USD 16.04 Billion
Report ID:
SQMIG35A2417 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
63
|Figures:
75
Rehabilitation Equipment Market size was valued at USD 16.04 Billion in 2023 and is poised to grow from USD 17.02 Billion in 2024 to USD 27.33 Billion by 2032, growing at a CAGR of 6.1% during the forecast period (2025-2032).
The rehabilitation equipment market is comprised of an array of devices and tools intended to help individuals recover, get better, or maintain their physical conditions post-injury, surgery, illness, or occurrence of chronic conditions. Increased occurrence of musculoskeletal disorders such as osteoarthritis, osteoporosis, and others have raised the demand for rehabilitation equipment to help people restore mobility and continue to be active to enhance their standard of living. Moreover, the aging global populace that suffers from such debilities is another factor powering the requirement of rehabilitation equipment. There are several devices in this segment, such as mobility aids, exercise equipment, and therapy devices, that can be used by those in recovery, including those with chronic conditions to better their living conditions. The main driver for the market is the rising demand for effective solutions to facilitate efficient rehabilitation of disabilities and chronic conditions in an aging population. Favorable reimbursement rules in leading markets such as the U.S. are likely to be a top sales trigger for manufacturers as well. According to Medicare, users can use types of care equipment to help them recover and use equipment. Especially considering the durable medical equipment in question, they are wheelchairs, special beds, lifting cushions, carrying beams, elderly walkers, crutches, canes, commode chairs and all such equipment.
US Rehabilitation Equipment Market is poised to grow at sustainable CAGR for the next forecast year.
Global Market Size
USD 16.04 Billion
Largest Segment
Fastest Growth
Growth Rate
6.1% CAGR
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The global rehabilitation equipment market is segmented on the basis of application, end-use, product and region. In terms of application, the market is segmented into Physical rehabilitation & training; strength, endurance and pain reduction; occupational rehabilitation & training. With respect to end-use, the market is segmented into hospitals & clinics, rehab centers, home care settings, and physiotherapy centers. The product is further bifurcated in therapy equipment, daily living aids, mobility equipment, exercise equipment, body support devices. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Application
The occupational therapy segment accounted for the leading share of the market revenues in 2023. This trend is attributed to several driving forces, namely, the expanding adoption due to the growing awareness regarding the ability of occupational therapy to improve the level of functional independence and overall quality of life of people with disabilities or those who had some injuries. Moreover, as the World Health Organization estimates, in 2023, as many as 2.4 billion people are diagnosed with some medical conditions that require rehabilitation. Furthermore, the advances in rehabilitation equipment, as well as the emergence of new adaptive devices and assistive technologies, are among the factors contributing to market expansion.
The physiotherapy segment is expected to be the fastest-growing segment over the forecast period, mainly due to the growing number of physiotherapy centers around the world. Increasing awareness of the significance of this type of rehabilitation for musculoskeletal and neurological disorders and post-surgical recovery facilitates the market’s development. Moreover, technological advancements in rehabilitation equipment such as sophisticated therapeutic modalities and robots for assisted walking are supporting the demand for such products. Attraction of the market is facilitated by favorable reimbursement policies in main countries and healthcare expenditures. In addition, the aging population in many markets and a wide range of chronic diseases fuel demand to increase the number of physiotherapy services, which ensures that the market will continue to develop.
Analysis by End-User
Hospitals & clinics segment held the largest revenue share in 2023, attributable to the increasing number of healthcare facilities, globally. The growing emphasis on hospital infrastructural development, particularly in emerging economies, in line with the government’s investments towards healthcare modernization, have propelled the demand for rehabilitation equipment. Hospitals have been increasingly expanding their rehabilitation departments across inpatients and outpatient services for the surging patient pool for chronic diseases and post-surgical care. Furthermore, technological advancements in medical equipment and the incorporation of robotic-assisted therapies have added to the treatment efficacy, propelling the market growth. In addition, the supportive government policies and initiatives for enhancing the accessibility to healthcare services drive the hospital and clinic segment’s expansion for rehab services.
The segment of home care settings is anticipated to demonstrate considerable growth over the forecast period, reflecting advancements that improve usability and accessibility. Rehabilitation equipment for home use has undergone significant improvements with the development of technology, becoming more comprehensive and user-friendly. The relevant trends are supported by new devices, such as portable therapy tools, adaptive aids, and remote systems for control and monitoring, which allow patients to engage in exercises and therapies on their own. Simultaneously, the demand for home-based rehabilitation has been rising due to the comfort and convenience associated with these settings, expanding the market for equipment used in residential environments.
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North America rehabilitation equipment market holds the largest portion of the global market. It is contributed to by the wide elderly population and surge of diseases such as cancer, cardiovascular, diabetes, arthritis and Parkinsons. State supported programs such as Medicare are now encouraging the purchase and use of rehabilitation products. U.S. is a major revenue contributor in North America. This is linked to the growing prevalence of chronic conditions such as cardiovascular diseases, diabetes, arthritis and neurological disorders. This is the major market for advanced rehabilitation equipment that seeks to improve mobility, chronic pain and overall quality of life.
Asia Pacific rehabilitation equipment market is on the rise owing to the collaboration with hospitals and the implementation of advanced technologies. Rehabilitation equipment manufacturers and healthcare facilities work together more closely, which results in the emergence of innovative devices and therapies. Moreover, the implementation of advanced technologies, such as robotic-assisted therapies and smart rehabilitation tools drives the growth of the market through the improved efficacy of the treatment and patients’ care. With the significant advancements witnessed in the technology used, the rehabilitation equipment market of China experiences substantial growth in response to the increased healthcare funding.
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Rehabilitation Equipment Market Drivers
Growing Cases of Musculoskeletal Disorders
Growing Cases of Injuries to Professionals
Restraints
Restricting Insurance Coverage and Unfavorable Policies
Lack of Awareness
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In the rehabilitation equipment market, the level of mergers and acquisitions is moderate. Companies acquire enterprises to expand their product portfolios, improve technological expertise, and grow market coverage. There is steady activity in the market due to the increasing need for innovation and market consolidation. However, it is restrained by strict regulations and high costs of acquisition. The market expansion is high. The increased penetration and market opportunities result from the growth of global healthcare investments, the aging of the population, and an increased insight into the benefits of rehabilitation worldwide.
Rehabilitation Equipment Market Top Player’s Company Profiles
Rehabilitation Equipment Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, Higher incidence of chronic diseases, availability of a variety of therapies for rehabilitation, and the need of rehabilitation equipment for non-communicable diseases are the major drivers for the global rehabilitation equipment market. In older people, rising incidence of arthritis and Parkinson’s is boosting the demand in the global rehabilitation equipment market. With the growing number of healthcare facilities in emerging nations, a significantly larger population of patients who can afford and access medical rehabilitation treatments is also increasing. As a result, it is anticipated that the rehabilitation products market in developing nations will grow during the forecast period.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 16.04 Billion |
Market size value in 2032 | USD 27.33 Billion |
Growth Rate | 6.1% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Rehabilitation Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Rehabilitation Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Rehabilitation Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Rehabilitation Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35A2417
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