DUBLIN--(BUSINESS WIRE)--The "Rehabilitation Equipment Market by Product (Mobility, Cane, Crutches, Walker, Body Support, Lift, Beds, Sling, Exercise, Therapy, Reading, Writing), Application (Physical, OT, Strength) End User (Physiotherapy, Hospital, Clinic) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global rehabilitation equipment market is projected to reach USD 16,608.2 million by 2025 from USD 12,889.3 million in 2020, at a CAGR of 5.2% during the forecast period.
The growth in this market is primarily driven by the increasing incidence of chronic diseases and the rising geriatric population. In addition, emerging markets such as China and India are expected to offer significant growth opportunities for players in the rehabilitation equipment market during the forecast period. However, a lack of awareness and access to rehabilitation services in emerging markets is expected to restrain market growth.
The therapy equipment segment accounted for the largest share of the rehabilitation equipment market, by product, in 2019.
Based on product, the rehabilitation equipment market is segmented into therapy equipment, daily living aids, mobility equipment, exercise equipment, and body support devices. In 2019, the therapy equipment segment accounted for the largest share of the rehabilitation equipment market. This segment is also projected to register the highest growth rate during the forecast period. The growth of this segment is primarily attributed to the increasing incidence of various injuries and chronic conditions.
Physical rehabilitation and training is the largest application segment of the rehabilitation equipment market in 2019.
On the basis of application, the rehabilitation equipment market is segmented into strength, endurance, and pain reduction; physical rehabilitation and training; and occupational rehabilitation and training. The physical rehabilitation and training segment accounted for the largest market share in 2019. The large share of this segment can be attributed to the increasing incidence of sports injuries, degenerative joint disorders, and cerebrovascular diseases.
Asia Pacific to witness the highest growth during the forecast period.
The rehabilitation equipment market, by region, is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2019, Europe accounted for the largest market share, followed by North America. Factors such as supportive government initiatives for safe patient handling, rising geriatric population, and the high burden of chronic conditions are driving the growth of the European rehabilitation equipment market. The Asia Pacific market, on the other hand, is projected to register the highest CAGR during the forecast period. This can be attributed to the growing prevalence of chronic conditions, increasing venture capital investments, availability of technologically advanced products, and strategic expansion of market players in this region.
Market Dynamics
Drivers
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Increasing Incidence of Chronic Diseases
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Rising Geriatric Population
Restraints
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Lack of Awareness and Access to Rehabilitation Services in Emerging Markets
Opportunities
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Growth Potential in Emerging Countries
Challenges
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Reimbursement Issues
Companies Profiled
- Invacare Corporation
- Hill-Rom Services Inc.
- Medline Industries, Inc.
- Dynatronics Corporation
- DJO Global, Inc.
- Drive Devilbiss Healthcare
- Carex Health Brands, Inc. (A Subsidiary of Compass Health Brands)
- Roma Medical
- Caremax Rehabilitation Equipment Co., Ltd.
- GF Health Products, Inc.
- Etac AB
- Joerns Healthcare
- Prism Medical UK
- EZ Way, Inc.
- Antano Group
- Other Key Players
- Tecnobody
- Proxomed
- Handicare
- Sunrise Medical
- Enraf-Nonius
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