PORTLAND, OR, April 11, 2023 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, The The global rehabilitation equipment market will generate $19.50 billion in 2021Witness a CAGR of 7.7% from 2022 to 2031. The report provides detailed analysis of market trends, top segments, key investment pockets, value chains, regional landscape, and competitive landscape. The report is a useful source of information for leading market players, new entrants, investors and stakeholders to formulate future strategies and take steps to strengthen their position in the market.
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Report coverage and details:
|Market size in 2021||$19.50 billion|
|Market size in 2031||$41.3 billion|
|Number of pages in the report||263|
|Sections covered||Product type, application, end user, and region|
|Drivers||Increase in the geriatric population suffering from osteoarthritis|
|An increase in the prevalence of chronic diseases, such as rheumatoid arthritis, multiple sclerosis, Parkinson’s disease, and others|
|Increase in technological advancements for rehabilitation devices|
|opportunities||Increase in demand for elderly and disabled support services|
|Growth in the geriatric population suffering from permanent and temporary disabilities in developing countries|
|Restrictions||High costs associated with rehabilitation devices|
The Covid-19 scenario
- Due to the reduction in the number of sports related activities and sports competitions due to the epidemic of covid-19, the rehabilitation equipment market was negatively affected.
- Due to the lockdown imposed by the governments of various countries due to the epidemic, the rate of road accidents has also decreased. Thus, the overall impact of the Covid-19 pandemic remained negative on the rehabilitation equipment market due to healthcare disruptions.
- However, the market has improved after the epidemic. Rapid growth in the geriatric population and changes in lifestyles lead to an increase in the number of chronic diseases, arthritis and other cases, thereby driving the growth of the market.
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The report provides detailed segmentation of the global rehabilitation equipment market based on product type, application, end user, and region. The report provides analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants to determine the sub-segments to achieve growth in the coming years.
On the basis of product type, the mobility aids segment accounted for the largest share in 2021, accounting for nearly half of the global rehabilitation equipment market and will dominate the market in terms of revenue by 2031. Also, the same segment will quote the fastest CAGR of 8.1. % from 2022 to 2031. The report also discusses the daily living materials, exercise equipment, and body support equipment segments.
In terms of application, the physiotherapy segment captured the largest market share of nearly half of the global rehabilitation equipment market in 2021 and is expected to lead in terms of revenue in 2031. The same segment is expected to achieve the fastest CAGR of 8.1%. Forecast time period. The report also analyzes occupational therapy and other segments.
On the basis of end-user, the hospital and clinic segment accounted for the largest share in 2021, holding more than two-fifths of the global rehabilitation equipment market revenue and is expected to maintain its leadership in terms of revenue over the forecast period. The same segment is estimated to grow at the highest CAGR of 8.1% throughout the forecast period. The report also studies the rehabilitation centers and homecare settings segments.
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On the basis of region, North America will account for the largest share in 2021, contributing nearly two-fifths of the global rehabilitation equipment market revenue and is projected to retain its dominant share in terms of revenue over the forecast period. On the other hand, the Asia-Pacific region is expected to reveal the fastest CAGR of 8.7% during the forecast period. Other regions analyzed in the study include LAMEA and Europe.
Major market players analyzed in the global rehabilitation equipment market report include ReWalk Robotics Ltd., Roma Medical, Medline Industries, LP, Caremax Rehabilitation Equipment Company Ltd., GF Health Products, Inc., Medical Depot, Inc., Hospital Equipment Mfg. Co., Baxter International Inc., Exo Bionics, and Invacare Corporation.
The report analyzes these key players in the global Rehabilitation Equipment market. These players have adopted various strategies such as expansions, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining business performance, operating segments, product portfolio, and development by each market player.
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