(PharmaNewsWire.Com, October 05, 2021 ) According to the new market research report “Rehabilitation Equipment Market by Product (Mobility, Cane, Crutches, Walker, Body Support, Lift, Beds, Sling, Exercise, Therapy, Reading, Writing), Application (Physical, OT, Strength) End User (Physiotherapy, Hospital, Clinic) – Global Forecast to 2025″, published by MarketsandMarkets™, the Rehab Equipment Market is projected to reach USD 16.6 billion by 2025 from USD 12.9 billion in 2020, at a CAGR of 5.2%.
Market Size Estimation;
Both top-down and bottom-up approaches were used to estimate and validate the total size of the global rehabilitation equipment market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets have been identified through extensive secondary research.
- The revenue generated from the sale of rehabilitation equipment by leading players has been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Europe dominates the global Rehabilitation Equipment Market.
Based on region, segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2019, Europe accounted for the largest market share. Factors such as supportive government initiatives for safe patient handling, rising geriatric population, and the high burden of chronic conditions are driving the growth of the European market.
The Rehabilitation Equipment Market the presence of several big and small players. Some of the prominent players offering rehabilitation equipment include Invacare Corporation (US), Medline Industries, Inc. (US), Hill-Rom Services Inc. (US), Dynatronics Corporation (US), Drive DeVilbiss Healthcare (US), DJO Global, Inc. (US), Carex Health Brands, Inc. (US), Roma Medical (UK). These players adopted various growth strategies, such as product launches, expansions, acquisitions, partnerships, agreements, and collaborations, to further expand their presence in the global Rehab Equipment Market.
Hill-Rom Holdings provides a wide range of rehabilitation equipment such as patient lifts, medical beds, and accessories. The company majorly focuses on R&D investments for the continuous development and upgradation of its products. In 2018, the company invested USD 0.14 billion in R&D activities. The company’s constant focus on innovation helps it in enhancing its product offerings and marking its presence in the rehabilitation equipment market.
Therapy equipment segment is projected to grow at the highest CAGR during the forecast period.
Based on product, the Rehabilitation Equipment Market is segmented into therapy equipment, daily living aids, mobility equipment, exercise equipment, and body support devices. The therapy equipment segment is projected to register the highest growth rate during the forecast period. The growth of this segment is primarily attributed to the increasing incidence of various injuries and chronic conditions.
The home care settings segment is projected to grow at the highest CAGR during the forecast period.
Based on end user, the Rehab Equipment Market is segmented into hospitals and clinics, rehabilitation centers, physiotherapy centers, home care settings, and other end users. The home care settings segment is projected to grow at the highest CAGR during the forecast period. The growth of this end-user segment can be attributed to the increasing focus on reducing healthcare costs and government initiatives to promote home healthcare. In addition, healthcare spending for home services has grown significantly, reflecting an increase in the use of home-based services.
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