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 Smart Portable Rehabilitation Devices Global Market Report 2024, the smart portable rehabilitation devices market is expected to show significant growth in the forecast period.

Market Expansion Overview

• 2023 Market Size: $2.49 billion
• 2024 Market Size: $2.88 billion
• CAGR: 15.6%

The smart portable rehabilitation devices market has experienced substantial growth recently, driven by increasing disability cases, the adoption of virtual reality (VR) technology in healthcare, and the rising use of VR for patient treatment.

Future Market Projections

• 2028 Market Size: $5.08 billion
• CAGR: 15.3%

The market is poised for rapid growth, fueled by an aging population, higher prevalence of non-communicable diseases, supportive virtual rehabilitation policies, and a stronger focus on patient-centric healthcare. Trends include product innovations, technological advancements, and improved internet connectivity.

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Geriatric Population Impact

• Geriatric Population Growth: Expected to reach 2.1 billion by 2050

The increasing elderly population drives market expansion. Smart portable rehabilitation devices help senior citizens maintain independence by enabling health monitoring and self-paced rehabilitation. WHO data indicates a rise from 1.4 billion individuals aged 60 and over in 2022 to 2.1 billion by 2050.

Key Market Players

• Major Companies: Medline Industries Inc., Invacare Corporation, Caremax Rehabilitation Equipment Ltd, Hinge Health, Drive Devilbiss Healthcare, Kinova Robotics, GF Health Products Inc., Dynatronics Corporation, Bioness Inc., Motion Composites, MindMaze, Neofect, Hocoma, Tyromotion, Myomo Inc., Esko Bionics, AlterG, ReWalk Robotics, LiteGait, suitX, Rifton Equipment, InnoMotion, Reha Technology AG, Rex Bionics, Kinestica, Ankon Medical Technologies, DyCare, Bionik Laboratories.

Strategic Partnerships

• Example Partnership: Manipal Hospitals and ConnectedLife (March 2022)

Companies are forming strategic partnerships to enhance market competitiveness. Manipal Hospitals partnered with ConnectedLife to use Fitbit wearable technology for post-surgery rehabilitation. This collaboration enables remote monitoring and patient guidance, using devices to track vital signs and recovery metrics.

Mergers and Acquisitions

• Notable Merger: DIH Technology and Aurora Technology Acquisition Corp. (December 2022)

The merger of DIH Technology and Aurora Technology Acquisition Corp. aims to revolutionize rehabilitation devices by integrating robotics, augmented reality, virtual reality, and AI, leading to more effective and personalized treatment plans.

Market Segmentation

• By Type: Daily Living Aids, Mobility Equipment, Exercise Equipment, Body Support Devices
• By Rehabilitation Type: Passive Rehabilitation, Active-Assistive Rehabilitation
• By End-User: Hospitals and Clinics, Rehabilitation Centers, Physiotherapy Centers, Other End-Users

Regional Insights

• Largest Market in 2023: North America

The smart portable rehabilitation devices market is segmented by type, rehabilitation type, and end-user, with North America leading in market size as of 2023. The region’s advanced healthcare infrastructure and high adoption rate of new technologies contribute to its dominant market position.

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