Press release
Rehabilitation Products Market: Revolutionizing Healthcare - Market Overview 2024
The rehabilitation products market size has grown strongly in recent years. It will grow from $13.05 billion in 2023 to $13.92 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to the increasing prevalence of chronic diseases and disabilities, the growing aging population worldwide, rising awareness about the importance of rehabilitation, expanding insurance coverage for rehabilitation services, and rising healthcare expenditure globally.
The rehabilitation products market size is expected to see strong growth in the next few years. It will grow to $18.12 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to government initiatives and policies, a shift towards home-based rehabilitation, a focus on early intervention and preventive care, and expansion of healthcare infrastructure in emerging markets. Major trends in the forecast period include the adoption of telerehabilitation solutions, integration of artificial intelligence (AI) and Virtual Reality (VR), emphasis on mobility and accessibility, and utilization of sustainable and eco-friendly solutions.
Market Overview -
Rehabilitation products are specialized tools and equipment designed to assist individuals in regaining physical functionality and independence after injury, illness, or surgery. These products encompass a wide range of aids, including mobility devices and assistive technologies, tailored to support various aspects of rehabilitation, such as improving mobility, strength, coordination, and overall quality of life.
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Geriatric Population Surge Fuels Growth In The Rehabilitation Products Market
The increasing geriatric population is expected to propel the rehabilitation products market going forward. The geriatric population refers to individuals who are above the age of 65 and older and are characterized by specific health concerns and needs associated with aging. The surge in the geriatric population can be attributed to increased life expectancy due to advancements in healthcare and declining fertility rates. Rehabilitation products are used to promote functional independence, mobility, and overall well-being among the geriatric population, enabling older adults to lead active, fulfilling lives as they age. Rehabilitation products such as walking aids and mobility scooters provide support and assistance, enabling older adults to move around safely and independently. For instance, in January 2024, according to the Population Reference Bureau, a US-based not-for-profit research organization that focuses on people's health and well-being, the number of Americans aged 65 and older is estimated to rise significantly, from 58 million in 2022 to 82 million by 2050, marking a 47% increase. Furthermore, the proportion of the population aged 65 and older is expected to increase from 17% to 23% during this period. Therefore, the increasing geriatric population is driving the growth of the rehabilitation products market.
Competitive Landscape -
Major companies operating in the rehabilitation products market are Medline Industries Inc., Stryker Corporation, Zimmer Biomet Holdings, Smith & Nephew plc, Ottobock SE & Co. KGaA, DJO Global Inc., Sunrise Medical Inc., Össur (OSSR.Co), Drive DeVilbiss Healthcare (Medical Depot Inc.), Joerns Healthcare, Invacare Corporation IVC, Caremax Rehabilitation Equipment Co. Ltd., Etac AB, GF Health Products Inc., Prism Medical UK, Dynatronics Corporation, Biodex Medical Systems Inc., Carex Health Brands Inc., Roma Medical, Hocoma AG, Ekso Bionics, EZ Way Inc., Proxomed Medizintechnik, Hill-Rom Services Inc., Klinik Medifit
Innovative Solutions Transforming The Rehabilitation Products Market
Major companies operating in the rehabilitation products market are focused on developing innovative solutions, such as advanced virtual reality-based platforms, to enhance therapy outcomes and patient engagement. Virtual reality-based platforms are utilized in rehabilitation products to provide immersive and interactive experiences for patients undergoing therapy. For instance, in November 2022, Penumbra Inc., a US-based medical device company, launched the REAL y-Series, a full-body, non-tethered immersive healthcare offering for rehabilitation. This technology utilizes upper and lower body sensors to track full body movement and progress in real time, providing a hands-free, sensor-based virtual reality (VR) platform and allowing clinicians to customize exercises and activities to challenge, motivate, and engage patients. This innovative technology aims to address challenges in rehabilitation, such as patient motivation and engagement, by maximizing therapy benefits through higher engagement and intensity, potentially improving patient outcomes.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/rehabilitation-products-global-market-report
Key Segments -
The rehabilitation products market covered in this report is segmented -
1) By Product Type: Medical Bed, Mobility Scooter, Walker, Cane, Patient Lift, Sling, Other Product Types
2) By Application: Physical Rehabilitation And Training, Strength, Endurance, And Pain Reduction, Occupational Rehabilitation And Training
3) By End User: Physiotherapist, Orthopedists, Rehab Centers, Occupational Therapists, Speech Therapists, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
The rehabilitation products market size is expected to see strong growth in the next few years. It will grow to $18.12 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to government initiatives and policies, a shift towards home-based rehabilitation, a focus on early intervention and preventive care, and expansion of healthcare infrastructure in emerging markets. Major trends in the forecast period include the adoption of telerehabilitation solutions, integration of artificial intelligence (AI) and Virtual Reality (VR), emphasis on mobility and accessibility, and utilization of sustainable and eco-friendly solutions.
