Rehabilitation Equipment Market Research, 2031
The global Rehabilitation Equipment Market Size was valued at $19,506.10 million in 2021 and is estimated to reach $41,293.28 million by 2031, growing at a CAGR of 7.7% from 2022 to 2031. Rehabilitation equipment is any type of medical device that is used to assist with physical rehabilitation. Examples of these equipment include exercise machines, therapeutic machines, and assistive devices. This equipment is designed to help people with physical disabilities, injuries, or chronic illnesses to regain strength, coordination, and mobility. They can also be used to help reduce pain and help a person become independent. The report provides market dynamics and trends related to the rehabilitation equipment market. The valuations comprise revenue generated from the adoption of the rehabilitation equipment by providers, payers, and others.
The key Rehabilitation Equipment Market Trends are the rise in the prevalence of chronic diseases such as rheumatoid arthritis, multiple sclerosis, Parkinson’s disease, and others has led to an increase in the demand for rehabilitation equipment across the world. This is the key factor that drives the growth of the market. According to the National Center for Biotechnology Information (NCBI), chronic diseases can lead to physical impairments and disabilities, which can only be managed through rehabilitative care.
Moreover, the surge in the geriatric population suffering from osteoarthritis is another major factor contributing to the growth of the rehabilitation equipment market. For instance, according to the report published by Global RA Network, in 2021, more than 350 million people have been reported to suffer from arthritis globally up to 3% of the global population has psoriatic arthritis and 14 million people have rheumatoid arthritis.
In addition, the rise in technological advancements for rehabilitation equipment across the world further drives the Rehabilitation Equipment Market Growth. For instance, in September 2021, Dash Rehab Healthcare announced the launch of two lightweight rollators the Fold Down Rollator and the Forearm Walker, which have been designed with style and ease of use for end users with restricted mobility.
In addition, in October 2020, the Syamsi Dhuha Foundation (SDF) in West Jawa announced the launch of BriCane, a smart walking cane for visually impaired individuals. Thus, the launch of new and improved versions of mobility devices acts as a key driving force in the rehabilitation equipment market.
Moreover, the rise in the prevalence of arthritis among the geriatric population has led to an increase in the demand for rehabilitation equipment across the world drive the growth of the Rehabilitation Equipment Market. For instance, according to the report of World Population Ageing (WPA), 1.4 billion were older people in 2021 thrice as that was in 1980 (382 million). Moreover, the number is expected to reach 1.41 billion by 2030 and a further 2.1 billion by 2050.
Furthermore, the rise in the demand for rehabilitation equipment devices is not only limited to developed countries, but is also being witnessed in developing countries, owing to the rapid increase in geriatric populations of countries such as China, Brazil, and India, which fuel the growth of the rehabilitation equipment market.
The COVID-19 outbreak has disrupted workflows in the healthcare sector worldwide. The disease has forced several industries to shut their doors temporarily, including several sub-domains of health care. The overall impact of COVID-19 remains negative on the rehabilitation equipment market owing to the disrupted healthcare services, decrease in the number of sports-related activities, and decline in the number of sports tournaments conducted globally. The pandemic had also reduced the prevalence rate of road accidents because of lockdowns everywhere. The post-COVID scenario for the rehabilitation equipment market has changed, owing to a rapid increase in the geriatric population and change in lifestyle which leads to an increase in the number of chronic diseases, arthritis, and others.
The post-COVID scenario increases the demand and production of rehabilitation equipment, which increases the total net revenue of firms that deal in the manufacturing and distribution of rehabilitation equipment. Furthermore, the surge in demand for elderly and disabled assistive services provides growth opportunities for the market. In addition, the rise in the geriatric population suffering from permanent and temporary disabilities in developing countries like China and India has led to an increase in the demand for rehabilitation equipment such as mobility devices to help disabled people in achieving their day-to-day activities. Thus, the aforementioned factors provide lucrative Rehabilitation Equipment Market Opportunity to the key players in the post-pandemic scenario.
The Rehabilitation Equipment Market Analysis is done on the basis of product type, application, end-user, and region. By product type, the market is divided into daily living aids, exercise equipment, body support devices, and mobility aids. By application, it is classified into physiotherapy, occupational therapy, and others. By end user, the market is categorized into hospitals, rehabilitation centers, and home care. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Product Type
The market is segmented into daily living aids, exercise equipment, body support devices, and mobility aids. The mobility aids segment accounted for the largest Rehabilitation Equipment Market Share in 2021 and is anticipated to lead during the forecast period. attributed to an increase in awareness about personal mobility devices, and a surge in the adoption rate of canes, crutches, and walkers among the geriatric population.
The market is divided into physiotherapy, occupational therapy, and others. In 2021, the physiotherapy segment accounted for the Rehabilitation Equipment Market Share. This is attributed to the rising demand for rehabilitation equipment in physiotherapy as it provides evidence-based treatments that can help optimize an individual's function and independence. In addition, the rise in the prevalence of neurological disorders among the population is the key factor driving the demand for rehabilitation equipment.
