Increase in the geriatric population and the growth in the prevalence of chronic diseases propel the growth of the global home rehabilitation products market
“These home rehabilitation products emerged at the forefront during the outbreak of the COVID-19 pandemic, primarily to limit the risk of exposure to the virus for patients and clinicians. Increase in the geriatric population and the growth in the prevalence of chronic diseases propel the growth of the global home rehabilitation products market. “
According to a new report published by Allied Market Research, titled, “Home Rehabilitation Products Market,” The Home Rehabilitation Products Market Size was at $22.4 billion in 2021, and is estimated to reach $43.6 billion by 2031, growing at a CAGR of 7.1% from 2022 to 2031.
Home Rehabilitation Products Market Analysis are divided wheelchairs, general aids, body support devices, and positioning devices. All these different types of home rehabilitation products help people suffering from disabilities by improving, maintaining, and restoring physical strength and motion.
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Home rehabilitation products assist people with impairments by enhancing, preserving, and recovering their physical strength and mobility. Increase in elderly population and chronic illness incidences propel the global market for home rehabilitation products.VR-based home rehabilitation can induce successful treatment protocol adherence as effectively as a human-supervised procedure due to real-time multisensory capabilities. Through enhanced stimulation, multisensory, auditory, and visual feedback can motivate consumers to exercise more. In addition, IVR-based physical rehabilitation permits enhanced quantitative input from both the user and the therapist. VR can also be utilized as a valuable exercise treatment tool for a variety of conditions requiring rehabilitation; it can be a solution to the difficulties associated with traditional exercise therapy approaches.
During the Home Rehabilitation Products Market Forecast period, presence of virtual reality in the home rehabilitation product industry is expected to grow as a result of government assistance in the form of incentives. In addition to expanding healthcare infrastructure and varied rehabilitation support programs, the Home Rehabilitation Products Market Opportunity is anticipated to grow.
The home rehabilitation products market is segmented on the basis of type, patient type, end user, and region. On the basis of type, the market is classified into wheelchairs, general aids, body support devices, positioning devices, and others. The wheelchairs, segment occupied a major Home Rehabilitation Products Market Share in 2021, and is projected to maintain its dominance during the forecast period. This Home Rehabilitation Products Market Growth is attributed to rise in number of spinal cord injuries, which need mobility assistance. However, the others segment is anticipated to grow in the future.
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Depending on patient type, the market is bifurcated into adults and pediatric. The adults segment occupied the major share of the market in 2021, and is projected to maintain its dominance during the forecast period. This is attributed to increasing number of disabled patients in the adults age group.
By end user, the market is segregated into hospitals, long term care centers, outpatient centers, medical research institutes, and others. The long-term care centers segment is anticipated to grow at the highest rate during the forecast period, owing to increase in growing awareness regarding these long-term care centers and requirement of specialized care required by elderly.
In 2021, North America accounted for 42.3% in the global home rehabilitation products market, and is expected to maintain its dominance during the forecast period. However, North America and Europe are expected to possess highest CAGRs, owing to rise in health concerns among people in these regions.
Increase in geriatric population is one of the primary factors that fuels the manual wheelchair market growth. The number of people above the age of 60 have experienced threefold growth in recent years, which is expected to increase during the forecast period as well. Elderly people are more prone to chronic diseases such as cardiac diseases, hypertension, and mobility impairment. Moreover, they are also susceptible to arthritis that limits mobility. As a result, demand for wheelchairs from geriatric population is expected to increase extensively in the coming years, thus driving the home rehabilitation products market.
Home Rehabilitation Products Market Demand such as wheel chairs has considerably increased among older population. Awareness regarding home rehabilitation programs for patients is a long-lasting health issue , which has also increased the product demand across the globe. Home Rehabilitation Products Market Trends such as rising road accidents and development of advance mobility products further increase demand for these products among consumers.
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The major players analyzed for home rehabilitation products industry include Medline Industries, Inc., Stryker Corporation, Invacare Corporation, DJO Global, Ekso Bionics Holdings, Inc., RehabCare, Active Medical and Rehabilitation Services Pvt. Ltd., ergoline GmbH, Performance Health (formerly Patterson Medical), Baxter International (US), Arjo, Colfax Corp, Dynatronics Corp., Handicare Group AB, Drive DeVilbiss International. These major market players have adopted various strategies such as product launch and acquisition to expand their market reach.
Key findings of the study
On the basis of product type, the wheelchairs segment dominated the market in the year 2021, however, the general aids segment is expected to be the fastest growing segment in the home rehabilitation market.
On the basis of patient type, the pediatric segment is expected to be the fastest growing segment with a CAGR of 8.6% during the forecast period.
On the basis of end user, the hospitals segment is expected to be the fastest growing segment with a CAGR of 8.1% during the forecast period.
Region wise, North America dominated the global home rehabilitation products market.
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