Sarasota, FL -- (SBWire) -- 05/01/2019 --According to the report, the global rehabilitation equipment market was valued at approximately USD 10.53 billion in 2017 and is expected to generate revenue of around USD 16.44 billion by 2024, growing at a CAGR of around 6.56% between 2018 and 2024.
Rehabilitation equipment is used to treat patients suffering from physical, sensory, or mental impairments. These impairments are generally caused due to illness, injuries, or diseases. Rehabilitation includes assisting patients for the deficits that cannot be reversed back medically. These sessions are generally carried out by experienced and trained therapists.
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Rehabilitation equipment market is segmented based on type, application, and end-user. By type, the rehabilitation equipment market is classified into daily living aids, mobility equipment, exercise equipment, and body support devices. The daily living aids segment is further sub-segmented into toilet and bathroom assist devices, medical beds, and writing, computing, and reading aids. The mobility equipment segment includes walking assist devices and scooters and wheelchairs. The exercise equipment segment is further divided into total body, lower body, and upper body exercise equipment. The body support devices segment includes medical lifting slings and patient slings. In 2016, the mobile equipment segment held around 37% share of the rehabilitation equipment market. Growing geriatric population and accidents causing walking impairments are mainly driving the mobility equipment segment of the rehabilitation equipment market.
By application, the rehabilitation equipment market is segmented into physiotherapy and occupational therapy. The physiotherapy segment is anticipated to show high growth, owing to the rise in the number of physiotherapy centers. Additionally, the growing geriatric population suffering from orthopedic problems, rising bone-related disorders, and rapid technological advancements related to physiotherapy are anticipated to fuel the physiotherapy segment in the forecast timeframe.
The end-user segment includes hospitals and clinics, rehabilitation centers, home care settings, and physiotherapy centers. In 2016, the hospitals and clinics segment held approximately 33% share and is expected to lead the rehabilitation equipment market, owing to high treatment quality, the presence of technologically advanced products, and the presence of a large patient pool.
Asia Pacific, Latin America, Europe, North America, and the Middle East and Africa are the regional segments of the global rehabilitation equipment market. Europe is anticipated to lead the market in the forecast time period, due to the growing geriatric population, rapidly developing healthcare industry, increasing awareness about rehabilitation centers, and supportive government initiatives. Prevalence of orthopedic disorders, rising prevalence of lifestyle disorders, strong reimbursement policies enforced by the government, and the presence of major companies are predicted to fuel the North American rehabilitation equipment market. In the forecast time period, Asia Pacific is anticipated to follow North America and Europe, due to improving reimbursement policies, the presence of developing countries, like India and China, rise in the prevalence of non-communicable diseases, such as cancer, and rapid adoption of new technologies. Latin America and the Middle East and Africa are projected to show slow growth in the forecast time period. Evolving healthcare infrastructure, increasing awareness about rehabilitation equipment, favorable government initiatives, and the rising prevalence of orthopedic disorders are likely to fuel the rehabilitation equipment market growth in these regions.
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The major players involved in the global rehabilitation equipment market are Caremax Rehabilitation Equipment Co. Ltd., Changzhou QianJing Rehabilitation Co., Ltd., Hospital Equipment Manufacturing Company, Drive DeVilbiss Healthcare, Medline Industries Inc., Roma Medical, GF Health Products, Inc., Dynatronics Corporation, Carex Health Brands, and Invacare Corporation.
This report segments the global rehabilitation equipment market as follows:
Global Rehabilitation Equipment Market: Type Segment Analysis
Daily Living Aids
Medical Beds
Bathroom & Toilet Assist Devices
Reading, Writing & Computing
Mobility Equipment
Wheelchairs & Scooters
Walking Assist Devices
Exercise Equipment
Lower Body Exercise Equipment
Upper Body Exercise Equipment
Total Body Exercise Equipment
Body Support Devices
Patients Lifts
Medical Lifting Slings
Global Rehabilitation Equipment Market: Application Segment Analysis
Physiotherapy
Occupational Therapy
Global Rehabilitation Equipment Market: End-User Segment Analysis
Hospitals& Clinics
Rehabilitation Centers
Home Care Settings
Physiotherapy Centers
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Global Rehabilitation Equipment Market: Regional Segment Analysis
North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
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Rehabilitation Equipment Market Expected to Generate Revenue of Around USD 16.44 Billion by 2024
Global rehabilitation equipment market expected to generate revenue of around USD 16.44 billion by 2024, growing at a CAGR of around 6.56% between 2018 and 2024. Rehabilitation equipment is used to treat patients suffering from physical, sensory, or mental impairments. These impairments are generally caused due to illness, injuries, or diseases.