into the competitive landscape of the global home rehabilitation products & services market. Key players operating in the global home rehabilitation products & services market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global home rehabilitation products & services market that have been profiled in this report.
Key Questions Answered in Global Home Rehabilitation Products & Services Market Report
- What is the scope of growth of product companies in the global home rehabilitation products & services market?
- What will be the Y-o-Y growth of the global home rehabilitation products & services market between 2019 and 2027?
- What is the influence of changing trends in technologies on the global home rehabilitation products & services market?
- Will North America continue to be the most profitable market for home rehabilitation products & services providers?
- Which factors are anticipated to hamper the growth of the global home rehabilitation products & services market during the forecast period?
- Which are the leading companies in the global home rehabilitation products & services market?
Research Methodology
A unique research methodology has been utilized by VRR to conduct comprehensive research on the growth of the global home rehabilitation products & services market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary methods referred to by analysts during the production of the global home rehabilitation products & services market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of VRR’s study on the home rehabilitation products & services market as primary methods.
These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the home rehabilitation products & services market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global home rehabilitation products & services market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching VRR’s estimates on future prospects of the global home rehabilitation products & services market more reliably and accurately.
Home Rehabilitation Products And Services Market Size Share Trends Growth Consumption Revenue Company Analysis And Forecast 2020 2027 Research Report