Daily Living Aids Product Type Segment Slated to Touch a Value of About US$ 3,700 Mn in 2022
New York, NY -- (SBWIRE) -- 02/15/2019 -- The global rehabilitation equipment market is expected to witness sustained growth due to the rising incidences of degenerative diseases such as Parkinson's, arthritis, etc. and a growing number of patients suffering from trauma who need rehabilitation therapy. In addition, a growing geriatric population is also likely to spur market growth during the assessment period. There is a pressing need for devices that provide assistance to the physically challenged people across the globe. