Market Size of Rehabilitation Equipment Industry
| Study Period | 2021 - 2029 |
| Market Size (2024) | USD 14.94 Billion |
| Market Size (2029) | USD 18.99 Billion |
| CAGR (2024 - 2029) | 4.92 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Rehabilitation Equipment Market Analysis
The Rehabilitation Equipment Market size is estimated at USD 14.94 billion in 2024, and is expected to reach USD 18.99 billion by 2029, growing at a CAGR of 4.92% during the forecast period (2024-2029).
COVID-19 had a significant impact on the growth of the market. The increased need for rehabilitation services after the COVID-19 recovery drove the demand for the market's growth. For instance, as per the NCBI article published in July 2020, after severe COVID-19 disease, many patients will experience various problems with normal functioning and require rehabilitation services to overcome these problems. However, the relaxation of the COVID-19 lockdown restrictions resulted in the reopening of rehabilitation centers and a rise in patient inflow, thereby driving the demand for the rehabilitation market. This is expected to contribute to the market's growth in the post-pandemic period.
Some of the factors driving the market growth include the increasing incidence of chronic diseases, rising demand for rehabilitation therapies due to the growing prevalence of non-communicable diseases, and favorable reimbursement initiatives. Increasing incidences of arthritis and Parkinson's in the aging population and the growing number of trauma patients fuel the market's growth.
As per World Health Organization 2021, each year, non-communicable diseases affect around 41 million people representing 71% of deaths globally. This will create the demand for the rest of the population with non-communicable conditions to opt for rehabilitation centers to get them diagnosed and further promote the overall market's growth. Moreover, the high demand for assisted devices in the handicapped population and growing awareness about newly available products also fuel the rehabilitation equipment market. For instance, in November 2021, Philips Foundation partnered with Singapore Heart Foundation to address the lack of patient participation in rehabilitation programs and medication adherence. In February 2021, Rehabs Near Me launched a 24*7 service to assist people in the United States looking for rehab centers. Thus, it is evident that the companies are continuously launching products associated with rehabilitation equipment and creating awareness further drives the overall market growth.
Thus, the increasing incidence of chronic diseases, rising demand for rehabilitation therapies, and increasing launches of rehabilitation equipment are expected to contribute to the market's growth over the forecast period.
