Home Rehabilitation Products & Services Market Incredible Growth During 2031

Tele-rehabilitation Reducing Burden on Healthcare Professionals amid Coronavirus Crisis

The home-based rehabilitation has emerged as one of the supportive programs during the coronavirus pandemic, which is reducing the burden on healthcare professionals in hospitals.

Companies in the home rehabilitation products & services market are expanding their supply chains through eCommerce and online pharmacies to keep economies running during the pandemic.

Tele-rehabilitation and e-health are becoming a fast growing phenomenon in the home rehabilitation products & services market. Success rates are increasing with the help of tele-rehab, since this technique is gaining popularity as an accessible and cost-effective method to improve patient quality of life.

Tele-rehab is helping to increase subject engagement and deploy communication between remote patients and specialists. This trend has the potential to allow better access to rehab care, especially for orthopedic patients. Tele-rehab is demonstrated as a considerable substitute for clinic-based rehab for common musculoskeletal pain.

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VR Emerging as Game Changer for Increasing Patient Care Engagement

Privacy, minimization of stress level, and reduced rate of hospital re-admission are some of the advantages of home-based rehabilitation. However, rehab products and services cannot entirely replace in-person consultations.

This increases risk about patient safety and the lack of supporting infrastructure, including life-sustaining and assistive durable medical equipment (DME). Hence, companies in the home rehabilitation products & services market are increasing their R&D capabilities to innovate in robust support equipment.

The home rehabilitation products & services market is estimated to clock a favorable CAGR of ~7% during the assessment period. Companies should tap into incremental opportunities in virtual reality (VR) and innovate in at-home exercise programs to meet patient needs. Patients training to walk correctly can envision crossing a finish line using VR games. The hybrid virtual practices are helping to keep patients engaged in their care and reduce burden on caregivers.

Next-gen Wearable Sensors Automatically Save Data for Further Patient Analysis

Wearable sensors combined with software are allowing patients to perform exercises in a motivated and correct form. Italian company CoRehab is introducing its Riablo System, which is a wearable sensor used for rehabilitation with neurological, sports, and orthopedic patients of all ages. Such wearable sensors are being highly publicized for ensuring a more effective and fast recovery in patients. The companies in the home rehabilitation products & services market are taking cues from such innovations to develop inertial sensors that help to evaluate the results of each exercise and automatically save data for digital reports & further analysis.

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Med-tech companies and startups in the home rehabilitation products & services market are innovating in wearable sensors that enable patients to perform exercises with biofeedback and acquire a functional range of motion.

Exoskeletons and smart gloves are among other devices gaining increased popularity.

Wearable Modular Robotic Exoskeletons Devices Improve Rehabilitation of Limbs
The exoskeletons are being used as a tool to augment a physical rehab program that provides automated measurements of a patient's progress and allows free movement for people with disabilities in a comfortable & safe form.

The Ukrainian startup UniExo is gaining recognition for its wearable modular robotic exoskeletons devices that improve the rehabilitation of limbs.

The companies in the home rehabilitation products & services market are innovating in devices that detect body position, and with the help of robotic algorithms, make a rehabilitation program under the remote supervision of a doctor.

Home Rehabilitation Products & Services Market: Overview

• According to Transparency Market Research's latest research report on the global home rehabilitation products & services market for the historical period of 2017-2019 and the forecast period of 2020-2031, rise in prevalence of chronic diseases, surge in population with disabilities, and increase in baby boomers are projected to drive the global home rehabilitation products & services market from 2021 to 2031

• According to the report, the global home rehabilitation products & services market was valued at ~US$ 130 Bn in 2020 and is anticipated to expand at a CAGR of ~7% during the forecast period

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Key Drivers of Home Rehabilitation Products & Services Market

• Rise in Prevalence of Chronic Diseases

o Chronic medical conditions such as high blood pressure and diabetes, along with
cardiovascular and respiratory diseases require regular and continuous monitoring. Increase in the number of people diagnosed with chronic diseases drives demand for home healthcare medical devices and services, which, in turn, is projected to boost demand for rehabilitation equipment.

 The American Diabetes Association estimated that one in every three adults in the U.S. will have diabetes by 2050

 According to the WHO, COPD is the fourth leading cause of death across the world. Nearly 2.75 million people succumb to it every year. COPD is likely to be the third leading cause of death by 2030. According to the CDC, over 16 million people in the U.S. are living with respiratory disorders such as lung cancer, COPD, and heart diseases caused due to smoking.

o Rise in number of people diagnosed with chronic conditions increases the uptake of various home care medical solutions such as rehabilitation products, body support devices, and mobility assistive devices.

A report published by the Annals of Internal Medicine in 2013 stated that continuous

monitoring of diseases with home medical devices provides a more accurate picture of chronic conditions rather than relying on repetitive hospital visits. Hence, rise in prevalence of chronic diseases is expected to increase the uptake of home healthcare devices and services, which, in turn, is likely to fuel the growth of the global home rehabilitation products & services market.

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• Increase in Number of Baby Boomers

o Recent advancements in medical science have led to an increase in life expectancy of people, with more number of people exceeding the average age of 50 years. Changing demographics and increase in the geriatric population are shifting a substantial population to the high illness categories that require continuous medical interventions. Surge in the global geriatric population and changing lifestyles are the common risk factors associated with the development of chronic diseases.

o According to the United Nations, the number of people aged 60 years and above is likely to increase from 841 million in 2013 to over 2 billion by 2050. According to the U.S. Census Bureau, in 2011, the baby boomers began turning 65 years of age and by 2029 over 20% of the U.S. population will be over 65 years of age.

o The geriatric patient base would require repeated hospitalization. Hence, increase in the geriatric population and baby boomers is expected to drive demand for medical services at home, including rehabilitation services. This is likely to fuel the growth of the global home rehabilitation products and services market.

• Surge in Population with Disabilities
o Increase in number of persons with disabilities drives demand for rehabilitation products as well as services provided by rehabilitation service providers at home

o In Asia Pacific, 690 million men, women, and children have some form of disability. The number is expected to rise over the next few decades, due to population aging, natural disasters, chronic health conditions, road traffic injuries, poor working conditions, and other factors. Despite constant increase in the number, persons with disabilities tend to be unseen, unheard, and uncounted.

o Number of disabled persons is directly proportional to the sales of rehabilitation products & services. Moreover, patients prefer rehabilitation therapies at home due to the inability to travel to hospitals. This propels demand for home rehabilitation products & services.

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Home Rehabilitation Products & Services Market: Competition Landscape

• This report profiles major players operating in the global home rehabilitation products & services market based on various attributes such as company overview, financial overview, products portfolio, business strategies, and recent developments

• The global home rehabilitation products & services market is moderately fragmented, with the presence of a large number of leading players in the global market and several small players in regional markets. The top players hold major share of the global home rehabilitation products & services market.

• Prominent players operating in the global home rehabilitation products & services market include

o Stryker Corporation
o Prism Medical (subsidiary of Handicare Group AB)
o Invacare Corporation
o DJO Global
o Hocoma AG
o Ekso Bionics Holdings, Inc.
o RehabCare
o AliMed, Inc.
o Active Medical & Rehabilitation Services Pvt. Ltd.
o ergoline GmbH
o Performance Health
o Medline Industries, Inc.

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