Rehabilitation Equipment Market: A Look at the Industry’s Growth and Future Prospects Report 2030
Global Rehabilitation Equipment Market Forecast to 2030
The global rehabilitation equipment market size reached USD 14.10 Billion in 2021 and is expected to register a revenue CAGR of 6.0% during the forecast period, according to the latest analysis by Emergen Research. Increasing prevalence of chronic and neurodegenerative diseases, rising demand for rehabilitation care associated with healthcare, and favorable reimbursement policies among developed countries are some of the leading factors driving revenue growth of the market. In addition, increasing research and activities in healthcare is contributing to revenue growth of the market.
Prevalence of chronic and neurodegenerative diseases is a major factor driving revenue growth of the market. Spinal Muscular Atrophy (SMA) is an autosomal recessive neuromuscular disease that gradually weakens and paralyzes the proximal muscles. According to the report, SMA type I accounts for about 60% of all cases, with an estimated prevalence of 1-2 per 100,000 people and incidence of 1 in 10,000. Rehabilitation, therefore, aids in reducing the incapacitating effects of long-term medical conditions. Furthermore, rising demand for rehabilitation care associated with healthcare is driving revenue growth of the rehabilitation market due to increasing government initiatives and several regulatory approvals for rehabilitation products. Rising prevalence of chronic and neurodegenerative diseases is a major factor driving revenue growth of the market. SMA is an autosomal recessive neuromuscular disease that gradually weakens and paralyses the proximal muscles since the alpha motor neurons in the spinal cord atrophy. According to the report, SMA type I accounts for about 60% of all cases, with an estimated prevalence of 1-2 per 100,000 people and 1 in 10,000. Rehabilitation, therefore, aids in reducing the incapacitating effects of long-term medical conditions.
Lack of knowledge regarding the proper use of rehabilitation equipment could restrain revenue growth of the market. For instance, the body’s ability to function can be seriously harmed by improper care and rehabilitation following a stroke. Furthermore, high maintenance costs of rehabilitation equipment is another factor, which could hamper revenue growth of the market.
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Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key Companies Profiled in the Report:
Lusio Rehab, Baxter International Inc., Invacare Corporation., ANTANO GROUP, TecnoBody, Evosonics.Co., Ltd., Medline Industries, Inc., LINET, GF Health Products, Inc., and Ekso Bionics
The report offers insightful information about the market dynamics of the Rehabilitation Equipment market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Rehabilitation Equipment market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Rehabilitation Equipment market.
Radical Highlights of the Rehabilitation Equipment Market Report:
- The daily living aids segment accounted for largest revenue share in 2021 due to increasing use of toilet and bathroom accessories and medical bed accessories for patients. These gadgets, which include adaptive cutlery, non-slip floor struts, and extensions for lamps and light switches, are all designed to make daily life much simpler. They aid in people maintaining their independence by making it simpler for them to complete their daily tasks and regain control over their environment. Use of bathing tools implements with extended handles, such as back washers, hair washers, and body washers is advantageous to users who might not be as flexible or mobile. These factors are driving revenue growth of the segment.
- The physiotherapy centers segment is expected to account for significantly rapid revenue CAGR during the forecast period. Physiotherapy centers frequently employ a variety of physiotherapy techniques, including manual physical therapy, the Graston Technique, the McKenzie Treatment, and active release technique. Physiotherapy enables patients to move and function normally by promoting growth and hastening the healing process. It promotes greater independence and the freedom to conduct daily activities wherever one chooses at home, at work, or even in one’s favorite hangout. It can improve cardio-respiratory health, strengthen muscles, reduce pain, and increase joint mobility.
- The market in North America accounted for largest revenue share in 2021 due to presence of leading companies, rising company partnerships and investments in rehabilitation. For instance, on 6 March 2022, a definitive merger agreement was announced between Bristol Myers Squibb and Turning Point Therapeutics, Inc., which is a clinical-stage highly precise oncology company with a pipeline of investigational drugs. Bristol Myers Squibb will purchase Turning Point Therapeutics for USD 76.00 per share. The board of directors of Bristol Myers Squibb and Turning Point Therapeutics unanimously approved the deal, and it is planned to close in the third quarter of 2022. Thus these leading company investments are driving revenue growth of the market in this region.
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Rehabilitation Equipment Market Segmentation:
The report bifurcates the Rehabilitation Equipment market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Daily Living Aids
- Exercise equipment
- Body support devices
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Occupational therapy
- End-use Outlook (Revenue, USD Billion; 2019-2030)
- Rehab centers
- Physiotherapy centers
- Homecare settings
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
In conclusion, the Rehabilitation Equipment Market report is an exhaustive database that will help readers formulate lucrative strategies. The Rehabilitation Equipment Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Rehabilitation Equipment market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Rehabilitation Equipment with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
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