(PharmaNewsWire.Com, June 03, 2020 ) The report "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", is projected to reach USD 16.6 billion by 2025 from USD 12.9 billion in 2020, at a CAGR of 5.2%.
The study involved four major activities in estimating the current size of the global rehabilitation equipment market. Exhaustive secondary research was done to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing values with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
Secondary Research:
Secondary research was mainly used to identify and collect information for the extensive, technical, market-oriented, and commercial study of the global rehabilitation equipment market. Secondary sources such as directories; databases such as Bloomberg Business, Factiva, and Wall Street Journal; white papers; and annual reports were used to obtain key information about major players, market classification and segmentation according to industry trends, regional/country-level markets, and market developments.
Primary Research:
In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify the critical qualitative and quantitative information as well as assess prospects of the market.
Therapy equipment segment is projected to grow at the highest CAGR during the forecast period.
Based on product, the rehabilitation equipment market is segmented into therapy equipment, daily living aids, mobility equipment, exercise equipment, and body support devices. The therapy equipment segment is 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.
Based on end user, the home care settings segment is projected to grow at the highest CAGR during the forecast period.
Based on end user, the rehabilitation equipment market is segmented into hospitals and clinics, rehabilitation centers, physiotherapy centers, home care settings, and other end users. The home care settings segment is projected to grow at the highest CAGR during the forecast period. The growth of this end-user segment can be attributed to the increasing focus on reducing healthcare costs and government initiatives to promote home healthcare. In addition, healthcare spending for home services has grown significantly, reflecting an increase in the use of home-based services.
Europe dominates the global rehabilitation equipment market.
Based on region, the rehabilitation equipment market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2019, Europe accounted for the largest market share. 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 rehabilitation equipment market is marked by the presence of several big and small players. Some of the prominent players offering rehabilitation equipment include Invacare Corporation (US), Medline Industries, Inc. (US), Hill-Rom Services Inc. (US), Dynatronics Corporation (US), Drive DeVilbiss Healthcare (US), DJO Global, Inc. (US), Carex Health Brands, Inc. (US), Roma Medical (UK), Caremax Rehabilitation Equipment Co., Ltd. (China)
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