Europe dominates the rehabilitation equipment market in 2019
Northbrook, IL — (SBWIRE) — 02/21/2022 — The Research Report on “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?, is projected to reach USD 16.6 billion by 2025 from USD 12.9 billion in 2020, at a CAGR of 5.2%.
The growth in Rehab Equipment Market is primarily driven by the increasing incidence of chronic diseases and the rising geriatric population. In addition, emerging markets such as China and India are expected to offer significant growth opportunities for players in the rehabilitation equipment market during the forecast period. However, a lack of awareness and access to rehabilitation services in emerging markets is expected to restrain market growth.
– In January 2020, Medline Industries, Inc. (US) acquired Medi-Select (Canada), a medical and dental supplies distributor, to expand its geographical presence and position in the Quebec market.
– In November 2019, GF Health Products, Inc. (US) launched the Lumex Clinical Care Recliner.
– In January 2018, GF Health Products, Inc. (US) acquired Intensa, Inc. (US) This acquisition allowed GF Heath Products to expand its existing product portfolio in medical/laboratory seating, casework, furniture, and equipment.
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Industry Segmentation In Detailed:
The physical rehabilitation and training segment is expected to grow at the highest CAGR during the forecast period
On the basis of application, the rehabilitation equipment market is segmented into strength, endurance, and pain reduction; physical rehabilitation and training; and occupational rehabilitation and training. The physical rehabilitation and training segment is projected to register the highest CAGR during the forecast period. The high growth of this segment can be attributed to the increasing incidence of sports injuries, degenerative joint disorders, and cerebrovascular diseases.
The therapy equipment segment accounted for the largest market share in 2019
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 accounted for the largest share of the market in 2019. This segment is also 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 hospitals and clinics segment accounted for the largest share of the end-user market in 2019
Based on end user, the rehabilitation equipment market is segmented into hospitals and clinics, rehabilitation centers, physiotherapy centers, home care settings, and other end users. In 2019, the hospitals and clinics segment accounted for the largest market share. The large share of this segment can primarily be attributed to the supportive reimbursement policies for hospital-based treatment and the large volume of patients undergoing treatments for various health conditions at hospitals.
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Leading Key Players and Analysis:
The rehabilitation equipment market is marked by 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), Caremax Rehabilitation Equipment Co., Ltd. (China), GF Health Products, Inc. (US), Etac AB (Sweden).
Geographical Analysis in Detailed:
In 2019, Europe accounted for the largest share of the market. 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. On the other hand, the market in the Asia Pacific is projected to register the highest CAGR during the forecast period. This can be attributed to the growing prevalence of chronic conditions, increasing venture capital investments, availability of technologically advanced products, and strategic expansion of market players in this region.
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