Rehabilitation Equipment Market - Growth, Trends, Covid-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The Rehabilitation Equipment market was valued at USD 11,975 million in 2020, and it is expected to reach USD 16,854 million in 2026, registering a CAGR of nearly 6.09% during the forecast period.

The COVID-19 pandemic has caused major destruction in the delivery of the healthcare routine across the world. Furthermore, COVID-19 has posed limitations for many patients to access standard health services such as visits to health care professionals, medications, diagnosis, and attendance at cardiac rehabilitation. It has adversely impacted the ability of patients and practitioners to adhere to treatment guidelines.

Furthermore, the COVID-19 situation is projected to boost the virtual rehabilitation programs and most virtual rehab platforms, such as Moving Analytics and Chanl Healthare app-based. Patients can record their own diagnostics to share with rehab professionals, receive personalized coaching, and access a direct connection to their rehab provider.

Some of the factors driving the market growth include increasing incidence of chronic diseases, rising demand for rehabilitation therapies due to the increasing prevalence of non- communicable diseases, and favorable reimbursement initiatives. In addition, rising incidences of arthritis and Parkinson’s in the aging population and the growing number of trauma patients are also fueling the growth of the market.

As per World Health Organization 2018, each year non-communicable diseases kill around 41 million people representing 71% of deaths globally. This will create the demand for the rest of the population who have non-communicable diseases to opt for rehabilitation centers to get it diagnosed and further promotes the growth of the overall market. Moreover, the high demand for assisted devices in handicapped populations and growing awareness about new product availability is also fueling the rehabilitation equipment market.

Furthermore, favorable reimbursement policies will also create a huge demand for this equipment as the population is going to be more reliable on these equipment’s and also technological advancement associated with these products will also create a lucrative opportunity for the market to grow in forecasted period.

Scope of the Report

As per the scope, rehabilitation equipment is used to assist the process of rehabilitating patients. This equipment is reusable aid that assists the patient with their daily activities. This equipment is reusable aid that assists the patient with their daily activities. The Global Rehabilitation Equipment Market is segmented by Product Type (Daily Living Aids (Medical Beds, Bathroom and Toilet Assist Devices, Reading Writing and Computer Aids, Other Daily Living Aids), Exercise Equipment (Upper Body Exercise Equipment, Lower Body Exercise Equipment), Body Support Devices (Patient Lifts, Medical Lifting Slings), Mobility Equipment (Walking Assist Devices, Wheelchairs and Scooters), Application (Physiotherapy, Occupational Therapy, Other Applications), End User (Hospitals, Rehab Centers, Others End Users), Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.

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Key Market Trends

Under Mobility Equipment Segment Walking Assist Devices is Estimated to Witness a Healthy Growth Over the Forecast Period.

Walking assistive devices generally involves devices, such as canes, crutches, and walkers, that allow easy mobility in patients with certain physical disabilities and the elderly population. These devices increase the patients’ base of support at the same time, improves and maintains balance, increases activity, and reduces the dependency of patients on others.

According to the August 2020 research study published in the Journal of Physical Therapy Science, physical therapy for COVID-19 patients not only reduces the mortality rate, hospital admission time, and medical expenses but also saves medical resources, reduce personal and national economic losses, and the probability of adverse social stability events such as medical collapse.

According to the World Ageing 2019 report, globally, in 2019 there were about 703 million population aged 65 years or over. This number is projected to reach 1.5 billion in 2050. Globally, the share of the population aged 65 years or over increased from 6% in 1990 to 9% in 2019. That proportion is projected to rise further to 16% in 2050, when it is expected that one in six people worldwide will be aged 65 years or over. This population is highly prone to have several diseases that require personal mobility aid and that will further result in the adoption of walking assist devices.

Now smart walking assistive devices are gaining popularity which is driving the demand of this segment and thereby fuelling the market studied.

The Industrial Technology Research Institute offers Wearable Walking Assistive Exoskeleton Robot, which has been specifically designed for spinal cord injury patients. It enables patients to regain their functional abilities, such as standing, sitting, walking on flat surfaces, walking up and downstairs, and walking on slopes through power assistance.

Further, in November 2020, a researcher from the University of Twente is working on the development of wearable robots with digital neuromusculoskeletal model-based controllers for paretic patients to enable human intuitive control on this device.

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