Rehabilitation Equipment Market to Grow Significantly by 2029

LONDON, May 22, 2023 /PRNewswire/ -- Injuries, ailments, and surgeries leave a long-term impact on our physical and mental state. Even after a series of treatments, some individuals need additional care to restore their physical movements. This is when they require the help of rehabilitation equipment. This equipment provides support, assistance, and targeted exercises with an aim to help the patients regain their mobility, strength, and independence. Some of the commonly used rehabilitation equipment are exercise machines, resistance weights and bands, assistive devices, motion devices, and coordination equipment, just to name a few. Driven by the power of technology and innovation, rehabilitation equipment has become a catalyst for transformation, empowering individuals to reclaim their physical abilities and embrace renewed vitality and well-being.

The market research report on Global Rehabilitation Equipment Market by Brandessence Market Research sheds light on different parameters that are impacting the ongoing trends of this industry. It offers valuable insights into the current market trends, growth drivers, challenges, and opportunities. It furthers entails a scrutiny of the major segments, geographies, and players defining the industry. Through in-depth research and analysis, the report assists stakeholders, including manufacturers, distributors, investors, and policymakers, in making informed decisions and formulating effective strategies to capitalize on the evolving market trends and opportunities in the rehabilitation equipment sector.

Key Takeaways

Growing occurrence of injuries caused by road accidents, sports, and other incidents is one of the primary factors spurring the growth of this market.

By product, the exercise equipment segment is experiencing the fastest growth due to the growing fitness enthusiasm among the masses and rising focus on active rehabilitation.

The MEA region is anticipated to account for a substantial volume share ascribing to the growing health cognizance, increased disposable income levels, and rapidly evolving healthcare infrastructure.

The Rehabilitation Equipment Market is anticipated to garner significant returns over the estimated timeline of 2022-2029.

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Elaborating the key trends and dynamics of Rehabilitation Equipment Market

Growing occurrence of injuries caused by road accidents, sports, and other incidents is one of the primary factors spurring the growth of this market. Furthermore, increased number of surgeries, rising prevalence of chronic and long-term ailments, and surge in the geriatric population base are creating lucrative opportunities for this industry vertical to prosper. Also, increased health cognizance of the masses, rapidly improved healthcare infrastructure, and growing disposable income levels are adding momentum to the progression of this business sphere.

Major Growth Drivers

Growing instances of injuries- Human life is quite fragile. Instances of road accidents, falls, man-made and natural disasters, among others often lead to severe injuries. Although certain injuries can be immediately treatment, but some require long term care. Severe injuries, even after prolonged treatment may affect the physical mobility of the patients. In such cases, they require additional treatments and equipment to assist them and help them in regaining their mobility. This is stimulating the overall dynamics of this market.

Increased cognizance about the importance of rehabilitation- There has been a growing awareness on the importance of rehabilitation among the masses. It is worth noting that individuals with long terms illnesses, disabilities, or injuries often face mobility issues. This has created the need for therapies and equipment which can help them to improve their functional outcomes and enhance their quality of life. Further, governments, healthcare organizations, and advocacy groups are actively promoting rehabilitation services and investing in infrastructure development. These factors together are creating an upward trend in this industry.

Challenges

High Cost- Rehabilitation equipment is quite expensive in nature since they are made using high end technologies and components. People with insufficient income may not be able to afford these entities, creating an economic disparity. Also, healthcare facilities often face budgetary issues in acquiring advanced rehabilitation equipment, impacting their ability to offer comprehensive rehabilitation programs. This is hindering the remuneration scope of this market.

Competitive Landscape of Rehabilitation Equipment Market

The prime players defining the competitive terrain of Rehabilitation Equipment Market are Baxter International (US), Invacare Corporation (US), Medline Industries, LP (US), Arjo (Sweden), Colfax Corp. (US), Dynatronics Corp. (US), Handicare Group AB (Sweden), Drive DeVilbiss International (Germany), Etac AB (Sweden), GF Health Products Inc. (US), Joerns Healthcare LLC (US), Prism Medical UK Ltd. (UK), Guldmann (Denmark), EZ Way Inc. (US), LINET (Czech Republic), Carex Health Brands (US), Roma Medical (UK), Caremax Rehabilitation Equipment Co. Ltd. (China), Antano Group (Italy), Ossenberg GmbH (Germany), WINNCARE (UK), Sunrise Medical LLC (Germany), TecnoBody (Italy), Enraf-Nonius (Netherlands), and Proxomed (Germany).

