Rehabilitation Equipment Market Reach USD 23.65 in 2024 by 2030: Growth Projections and Key Drivers

The Rehabilitation Equipment Market across the globe is witnessing an impressive growth due to growing geriatric population, rising incidences of chronic diseases and technological innovations. The market was valued at nearly USD 15.73 billion in 2023 and is expected to grow at a CAGR 6% and reach USD 23.65 billion by 2030.

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Market Estimates, Growth Drivers and Opportunities

The rapidly increasing number of the aged population globally is propelling the demand for the rehabilitation equipment, especially mobility-based rehabilitation equipment, which would facilitate independent living. Further, the growing incidence of chronic disorders, including arthritis, stroke, and cardiovascular diseases, requires long-term rehabilitation therapies to improve mobility and functionality of the patients.

Technology-related advances are a key driver of market growth. Innovations like robotic-assisted rehabilitation, virtual reality (VR) therapy, and smart wearables are changing the way rehabilitation services are delivered, offering more effective and accessible therapies.

Investment trends in the U.S. market

U.S. Rehabilitation Equipment Market in 2024: Trends and Investment Arguably, the biggest piece of news came from ResMed, whose shares jumped 24% after being reduced early on by fears that competition from GLP-1 obesity drugs could cripple demand for ResMed's CPAP machines used to treat obstructive sleep apnea (OSA). Nonetheless, analysts concluded that the impact would be limited on ResMed's business, since only a fraction of GLP-1 users have OSA and not all are on CPAP masks. In addition, GLP-1 users focused on respiratory health might actually drive demand for ResMed's goods.

Market segmentation and their dominant segments

On the basis of product type, application, and end-user, the rehabilitation equipment market is segmented. In these, mobility equipment tessus the largest market share of 38% in 2024. This also covers devices such as wheelchairs, scooters, and walkers, which assist people with mobility impairments.

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Competitive Analysis

The global rehabilitation equipment market is consolidated with a few of the key players. Here are the top five market share companies:

Invacare Corporation: Known for its comprehensive range of home and long-term acute care medical products, Invacare has unveiled the next-gen e-fix eco Power Assist Device at its mobile unit to upgrade its manual wheelchairs, extending mobility options for customers.

And you are livres for data until October 2023.

Drive DeVilbiss Healthcare: A leader in advanced respiratory and rehabilitation products, Drive DeVilbiss Healthcare has been actively working to integrate advanced technologies into entry-level equipment to maximize performance and improve patient outcomes.

Trained on data until October 2023 Specializing in solutions for sleep apnea and respiratory care, ResMed also had significant stock gains in October 2023.

Ekso Bionics - A Leading player in the field of exoskeleton technology, Ekso Bionics focused on the creation of wearable robots to enhance human strength, endurance and mobility, providing revolutionary applications in rehabilitation.

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Regional Analysis

North America: North America accounts for the major share of global rehabilitation equipment market, due to the well-structured healthcare infrastructure and high prevalence of chronic diseases. Market growth is further surged by government initiatives to guide healthcare innovation and favorable reimbursement policies.

U.K. - Market growth in the U.K. is driven by the National Health Service (NHS)'s efforts to improve healthcare integration with cutting-edge rehabilitation technologies and growing healthcare investments in the country.

Germany: Germany boasts a significant market share thanks to its aging demographic and health-conscious culture. U.S. government policies supporting medical device innovation and rehabilitation services drive market expansion.

France: The growth of rehabilitation equipment market in France is attributed to government efforts to improve healthcare services and adopt advanced rehabilitation technologies.

Japan: With the oldest population in the world, the demand for rehabilitation equipment in Japan is high. Market growth is further driven by government policies promoting the elderly population and technological innovations in medical devices.

China: China is experiencing rapid market growth due to its large population base, increasing healthcare investments, and government policies aimed at enhancing accessibility and quality of healthcare.

Conclusion

The global rehabilitation equipment market is expected to witness significant growth in the coming years owing to changing demographics, technological advancements, and favorable government policies. With an aging population and increased rates of chronic illness, there are great opportunities for new devices and technologies to help us live healthier, more active lives. Firms that focus on investing in R& D, forming strategic partnerships, and expanding their global presence are set to thrive in the rapidly growing global demand for rehabilitation apparatus.

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