Rehabilitation equipment is used to help people recover from injuries, illnesses, or disabilities. It can include a range of products from physical therapy tools to assistive technology. Some examples of common rehabilitation equipment include exercise bikes, treadmills, weights, balance boards, parallel bars, foam rollers, resistance bands, and thera-bands. Other assistive technology can include voice-activated computer programs, special keyboards, and adaptive chairs.
Currently, rehabilitation equipment market is projected to reach USD 19.8 billion by 2027, at a CAGR of 5.9% during the forecast period. The growth of this market is primarily driven by the increasing prevalence of chronic diseases such as arthritis and cancer, requiring rehabilitation therapies, high risk of injuries to caregivers during the manual handling of patients, rising geriatric and obese populations, and increasing demand for rehabilitation therapies owing to increasing access to healthcare. However, reimbursement issues and persistent difficulties in handling bariatric patients are some of the key challenges in the market.
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Market Growth Drivers
· Increasing incidence of chronic diseases
· Increasing demand for rehabilitation care with expanding access to healthcare
· Rising geriatric and obese population
Market Growth Opportunities
· Growth potential in emerging countries
· Rising demand for home healthcare services
Market Challenges
· Reimbursement issues
· Persistent difficulties in handling bariatric patients
Industry Trends
· Growing focus on organic growth strategies
· Integration of IOT in rehabilitation equipment
The prominent players operating in the rehabilitation equipment market are Baxter International (US), Invacare Corporation (US), Medline Industries, LP (US), Arjo (Sweden), Colfax Corp. (US), Dynatronics Corp. (US), Handicare Group AB (Sweden), Drive DeVilbiss International (Germany), Etac AB (Sweden), GF Health Products Inc. (US), Joerns Healthcare LLC (US), Prism Medical UK Ltd. (UK), Guldmann (Denmark)
Baxter International (US) (after acquiring Hillrom Holdings) dominated the rehabilitation equipment market in 2021. The company’s leading position can be attributed to its comprehensive suite of products and solutions used in the diagnosis, treatment, post-care, and monitoring of patients in hospitals, rehabilitation care and home care settings. The company’s has high focus on RD in its Hillrom segment, which enables it to develop innovative products that suit the current market demands.
Invacare Corporation (US) is among the leading providers of rehabilitation equipment and is ranked at 2nd position in the rehabilitation equipment market. The company has a broad product portfolio, including powered wheelchairs, custom manual wheelchairs, and seating and positioning products. Invacare Corporation has a strong geographic footprint and markets its products in North America, Europe, and the Asia Pacific. The company aims to expand its global footprint and strengthen its marketing and manufacturing capabilities.
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Report Highlights
· To define, describe, and forecast the rehabilitation equipment market on the basis of product, application, end user, and region
· To provide detailed information about the factors influencing the market growth (such as drivers, restraints, challenges, and opportunities)
· To strategically analyze micromarkets1 with respect to the individual growth trends, prospects, and contributions to the overall rehabilitation equipment market
· To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
· To forecast the size of the market segments with respect to four regions, namely, North America, Europe, Asia Pacific, and rest of the world.
· To profile the key players and comprehensively analyze their core competencies2 in terms of key developments, product portfolios, and recent financials
· To track and analyze competitive developments such as acquisitions, product launches, partnerships, and expansions in the rehabilitation equipment market
Recent Developments
· In May 2022, Etac AB (Sweden) announced the launch of R82 Crocodile (size 0), the smallest walking aid by the company.
· In March 2022, Medline Industries, LP (US) announced a USD 725 million prime vendor partnership with Mount Sinai Health System (US), to enhance their supply chain strategy and improve patient outcomes.
· In March 2022, Prism Medical (UK) announced a partnership with IoT Solution Group (UK), to enable Prism Medical to advance its existing product portfolio and expand into the smart healthcare market.
· In February 2022, Invacare announced the launch of its next-generation e-fix eco Power Assist Device to upgrade its manual wheelchairs.
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