Rehabilitation Equipment Market Size-Global Industry Trends, Analysis, Regional Outlook, & Competitive Strategies |Global forecast to 2021
The Rehabilitation Equipment Market is projected to reach $14.91 billion by 2021 from $9.86 billion in 2016, at a CAGR of 8.6% during 2016-2021. Mobility equipment segment grow at the highest CAGR & North America is projected to be the fastest-growing region.
Pune, India – April 4, 2017 /MarketersMedia/ —
The Rehabilitation Equipment Market is projected to reach USD 14.91 billion by 2021 from USD 9.86 billion in 2016, at a CAGR of 8.6% during 2016-2021. The market for rehabilitation equipment is expanding due to the increasing incidence of disabilities resulting from non-communicable diseases, favorable healthcare reforms, and rapid growth in the geriatric population, coupled with the rising prevalence of chronic diseases. On the other hand, the high cost & maintenance expense of rehabilitation equipment are limiting the growth of the market to a certain extent.
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The rehabilitation equipment market is categorized on the basis of type, application, end user, and region. Based on type, the market is categorized into mobility equipment, body support devices, exercise equipment, and daily living aids. The mobility equipment segment is projected to register the highest CAGR during the forecast period. The growth in this segment is attributed to the increasing the number of elderly people suffering from orthopedic impairments which is creating a demand for mobility equipment worldwide.
Based on type, the rehabilitation equipment market is segmented mobility equipment, body support devices, exercise equipment, and daily living aids. The mobility equipment segment is expected to grow at the highest CAGR during 2016–2021. The growth in this segment is attributed to the increasing the number of elderly people suffering from orthopedic impairments which is creating a demand for mobility equipment worldwide. Moreover, the increasing number of disabled people and growing awareness on safety measures in handling patients are driving the demand for mobility equipment.
Rehabilitation Equipment Market, by Type :
• Daily Living Aids
o Medical Beds
o Bathroom & Toilet Assist Devices
o Reading, Writing & Computing Aids
• Mobility Equipment
o Wheelchairs & Scooters
o Walking Assist Devices
• Exercise Equipment
o Lower Body Exercise Equipment
o Upper Body Exercise Equipment
o Total Body Exercise Equipment
• Body Support Devices
o Patient Lifts
o Medical Lifting Slings
Based on application, the rehabilitation equipment market is divided into two segments physiotherapy and occupational therapy. The physiotherapy segment is projected to register the highest CAGR during the forecast period. The growth of this segment is majorly attributed to the Increasing need for physiotherapy among the aging population & disabled patients and the implementation of favorable government policies.
Rehabilitation Equipment Market, by Application :
• Physiotherapy
• Occupational Therapy
Rehabilitation Equipment Market, by End User :
• Hospitals & Clinics
• Rehabilitation Centers
• Home Care Settings
• Physiotherapy Centers
North America is projected to be the fastest-growing region in the rehabilitation equipment market during the forecast period. High growth in this region can be attributed to factors such as growth in geriatric population and the subsequent increase in the prevalence of lifestyle diseases and the presence of favorable healthcare reforms.
Rehabilitation Equipment Market, by Region :
• North America
o U.S.
o Canada
• Europe
o Germany
o France
o U.K.
o RoE (Rest of Europe)
• Asia-Pacific
• Rest of the World (LATAM, the Middle East, and Africa)
Various companies are focusing on technological advancements to improve the rehabilitation equipment offerings. The market is a rapidly growing market hence; many companies are launching new products to meet the increasing demand and niche requirements of the stakeholders. Invacare Corporation (U.S.) launched Kite electric powered wheelchair and TDX2 Low Rider power wheelchair (October 2016), and power chair control system – Invacare LiNX, Simply SMART (July 2016). Also, the company upgraded its rehabilitation products such as Küschall Champion SK, folding wheelchair (February 2017) and its LiNX power wheelchairs by modifying and programming it wirelessly via Bluetooth (December 2016).
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The rehabilitation equipment market is fragmented with several global as well as local players. Players offer several products across different subsegments of this market. Key players in this market include Invacare Corporation (U.S.), Medline Industries, Inc. (U.S.), Dynatronics Corporation (U.S.), Drive DeVilbiss Healthcare (U.S.), Changzhou Qian Jing Rehabilitation Co., Ltd. (China), Carex Health Brands (U.S.), Roma Medical (U.K.), Caremax Rehabilitation Equipment Co. Ltd. (China), GF Health Products, Inc. (U.S.), and Hospital Equipment Manufacturing Company (India).
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