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Smart Portable Rehabilitation Devices Market: Major Trends Reshaping the Future of the Industry
Smart Portable Rehabilitation Devices Market
What Will the Smart Portable Rehabilitation Devices Industry Market Size Be by 2025?
In recent times, the market size for smart portable rehabilitation devices has witnessed substantial growth. It is projected to rise from $2.88 billion in 2024 to $3.33 billion in 2025, achieving a compound annual growth rate (CAGR) of 15.6%. The notable growth during the historic period is mainly due to rising cases of disability in the population, escalating use of virtual reality for patient treatment, and growing acceptance of VR technology in the healthcare sector.
What's the Long-Term Growth Forecast for the Smart Portable Rehabilitation Devices Market Size Through 2029?
The market for intelligent portable rehabilitation devices is set to undergo a fast-paced expansion in the coming years, with the prediction to reach a value of $5.85 billion by 2029, escalating at a CAGR of 15.2%. The expected growth during the forecast period can be related to the swift aging of the population, rising incidents of non-communicable diseases, flourishing policies promoting virtual rehabilitation, and an increasing focus on patient-centric healthcare. Prominent trends to watch out during this period include innovative product developments, strategic partnerships, progress in virtual rehabilitation techniques, the emergence of novel technologies, and the improvement of internet connectivity.
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What Are the Key Growth Drivers Fueling the Smart Portable Rehabilitation Devices Market Expansion?
The expansion of the smart portable rehabilitation devices market is anticipated to be fueled by the growing elderly population. This signifies a demographic of the population consisting of aging individuals or retirees. Elderly individuals are assisted in maintaining their self-sufficiency and autonomy through these smart portable rehabilitation devices, which equip them with the ability to observe their health and partake in rehabilitative exercises at their preferred speed. As an example, the World Health Organization, an intergovernmental organization based in Switzerland, stated in October 2022 that the proportion of the population aged 60 years and over climbed to 1.4 billion in 2022. By 2050, the global population of individuals aged 60 and over is projected to surge to 2.1 billion. Thus, the burgeoning elderly population is contributing to the development of the smart portable rehabilitation devices market.
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What Are the Key Trends Driving Smart Portable Rehabilitation Devices Market Growth?
Major corporations in the smart portable rehabilitation devices market are establishing strategic collaborations to achieve a competitive advantage. A strategic collaboration refers to a joint agreement between two or more entities with the purpose of attaining mutually advantageous objectives. For example, in March 2022, Manipal Hospitals, a healthcare corporation based in India, entered into a partnership with ConnectedLife, a Singaporean firm specializing in the provision and integration of advanced digital solutions and services. The intent of the partnership is to incorporate Fitbit wearable technology for continuous patient care after high-risk operations like total knee replacement, angioplasty, and cardiac bypass surgery. This partnership provides the benefit of remote patient monitoring and direction, aiding them in their path to healthy post-surgery recovery. The Fitbit apparatus, coupled with the patient monitoring platform, will capture and document patient metrics such as heart rate, oxygen saturation level, sleep quality, steps taken, and pain scales before and after surgery. This gathered data will be consolidated on the ConnectedLife platform for physicians to review.
How Is the Smart Portable Rehabilitation Devices Market Segmented?
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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Which Companies Are Leading the Charge in Smart Portable Rehabilitation Devices Market Innovation?
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
Which Regions Are Leading the Global Smart Portable Rehabilitation Devices Market in Revenue?
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.
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