Rehabilitation Equipment Market Analysis

Rehabilitation Equipment Market Analysis

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Based on product the market is segmented into musculoskeletal rehabilitation equipment, cardiopulmonary rehabilitation equipment, and neurological rehabilitation equipment. ?Musculoskeletal rehabilitation equipment held 67.2% of the market share in 2023.
 

• The rising incidence of accidents, sports injuries, and musculoskeletal disorders, such as sarcopenia and osteoarthritis, has escalated the global demand for musculoskeletal rehabilitation equipment. According to the Insurance Institute for Highway Safety, there were 39,508 fatal motor vehicle accidents in the U.S. in 2021. This alarming increase in traffic fatalities, coupled with innovations in rehabilitation equipment, will drive segment growth.
   
• Common conditions like arthritis, back pain, and osteoporosis are particularly prevalent among the aging population. Additionally, sports-related injuries, workplace accidents, and other incidents frequently result in musculoskeletal damage requiring rehabilitation. Improved awareness and diagnostic methods facilitate early detection and treatment of these conditions, further fueling market demand.
   
• The global increase in the elderly population, who are more susceptible to musculoskeletal disorders, is a significant market driver. According to a 2022 UN report, the proportion of the global population aged 65 and older is expected to rise from 10% in 2022 to 16% by 2050. This demographic trend will boost the demand for personal mobility aids and cardiopulmonary rehabilitation equipment.
   

Based on application, the rehabilitation equipment market is classified into physiotherapy, occupational therapy, and other applications. The physiotherapy segment is anticipated to grow at a CAGR of 7.6% from 2024 to 2032.
 

• The market includes workout equipment designed to rehabilitate individuals after trauma or the onset of degenerative diseases. Physiotherapy employs a variety of treatments to enhance, maintain, and restore physical strength and mobility following injury, surgery, or illness.
   
• Technological advancements, such as virtual reality, exoskeletons, robotics, and implantable pain treatment technologies, are significant drivers of rehabilitation equipment in physiotherapy. Additionally, increased demand in emerging nations further propels market growth. For instance, in November 2022, Penumbra, Inc. launched the REAL y-Series, the first full-body virtual reality-based rehabilitation product. This immersive platform is projected to aid in the rehabilitation of around 50 million people.
   
• In April 2021, Panasonic introduced a mass production variant of their walk training robot, aimed at providing safe and efficient walking training for seniors who are hesitant to move due to physical limitations and previous falls. The growing elderly population and the rise in innovative product launches are expected to drive growth in the physiotherapy segment throughout the forecast period.
   

?Based on end-use, rehabilitation equipment market is segmented into hospitals and clinics, rehabilitation centers, homecare settings, and physiotherapy centres. The hospitals and clinics segment will reach nearly USD 13.4 billion by 2032.
 

• The growing need for comprehensive healthcare services for patients requiring rehabilitation or long-term care has increased the demand for hospitals and clinics. These facilities are equipped with cutting-edge rehabilitation equipment, making them preferred healthcare providers. They also have a multidisciplinary team of healthcare professionals specializing in various aspects of rehabilitation, which enhances patient care and increases patient footfall.
   
• The increasing number of elderly patients requiring rehabilitation for age-related conditions, such as arthritis, osteoporosis, and post-surgical recovery, contributes to the demand. Additionally, the higher prevalence of chronic diseases, including cardiovascular diseases, diabetes, and musculoskeletal disorders, necessitates extensive rehabilitation.
   
• Hospitals and clinics are expanding their rehabilitation units to meet the growing demand for these services. Increased funding and investment in healthcare infrastructure and rehabilitation services are also driving growth. The availability of skilled rehabilitation professionals, including physical therapists, occupational therapists, and speech therapists, further boosts the demand for this segment.
   
• Moreover, a multidisciplinary approach to rehabilitation, which involves collaboration among various healthcare professionals to provide comprehensive care, is fueling the segments growth.
   

North America rehabilitation equipment market accounted for USD 7.5 billion in revenue in 2023 and is predicted to witness substantial market growth over the analysis timeline.
 

• North America is likely to lead the market throughout the projection period. The increased prevalence of chronic diseases such as Parkinson's, Alzheimer's, and arthritis, as well as the growing demand for rehabilitation therapies, and the existence of multiple significant companies, are propelling North American rehabilitation equipment sales forward.
   
• Increasing research initiatives to produce enhanced products is also driving market expansion. For example, in November 2022, Penumbra Inc. introduced a hands-free, full-body virtual reality-based rehabilitation service, expanding the REAL system platform. The REAL y - series is one of the hands-free, non-tethered virtual reality rehabilitation platforms that can perform both upper and lower extremities with a whole-body avatar.
   
• Increasing government initiatives for safe patient handling, as well as reimbursement programs like Medicare, are projected to drive the market in this region.