Rehabilitation Products Market - Forecast, 2022-2027

The Rehabilitation Products Market Size is estimated to reach $20.1 billion by 2027 and is poised to grow at a CAGR of 6.3% during the forecast period of 2022-2027. Rehabilitation is the treatment designed to facilitate the process of recovery from the state of injury or illness. The most important feature of any Rehabilitation Aid is its ability to provide maximum support without causing any further discomfort to the patient who is already in pain and needs medical beds, patient lifts, daily living aids and mobility equipment. The increasing number of disabilities owing to acute illness, disease, injuries, accidents and the increasing geriatric population drive the market growth. According to Global RA Network, there are more than 350 million people suffering from arthritis in 2021 and more than 22% of adults around the world, who are older than 40, have knee osteoarthritis. According to World Health Organization, by 2060, one in six people in the world would be aged 60 or above, and by 2050 two-thirds of the world population would be over the age of 60 years. Such a rising elderly population and increasing disabilities fuel the growth of rehabilitation products market size. Such increasing prevalence of disabilities and the growing demand for various rehabilitation products in the market create lucrative growth opportunities for key market players as well as the rehabilitation products industry. To fulfill market demand, key market players focused on the joint venture and expansion of business. For instance, in January 2022, MicroPort RehabTech, a subsidiary of MicroPort Scientific Corporation, unveiled a series of new products under its integrated solution for musculoskeletal rehabilitation at a launch event held in Beijing. Such rapid enhancement in technology and rising global need for Rehabilitation Products would drive the growth of the Rehabilitation Products Industry during the forecast period 2022-2027.

Rehabilitation Products Market Report Coverage

The report: “Rehabilitation Products Market Forecast (2022-2027)" by Industry ARC, covers an in-depth analysis of the following segments in the Rehabilitation Products Market.

By Product Type: Medical Bed, Mobility Scooter, Walker, Crutcher, Cane, Patient Lift, Sling and Others.
By Application: Physical, OT, Lower-body Exercise Equipment (Lower Body Exercise Equipment, Upper Body Exercise Equipment and Total Body Exercise Equipment), Daily Living aids (Medical Beds, Bathroom & Toilet Assist Devices and Reading/Writing & Computing Aids), Mobility Equipment (Wheelchair & Scooters and Walking Assist Devices), Body Support Device (Patient Lifts and Medical Lifting Slings) and Others.
By End-Users: Physiotherapy Center, Occupational Therapy.
By Geography: North America (the U.S., Canada, Mexico), Europe (Germany, the United Kingdom, France, Italy, Spain, Russia and the Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand and the Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of the World (the Middle East and Africa).

Key Takeaways

• Geographically, North America held a dominant market share in 2021. The advanced medical facilities and high spending capacity in this region aid the growth of the Rehabilitation Products Market Size in this region.
• The Rehabilitation Products Market Share is predicted to grow due to the increasing disabilities owing to various reasons such as accidents, injuries, disease and others. However, the increasing healthcare burden with the premium price of rehabilitation products may limit the market growth over the forecast period 2022-2027.
• A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Rehabilitation Products Market Report.

Rehabilitation Products Market Segment Analysis - by Applications

Rehabilitation Products Market based on applications can be further segmented into Physical, OT, Lower-body Exercise Equipment (Lower Body Exercise Equipment, Upper Body Exercise Equipment and Total Body Exercise Equipment), Daily Living aids (Medical Beds, Bathroom & Toilet Assist Devices and Reading/Writing & Computing Aids), Mobility Equipment (Wheelchair & Scooters and Walking Assist Devices), Body Support Device (Patient Lifts and Medical Lifting Slings) and Others. The Mobility Equipment segment held a dominant market share in the year 2021, owing to the increasing disabilities across the globe. According to the World Health Organization (WHO) report (on Road Traffic Injuries) published in June 2022, approximately 1.3 million peoples die in road accidents and more than 90% of road traffic deaths occur in low- and middle-income countries. Also, 50 million more people suffer non-fatal injuries, with many incurring a disability as a result of their injury. Owing to such a high number of disabilities demand for mobility equipment such as medical beds, patient lifts, daily living aids, and mobility equipment is on a rise. Such factors drive the growth of the Rehabilitation Products Market Size.

However, Daily Living aids are estimated to grow with the fastest CAGR rate of 6.5% over the forecast period 2022-2027. These daily living aids are important for everyday use for people with disabilities and helpful in daily activities. Equipment such as bathing aids, walking frames, bed levers, toilet frames, stair lifts, hospital beds, hoists, and others are necessary for everyday life. The surging dependence on daily living aids among disabled people is expected to grow the Rehabilitation Products Market Size during the forecast period 2022-2027.

Rehabilitation Products Market Segment Analysis - by End-users

Rehabilitation Products Market based on the end-users can be further segmented into Physiotherapy Center and Occupational Therapy. The Physiotherapy segment held a dominant market share in the year 2021. This is owing to the increasing need for physiotherapy by the elderly population and the people recovering from major injuries or surgery. According to the research paper published in July 2020 by National Center for Biotechnology Information, 310 million major surgeries are performed each year. Around 40 to 50 million are done in the U.S.A. and 20 million are done in Europe. Such increasing cases of surgeries and the increasing number of the elderly population drive the growth of the Rehabilitation Products Market Share.

