Rehabilitation Equipment Market

Global Rehabilitation Equipment Market Size (2023 to 2028)

The global rehabilitation equipment market is expected to grow from USD 13.18 billion in 2023 to USD 17.89 billion by 2028, growing at a CAGR of 6.3% from 2023 to 2028.

Global Rehabilitation Equipment Market Share Insights:

• Based on product, the mobility equipment segment had the major share of the global market in 2022.
• Based on application, the occupation therapy segment held the leading share of the global market in 2022.
• Based on end-user, the hospital segment led the market in 2022.
• Based on region, North America dominated the market in 2022.

Impact of COVID-19 on the global rehabilitation equipment market:

The COVID-19 pandemic has had a significant impact on the global rehabilitation equipment market. There was a surge in the demand for rehabilitation equipment after the covid 19 recovery, particularly for respiratory therapy equipment and mobility aids that drove the demand for market growth. As per the NCBI article 2020, patients were expected to experience various problems with normal body functioning and would require rehabilitation services. The pandemic has also accelerated the adoption of telerehabilitation services, leading to increased demand for rehabilitation equipment that is suitable for use in home settings. However, the COVID-19 pandemic also had some negative influence on the market due to disruptions in the supply chain, delayed production and distribution of equipment, and delayed surgeries. There was a temporary decline in the number of elective surgeries, like joint replacements that often require rehabilitation due to the pandemic.

MARKET DRIVERS:

The growing patient population suffering from chronic diseases and disabilities such as arthritis, cardiovascular diseases, and neurological disorders majorly drive the growth of the rehabilitation equipment market. Certain age-related conditions including osteoarthritis, stroke, mobility issues, paralysis, etc. are more common among the elderly. Therefore, the increasing geriatric population is also expected to drive the demand for the products in the rehabilitation equipment market. Furthermore, the development of new and innovative rehabilitation equipment with better performance, usability, and patient outcomes is expected to drive market growth as the use of technology advances in the healthcare sector. The rising disposable incomes of the global population have led to an increase in healthcare expenditure in both developed and developing countries. The various government initiatives to promote rehabilitation include funding programs, reimbursement policies, and the establishment of rehabilitation centres. These efforts will fuel the market growth in the coming years. 

The growing awareness about the importance of rehabilitation equipment among patients and doctors in the recovery and rehabilitation of patients is further expected to drive the demand for rehabilitation equipment. There is increased adoption of these devices among patients as doctors are also recommending their use for quick recovery. The growing trend towards home-based care has increased the demand for rehabilitation equipment that can be used in home healthcare settings. There is a growing demand for portable and user-friendly rehabilitation equipment that allows individuals to receive therapy from the comfort of their homes.

MARKET RESTRAINTS:

Factors such as high costs of equipment, limited insurance coverage, and limited awareness primarily hamper the growth of the global rehabilitation equipment market. The costs of certain rehabilitation equipment are very high which may limit the adoption of these devices among the people, particularly in developing countries. Expensive equipment may also deter healthcare providers from investing in rehabilitation equipment, leading to a slower adoption rate. Inadequate education and awareness about the availability of rehabilitation equipment in the market and their benefits among patients as well as healthcare professionals can impact the market growth due to underutilization. In some countries, there may be limited or no insurance coverage for certain types of rehabilitation equipment and therapies which can create a financial burden on some patients to adopt and use these devices.

REPORT COVERAGE: 

This research report on global rehabilitation equipment market has been segmented and sub-segmented based on the following categories.

Global Rehabilitation Equipment Market – By Product Type:

• Daily Living Aids
  • Medical Beds
  • Bathroom/Toilet Assist Devices
  • Reading Writing and Computer Aids
  • Others
• Exercise Equipment
  • Upper Body
  • Lower Body
• Body Support Devices
  • Patient Lifts
  • Medical Lifting Slings
• Mobility Equipment
  • Walking Assist Devices
  • Wheelchairs and Scooters

Based on product type, the mobility equipment segment currently holds the highest share of the global market and is anticipated to witness the highest CAGR during the forecast period. Typically, walking assistance devices include canes, crutches, and walkers that make it simple for people with physical disabilities and the elderly population to move around. These tools increase support by enhancing balance, boosting activity levels, and decreasing the patient's reliance on others. The growing popularity of smart walking assistive gadgets and other expected product launches further contribute to the segmental growth.

