The rehabilitation 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%
NEW YORK, March 17, 2020 /PRNewswire/ --
The global rehabilitation equipment market is projected to grow at a CAGR of 5.2% during the forecast period.
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The rehabilitation 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%. The growth in this 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.
The therapy equipment segment accounted for the largest share of the rehabilitation equipment market, by product, 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.In 2019, the therapy equipment segment accounted for the largest share of the rehabilitation equipment market.
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.
Physical rehabilitation and training is the largest application segment of the rehabilitation equipment market in 2019.
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 accounted for the largest market share in 2019.
The large share of this segment can be attributed to the increasing incidence of sports injuries, degenerative joint disorders, and cerebrovascular diseases.
Asia Pacific to witness the highest growth during the forecast period.
The rehabilitation equipment market, by region, is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).In 2019, Europe accounted for the largest market share, followed by North America.
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 rehabilitation equipment market.The Asia Pacific market, on the other hand, 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.
The primary interviews conducted for this report can be categorized as follows:
-- By Company Type: Tier 1: 50%, Tier 2: 30%, and Tier 3: 20%
-- By Designation: C-level: 37%, D-level: 29%, and Others: 34%
-- By Region: North America: 37%, Europe: 22%, Asia Pacific: 32%, and the RoW: 9%
List of companies profiled in this report
-- 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)
-- Joerns Healthcare (US)
-- Prism Medical UK (UK)
-- EZ Way, Inc. (US)
-- TecnoBody (Italy)
-- Proxomed (Germany)
-- Handicare (Sweden)
-- Sunrise Medical (Germany)
-- Enraf-Nonius (Netherlands)
-- Antano Group (Italy)
Research Coverage:
The report provides an overview of the rehabilitation equipment market.It aims at estimating the market size and growth potential of this market across different segments such as product, application, end user, and region.
The report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in the rehabilitation equipment market by providing them with the closest approximations of revenues for the overall market and its subsegments. This report will help stakeholders to understand the competitive landscape better and gain insights to position their businesses and help companies adopt suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provide them with information regarding key market drivers and opportunities
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