(PharmaNewsWire.Com, August 19, 2021 ) The Key Growth Elements in Detailed?
The growth in Rehabilitation Equipment Market is primarily driven by the increasing incidence of chronic diseases and the rising geriatric population. In addition, emerging markets such as China and India are expected to offer significant growth opportunities for players in the market during the forecast period. However, a lack of awareness and access to rehabilitation services in emerging markets is expected to restrain Rehab Equipment Market growth.
Worldwide Growth Opportunities in Terms of Revenue:
The Global Rehabilitation Equipment Market is projected to reach USD 16.6 billion by 2025 from USD 12.9 billion in 2020, at a CAGR of 5.2%.
The physical rehabilitation and training segment is expected to grow at the highest CAGR during the forecast period
On the basis of application, the rehabilitation equipment market is segmented into strength, endurance, and pain reduction; physical rehabilitation and training; and occupational rehabilitation and training. The physical rehabilitation and training segment is projected to register the highest CAGR during the forecast period. The high growth of this segment can be attributed to the increasing incidence of sports injuries, degenerative joint disorders, and cerebrovascular diseases.
The therapy equipment segment accounted for the largest market share in 2019
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 accounted for the largest share of the market in 2019. This segment is also 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.
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 rehab equipment market.
Major Key Players Mentioned in the research report are:
Prominent players in the Rehabilitation Equipment Market 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), GF Health Products, Inc. (US), Etac AB (Sweden), Joerns Healthcare (US), Prism Medical UK (UK), EZ Way, Inc. (US), TecnoBody (Italy), Proxomed (Germany), Handicare (Sweden), Sunrise Medical (Germany), Enraf-Nonius (Netherlands), and Antano Group (Italy).
Hill-Rom Services Inc. (US);
Hill-Rom Services Inc. (US) provides a wide range of rehabilitation equipment such as patient lifts, medical beds, and accessories. The company majorly focuses on R&D investments for the continuous development and upgradation of its products. In 2018, the company invested USD 0.14 billion in R&D activities. The company’s constant focus on innovation helps it in enhancing its product offerings and marking its presence in the rehabilitation equipment market.
- In January 2020, Medline Industries, Inc. (US) acquired Médi-Sélect (Canada), a medical and dental supplies distributor, to expand its geographical presence and position in the Quebec market.
- In November 2019, GF Health Products, Inc. (US) launched the Lumex Clinical Care Recliner.
- In January 2018, GF Health Products, Inc. (US) acquired Intensa, Inc. (US) This acquisition allowed GF Heath Products to expand its existing product portfolio in medical/laboratory seating, casework, furniture, and equipment.
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