Rehabilitation Equipment Market Will Grow at a CAGR 6.36% by 2026 | Valuates Reports
BANGALORE, India, Jan. 7, 2022 /PRNewswire/ -- Rehabilitation Equipment Market is Segmented by Application (Occupational Therapy and Physiotherapy), Product Type, (Daily Living Aids, Mobility Equipment, Exercise Equipment, Body Support Devices), End-User, and Geography – Global Forecast to 2026. It is published in Valuates Reports under the Medical Devices & Equipment Category.
The Global Rehabilitation Equipment Market is projected to grow at the rate of 6.36% CAGR by 2026.
Major factors driving the growth of the Rehabilitation equipment market are:
Rehabilitation is a cost-effective investment for both individuals and society. It can help you avoid expensive hospitalizations, shorten your time in the hospital, and avoid readmissions. Rehabilitation can help people with a wide range of health problems, including acute and chronic diseases, illnesses, and injuries. It can also be used in conjunction with other health interventions, such as medical and surgical treatments, to help get the best potential results. This factor is expected to drive the growth of the rehabilitation equipment market.
The number of patients requiring rehabilitation has increased as the number of injuries, lifestyle changes, degenerative diseases, and trauma cases have increased. The Rehabilitation equipment market is being driven by the expanding elderly population, which is suffering from chronic diseases.
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TRENDS INFLUENCING THE GROWTH OF REHABILITATION EQUIPMENT MARKET
The frequency of degenerative diseases and the number of trauma cases has increased globally, resulting in an increase in the number of patients in need of rehabilitation, which is in turn expected to drive the growth of the Rehabilitation equipment market during the forecast period.
The Rehabilitation Equipment market is expected to increase as the senior population grows, chronic illnesses become more prevalent, and accidents become more common. Patients with the majority of these diseases will require Mobility Equipment. Walking assistance devices, such as canes, crutches, and walkers, are examples of mobility equipment. They allow people with specific physical limitations and the elderly to move around easily. These devices simultaneously strengthen the patient's base of support, improve and maintain balance, boost exercise, and lessen the patient's reliance on others.
Increased participation in sports and a change toward an active lifestyle will raise the risk of sports injury if suitable counsel is not provided. This, in turn, is likely to fuel the rehabilitation market's expansion over the forecast period. Physiotherapy is the most common technique of rehabilitation for sports-related injuries. Patients with degenerative joint ailments and cerebrovascular illnesses, in particular, require physiotherapy.
In addition, the current COVID-19 epidemic is projected to boost the Rehabilitation Equipment market even further. The health results of people with severe COVID-19 are improved by rehabilitation. COVID-19 patients are at significant risk of long-term damage and disability and will require rehabilitation throughout the disease. Various market participants are working hard to meet the need for rehabilitation equipment.
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REHABILITATION EQUIPMENT MARKET SHARE ANALYSIS:
Based on product type, mobility equipment is expected to drive the growth of the rehabilitation equipment market. The mobility devices section is further segmented into two categories: walking help devices and wheelchairs and scooters. Because of their low cost and simplicity, walking assist devices are the most popular type of mobility equipment among the target group.
Based on application, the physiotherapy segment is expected to witness the highest growth at the highest CAGR during the forecast period.
Based on end-users, the hospitals and clinics are expected to be the most lucrative segment. This segment is expected to increase significantly throughout the forecast period due to the enormous patient pool of hospitals.
Based on region, North America is expected to be the most lucrative segment during the forecast period. This is attributed to North America's sizable base geriatric population. Furthermore, non-communicable diseases such as cancer, diabetes, arthritis, cardiovascular disease, and Parkinson's disease are becoming more common in this region.
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Key Vendors:
- Invacare Corporation
- Medline Industries, Inc
- Dynatronics Corporation
- Drive Devilbiss Healthcare
- Esko Bionics
- Caremax Rehabilitation Equipment Ltd
- GF Health Products, Inc
- Hospital Equipment Mfg. Co,
- Maddak, Inc
- India Medico Instruments.
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SIMILAR REPORTS:
- In 2020, the global Robotic Rehabilitation and Assistive Technologies market size was USD 921.3 Million and it is expected to reach USD 1568 Million by the end of 2027, with a CAGR of 7.4% during 2021-2027.
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