Rehabilitation Products Market Drug Discovery, Outlook, Scope 2021, Rapid Growth, Revenue, Industry Size & Share, Business Development and Challenges
Rehabilitation is a process involving personalized healthcare for the improvement and maintenance of physical strength, renewal of health conditions, and enhanced mobility, coordination, and cognition. Rehabilitation is a highly conventional concept, as it is believed to aid a patient in seeking greater control over their own health following a major illness, injury, or surgery. In layman’s terms, rehabilitation can be explained as the method designed to clinically assist an individual in apprehending the highest quality of life that can be achieved. In essence, rehabilitation does not necessarily reverse the significant changes caused by an injury, trauma, or disease. However, the overall process is largely appreciated as it helps restore the optimal well-being of an individual.
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Global Rehabilitation Products Market Dynamics
Among the significant growth drivers of the global rehabilitation products market are increasing incidences of chronic ailments. Individuals ailing from several chronic diseases are usually in need of very subtle, protracted care in order to re-establish their physical, mental, as well as emotional health & well-being. Moreover, rehabilitation products find extensive application in cases of individuals suffering from a number of disabilities including amputation, arthritis, and other health issues caused by practices like drug abuse, etc. Such factors are said to facilitate the growth of the global market. However, industry analysts suggest that one of the negative factors hindering the growth of this market to a great extent is the high, and sometimes unaffordable, costs & maintenance expenses of rehabilitation equipment. In the survey organized by the Centers for Disease Control and Prevention (CDC) in 2012, around 117 million people were reported to be going through one or more chronic diseases, including obesity, cancer, and type 2 diabetes. Ever since, health maintenance following the diagnoses of severe chronic diseases has been requiring rehabilitation products, which has therefore, accelerated the demand for these products, leading to significant expansion of the global market for rehabilitation products over the years. Government initiatives targeted to increase treatment facilities for patients requires a major availability of rehabilitation equipment, which could potentially boost the global rehabilitation products market growth. Growing awareness of the important benefits of treatment using rehabilitation products is another essential factor accountable for market growth. Hence, the global market is poised to witness a fast-paced development during the forecast period.
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Rising Geriatric Population to Cater to Global Rehabilitation Products Market Growth
The continual surge in the geriatric population worldwide, coupled with growth in surgical procedures, offers a promising growth opportunity for the global rehabilitation products market. Various scientific developments have made life expectancy more likely and achievable for the global geriatric population. Geriatric patients with severe, chronic medical conditions, who often look to avoid highly invasive surgeries, require efficient rehabilitation products for health maintenance. Thus, the escalating number of surgeries, along with mounting healthcare expenditures, encourage people to opt for rehabilitation procedures, thereby propelling the global demand for rehabilitation products. According to the National Center for Health Statistics, around 48 million inpatient surgical procedures were carried out in the U.S. in 2009. Consequently, there was a push in market growth for rehabilitation products, as these products are known to be highly beneficial for faster recovery of patients post surgeries.
Global Rehabilitation Products Market – Geographical Analysis
Factors such as advancing healthcare infrastructure, and augmenting disposable income of people, which is helping them avail better healthcare facilities, particularly in the evolving economies of the Asia Pacific region, including India and China, are leading to significant growth of the global rehabilitation products market. The general development pattern of the rehabilitation products industry is expected to be highly optimistic. Increasing healthcare facilities have led to a wider patient base in the developing economies that is now able to access and afford medical rehabilitation services in a more convenient way. However, the rehabilitation products market across developing regions of the world is likely to amass significant growth over the forecast timeline.
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Global Rehabilitation Products Market – Competitive Background
Key companies operating in the global rehabilitation products industry include St Joseph’s Care Group, Physiotherapy Associates, AliMed, La Nostra Famiglia, Niva Medical Co., US Physical Therapy, MHL Clinics, Select Medical, and RehabCare.
The significant market contenders in the worldwide rehabilitation products industry have been indulging in several revamping activities, aiming to enhance their services, expand their product portfolio, and eventually consolidate their market status. For instance, the U.S.-based Restorative Therapies Inc., a leading manufacturer, marketer, and distributor of FDA-approved medical devices for neurological rehabilitation & critical care, announced a new corporate branding, as well as a new company website, in September 2019. The branding is aimed at supporting the company’s goal of bringing positive therapeutic outcomes for patients in neurological rehabilitation, critical care, and home settings.
Strategic acquisitions and expansions among the market players are fueling market growth of rehabilitation products. For instance, in November 2017, Novacare Rehabilitation launched up to seven rehabilitation centers in the U.S. As a result, the company developed into the largest outpatient rehabilitation care provider in the region.
However, the global demand for rehabilitation products was boosted by significant development of facilities in rehabs & mobility centers. In August 2019, U.K.-based Cowper’s Mobility Centre relocated to a larger facility in a bid to offer improved rehabilitation facilities to patients following hospital discharge, and further help them employ the products first-hand and provide important guidance regarding mobility issues.
Furthermore, technological breakthroughs, paired with new product launches, are expected to contribute to the global market expansion during the forecast period. For instance, Yamaha Motor Corp. brought out the new NAVIGO joystick power system for wheelchair riders in March 2019. The novel product line is focused on fulfilling various mobility requirements of the wheelchair riders.
Global Rehabilitation Products Market – Taxonomy
On the basis of product type, the global market is classified into:
- Wheel Chairs
- Wrist support
- Cervical traction kits
- Walkers, rotators, and sticks
- Adhesive bandage/skin traction
- Cervical support
- Knee/ankle support
- Abdominal support
- Pelvic, skin, and ankle traction kits
- Arm/shoulder support
On the basis of end-user, the global market is classified into:
- Rehab centers
- Occupational therapists
- Speech therapists
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Table of Content
Global Rehabilitation Products Market Research Report
Section 1: Global Rehabilitation Products Industry Overview
Section 2: Global Economic Impact on Rehabilitation Products Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Rehabilitation Products Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Rehabilitation Products Market Forecast
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