The Global rehabilitation equipment market is projected to reach USD 14.91 billion, at a CAGR of 8.6%
Rehabilitation Equipment Market growth can be attributed to factors such as increased incidence of disabilities resulting from non-communicable diseases. favorable healthcare reforms, and rapid growth in the geriatric population coupled with the rising prevalence of chronic diseases.
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Rehabilitation Equipment Market By Application:
The rehabilitation equipment market is segmented into physiotherapy and occupational therapy.
The physiotherapy segment commanded the largest share of the rehabilitation equipment market in 2016. The dominance of this segment is attributed to the increasing need for physiotherapy among the aging population & disabled patients and the implementation of favorable government policies
The hospitals & clinics segment accounted for the largest share of the rehabilitation equipment market.
Rehabilitation Equipment Market
Rehabilitation Equipment Market Dynamics:
Market Drivers;
- Increasing Incidence of Disabilities
- Favorable Healthcare Reforms
- Rapid Growth in Geriatric Population
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Home care settings form the fastest growing end-user segment.
Hospitals and Clinics
The dominance of this segment in the rehabilitation equipment market is mainly attributed to the higher quality of treatment provided in hospitals and clinics, as opposed to other end-user segments. Developments in healthcare systems and competition between hospital-based rehabilitation service providers, which have enhanced the quality of care provided, have also contributed to market growth. The growth of the elderly and disabled populations, who are completely dependent on caregivers for daily activities, is another key driver of market growth for this segment.
Growth Analysis For Rehabilitation Equipment Market;
growth strategies mapped from 2014 to February 2017 include product launches & upgrades; partnerships & agreements; expansions; and acquisitions & mergers. Product launches & upgrades accounted for the largest share of the overall strategic developments mapped in the above-mentioned period. Invacare Corporation (U.S), Roma Medical (U.K.), and GF Health Products, Inc. (U.S.) are the companies that majorly adopted this strategy.
Major Key Players in rehabilitation equipment market:
Some of the prominent players in this market are Invacare Corporation (US), Medline Industries, Inc. (US), Dynatronics Corporation (US), Drive DeVilbiss Healthcare (US), Changzhou Qian Jing Rehabilitation Co., Ltd. (China), Carex Health Brands (US), Roma Medical (U.K.)
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