Rehabilitation Equipment Market worth $16.6 billion by 2025 – Hill-Rom Holdings Services Inc. (US) ,Medline Industries, Inc. (US) are Leading Key Players

PUNE, India, 2021-May-24 — /EPR Network/ — The report “Rehabilitation Equipment Market by Product (Mobility, Cane, Crutches, Walker, Body Support, Lift, Beds, Sling, Exercise, Therapy, Reading, Writing), Application (Physical, OT, Strength) End User (Physiotherapy, Hospital, Clinic) – Global Forecast to 2025″, the rehab equipment market is projected to reach USD 16.6 billion by 2025 from USD 12.9 billion in 2020, at a CAGR of 5.2%.

Market Size Estimation;

Both top-down and bottom-up approaches were used to estimate and validate the total size of the global rehabilitation equipment market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

– The key players in the industry and markets have been identified through extensive secondary research.

– The revenue generated from the sale of rehabilitation equipment by leading players has been determined through primary and secondary research.

– All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

The growth in Rehab Equipment Market is primarily driven by the increasing incidence of chronic diseases and the rising geriatric population. In addition, emerging markets such as China and India are expected to offer significant growth opportunities for players in the rehabilitation equipment market during the forecast period. However, a lack of awareness and access to rehabilitation services in emerging markets is expected to restrain market growth.

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Therapy equipment segment is projected to grow at the highest CAGR during the forecast period.

Based on product, the rehabilitation equipment market is segmented into therapy equipment, daily living aids, mobility equipment, exercise equipment, and body support devices. The therapy equipment segment is projected to register the highest growth rate during the forecast period. The growth of this segment is primarily attributed to the increasing incidence of various injuries and chronic conditions.

Geographical View in-detailed:

The Europe accounted for the largest share of the Rehabilitation Equipment Market. Factors such as supportive government initiatives for safe patient handling, rising geriatric population, and the high burden of chronic conditions are driving the growth of the European market. On the other hand, the market in the Asia Pacific is projected to register the highest CAGR during the forecast period. This can be attributed to the growing prevalence of chronic conditions, increasing venture capital investments, availability of technologically advanced products, and strategic expansion of market players in this region.

Global Key Leaders:

Prominent players in the market include Invacare Corporation (US), Medline Industries, Inc. (US), Hill-Rom Services Inc. (US), Dynatronics Corporation (US), Drive DeVilbiss Healthcare (US), DJO Global, Inc. (US), Carex Health Brands, Inc. (US), Roma Medical (UK), Caremax Rehabilitation Equipment Co., Ltd. (China), GF Health Products, Inc. (US), Etac AB (Sweden), Joerns Healthcare (US), Prism Medical UK (UK), EZ Way, Inc. (US), TecnoBody (Italy), Proxomed (Germany), Handicare (Sweden), Sunrise Medical (Germany), Enraf-Nonius (Netherlands), and Antano Group (Italy).

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Hill-Rom Holdings Services Inc. (US) provides a wide range of rehabilitation equipment such as patient lifts, medical beds, and accessories. The company majorly focuses on R&D investments for the continuous development and upgradation of its products. In 2018, the company invested USD 0.14 billion in R&D activities. The company’s constant focus on innovation helps it in enhancing its product offerings and marking its presence in the rehab equipment market.

Medline Industries, Inc. (US) was the second-largest player in the rehabilitation equipment market in 2019. The company has a strong portfolio of rehabilitation equipment, including bathing equipment, cognitive therapy products, exercise and mobility products, foot stools, heel and elbow protection products, mobility aids, and orthopedic soft goods. In order to maintain its strong position in the market, the company focuses on adopting organic as well as inorganic growth strategies such as expansions and acquisitions.