By End User
The market is fragmented into hospitals, rehabilitation centers, and home care. The hospital's segment exhibited the highest growth in 2021 and is anticipated to lead during the Rehabilitation Equipment Market Forecast period, owing to an increase in admission of patients in hospitals due to a rise in cases of road accidents, spinal cord injuries, and meningitis.
The rehabilitation equipment market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major share of the market in 2021 and is expected to maintain its dominance during the forecast period. The market is mainly driven by the rise in the prevalence of arthritis and Parkinson’s disease in the geriatric population and the surge in the incidence of sports-related injuries among the young population in this region are the major factors that propel the growth of the market.
Moreover, the surge in the geriatric population increases the demand for rehabilitation equipment such as mobility devices to restore mobility and stability. This boosts the growth of the rehabilitation equipment market. For instance, according to the report published by America’s Health Ranking by United Health Foundation, in 2021, it has been estimated that more than 54 million adults ages 65 and older live in the U.S. which is about 16.5% of the nation’s population.
Asia-Pacific is expected to grow at the highest rate during the forecast period. The market growth in the Asia-Pacific region is supplemented by the rise in the geriatric population and the increase in the prevalence of sports-related injuries. The increased risk of falling injuries owing to the rise in the geriatric population suffering from arthritis, and the fact that the elderly population is highly prone to falling, increases the demand for rehabilitation equipment such as mobility devices and body support devices for restoring mobility and stability and providing balance while walking, which boosts the growth of the Rehabilitation Equipment Market Size in upcoming years.
According to the report published by Arthritis India in 2021, arthritis affects 15% of people, i.e., over 210 million people in India. Furthermore, according to a Census Bureau report published in June 2022, there were an estimated 414 million Asian people aged 65 and older, which is about 20% more than the total U.S. population (331.4 million). Furthermore, it is projected that by 2060, there will be more than 1.2 billion Asian people aged 65 and older, which implies that one out of every 10 people in the world will be an older Asian.
The Rehabilitation Equipment Industry provides competitive analysis and profiles of the major players in the rehabilitation equipment market, Medline Industries Inc., Invacare Corporation, Ekso Bionics, GF Health Products, Inc., Caremax Rehabilitation Equipment Co. Ltd, Baxter International Inc., Hospital Equipment Mfg. Co, Roma Medical, ReWalk Robotics, and Drive DeVilbiss Healthcare. There are some important players in the market which have adopted agreement, product development, product launch, and product approval, as key developmental strategies to improve the product portfolio of the rehabilitation equipment market.
Recent product launches in the rehabilitation equipment market
- In August 2022, Invacare Corporation launched its Invacare AVIVA STORM RX power wheelchair. The launch of the Invacare AVIVA STORM RX power wheelchair will help the company to strengthen its power mobility portfolio.
- In January 2022, MicroPort Scientific Corporation launched TherMotion Cryo-Thermo Compression Device, which is used for orthopedic post-operative rehabilitation, and functional recovery for chronic diseases.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the rehabilitation equipment market analysis from 2021 to 2031 to identify the prevailing rehabilitation equipment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the rehabilitation equipment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional as well as global rehabilitation equipment market trends, key players, market segments, application areas, and market growth strategies.
Rehabilitation Equipment Market Report Highlights
Market Size By 2031
USD 41.3 billion
CAGR of 7.7%
2021 - 2031
By Product Type
By End User
Key Market Players
Medical Depot, Inc., Roma Medical, Invacare Corporation, Hospital Equipment Mfg. Co., Ekso Bionics, ReWalk Robotics Ltd., Medline Industries, LP, Caremax Rehabilitation Equipment Co. Ltd, Baxter International Inc., GF Health Products, Inc.
This section provides various opinions of top-level CXOs in the rehabilitation equipment market. According to several interviews conducted, the rehabilitation equipment market is expected to witness significant growth in the future, owing to an increase in the adoption of advanced rehabilitation equipment, a rise in a number of muscle and tendon injuries, the surge in the number of arthritis and Parkinson’s diseases, and rise in the geriatric population.
According to the perspectives of CXOs, the rehabilitation equipment market is expected to witness steady growth in the future. The increase in prevalence of chronic diseases among the population has also led to a surge in demand for better and more advanced technologies such as product offerings including lightweight clinical rollators and powered wheelchairs. This is anticipated to fuel market growth.
The surge in investments in R&D by medical device companies, rise in healthcare expenditure, and increase in adoption of advanced rehabilitation equipment owing to medical cases, old age, or any temporary or permanent disability are the key factors driving the growth of the market. However, the high cost associated with advanced technologies hampers the growth of the market up to some extent during the forecast period.
As per CXOs, North America is expected to dominate the global rehabilitation equipment market during the forecast period, followed by Europe. In addition, emerging economies such as India, China, Mexico, and Brazil are expected to offer lucrative opportunities owing to the lack of medical facilities and supplies in these countries leading to the development of chronic ailments such as arthritis which require rehabilitation equipment for better mobility alternative.