Home > Pressrelease > Rehabilitation Equipment Market worth over $31bn by 2026

Rehabilitation Equipment Market worth over $31bn by 2026

  • Published Date: December 22, 2020

Rehabilitation Equipment Market size is set to exceed USD 31.2 billion by 2026, according to a new research report by Global Market Insights Inc.

Recent technological advancements have stimulated the demand for rehabilitation therapy. Anti-gravity robotic treadmill is a promising technology that enables patients suffering from neurological conditions to regain or improve their ability to move and walk. Additionally, increasing number of rehabilitation therapy service providers have been incorporating video games into their therapy services. Video game programs are an effective way to engage residents toward recovery if used in conjunction with traditional rehabilitation services.

Consistent technological advancements are leading to commercialization and introduction of novel equipment for rehabilitation. Robotic exoskeletons provide recovery assistance to patients efficiently. These advancements help in powering hip and knee motion that allows residents who would not be able to stand or walk without assistance to do so, which helps promote recovery. Remarkable breakthroughs have also taken place in brain computer interface, wearable sensors and monitors resulting in development of innovative neurorehabilitation devices. Through such advancements in technology, post-injury rehabilitation is providing expedited recovery, standardization of treatments, closer discharge to prior injury status, and reduced disability.

Growing geriatric population coupled with rising prevalence of chronic diseases will significantly uplift the rehabilitation equipment market growth in the coming years. The principles of rehabilitation are particularly applicable to the geriatric population because the quality of life for elderly people is closely linked to preservation of functional independence. Therefore, the demand for will significantly increase with rise in geriatric population. According to an article published in the National Centre for Biotechnology Information (NCBI), approximately 13 countries across the globe are anticipated to have more than 20% of their population aged 65 years or older by the end of 2020. The growing geriatric population opting for rehabilitation therapy owing to rising incidences of physical impairment and chronic diseases will enhance the demand for physiotherapy equipment. Elderly population is prone to injuries due to mechanical falls and neurological impairments such as vision and hearing impairments. As a result, geriatric population is highly recommended to undergo rehabilitation therapy.

Increasing incidences of chronic disorders worldwide is stimulating the demand for rehabilitation therapy. Patients suffering from obesity disorder are associated with an increased risk of cardiovascular and metabolic diseases. Moreover, growing number of people suffering from chronic obstructive pulmonary disease (COPD) is spurring the demand for rehabilitation therapy driven by reduced lung capacity and strength in such patients.

Browse key industry insights spread across 256 pages with 299 market data tables &  12 figures & charts from the report, Rehabilitation Equipment Market Size By Product (Cardiopulmonary Rehabilitation Equipment {Elliptical Trainer, Stabilization Ball, Stationary Bicycle, Treadmill, Rower, Heart Rate Monitor, Blood Pressure Monitor}, Musculoskeletal Rehabilitation Equipment {Laser Therapy, Ultrasound, Electrotherapy}, Neurological Rehabilitation Equipment {Neuro-robotic Devices [Upper Limb Devices, Lower Limb Devices, Lower Arm Devices, Gait Training Devices, Exoskeleton Devices], Non-invasive Stimulators, Wearable Devices, Brain Computer Interface, Neuro-rehabilitation Assessment Equipment, Consumer Neuro-rehabilitation Equipment], Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026in detail along with the table of contents:

Growing prevalence of musculoskeletal disorders will boost the market expansion

Musculoskeletal segment in the rehabilitation equipment market valued at more than USD 13.1 billion in 2019 led by the increasing incidences of musculoskeletal disorders, sports and accidental injuries. Geriatric population is prone to mechanical falls and are recommended to undergo physical rehabilitation. Therefore, rapidly rising geriatric population is additionally augmenting the demand for rehabilitation therapy. In addition, growing incidences of obesity in the North America region has also resulted in increased number of people suffering from physical disability, thereby fueling the demand for physiotherapy. Hence, there is a high demand for electrotherapy equipment and devices for musculoskeletal physiotherapy equipment that will propel the market size during the forecast period.

Neurological rehabilitation equipment market exceeded USD 2.8 billion in 2019 impelled by increasing number of people suffering from neurological conditions. Rising incidences of neurological disorders have created a huge demand for neurorehabilitation devices. Growing focus of the companies on technological development such as robotic, brain computer interface rehabilitation device and wearable rehabilitation devices will drive the segment growth.

Initiatives by the government organizations will create growth opportunities for Japan region

Japan rehabilitation equipment market size was over USD 1 billion in 2019 on account of the significantly increasing geriatric population in the country. Various government organizations are engaged in improving rehabilitation services in the country to treat the growing geriatric population with physical disabilities leading to an increased demand for physiotherapy equipment. The Ministry of Labor also operates several rehabilitation programs for disabled individuals. Moreover, the Japanese Association of Rehabilitation Medicine (JARM) is engaged in the promotion of preventive rehabilitation, the full implementation of the rehabilitation-first principle and the reform of the social security system including medical insurance and long-term care insurance.

Market players are focusing on various strategies for expansion

Some of the major companies operating in the rehabilitation equipment market are OMRON Corporation, LifeWatch AG, Honeywell International, Inc., Philips, Halma plc, Bioness, Inc., St. Jude Medical, Inc., DJO Global and MicroPort Scientific Corporation among others. These market leaders are undertaking strategies such as product launches and collaborations to generate significant revenue and maintain a competitive edge over other market participants.

Authors: Sumant Ugalmugle, Rupali Swain

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