The growth of this Rehabilitation Equipment Market is mainly driven by factors such as growing incidence of disabilities resulting from non-communicable diseases, favorable healthcare reforms, and rapid growth in the geriatric population coupled with the rising prevalence of chronic diseases. However, a high cost & maintenance expense of rehabilitation equipment is the key factor that is expected to restrain the growth of this market to a certain extent.
According to Latest Market research report Published by MarketsandMarkets the “Rehabilitation Equipment Market Size, Share, Demand and Growth Analysis, forecast” the global market to reach 14.91 Billion, at a CAGR of 8.6%
Increasing incidence of disabilities, and rapid growth in geriatric population are the major drivers for the market.
The key causes of disabilities are non-communicable diseases and injuries such as sports injuries, trauma cases and various other injuries. Non-communicable diseases (NCDs) or chronic diseases are generally of long duration and slow progression. There are four major types of NCDs—cardiovascular disease (such as heart attacks and stroke), cancers, chronic respiratory disease (such as chronic obstructive pulmonary disease and asthma), and diabetes. NCDs are considered the leading cause for preventable disabilities such as paralysis and mental disorders among the patients. The rising incidence of NCDs has correspondingly boosted cases of disability among patients; this is expected to drive the demand for rehabilitation equipment.
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key players operating in the Global Rehabilitation Equipment Market;
The rehabilitation equipment market is highly fragmented with the presence of several small and large players. Some of the prominent players in this market are Invacare Corporation (US), Medline Industries, Inc. (US), Dynatronics Corporation (US), Drive DeVilbiss Healthcare (US), Changzhou Qian Jing Rehabilitation Co., Ltd. (China), Carex Health Brands (US), Roma Medical (U.K.), Caremax Rehabilitation Equipment Co. Ltd. (China), GF Health Products, Inc. (US), and Hospital Equipment Manufacturing Company (India).
Major Drivers Impacting the Rehabilitation Equipment Market;
• Increasing Incidence of Disabilities
• Favorable Healthcare Reforms
• Rapid Growth in Geriatric Population
• Technological Advancements
Physiotherapy Centers:
Physiotherapy is a cost-effective method for preventing disabilities from becoming chronic condition and speeding up the recovery time for musculoskeletal, neurological, and surgical injuries, among others. The increasing incidence of various non-communicable diseases that can lead to various disabilities has driven the demand for assistive care in physiotherapy centers.
Rehabilitation centers:
Rehabilitation centers usually provide long-term care as per the patient’s needs. Patient preference for rehabilitation centers has risen in recent years due to the presence of a skilled and specialized workforce at these centers. They also specialize in post-operative care and physical therapy.
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Major Rehabilitation Equipment Market Developments:
• In Febuiary 2017, Invacare upgraded the K series of its pioneering brand Küschall. The new active chair Küschall Champion SK is a sleek, smart, and lightweight folding wheelchair.
• In December 2016, Medline partnered with ViaQuest, Inc. (U.S.) to deliver ViaQuest Home Health and Hospice patient supplies across Indiana, Ohio, and Pennsylvania.
• In January 2017, Drive DeVilbiss Healthcare acquired Sidhil Group Limited (U.K.), a leading provider to homecare, acute care, and long-term care settings. This acquisition will expand Drive’s existing manufacturing capabilities in the U.K. while adding significant manufacturing expertise to the European platform.