Market Overview -
Rehabilitation products are specialized tools and equipment designed to assist individuals in regaining physical functionality and independence after injury, illness, or surgery. These products encompass a wide range of aids, including mobility devices and assistive technologies, tailored to support various aspects of rehabilitation, such as improving mobility, strength, coordination, and overall quality of life.
Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=14986&type=smp
Geriatric Population Surge Fuels Growth In The Rehabilitation Products Market
The increasing geriatric population is expected to propel the rehabilitation products market going forward. The geriatric population refers to individuals who are above the age of 65 and older and are characterized by specific health concerns and needs associated with aging. The surge in the geriatric population can be attributed to increased life expectancy due to advancements in healthcare and declining fertility rates. Rehabilitation products are used to promote functional independence, mobility, and overall well-being among the geriatric population, enabling older adults to lead active, fulfilling lives as they age. Rehabilitation products such as walking aids and mobility scooters provide support and assistance, enabling older adults to move around safely and independently. For instance, in January 2024, according to the Population Reference Bureau, a US-based not-for-profit research organization that focuses on people's health and well-being, the number of Americans aged 65 and older is estimated to rise significantly, from 58 million in 2022 to 82 million by 2050, marking a 47% increase. Furthermore, the proportion of the population aged 65 and older is expected to increase from 17% to 23% during this period. Therefore, the increasing geriatric population is driving the growth of the rehabilitation products market.
Competitive Landscape -
Major companies operating in the rehabilitation products market are Medline Industries Inc., Stryker Corporation, Zimmer Biomet Holdings, Smith & Nephew plc, Ottobock SE & Co. KGaA, DJO Global Inc., Sunrise Medical Inc., Össur (OSSR.Co), Drive DeVilbiss Healthcare (Medical Depot Inc.), Joerns Healthcare, Invacare Corporation IVC, Caremax Rehabilitation Equipment Co. Ltd., Etac AB, GF Health Products Inc., Prism Medical UK, Dynatronics Corporation, Biodex Medical Systems Inc., Carex Health Brands Inc., Roma Medical, Hocoma AG, Ekso Bionics, EZ Way Inc., Proxomed Medizintechnik, Hill-Rom Services Inc., Klinik Medifit
Innovative Solutions Transforming The Rehabilitation Products Market
Major companies operating in the rehabilitation products market are focused on developing innovative solutions, such as advanced virtual reality-based platforms, to enhance therapy outcomes and patient engagement. Virtual reality-based platforms are utilized in rehabilitation products to provide immersive and interactive experiences for patients undergoing therapy. For instance, in November 2022, Penumbra Inc., a US-based medical device company, launched the REAL y-Series, a full-body, non-tethered immersive healthcare offering for rehabilitation. This technology utilizes upper and lower body sensors to track full body movement and progress in real time, providing a hands-free, sensor-based virtual reality (VR) platform and allowing clinicians to customize exercises and activities to challenge, motivate, and engage patients. This innovative technology aims to address challenges in rehabilitation, such as patient motivation and engagement, by maximizing therapy benefits through higher engagement and intensity, potentially improving patient outcomes.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/rehabilitation-products-global-market-report
Key Segments -
The rehabilitation products market covered in this report is segmented -
1) By Product Type: Medical Bed, Mobility Scooter, Walker, Cane, Patient Lift, Sling, Other Product Types
2) By Application: Physical Rehabilitation And Training, Strength, Endurance, And Pain Reduction, Occupational Rehabilitation And Training
3) By End User: Physiotherapist, Orthopedists, Rehab Centers, Occupational Therapists, Speech Therapists, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
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