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Rising Geriatric Population Fuels The Growth Of Smart Portable Rehabilitation Devices Market: An Emerging Driver Transforming The Smart Portable Rehabilitation Devices Market Landscape
Smart Portable Rehabilitation Devices Market
What Is the Projected Growth of the Smart Portable Rehabilitation Devices Market?
The market size for intelligent, portable rehabilitation devices has experienced swift expansion in the past few years. The market growth is expected to surge from $2.88 billion in 2024 to $3.33 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 15.6%. The historic growth of this sector is largely due to rising disability rates among the population, increased use of virtual reality for patient treatment, and the amplified uptake of VR technology in the healthcare industry.
The market for intelligent rehabilitation devices is anticipated to experience swift expansion in the upcoming years. An estimated value of $5.85 billion can be projected for this market by 2029, with a compound annual growth rate (CAGR) of 15.2%. Factors contributing to this surge during the forecasted period include the swift aging population, an escalation in the rate of non-communicable diseases, multiplication of policies favoring virtual rehabilitation, and an increasing focus on delivering care tailored to the individual patient. Key trends for this period are expected to involve product advancements, strategic partnerships, improvements in virtual rehabilitation, the emergence of newer technologies, and smoother internet connectivity.
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What Are the Different Smart Portable Rehabilitation Devices Market Segments?
The smart portable rehabilitation devices market covered in this report is segmented -
1) By Type: Daily Living Aids, Mobility Equipment, Exercise Equipment, Body Support Devices
2) By Rehabilitation Type: Passive Rehabilitation, Active-Assistive Rehabilitation
3) By End-User: Hospitals And Clinics, Rehabilitation Centers, Physiotherapy Centers, Other End-Users
Subsegments:
1) By Daily Living Aids: Smart Pill Dispensers, Smart Meal Preparation Devices, Smart Home Automation Devices, Assistive Communication Devices
2) By Mobility Equipment: Smart Wheelchairs, Smart Walkers, Smart Scooters, Smart Canes
3) By Exercise Equipment: Smart Resistance Bands, Smart Exercise Bikes, Smart Treadmills, Wearable Fitness Trackers
4) By Body Support Devices: Smart Back Supports, Smart Knee Braces, Smart Ankle Supports, Smart Posture Correctors
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What Are the Primary Drivers Shaping the Smart Portable Rehabilitation Devices Market?
An increase in the number of elderly individuals is anticipated to fuel the growth of the smart portable rehabilitation devices market going forward. The term geriatric population refers to the elderly or senior citizens. These smart portable rehabilitation devices ensure the elderly maintain their freedom and self-sufficiency by offering them the resources to keep track of their health and pursue rehabilitation activities at their convenience. For example, according to the World Health Organization, a Switzerland-based intergovernmental organization, stated in October 2022 that the proportion of the population that is 60 years or older increased to 1.4 billion in 2022. It mentioned that this segment of the population is predicted to reach 2.1 billion by 2050. As such, the smart portable rehabilitation devices market is being propelled by the growing geriatric population.
Which Companies Are Leading in the Smart Portable Rehabilitation Devices Market?
Major companies operating in the smart portable rehabilitation devices market report are Medline Industries Inc., Invacare Corporation, Caremax Rehabilitation Equipment Ltd, Hinge Health, Drive Devilbiss Healthcare, Kinova Robotics, GF Health Products Inc., Dynatronics Corporation, Bioness Inc., Motion Composites, MindMaze, Neofect, Hocoma, Tyromotion, Myomo Inc., Esko Bionics, AlterG, ReWalk Robotics, LiteGait, suitX, Rifton Equipment, InnoMotion, Reha Technology AG, Rex Bionics, Kinestica, Ankon Medical Technologies, DyCare, Bionik Laboratories
What Trends Are Expected to Dominate the Smart Portable Rehabilitation Devices Market in the Next 5 Years?
Prominent firms in the smart portable rehabilitation devices market are entering systematic alliances to establish a competitive advantage. A strategic partnership is a cooperative pact among multiple organizations aiming for mutual benefits. For example, in March 2022, Manipal Hospitals, a healthcare firm based in India, joined forces with ConnectedLife, a Singaporean provider and coordinator of progressive digital services and solutions. The alliance seeks to incorporate Fitbit wearable technology for consistent patient care following high-risk surgical procedures like total knee replacement, angioplasty, and cardiac bypass surgery. The association facilitates remote monitoring and guidance for patients aiming for a robust post-surgical recuperation. Fitbit devices coupled with the patient monitoring platform will gather and document data like heart rate, oxygen saturation level, sleep quality, steps, and pain score, from pre to post-surgery. The collected data is then shared on the ConnectedLife platform for doctor's evaluation.
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What Are the Top Revenue-Generating Geographies in the Smart Portable Rehabilitation Devices Market?
North America was the largest region in the smart portable rehabilitation devices market in 2024. The regions covered in the smart portable rehabilitation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smart Portable Rehabilitation Devices Market?
2. What is the CAGR expected in the Smart Portable Rehabilitation Devices Market?
3. What Are the Key Innovations Transforming the Smart Portable Rehabilitation Devices Industry?
4. Which Region Is Leading the Smart Portable Rehabilitation Devices Market?
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