The daily living aids segment is estimated to account for a considerable share of the worldwide market during the forecast period. The growing usage of daily living aids by individuals with physical limitations to perform everyday activities and increasing awareness about the benefits of assistive devices in enhancing the quality of life for patients with disabilities or injuries drive the growth of the daily living aids segment in the global market.

The exercise equipment segment is anticipated to witness a healthy CAGR in the coming years. Factors such as the rising awareness about the importance of regular exercise for maintaining overall health and fitness, growing prevalence of lifestyle-related diseases, such as obesity, diabetes, and cardiovascular disorders and advancements in exercise equipment technology, such as interactive and connected devices propel the growth of the exercise equipment segment.

Global Rehabilitation Equipment Market – By Application:

• Physiotherapy
• Occupational Therapy
• Others

Based on application, the occupation therapy segment is expected to hold the major share of the global market during the forecast period. The growing importance in improving daily life activities for individuals with disabilities or impairments and increasing prevalence of chronic conditions and injuries propelling the demand for occupational therapy and supporting the segmental growth in the global market.

The physiotherapy segment is anticipated to account for a considerable share of the global market during the forecast period. The demand for rehabilitation equipment in physiotherapy is increasing due to factors like the ageing population, changing lifestyles, the expansion of physiotherapy facilities, and technological innovations like exoskeletons, robots, and implantable pain management devices. Therefore, the physiotherapy segment is anticipated to witness the highest growth over the forecast period, especially in emerging countries.

Global Rehabilitation Equipment Market – By End-User:

• Hospitals
• Rehab Centres
• Home-care settings
• Physiotherapy centres
• Others

Based on end-user, the hospital segment is predicted to account for the largest share of the global market during the forecast period owing to the large number of patients visiting hospitals for treatment.

However, the home care is expected to account for a considerable share of the global market during the forecast period owing to increasing awareness and adoption of rehab services among patients. There has been a shift from hospitals to home care for long-term treatment due to the cost-effectiveness of home care as compared to hospitals.

Global Rehabilitation Equipment Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Geographically, North America accounted for the largest share of the global rehabilitation equipment market in 2022 and is expected to continue its dominance during the forecast period. This can be attributed to the large base of the geriatric population and the increasing prevalence of non-communicable diseases such as cancer, cardiovascular disease, diabetes, arthritis, and Parkinson’s disease in the region. Moreover, the presence of major market players in the region is driving the market growth.

However, Asia Pacific is expected to grow at the highest CAGR during the forecast period. This is due to the increasing patient pool, improving reimbursement policies and healthcare infrastructure in emerging economies, such as India and China. Increasing awareness and rapid adoption of new products amongst patients are also contributing to the growth of the rehabilitation devices market in the region.

KEY MARKET PLAYERS:

The global rehabilitation equipment market is highly competitive, with a large number of players operating in the market. Some of the key players in the market include Invacare Corporation, Hill-Rom Holdings, Inc., DJO Global, Inc., Hospital Equipment Mfg. Co., Dynatronics Corporation, Ekso Bionics, Caremax Rehabilitaion Equipment Co. Ltd., Drive DeVilbiss Healthcare, Medline Industries, Inc., Carex Health Brands, Inc., Roma Medical Aids Ltd., GF Health Products, Inc. and Joerns Healthcare LLC.

RECENT HAPPENINGS IN THE MARKET:

• In May 2022, Elac AB announced the launch of R2 Crocodile, the smallest walking aid.
• In March 2022, Medine Industries, LP announced a USD 725 million prime vendor partnership with Mount Sinai Health System to improve upon its supply chain strategy and improve patient outcomes.
• In February 2022, Invacare announced the launch of its next-generation e-tik eco Power Assist Device to upgrade its manual wheelchairs.