Rehabilitation Equipment Market Expected to Reach $41,293.28 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Rehabilitation Equipment Market," The Rehabilitation Equipment Market Size was valued at $19,506.10 million in 2021 and is estimated to reach $41,293.28 million by 2031, exhibiting a CAGR of 7.7% from 2022 to 2031. Rehabilitation is the process of helping individuals with physical, mental, or emotional disabilities to regain or improve their physical, cognitive, social, and vocational skills so they can lead independent and productive life.  

Rehabilitation equipment are specialized tools used to help individuals with physical, cognitive, and/or psychological difficulties improve their physical and mental capabilities. Examples of equipment include exercise machines, therapy balls, balance boards, foam rollers, and resistance bands. This equipment is often used in physical therapy to aid in muscle strengthening, coordination, and mobility. They are also used in occupational therapy to help improve fine and gross motor skills, as well as sensory integration.  

The Rehabilitation Equipment Market Trends are the rise in the geriatric population across the globe, which leads to an increase in demand for mobility assistance devices such as wheelchairs, rollers, and canes. Furthermore, the market growth is supplemented by a rise in incidences of chronic diseases such as rheumatoid arthritis and osteoporosis during the forecast period.

Moreover, the rise in technologically advanced rehabilitation equipment such as robotics, computer-aided design, artificial intelligence, and 3D printing has enabled the development of sophisticated rehabilitation equipment that helps to improve patient outcomes. Furthermore, the surge in investments in R&D activities by key players for the development of technologically advanced medical devices boosts the Rehabilitation Equipment Market Growth.  

However, the high cost associated with these medical devices is the major barrier to the growth of the market. Emerging economies such as India, China, Mexico, and Brazil are anticipated to create new opportunities during the forecast period owing to the rise in the geriatric population, rapid increase in the number of chronic diseases, and lack of healthcare facilities in underdeveloped and developing nations.  

The rehabilitation equipment market is segmented on the basis of product type, application, end-user, and region. By product type, the market is classified into daily living aids, exercise equipment, body support devices, and mobility equipment. By application, it is divided into physiotherapy, occupational therapy, and others. By end user, the market is categorized into hospitals, rehabilitation centers, and home care. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

On the basis of product type, the rehabilitation equipment market is segmented into daily living aids, exercise equipment, body support devices, and mobility aid. In 2021, the mobility equipment segment accounted for the largest share of the market. The dominance of this segment is attributed to increasing awareness about personal mobility devices; and a surge in the adoption rate of canes, crutches, and walkers in the geriatric population.  

On the basis of application, the rehabilitation equipment market is segmented into physiotherapy, occupational therapy and others. In 2021, the physiotherapy segment accounted for the largest share of the market. The dominance of this segment can be attributed to the rising demand for rehabilitation equipment in physiotherapy as it provides evidence-based treatments that can help optimize an individual's function and independence. In addition, the rise in the prevalence of neurological disorders among the population is the key factor driving the demand for rehabilitation equipment.  

On the basis of end user, the rehabilitation equipment market is segmented into hospitals, rehabilitation centers, and home care. The hospital's segment exhibited the highest growth in 2021 and is anticipated to lead during the forecast period, owing to an increase in admission of patients in the hospital due to a rise in cases of road accidents, spinal cord injuries, and meningitis.  

North America accounted for a majority of the rehabilitation equipment market share in 2021 and is anticipated to remain dominant during the forecast period owing to an increase in healthcare expenditure, coupled with rise in demand for innovative products and services. In addition, the availability of advanced rehabilitation equipment, such as robotic exoskeletons and powered wheelchairs, as well as the increase in the adoption of these products, are driving the growth of the rehabilitation equipment market in North America.  

Asia-Pacific is expected to register the fastest CAGR during the forecast period. The market growth in the Asia-Pacific region is supplemented by highly populated countries along with a high prevalence of osteoarthritis. In addition, the increase in the number of musculoskeletal disorders along with the rise in the number of sports injuries, that surge the demand for rehabilitation equipment provides lucrative opportunities for market growth.  

The key players that operate in the Rehabilitation Equipment Industry are Medline Industries Inc., Invacare Corporation, Ekso Bionics, GF Health Products, Inc., Caremax Rehabilitation Equipment Co. Ltd, Baxter International Inc., and Hospital Equipment Mfg. Co, Roma Medical, ReWalk Robotics, and Drive DeVilbiss Healthcare. 

Key findings of the study 

• The mobility aid segment generated the highest revenue in 2021 and is projected to grow at a CAGR of 8.1% during the forecast period. 

• The physiotherapy segment dominated the global rehabilitation equipment applications market accounting for nearly 48.0% of the market share in 2021. 

• Region-wise, Asia-Pacific is expected to experience a growth at the highest rate, registering a CAGR of 8.7% during the forecast period.    

• In 2021, the U.S. was the leading country, occupying the largest market share.