Rapid advancements in technology are expected to give rehabilitation equipment market share a considerable boost over the forthcoming years.
Rapid advancements in technology are expected to give rehabilitation equipment market share a considerable boost over the forthcoming years. Likewise, escalating number of elderly populations, along with the rising incidences of chronic conditions, will further push the demand for rehabilitation products in years ahead.
The global rehabilitation equipment market has been witnessing a high prevalence of musculoskeletal disorders, which is a major cause of disability across the globe. As per the WHO (World Health Organization), 40% of the people above 60 years worldwide suffer from lower back pain. Furthermore, mounting number of patients with arthritis, osteoporosis, back pain, tendon tears, amputation, and repetitive stress injuries will favorably stimulate overall rehabilitation equipment market expansion over the forecast spell.
As per Global Market Insights, Inc. estimates, the rehabilitation equipment market size is anticipated to surpass $31.2 billion by 2026.
Rapid rise in prevalence of cardiovascular diseases across the globe
According to the CDC (Centers for Disease Control and Prevention), nearly 85% of the geriatric population suffers from at least one chronic disease, thereby leading to an increased need to undergo rehabilitation therapy.
The WHO also has reported that cardiovascular diseases account for over 18 million deaths in the world, with the number expected to reach more than 23 million by 2030 end. These factors will become significant drivers expanding the rehabilitation equipment market outlook over the estimated timeline.
Cardiac rehabilitation programs are designed to help improve patient health and recovery from heart attack and other types of heart diseases. As per reliable research, this program can reduce the death rate from heart diseases as well as lower the risks of heart problems in the future. Therefore, the American Heart Association & American College of Cardiology have recommended the adoption of these effective programs.
To access sample pages of this report titled, “Rehabilitation Equipment Market Size By Product (Cardiopulmonary Rehabilitation Equipment {Elliptical Trainer, Stabilization Ball, Stationary Bicycle, Treadmill, Rower, Heart Rate Monitor, Blood Pressure Monitor}, Musculoskeletal Rehabilitation Equipment {Laser Therapy, Ultrasound, Electrotherapy}, Neurological Rehabilitation Equipment {Neuro-robotic Devices [Upper Limb Devices, Lower Limb Devices, Lower Arm Devices, Gait Training Devices, Exoskeleton Devices], Non-invasive Stimulators, Wearable Devices, Brain Computer Interface, Neuro-rehabilitation Assessment Equipment, Consumer Neuro-rehabilitation Equipment], Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/request-sample/detail/3363
Increasing rate of sports injuries and musculoskeletal disorders
In terms of segmentation by product, the cardiopulmonary rehabilitation equipment segment accounted for a considerable share and registered revenue of more than $2.5 billion in 2019. The segmental growth can be credited to the high prevalence of pulmonary and cardiac disorders due to lifestyle changes. Patients suffering from COPD (chronic obstructive pulmonary disease) and CHF (congestive heart failure) constantly need cardiopulmonary rehabilitation therapy, as they experience various cardiorespiratory abnormalities related to shortness of breath.
In addition, patients with high blood pressure and cardiovascular diseases require continuous monitoring, thereby escalating the adoption of the physical therapy equipment.
On the other hand, the musculoskeletal rehabilitation equipment segment recorded remuneration worth $13.1 billion in 2019, driven by the increasing cases of sports injuries and musculoskeletal disorders. This has led to an increased demand for electrotherapy devices and equipment used in musculoskeletal rehabilitation therapy. Furthermore, rising rates of accidents, coupled with the strong awareness about physical activity to maintain health and well-being, will further foster segmental growth in years to come.
Mounting healthcare spending and infrastructure improvements in Brazil
On the regional front, the Brazil rehabilitation equipment market was valued at above $424 million in 2019, which is attributable to the accelerating healthcare expenditure and improving healthcare infrastructure. The region also witnessed high demand for physical therapy treatment without any physician referral in the private physical therapy clinics.
As per the World Bank, in 2018, the private and public healthcare expenses were 9.1% of the total GDP in Brazil. The country also has taken initiatives to get rid of the inconvenient regulations for the approval of clinical trials. Due to these factors, there have been increased demand and supply of rehabilitation products in the region. Furthermore, the healthcare payment, including that of the physical therapy, has been funded by the government. These factors are anticipated to boost regional market trends in the foreseeable future.
Key rehabilitation equipment market players include MicroPort Scientific Corporation, DJO Global, St. Jude Medical, Inc., Bioness, Inc., Halma plc, Philips, Honeywell International, Inc., LifeWatch AG, and OMRON Corporation, among others. These firms are focusing on increasing their customer base and expanding their regional footprint through strategies such as new product launches and business expansions.
For instance, in February 2020, Rowheels launched an online marketplace, RehabPulse.com, with an aim to serve the complex demand from people with mobility challenges. Under the launch, the site has expanded its offerings by adding repairs, services, and other rehab products.
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