The global Rehabilitation Equipment market size is expected to be worth around US$ 19.1 billion by 2030, according to a new report by Vision Research Reports.
The global Rehabilitation Equipment market size was valued at US$ 15.2 billion in 2020 and is anticipated to grow at a CAGR of 9.2 % during forecast period 2021 to 2030.
Growth Factors
The market is expected to witness significant growth owing to increasing prevalence of degenerative diseases, such as Parkinson’s, Alzheimer’s, & arthritis, and growing number of trauma patients who require rehabilitation therapy. Moreover, growing geriatric population is also expected to propel the market over the forecast period.
The need for daily assistive devices for the handicapped population around the globe is increasing rapidly. Awareness about new products available in the market is also growing owing to new channels of communication that are being adopted by manufacturers. Thus, patients remain informed about upcoming products in the market. Local governments in several countries have provided easy financing, subsidies, and alternative financing options for rehabilitation equipment, which are expected to boost demand for assistive products and in turn lead to growth.
Report Highlights
On the basis of product, the market is segmented into mobility equipment, daily living aids, body support devices, and exercise equipment. The mobility equipment segment dominated the overall market in 2016 with a share of 37.1%. This segment is expected to maintain its dominance over the forecast period, owing to growing geriatric and handicapped population worldwide. The mobility devices segment is further divided into wheelchairs & scooters segment and walking assist devices. Walking assist devices are the simplest form of mobility equipment, which are preferred by the target population owing to their low price and simplicity.
Daily living aids is expected to be the second-largest segment by product type during the forecast period. This segment is expected to grow at a CAGR of 8% between 2017 and 2030 and is further subcategorized into medical beds; bathroom & toilet assist devices; and reading, writing, & computer aids. Daily living aids are products used by physically disabled persons, patients with physical limitations, and patients undergoing post-surgery recovery, which help them accomplish daily tasks and activities. With an increase in number of such patients, the demand for daily living aids is expected to grow in the coming few years.
Exercise equipment and body support devices segments form the remaining part of the rehabilitation devices market by product type. These segments together accounted for nearly 35.2% share in 2016. Exercise equipment used in rehabilitation consists of handgrip exercisers, pedo cycles, arm, chest, and foot exercisers, multi-exercise chairs, hand gym kit boards, compact shoulder wheels, hand exercise tables, shoulder wheels, etc. On the other hand, the body support segment comprises patient lifts and slings. With an increase in demand for these products, the market is expected to witness significant growth.
On the basis of application, the market is segmented into physiotherapy and occupational therapy segments. The physiotherapy segment comprises exercise equipment used in the rehabilitation of patients after trauma or onset of degenerative diseases. Occupational therapy has a more holistic approach.
Growing geriatric population, changing lifestyle, increasing number of physiotherapy centers and favorable healthcare reforms are factors that are anticipated to propel the market during the forecast period. Furthermore, technological advancements, such as the development of virtual reality, exoskeletons, robots, and implantable technologies for pain management, and rising demand in emerging economies are significant drivers of rehabilitation equipment in physiotherapy. Physiotherapy uses a variety of techniques for improving, maintaining, and restoring the physical strength and mobility of a person after injury, surgery, and illness.
Occupational therapy is used to perform a comprehensive evaluation of the patient, patient’s family, and surroundings in order to enable the patient to perform daily activities easily. Occupational therapy aims at encouraging patients to perform daily activities. This segment is expected to grow at a CAGR of 7.1% between 2017 and 2030.
On the basis of end-use, the rehabilitation devices market is segmented into hospitals & clinics, rehab centers, home care settings, and physiotherapy centers. Hospitals accounted for the largest share of nearly 36% in 2020. Owing to the large patient pool of hospitals, this segment is expected to witness significant growth over the forecast period.
Revenue for rehab centers is expected to grow over the forecast period due to growing awareness about physiotherapy, technological advancements in physiotherapy centers, and rising prevalence of non-communicable diseases, such as arthritis and Parkinson’s disease. The increase in penetration of rehab centers in emerging economies is expected to result in significant growth of rehab centers during the forecast period.
Home care settings and physiotherapy centers together accounted for nearly USD 3.2 billion of the overall rehabilitation equipment market in 2020. There has been a shift from hospitals to home care, in long-term care, owing to the cost-effectiveness of home care as compared to hospitals.
North America was the largest market for rehabilitation products with a share of 36% in 2020 and is expected to continue its dominance during the forecast period. North America has a very large base of geriatric population. The prevalence of non-communicable diseases such as cancer, cardiovascular disease, diabetes, arthritis, and Parkinson’s is increasing in this region. Reimbursement programs, such as Medicare, are improving access to rehabilitation products. Invacare Corporation; Medline Industries, Inc.; Dynatronics Corporation; Ekso Bionics; and G F Health Products, Inc. are some of the leading companies in North America, which manufacture rehabilitation products such as walking aids, daily living aids, wheelchairs, power scooters, and patient lifts & slings.
Asia Pacific is expected to be the fastest-growing regional market witnessing at a lucrative CAGR of 9.4% during the forecast period. Emerging economies, such as India and China, are the most lucrative markets due to increasing patient pool, improving public and private reimbursement infrastructure, and constant development of healthcare facilities. Increasing awareness about rehabilitation equipment, growing number of physicians, and supportive government programs & policies are expected to boost growth in this region. Rapid adoption of new products amongst patients is also contributing to the growth of the rehabilitation devices market.
Europe held the second-largest share in 2016. The rehabilitation devices market in Europe is expected to witness a sluggish growth owing to decelerating economic growth and the healthcare industry. Moreover, change in the regulatory scenario is also expected to hinder the growth of the rehabilitation devices market in Europe.
Key Players
Invacare Corporation; Medline Industries, Inc.; Dynatronics Corporation; Drive Devilbiss Healthcare; Esko Bionics; Caremax Rehabilitation Equipment Ltd.; GF Health Products, Inc.; Hospital Equipment Mfg. Co.; Maddak, Inc.; and India Medico Instruments
Market Segmentation
Product Type Outlook
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
Physiotherapy
Occupational Therapy
End-use Outlook
Hospitals & Clinics
Rehab Centers
Home Care Settings
Physiotherapy Centers
Regional Outlook
North America
The U.S.
Canada
Europe
Germany
UK
Asia Pacific
China
Japan
Latin America
Mexico
Brazil
MEA
South Africa
The Rehabilitation Equipment market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Rehabilitation Equipment market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Rehabilitation Equipment market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Rehabilitation Equipment market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Rehabilitation Equipment market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Rehabilitation Equipment capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Rehabilitation Equipment by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Rehabilitation Equipment market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Rehabilitation Equipment market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Rehabilitation Equipment market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Rehabilitation Equipment industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Rehabilitation Equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Rehabilitation Equipment market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Rehabilitation Equipment market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Rehabilitation Equipment market. These factors have benefited the growth of the global market for Rehabilitation Equipment. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Rehabilitation Equipment. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Rehabilitation Equipment are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
Cross-segment Market Size and Analysis for
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