However, Occupational Therapy is estimated to grow with the fastest CAGR rate of 6.2% during the forecast period 2022-2027. The reasons are its attributes that focus on improving the patients' abilities to move their body with occupational-based activity, purposeful activity and preparatory methods. Occupational therapy is mostly used in major diseases for post-stroke management, for patients with Parkinson’s disease and others. Such attributes of occupational therapy and its increasing use would fuel the growth of the Rehabilitation Products Market Share during the forecast period 2022-2027.

Rehabilitation Products Market Segment Analysis - by Geography

The Rehabilitation Products Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. North America held a dominant market share of 40% in the year 2021. This is the result of the developed healthcare infrastructure in the region. Also, the increasing prevalence of non-communicable diseases like cancer, cardiovascular disease, diabetes, arthritis and Parkinson’s are rapidly growing in this region. According to American Cancer Organization, about 1.9 million new cancer cases are diagnosed in the United States in 2021. As per Parkinson's Foundation, about 1 million people in the U.S. are living with Parkinson’s disease and the number is estimated to reach up to 1.2 million by 2030. Such an increasing number of chronic diseases and disabilities in this region fuels the growth of the Rehabilitation Products Market Share.

Furthermore, Asia-Pacific is estimated to grow with the fastest CAGR rate of 7.1% over the forecast period 2022-2027, owing to the rising healthcare developments in this region. Also, various government policies and growing research & developments by key market players help the market grow. Also, the increasing number of patients with disabilities, improved public and private reimbursement infrastructure, the growing number of physicians and the rapid adoption of new products are expected to drive the growth of the Rehabilitation Products Market Share in this region during the forecast period 2022-2027.

Rehabilitation Products Market Drivers

Increasing Number of Old People around the World Drives Market Growth:

The rising population going towards old age and the increasing disabilities associated with old age are boosting the Rehabilitation Products Market growth. The main cause of disabilities in old age is the lack of lubricative material in the bone joint such as hyaluronic acid or hyaluronan (HA), lubricin and surface-active phospholipids which are mostly found low in quantity among people aged above 60. According to World Health Organization, by 2030, one in six people will be aged 60 or above. The world’s oldest population lives in Japan. According to the Statistics Bureau of Japan, in May 2022, the percentage of the population over age 65 would go up to 29% of the total population. Such an increasing elderly population creates a growth opportunity for Rehabilitation Products Industry over the forecast period 2022-2027.

New Technology Aids Market Growth:

Rising cases of critical diseases like CVD, cancer and neurological diseases around the world, along with increasing cases of patients with disabilities, create a growth opportunity for the global Rehabilitation Products Industry. Also, major countries and healthcare companies around the world are focusing on better healthcare infrastructure and research & developments for better diagnosis and treatment. As per the Niti Ayog report, the Foreign Direct Investment (FDI) in India raised up to US$50 billion in 2019-2020. India also allowed 100% FDI in the healthcare sector which helped to strengthen the healthcare industry in India. Innovation in the healthcare industry raised $44 billion globally in 2021, as per start-up health research insight. In December 2021, Royal Rehab’s launched a new range of devices to accelerate patient recovery and increase their strengths and mobility. Such innovations and investments in the healthcare sector would drive the growth of the Rehabilitation Products Industry over the forecast period 2022-2027.

Rehabilitation Products Market Challenge

High Cost of Treatment and Lack of Healthcare Infrastructure may Hinder Market Growth

Most of the world population is living in the middle-income group, as per data released by Oxfam, a global network of charitable organizations, over a quarter of a billion people will be pushed into poverty in 2022. Also, according to a new World Bank (WB) and World Health Organization (WHO) research, at least half of the world population lacks access to basic health services. At present, about 800 million people spend at least 10% of their household budgets on health expenses, and these expenses are high enough for about 100 million people to push them into extreme poverty, forcing them to live on USD 1.90 or less a day. Such factors kept most of the population away from healthcare services which may hinder the Rehabilitation Products Industry growth over the forecast period.

Rehabilitation Products Market Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Rehabilitation Products Market. The top 10 companies in the Rehabilitation Products Market are:

1. Invacare Corporation IVC
2. Medline Industries Inc.
3. Dynatronics Corporation
4. Drive DeVilbiss Healthcare (Medical Depot Inc.)
5. Carex Health Brands Inc.
6. Caremax Rehabilitation Equipment Co. Ltd.
7. Ekso Bionics
8. GF Health Products Inc.
9. Hill-Rom Services Inc.
10. Hospital Equipment Mfg. Co.

Recent Developments

• In July 2022, Medline announced the acquisition of Dufort et Lavigne Ltée, a Montreal-based medical supplies distributor. The addition of Dufort et Lavigne extends Medline’s presence in Canada into Quebec and continues Medline’s investment in the Canadian market while extending its distribution infrastructure from coast to coast.
• In December 2021, Invacare Corporation, a leading manufacturer and distributor in its markets for medical equipment used in non-acute care settings, announced a strategic realignment of Europe and Asia-Pacific businesses under a single leader to streamline operations and enhance the customer experience.
• In June 2021, CareMax, Inc., a leading technology-enabled provider of value-based care to seniors, announced the closing of the acquisition of Senior Medical Associates, LLC. SMA operated 10 conveniently located medical centers across Broward County with approximately 5,000 Medicare Advantage members in the SMA network. CareMax intended to use SMA’s footprint as the foundation of CareMax’s expansion initiative in Broward County, a market with more than 335,000 Medicare-eligible beneficiaries.

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