Market Size –
The rehabilitation products market size has grown strongly in recent years. It will grow from $13.05 billion in 2023 to $13.92 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to the increasing prevalence of chronic diseases and disabilities, the growing aging population worldwide, rising awareness about the importance of rehabilitation, expanding insurance coverage for rehabilitation services, and rising healthcare expenditure globally.
The rehabilitation products market size is expected to see strong growth in the next few years. It will grow to $18.12 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to government initiatives and policies, a shift towards home-based rehabilitation, a focus on early intervention and preventive care, and expansion of healthcare infrastructure in emerging markets. Major trends in the forecast period include the adoption of telerehabilitation solutions, integration of artificial intelligence (AI) and Virtual Reality (VR), emphasis on mobility and accessibility, and utilization of sustainable and eco-friendly solutions.
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Scope Of Rehabilitation Products Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Rehabilitation Products Market Overview
Market Drivers –
The increasing geriatric population is expected to propel the rehabilitation products market going forward. The geriatric population refers to individuals who are above the age of 65 and older and are characterized by specific health concerns and needs associated with aging. The surge in the geriatric population can be attributed to increased life expectancy due to advancements in healthcare and declining fertility rates. Rehabilitation products are used to promote functional independence, mobility, and overall well-being among the geriatric population, enabling older adults to lead active, fulfilling lives as they age. Rehabilitation products such as walking aids and mobility scooters provide support and assistance, enabling older adults to move around safely and independently. For instance, in January 2024, according to the Population Reference Bureau, a US-based not-for-profit research organization that focuses on people’s health and well-being, the number of Americans aged 65 and older is estimated to rise significantly, from 58 million in 2022 to 82 million by 2050, marking a 47% increase. Furthermore, the proportion of the population aged 65 and older is expected to increase from 17% to 23% during this period. Therefore, the increasing geriatric population is driving the growth of the rehabilitation products market.
Market Trends –
Major companies operating in the rehabilitation products market are focused on developing innovative solutions, such as advanced virtual reality-based platforms, to enhance therapy outcomes and patient engagement. Virtual reality-based platforms are utilized in rehabilitation products to provide immersive and interactive experiences for patients undergoing therapy. For instance, in November 2022, Penumbra Inc., a US-based medical device company, launched the REAL y-Series, a full-body, non-tethered immersive healthcare offering for rehabilitation. This technology utilizes upper and lower body sensors to track full body movement and progress in real time, providing a hands-free, sensor-based virtual reality (VR) platform and allowing clinicians to customize exercises and activities to challenge, motivate, and engage patients. This innovative technology aims to address challenges in rehabilitation, such as patient motivation and engagement, by maximizing therapy benefits through higher engagement and intensity, potentially improving patient outcomes.
The rehabilitation products market covered in this report is segmented –
1) By Product Type: Medical Bed, Mobility Scooter, Walker, Cane, Patient Lift, Sling, Other Product Types
2) By Application: Physical Rehabilitation And Training, Strength, Endurance, And Pain Reduction, Occupational Rehabilitation And Training
3) By End User: Physiotherapist, Orthopedists, Rehab Centers, Occupational Therapists, Speech Therapists, Other End Users
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Regional Insights –
North America was the largest region in the rehabilitation products market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the rehabilitation products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the rehabilitation products market are Medline Industries Inc., Stryker Corporation, Zimmer Biomet Holdings, Smith & Nephew plc, Ottobock SE & Co. KGaA, DJO Global Inc., Sunrise Medical Inc., Össur (OSSR.Co), Drive DeVilbiss Healthcare (Medical Depot Inc.), Joerns Healthcare, Invacare Corporation IVC, Caremax Rehabilitation Equipment Co. Ltd., Etac AB, GF Health Products Inc., Prism Medical UK, Dynatronics Corporation, Biodex Medical Systems Inc., Carex Health Brands Inc., Roma Medical, Hocoma AG, Ekso Bionics, EZ Way Inc., Proxomed Medizintechnik, Hill-Rom Services Inc., Klinik Medifit
Table of Contents
1. Executive Summary
2. Rehabilitation Products Market Report Structure
3. Rehabilitation Products Market Trends And Strategies
4. Rehabilitation Products Market – Macro Economic Scenario
5. Rehabilitation Products Market Size And Growth
…..
27. Rehabilitation Products Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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