Home Rehabilitation Products and Services Market Looks to Physical Therapy Services for Faster Growth; to Reach US $176.14 Bn by 2023

Global Home Rehabilitation Products and Services Market was valued at USD 84,233.8 million in 2014 and is estimated to reach a market worth USD  176,145.0 million in 2023 increasing at a CAGR of 8.5% from 2014 to 2020.


Albany, NY -- (SBWire) -- 07/19/2016 --The key driver for the global home rehabilitation products and services market is the growing geriatric population. The growing number of senior citizens is creating a heavy demand for these products and services across the world. Other reasons include the increasing prevalence of diabetes, obesity, and other chronic illnesses.

One the other hand, this market is currently being restricted by high service costs and the lack of insurance coverage in developing economies. The report divides the global home rehabilitation products and services market based on products, services, and geography.

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Based on product, this market is divided into positioning devices, wheel chairs, general aids, body supports devices, and others. The leading segment in this category for 2014 was wheelchairs, owing to a high rate of lower body injuries and a growing geriatric population. Wheelchairs are also among the oldest rehabilitation products in the healthcare industry, which makes the elderly prefer them more than other products.

Based on service, the global home rehabilitation products and services market is segmented into respiratory therapy services, speech therapy services, occupational services, physical therapy services, and others. In 2014, this market was led by the segment of physical therapy services. This segment is expected to continue its dominance over the given forecast period, owing to a growing prevalence of postural dysfunction, mobility-based injuries, sports injuries, and neck and back pain. The growing geriatric population is a major driver for this segment as the elderly are the most common consumers of physical therapy services.

The report's geographical analysis of the global home rehabilitation products and services market can be understood through its major segments of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. According to the report, this market was dominated by North America, which held the largest share in the market in 2014. North America led the global home rehabilitation products and services market due to factors including better healthcare access, rising expenditure and costs in healthcare, growing geriatric population, and rising prevalence of chronic illnesses.

On the other hand, Asia Pacific holds the fastest growth rate in the global home rehabilitation products and services market, owing to a rapidly developing healthcare industry and growing number of patients with chronic and serious ailments. India, for instance, is one of the nations with the highest number of road accidents, creating a higher demand for rehabilitation and physical therapy services.

The key players in the global home rehabilitation products and services market are TecnoBody S.r.l., Stryker Corporation, RehabCare, Prism Medical, Medline Industries, Inc., Invacare Corporation, Hocoma AG, Ekso Bionics, ergoline GmbH, DJO Global, Inc., Active Medical & Rehabilitation Services Pvt. Ltd., and AliMed, Inc.

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