Segmental Assessment

By product, the exercise equipment segment is experiencing the fastest growth over 2022-2029. This is credited to the growing fitness enthusiasm among the masses and rising focus on active rehabilitation.

Based on application, the physical rehabilitation and training segment is projected to garner significant returns over the stipulated timeline. This is due to the increasing occurrence of sports-based injuries, surge in the geriatric population base, and growing prevalence of chronic ailments.

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Geographical Analysis and Landscape

Middle East & Africa Rehabilitation Equipment Market

The MEA region is anticipated to account for a substantial volume share ascribing to the growing health cognizance, increased disposable income levels, and rapidly evolving healthcare infrastructure. Alongside, rising awareness of rehabilitation benefits along with the rising prevalence of chronic diseases and sports-related injuries are adding traction to the progression of this marketplace.

Europe

Europe is reckoned to emerge as one of the fastest growing regions in this marketplace. Surging elderly populace, increased R&D investments, and the presence of a proper medical imbursement scenario are the primary factors driving the growth of this regional market. Also, technological advancements, such as robotics, virtual reality, wearable devices, and tele-rehabilitation solutions along with the escalating demand for personalized rehabilitation programs are bolstering industry expansion in this region.

Opportunities in this industry

Surge in the geriatric populace- aged individuals are highly susceptible to mobility issues. Many elderly individuals suffer from long term chronic ailments and are highly prone to injuries. Physical rehabilitation and training play a crucial role in managing these conditions, improving mobility, and maintaining independence in daily activities. With increase in the geriatric populace worldwide, the demand for rehabilitation equipment has also surged.

Major developments in Rehabilitation Equipment Market

Launches

In February 2022, a next generation e-fix eco Power Assist Device was launched by Invacare. This device is equipped with the ability to enhance the functioning of these manual wheelchairs.

Porter's Five Forces Analysis

Threat of new entrants: The threat of new entrants to the rehabilitation equipment market is relatively low. This is primarily due to the high barriers to entry, including the need for significant investments in research and development, regulatory compliance, manufacturing capabilities, and distribution networks. Established companies often have strong brand recognition and customer loyalty, making it difficult for new players to gain market share.

Bargaining power of suppliers: The bargaining power of suppliers in the rehabilitation equipment market can vary depending on the specific components and materials involved. If there are limited suppliers with unique offerings or if the market is dominated by a few key suppliers, they may have more power to negotiate pricing and terms. However, if there are multiple suppliers and the products are relatively standardized, the bargaining power of suppliers may be lower.

Bargaining power of buyers: The bargaining power of buyers in the rehabilitation equipment market can be significant. Buyers, such as healthcare providers and hospitals, have the ability to negotiate prices, demand customization, and compare products from different manufacturers. Additionally, buyers' purchasing decisions may be influenced by factors such as quality, cost-effectiveness, and after-sales support.

Threat of substitute products: The threat of substitute products in the rehabilitation equipment market is relatively moderate. While there may not be direct substitutes for certain specialized rehabilitation equipment, alternative therapies or treatment methods could be considered substitutes. For example, physical therapy or alternative medical interventions could replace the need for certain equipment. The availability and effectiveness of substitute treatments can impact the demand for rehabilitation equipment.

Competitive rivalry: The competitive rivalry within the rehabilitation equipment market is typically high. There are several well-established companies competing for market share, and they may employ strategies such as product differentiation, pricing, marketing, and innovation to gain a competitive edge. The market's growth rate, industry consolidation, and the presence of strong brand names can influence the intensity of competition.

On Special Requirement Acute Repetitive Seizures Market Report is also available for below region:

North America

U.S, Canada

Europe

Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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