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Evolving Market Trends In The Rehabilitation Equipment Industry: Advancing Rehabilitation Through Immersive Virtual Reality-Based Therapy Product
Rehabilitation Equipment
What Is the Expected Rehabilitation Equipment Market Size During the Forecast Period?
The market for rehabilitation equipment has witnessed a substantial expansion in the recent past. The market value is set to increase from $17.36 billion in 2024 to $18.64 billion in 2025, marking a compound annual growth rate (CAGR) of 7.4%. Factors contributing to this upward trend in the historic phase include the surge in the elderly population, escalating cases of disabilities, increased involvement in sporting activities, growth in chronic illnesses, a spike in sports-related injuries, and a greater emphasis on preventive healthcare.
The market size of rehabilitation equipment is forecasted to experience robust expansion in the upcoming years, aiming to reach a value of $24.48 billion by 2029 and indicating an annual compound growth rate of 7.0%. This market growth in the projected period can be credited to several factors such as the surge in the focus on tailored medical approaches, elevated healthcare expenses, the emergence of telemedicine, and the mounting frequency of degenerative diseases. The dominant trends in this forecast period encompass the incorporation of artificial intelligence (AI), advancements in rehabilitation equipment, the introduction of intelligent rehabilitation devices, the integration of virtual reality (VR) and augmented reality (AR), and remote tracking solutions.
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What Are the High-Growth Segments in the Rehabilitation Equipment Market?
The rehabilitation equipment market covered in this report is segmented -
1) By Product: Therapy Devices, Daily Living Aids, Mobility Equipment, Exercise Equipment, Body Support Devices
2) By Application: Physiotherapy, Occupational Therapy, Other Applications
3) By End-use: Hospitals And Clinics, Rehab Centers, Home Care Settings, Physiotherapy Centers
Subsegments:
1) By Therapy Devices: Electrical Stimulation Devices, Ultrasound Therapy Devices, Heat And Cold Therapy Devices, TENS (Transcutaneous Electrical Nerve Stimulation) Devices
2) By Daily Living Aids: Walking Aids, Dressing Aids, Reaching Aids, Bathing Aids
3) By Mobility Equipment: Wheelchairs, Scooters, Walking Frames, Crutches
4) By Exercise Equipment: Resistance Bands, Exercise Balls, Pedal Exercisers, Treadmills
5) By Body Support Devices: Back And Neck Braces, Knee And Ankle Supports, Shoulder And Elbow Supports, Wrist And Hand Supports
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What Key Drivers Are Expected to Influence Future Rehabilitation Equipment Market Growth?
The growth of the rehabilitation equipment market is expected to be propelled by an increasing demand for home healthcare services. These services encompass a range of medical and non-medical care given to individuals in their residences to cater to their health requirements. Numerous factors such as the aging population, advancements in medical technology and a move towards value-oriented care are driving the demand for home healthcare services. Rehabilitation equipment plays a crucial role in home healthcare by speeding up recovery and enhancing strength, balance, and flexibility. It also promotes independence and guarantees patient safety through personalized monitoring and adjustments. As an example, stats from the Centers for Medicare and Medicaid Services (CMS), a federal agency based in the US, reveal that in March 2024, the number of Medicare Fee for Service (FFS) users making use of home health care saw a rise of 8.3% in 2021 to around 3 million. Across the nation, there are 11,474 Medicare-certified home health organizations. As such, the growing demand for home healthcare services is fueling the rehabilitation equipment market.
Which Companies Hold the Largest Share Across Different Rehabilitation Equipment Market Segments?
Major companies operating in the rehabilitation equipment market report are Medtronic plc; Medline Industries Inc.; Koninklijke Philips N.V.; Stryker Corporation; Hill-Rom Holdings Inc.; Arjo; DJO Global Inc.; Sunrise Medical Limited; Invacare Corporation; Caremax Rehabilitation Equipment Co. Ltd.; Etac AB; Permobil; LINET spol. s.r.o.; Joerns Healthcare LLC; DeVilbiss Healthcare LLC; Hoveround Corporation; Winncare Group; Dynatronics Corporation; GF Health Products Inc.; Roma Medical; Paragon Medical; Merits Health Products Co. Ltd.; Ekso Bionics Holdings Inc.; TecnoBody S.p.A.; Lifeward Inc.; Antano Group; Changzhou Qianjing Rehabilitation Corp. Limited; Besco Medical Co. Ltd.; Vermeiren International; Ossenberg GmbH
What Trends Are Driving Growth in The Rehabilitation Equipment Market?
Leading businesses in the rehabilitation equipment market are focusing on the creation of advanced technologies such as virtual reality-based rehabilitation platforms to maintain a leading edge in the marketplace. A VR-based rehab platform is a digital tool that uses virtual reality tech to aid the rehabilitation and treatment processes of individuals with physical or cognitive disabilities. For example, Penumbra Inc., a healthcare organization based in the US, introduced the REAL y-Series in November 2022. This pioneering product is a comprehensive VR-based rehabilitation platform for both the upper and lower extremities of the body, accompanied by a whole-body avatar. It is aimed at supporting patients undergoing physical or occupational therapy by fostering improvement in their physical, cognitive and mental wellness. This all-inclusive rehabilitation solution is intended to boost patient engagement, achievement, and results by offering a holistic approach to therapy that covers a range of requirements, from core and balance training to cognitive stimulation and everyday life activities.
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What Are the Emerging Geographies for The Rehabilitation Equipment Market Growth?
North America was the largest region in the rehabilitation equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the rehabilitation equipment 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 Rehabilitation Equipment Market?
2. What is the CAGR expected in the Rehabilitation Equipment Market?
3. What Are the Key Innovations Transforming the Rehabilitation Equipment Industry?
4. Which Region Is Leading the Rehabilitation Equipment Market?
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