Rehabilitation Products Market Projected to Witness Vigorous Expansion by 2020
Physical medicine and rehabilitation has consistently been a core aspect of the healthcare industry. It is a branch of medicine that holds equipment, medicine, and training regimen that are intended to impart the maximum possible strength and mobility that a patient had before entering a debilitative state. Once a patient undergoes treatment and/or surgeries for their physical impairment or disability, they are in need of physical rehabilitation in order to resume normal life and daily activities. Rehabilitation products largely involve rehabilitation post injuries of the nervous system, ligaments, bones, and muscles.
Rehabilitation products can include speech therapy and occupational therapy, apart from physical therapy. The core aim of most rehabilitation products is to impart independence to a patient in a physical manner after they have successfully undergone treatment for their issues. These products are designed to restore, maintain, and even improve the physical strength of a patient after treatment, including restoring their mobility and cognition, as well as physical coordination. The products could include exercise equipment, motion devices, daily living aids, positioning products, treatment tables, and healthcare furniture.
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Global Rehabilitation Products Market: Overview
Aimed at providing pain relief, rehabilitation assists patients in gaining greater range of motion, along with supporting them in the execution of their day-to-day activities after an illness, surgery, or an accident. As surgical and accident cases are on the rise, more demand for rehabilitation products shall bring in significant growth of the market over the forthcoming period.
By end user, the key segments of the global market for rehabilitation products are speech therapists, orthopedists, physical therapists, rehab nurses, and occupational therapists. Based on area of injury, wrist support, cervical support, wheel chairs, ankle or knee support, general aids, arm or shoulder support, back lumbosacral support, traction kits for ankle, skin, and pelvis, adhesive bandage or skin traction, cervical traction kits, rollators, sticks, and walkers are the key segments.
The report provides a succinct analysis of the prominent growth drivers, restraints, trends, and opportunities awaiting in the global market for rehabilitation products. The value chain analysis, competitive landscape, comprehensive overview of the global market, and market attractiveness have also been covered in the report.
Global Rehabilitation Products Market: Drivers and Restraints
The growing geriatric patient base worldwide is one of the foremost growth drivers of the market. Geriatric or aged people are at more risk of developing health conditions that have to be treated using rehabilitation products. With the rising number of cases of cardiovascular diseases, drug abuse, cancer, and disabilities over the globe, the need for rehabilitation products will escalate, boosting the growth of the market. Efforts at upgrading the healthcare infrastructure across several developing and developed countries has also been aiding growth.
On the other hand, slower rates of adoption of these devices due to their high prices, along with low awareness about their benefits can pose a threat to the advancement of the global rehabilitation products market. However, the growing demand for women’s health rehabilitation products, driven by increasing health consciousness and awareness drives worldwide, can furnish substantial growth opportunities. The negative impact of the aforementioned restraints can also be erased by technological upgrades in rehabilitation products, a key business strategy of a number of market players.
Global Rehabilitation Products Market: Regional Outlook
Based on geography, the global market for rehabilitation products has been broadly segmented into Asia Pacific, North America, Europe, and Rest of the World (RoW). While North America stands as the global leader of the rehabilitation products market, Europe secured the second position. Government encouragement, widespread adoption of technology, and high purchasing power of the people are responsible for the expansion of these regional markets.
An upsurge in medical tourism activities in the developing nations has been promoting the adoption of rehabilitation products in countries such as India and China. As the incidence of chronic disorders has been rising at a significant pace, the demand for these products is likely to fire up. Major opportunities are coming to light in Africa, the Middle East, and Latin America, as the unmet needs of patients in these regions are being acknowledged by several market players.
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Companies mentioned in the research report
The leading companies in the market are adopting mergers and acquisitions, partnerships, along with extensive product development activities. For instance, U.S based sports medicine manufacturer Take Breg launched a product for post-surgical rehabilitation in March 2017. The product features a chargeable Bluetooth wireless sensor that tracks the progress of the exercises prescribed to patients.
Some of the leading companies operating in the global market for rehabilitation products are La Nostra Famiglia, US Physical Therapy, Niva Medical Co., MHL Clinics, RehabCare, St Joseph’s Care Group, Physiotherapy Associates, Select Medical, and AliMed.