Rehabilitation Equipment Market worth $19.8 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, June 8, 2022 /PRNewswire/ -- 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.
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220 – Tables
33 – Figures
250 – Pages
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The High risk of injuries to caregivers during the manual handling of patients, rising geriatric and obese populations, increasing demand for rehabilitative care with an expanding access to healthcare, and increasing incidence of chronic diseases is driving the revenue growth in the market. However, a persistence difficulties in handling bariatric patients and reimbursement issues are some of the key growth challenges in the market.
By Product, therapy equipment was the largest and fastest-growing segment in the rehabilitation equipment market in 2021.
Based on product, the market is segmented into therapy equipment, daily living aids, mobility equipment, exercise equipment, and body support devices. In 2021, the therapy equipment segment accounted for the largest share of the market. The large share of this segment can primarily be attributed to the increasing incidence of injuries & chronic conditions and the rising demand for rehabilitation therapies in the geriatric age group.
Physical rehabilitation and training segment is the largest application segment in the rehabilitation equipment market in 2021
Based on application, the rehabilitation equipments market is segmented into physical rehabilitation & training; strength, endurance, and pain reduction; and occupational rehabilitation & training. In 2021, the physical rehabilitation & training segment accounted for the largest share of the market. Increase in incidence of sports injuries, cerebrovascular diseases, and degenerative joint disorders are driving the growth of the segment.
Hospitals and clinics segment is the largest end user segment in the rehabilitation equipment market in 2021
Based on end users, the market is segmented into hospitals & clinics, rehabilitation centers, physiotherapy centers, home care settings, and other end users. In 2021, the hospitals and clinics segment accounted for the largest share of the market. This can be attributed to the supportive reimbursement policies for hospital treatment and the large volume of patients undergoing treatments for various health conditions requiring rehabilitative care.
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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 the growing number of government and non-government initiatives regarding the adoption of safe rehabilitation equipment and the presence of a large number of rehabilitation equipment manufacturers 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 growing number of healthcare facilities in Asian countries and rising awareness towards rehabilitative care.
The key players operating in the rehabilitation equipment market include Baxter International (US), Invacare Corporation (US), Medline Industries LP (US), and Arjo (Sweden).
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