The global rehabilitation equipment market size is expected to grow at a CAGR of 6% and reach a valuation of USD 21,188 million by 2030. The incidence of chronic diseases, the rise of rehabilitation therapies, and the increased prevalence of non-communicable diseases are driving the need for more rehabilitation equipment across the globe. Additionally, the rise in arthritis and Parkinson's cases among the elderly population is pushing demand in the global rehabilitation equipment market.
According to the World Health Organization report in 2020, chronic diseases have severe consequences on an individual's quality and length of life-impacting society and governments globally. 2020 World report on disability showed that over 1 billion of the world's population is physically and mentally disabled; it constitutes around 15% of the world's population.
This creates a demand for rehabilitation equipment across the globe as the population who have non-communicable diseases opt for a rehab center to treat their problem.
The global market is segmented based on product, application, end-user, and region.
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The number of chronic disease cases is on the rise across the globe. Rehabilitation therapies help reduce the impact of the number of health conditions, ailments of chronic diseases, illnesses, or trauma. It also complements other health interventions like medical surgeries, etc., to help the patients recover fast and achieve the best results. Further, rehabilitation therapies can help reduce and manage complications associated with many health conditions, such as spinal cord injury, stroke, or fracture.
WHO in 2020 stated that ischemic heart disease is accountable for 16% of the world's total death. There is also an increased threat of osteoporosis, and International Osteoporosis Foundation suggested that by 2025 over 33.9 million population in Europe will witness osteoporosis. The excruciating prevalence of such serious health issues gives rise to the demand for rehabilitation equipment.
In addition, the world is also witnessing a rise in the number of geriatric patients, which is generating more demand for rehabilitation equipment.
The increased number of communicable and non-communicable diseases globally increases the essence of rehabilitation in healthcare to preserve the remnant activities of the people experiencing such diseases.
Rehabilitation or rehab centers provide services and facilities such as provisions for education and training opportunities, therapy for the disabled, and monitoring and evaluation of the patients. They also help the disabled generate micro and macro incomes and empower them. According to World Health Organization, around 2.4 billion population in the world is living with a health condition that benefits from rehabilitation. Rehabilitations are person-oriented, meaning the interventions and approaches selected for each patient depends upon their goals and preferences. Rehab centers provide therapies that could help patients recover from their chronic illnesses.
With the increased number of rehab centers and rise in rehab therapies, the number of awareness initiatives also increased significantly. Campaigns are spreading knowledge, and the importance of rehabilitation therapies is another factor that drives the market for rehabilitation equipment.
Celebration of National Rehabilitation Awareness Week is witnessed globally, where professionals and health educators take the platform to acknowledge and raise awareness about the rehab programs. These initiatives leave a positive impact on the lives of people in need.
In September 2020, PINC & STEEL Cancer Rehabilitation Foundation launched the first-ever global campaign called 'Cancer Rehab Awareness Week Campaign.’ The aim was to reach a maximum number of people and spread information about cancer rehabilitation.
Owing to such initiatives by international organizations across the globe, the growth of the global market is expected to surge.
Although major international organizations have taken initiatives to raise awareness and knowledge about rehab therapies, the rehabilitation programs yet remain unused.
Various factors lead to poor adoption of rehabilitation services like the lack of prioritization, funding, policies, and plans for rehabilitation, lack of available rehab series in rural areas, lack of trained rehabilitation professionals, and the scarcity of resources, including technology and equipment and consumables. These factors negatively impact the market and restrain rehabilitation equipment market growth.
There is still a lack of awareness in most developing and under-developed countries. This negative reflects in the growth of the global rehabilitation equipment market. Although the rise in the demand for the equipment is expected in the future, it cannot be ensured that there will be sufficient financial or human resources to meet the demand.
Furthermore, reimbursement issues associated with rehabilitation therapy also pull down the demand in the market.
For the past 10-15 years, advancement in the rehabilitation market has been witnessed. The world has also seen a huge growth in robotics and technology; therefore, rapid advancement in technology in the rehabilitation equipment market will change the future of the market.
Virtual reality is also emerging as a conventional means of therapy, plus methodologies to improve motor or physical rehabilitation are done by researchers to make more effective and engaging equipment.
Some injuries are severe and could be devastating. The patients had to revert to rehabilitation to recover from such injuries fully. The improved advancement of robotic technology has produced positive results in healthcare. This technology aims to provide maximum benefits to the patients during the process of rehabilitation. Owning to such advancements in the field of rehabilitation, the market is expected to rise significantly.
