Rehabilitation Equipment Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Rehabilitation Equipment Market: Snapshot
The global market for rehabilitation equipment has been growing alongside the need to improve the quality of life of disabled, elderly, or sick persons. Rehabilitation equipment are used by rehab nurses, physiotherapists, and medical experts in rehab centers. Healthcare asylums are also ardent consumers of rehabilitation equipment, thus, propelling demand within the global market for rehabilitation equipment. The government has been offering incentives to the development of rehabilitation centers which has enhanced the growth prospects of the global market. Furthermore, the rising incidence of mental trauma, downs-syndrome, depression, and spinal injuries has also aided the growth of the global market for rehabilitation equipment. Hospitals and healthcare centers have undergone key infrastructural changes over the past decade, and rehab equipment is now a part of the basic infrastructure of these establishments.
The healthcare industry has been steadfast in adopting the latest technologies for the improvement of patients’ health. This has given an impetus to the growth of the global market for rehabilitation equipment over the past years. However, the services offered at rehabilitation centers are expensive, and admission to these centers is often preceded by cumbersome processes. Besides this, the lack of awareness about the types of facilities offered at rehab centers has also hampered the growth of the global market.
North America consists of ardent rehabilitation centers, and this aids the growth of the regional market for rehabilitation equipment. Furthermore, markets in Europe and Asia Pacific are also trailing on a positive growth track over the past years.
Global Rehabilitation Equipment Market: Overview
Rehabilitation equipment plays a significant role in improving the quality of life of the sick, disabled, injured, and aged population. A comprehensive range of rehabilitation products used by physiotherapists, speech therapists, rehab nurses, occupational therapists, and other professionals is gaining demand, promising the expansion of the market.
By product, exercise and mobility, grooming and dressing aids, cognitive therapy devices, foot stools, bathing equipment, evaluation supplies, orthopedic soft goods, hot and cold therapy, heel and elbow protection, cushions, and lymphedema products can be the key segments of the market.
In terms of end users, the global market for rehabilitation equipment market can be segmented into home care units, hospitals, rehabilitation centers, clinics, and physiotherapy centers. The hospitals segment is expected to account for a major share in the market.
Global Rehabilitation Equipment Market: Key Trends
The growing geriatric population, beneficial reforms in healthcare, and increasing number of disabled persons across the globe have been responsible for the growth of the market. The high prevalence of chronic diseases and disorders among the global population will also necessitate the use of rehabilitation equipment. Moreover, as the demand for physiotherapy has been soaring, the unmet needs of the aging and disabled populace will result in an upsurge in the demand for rehabilitation equipment.
On the contrary, lack of awareness about rehabilitation treatment and the high costs of installation and maintenance of these equipment might inhibit the growth of the global rehabilitation equipment market. However, significant opportunities will arise from the increasing focus of several manufacturers on the development of cost-efficient solutions.
Global Rehabilitation Equipment Market: Market Potential
Rehabilitation is being increasingly acknowledged as a crucial stage in the recovery from various health conditions. As a result, a number of hospitals and healthcare providers are increasingly offering rehabilitation services. For instance, the U.S-based Sarasota Memorial Hospital inaugurated its newly completed rehabilitation center on 1st April, 2017. The center will enable patients of stroke, traumatic spinal cord and brain injuries, neurological disorders, amputations, and mobility conditions to attain faster recovery. The rehabilitation center features an outdoor mobility garden for patients practicing on walkers, wheelchairs, and canes, along with ample physical therapy spaces furnished with sophisticated equipment.
Product innovation has also been characterizing the competitive landscape of the global rehabilitation equipment market. For example, in April 2017, KINESIQ, the premier developer of balance and motor capacity improvement exercise equipment meant for rehabilitation purposes, provided its KINE-SIM device to a French rehabilitation center treating 3,500 patients.
Global Rehabilitation Equipment Market: Regional Outlook
By geography, the global market for rehabilitation equipment can be segmented into Asia Pacific, North America, Latin America, the Middle East and Africa, and Europe. North America and Europe are likely to register strong growth over the forecast period, thanks to greater patient awareness, growing incidence of substance abuse, and large disposable incomes of the people in this region. Europe is being propelled by the rising governmental focus on safe handling of patients. This region is also home to a large number of market players.
Asia Pacific also possesses vast growth potential. This region might represent a considerable portion of the global market, driven by expanding healthcare expenditures, rising government initiatives, and a wide patient pool.
Global Rehabilitation Equipment Market: Competitive Analysis
Some of the major companies operating in the global market for rehabilitation equipment are Medline Industries, Inc., Caremax Rehabilitation Equipment Co. Ltd., Hospital Equipment Manufacturing Company, Invacare Corporation, Drive DeVilbiss Healthcare, Carex Health Brands, GF Health Products, Inc., Dynatronics Corporation, Roma Medical, and Changzhou Qian Jing Rehabilitation Co., Ltd
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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