Rehabilitation Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3962
Rehabilitation Devices Market size is projected to experience significant growth from 2019 to 2025.
Increasing number of disabilities, resulting from non-communicable diseases coupled with growing geriatric patient pool will stimulate the rehabilitation devices market growth in the forecast timeframe. According to the Centers for Disease Control and Prevention (CDC), in 2018, about 61 million individuals had a disability, impacting their major life activities in the U.S. In a week, about one among seven adults is affected by the most common disability type. Thus, with growing number of road accidents, mobility-affecting diseases and rising baby boomers will significantly impact rehabilitation devices business growth.
Increasing support from the government and technological advancements in the field of rehabilitation devices will positively influence rehabilitation devices industry growth in the coming years. For instance, in June 2019, researchers in South Korea from the Daegu Gyeongbuk Institute of Science and Technology (DGIST) developed a wearable biosensor that adheres to moist as well as dry skin, thereby offering multi-fold benefits. The biosensor monitors multiple biomedical signals, including the pulse at the radial artery of the arm and basic electrocardiography (ECG). Such advancements will augment rehabilitation devices industry growth over the forecast years.
However, high cost of development and maintenance of rehabilitation devices will restrain the rehabilitation devices market growth. Furthermore, stringent regulatory procedures may limit product approvals, thereby hampering the industry growth.
Mobility equipment segment will hold a significant revenue size over the forecast years due to growing population base suffering with some kind of physical impairment. These devices provide increased confidence, greater independence, and reduces pain for the patients to overcome disability, caused by injuries or surgery. Moreover, recent technological advancements in the field of walking assist devices such as ReStore exo-Suit developed by ReWalk Robotics and tripod prosthetic foot will offer lucrative segmental growth.
Physiotherapy application will show momentous growth due to the rising incidence of orthopedic diseases such as arthritis, Parkinson’s disease, and others. Physiotherapy includes a wide variety of techniques to improve, maintain and restore the physical strength of an individual after injury, surgery, and/or illness. Thus, growing incidence of physical and mental impairment disorders leading to physical disability, expanding physiotherapy clinics coupled with improvement in infrastructure in healthcare facilities will further drive the segmental growth.
Hospitals and clinics segment will foresee momentous growth owing to the availability of improved and specialized technology-based devices in these facilities. Growing infrastructure to provide higher quality of treatment and favorable reimbursement policies in hospitals will enhance market growth. Furthermore, increasing penetration of rehabilitation devices in emerging economies along with growing geriatric patient population will impel the segmental growth during the projection timeframe.
U.S. rehabilitation devices market is estimated to foresee a lucrative market growth over the forecast period. Increasing awareness and acceptance of several rehabilitation devices, increasing government support coupled with favorable reimbursement policies will highly impact the market growth. Rising prevalence of orthopedic disorders, especially among women will further boost the demand for rehabilitation devices. Additionally, presence of organizations such as the American Society of Neurorehabilitation (ASNR), supporting patients with disabling neurological conditions, will positively influence the U.S. rehabilitation devices industry growth.
Asia Pacific rehabilitation devices market is forecast to witness attractive growth over the forecast period due to the rising incidence of non-communicable diseases along with presence large patient pool in developing countries such as India and China. Rapid adoption of technologically advanced products in emerging parts of Asia Pacific will spur the regional growth. In addition, improving public and private reimbursement infrastructure and constant development of healthcare facilities will augment Asia Pacific rehabilitation devices market growth.
Some of the companies operating in rehabilitation devices market include Dynatronics Corporation, Medline Industries, Inc., Invacare Corporation, GF Health Products, Inc. and Ekso Bionics among the other players. Industry players focus on strategic partnerships, mergers & acquisitions as well as new product launch to expand their business product portfolio. For instance, in June 2019, ReWalk Robotics, an innovative medical device company involved in development and commercialization of versatile and efficient ReWalk systems received the U.S. FDA approval for ReStore Exo-Suit. The ReStore Exo-Suit system provides strength and guided timing for the patients to relearn and walk quickly. This strategy will expand the company’s rehabilitation devices product portfolio.
Rehabilitation Devices Market by Product, 2014-2025 (USD Million)
- Daily Living Aids
- Medical Beds
- Bathroom & Toilet Assist Devices
- Mobility Equipment
- Wheelchairs & Scooters
- Walking Assist Devices
- Exercise Equipment
- Lower Body Exercise Equipment
- Upper Body Exercise Equipment
- Body Support Devices
- Patient Lifts
- Medical Lifting Slings
Rehabilitation Devices Market by Application, 2014-2025 (USD Million)
- Occupational Therapy
Rehabilitation Devices Market by End-use, 2014-2025 (USD Million)
- Hospitals & Clinics
- Rehabilitation Centers
- Home Care Settings
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Caremax Rehabilitation Equipment Co., Ltd.
- Carex Health Brands, Inc.
- Drive Devilbiss Healthcare
- Dynatronics Corporation
- Ekso Bionics
- GF Health Products, Inc.
- Hospital Equipment Manufacturing Company (HEMC)
- Invacare Corporation
- Medline Industries, Inc.
- Roma Medical
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