According to the new market research report “Rehabilitation Equipment Market by Product (Medical Bed, Mobility Scooter, Walker, Crutcher, Cane, Patient Lift, Sling), Application (Physical, OT, Lower-body Exercise Equipment), End User (Rehabilitation & Physiotherapy Center) — Global Forecast to 2027”, published by MarketsandMarkets™, the global market is projected to reach USD 19.8 billion by 2027 from USD 14.9 billion in 2022, at a CAGR of 5.9% during the forecast period.
Browse in-depth TOC on “Rehabilitation Equipment Market”
220 — Tables
33 — Figures
250 — Pages
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Key Market Players:
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)
“Europe to witness the highest growth rate during the forecast period.”
Europe accounted for the largest share of the global rehabilitation equipment market. The large share of this regional segment is attributed to a significant contribution from an economically stable and technologically advanced countries such as Germany, UK, and France. Increasing geriatric population and rising prevalence of musculoskeletal disorders across these countries are driving the market growth in Europe. The Asia Pacific market is projected to register the highest CAGR during the forecast period. Market growth in the Asia Pacific is attributed to the rising healthcare expenditure and growing number of healthcare facilities in Asian countries.
Market Dynamics
Market Drivers
- Increasing incidence of chronic diseases
- Increasing demand for rehabilitation care with expanding access to healthcare
- Rising geriatric and obese populations
- Risk of injuries to caregivers while handling patients manually
Market Restraints
- Lack of awareness and access to rehabilitation services in emerging markets
Opportunities
- Growth potential in emerging countries
- Rising demand for home healthcare services
Challenges
- Reimbursement issues
- Persistent difficulties in handling bariatric patients
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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