The global rehabilitation equipment market share is segmented based on product type, application, end-user, and region.
Based on product type, the segmentation is done as daily living aids, exercise equipment, body support devices, and mobility equipment.
Exercise equipment is expected to possess the largest market share with USD 10,442 million at a CAGR of 7% during the forecast period.
The exercise equipment includes a treadmill, rower, elliptical trainer, wearable devices, and brain-computer interface. Patients with varied chronic conditions generally use the equipment, especially for people suffering from cardiovascular diseases, stroke, and COPD.
A study titled ‘Reaching exercise for chronic paretic upper extremity after stroke using a novel rehabilitation robot with arm-weight support and concomitant electrical stimulation and vibration: before-and-after feasibility trial’ published in 2020 stated that robot-assisted rehabilitation was evaluated for upper chronic paretic upper extremity after stroke. The study observed that after making use of the robot-assistant system, the shoulder-elbow and wrist hand performance of the patients improved significantly. Such studies and research are further expected to expand the rehabilitation equipment market.
The next largest market share will be of the mobility equipment segment with USD 7040 million at a CAGR of 6%. These devices allow easy mobility in patients with certain physical disabilities, and the elderly population increases the patient base of support and improves and maintains balance. With the use of mobility equipment, the dependency of the patients reduces. The emergence of smart walking assistive devices is said to promote the mobility equipment market further.
On the basis of application, the market is segmented into physiotherapy, occupational therapy, and other applications. Physiotherapy is expected to have the largest share with USD 17,420 million at a CAGR of 6% by 2030. It encompasses different procedures like therapeutic exercises and physical modalities that aim to preserve, enhance, or restore physical function impaired by disease, injury, or disability. Equipment like medical devices, such as multi-exercise therapy units, heat therapy equipment, and laser therapy units, are widely in use in the market.
The market is expected to grow with the increase in the number of more skilled physiotherapists.
The second application-based segment is occupational therapy which is expected to have around USD 3067 million during the forecast period at a CAGR of 7%. These aim to enhance the patients' well-being and maximize their ability to choose, organize and satisfactorily perform the activities or occupations that patients need or want to do on a daily basis. There are several market players and non-profit organizations that continuously work towards creating awareness of occupational therapy by launching new campaigns and offering various services. This is expected to drive the market further.
Based on the end-user vertical, the market is bifurcated into hospitals, rehab centers, and others.
Rehab centers are a massive consumer of rehabilitation equipment and are expected to have a share of USD 9733 million at a CAGR of 7% during the forecast period. These individual institutes provide services to patients suffering from spinal injuries, stroke, other neuromuscular diseases, post-surgery care, and others. The rise in demand for rehab centers is attributed to the rise in the number of chronic disease patients worldwide, boosting the market growth.
Hospitals are expected to generate USD 7229 million at a CAGR of 6% by 2030. The increased duration of hospital stays is a major factor driving the growth of the market. As patients often require a longer stay period in the hospitals for full recovery, the need for rehabilitation services increases as per the requirements pushing the market further.
As per geography, the market is segmented as North America, Europe, Asia-Pacific, South America, and Middle East and Africa.
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Europe and North America dominate the regional market.
Countries like the United States, Canada, and Mexico are the largest players in the region of North America. With the increased prevalence of chronic diseases like Parkinson's, Alzheimer's, and arthritis, rising demand for rehabilitation therapies. The risk of people getting infected by a chronic disease is rapidly increasing, accounting for the growing geriatric population. As per the National Institute of Environmental Health Sciences, Americans will be majorly impacted by the growing chronic diseases in the coming decades. This situation gives rise to a critical need for rehabilitation equipment in the region. With an increase in the geriatric population, there will be an increased drive in the rehabilitation equipment market. During the forecast period, North America is expected to grow to USD 7231 million at a CAGR of 6% by 2030.
Europe has the largest share in the regional market with USD 8102 million at a CAGR of 6% by 2030. The region has countries like France, Italy, Germany, and Spain, which are rising in the rehabilitation equipment market.
In a 2020 report to the Germany Federal Statistical Office, the population aging over 67 years will reach 21.4 million by 2040. Therefore, with the rise in the geriatric population, the threat of people being affected by chronic diseases rises, fuelling the equipment market.
Moreover, illness, disorders, and other injuries are widely common in the country, which is leading to people suffering from chronic pain and limited physical ability providing scope for growth of rehabilitation equipment in the market.