The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Rehabilitation Equipment Global Market Report 2024, the rehabilitation equipment market is expected to show significant growth in the forecast period.

Market Expansion and Growth Projections

• Current Growth
  • The rehabilitation equipment market grew from $16.27 billion in 2023 to an anticipated $17.36 billion in 2024, at a 6.7% CAGR.
  • Historical growth driven by an aging population, rising incidences of disabilities, increased sports participation, chronic diseases, sports injuries, and preventive healthcare focus.
• Future Growth
  • Expected to reach $22.84 billion by 2028, with a 7.1% CAGR.
  • Growth drivers include personalized medicine, rising healthcare expenditure, telemedicine, and increasing degenerative diseases prevalence.

Rising Demand for Home Healthcare Services

• Home Healthcare Trends
  • Home healthcare services encompass a range of medical and non-medical care provided at home.
  • Growth factors: aging populations, medical technology advancements, and a shift towards value-based care.
• Market Impact
  • Rehabilitation equipment in home healthcare promotes recovery, independence, and patient safety.
  • In 2021, Medicare Fee for Service users utilizing home health care increased by 8.3% to about 3 million, with 11,474 Medicare-certified home health organizations.

View More On The Rehabilitation Equipment Market Report 2024 – https://www.thebusinessresearchcompany.com/report/rehabilitation-equipment-global-market-report

Key Players in the Market

• Major Companies
  • Leading companies include Medtronic plc, Medline Industries Inc., Koninklijke Philips N.V., Stryker Corporation, Hill-Rom Holdings Inc., and Arjo.

Technological Advancements: VR-Based Rehabilitation

• Innovative Solutions
  • Companies are developing VR-based rehabilitation platforms to stay competitive.
  • VR platforms facilitate rehabilitation for physical or cognitive impairments, enhancing patient engagement and outcomes.
• Case Study: Penumbra Inc.
  • In November 2022, Penumbra Inc. launched the REAL y-Series, a full-body VR-based rehab platform for upper and lower extremities.
  • The platform supports physical, cognitive, and mental well-being, offering comprehensive therapy solutions.

Strategic Acquisitions: Ekso Bionics and Parker Hannifin

• Expanding Portfolio
  • In December 2022, Ekso Bionics acquired Parker Hannifin Corporation for $10 million.
  • The acquisition enhances Ekso Bionics’ product portfolio for home use and strengthens its position in lower-extremity robotic products.
• Global Reach
  • The acquisition enables key commercial and research partnerships, including with Vanderbilt University, expanding Ekso Bionics’ global footprint.

Market Segmentation and Regional Dynamics

• Segmentation Overview
  • By Product:Therapy Devices, Daily Living Aids, Mobility Equipment, Exercise Equipment, Body Support Devices.
  • By Application:Physiotherapy, Occupational Therapy, Other Applications.
  • By End-use:Hospitals and Clinics, Rehab Centers, Home Care Settings, Physiotherapy Centers.
• Regional Insights
  • North America was the largest region in 2023.
  • Asia-Pacific is expected to be the fastest-growing region in the forecast period, driven by increased healthcare investments and technological adoption.

Conclusion

• The rehabilitation equipment market is set for robust growth, fueled by advancements in personalized medicine, telemedicine, and AI integration.
• Innovations in VR-based rehabilitation and strategic acquisitions are reshaping the market landscape.
• As demand for home healthcare services rises, the market evolves to meet diverse needs, promoting recovery and independence in patient care.
• With significant growth in North America and rapid expansion in Asia-Pacific, the global rehabilitation equipment market continues to innovate and expand, addressing the needs of an aging population and a growing prevalence of chronic conditions.

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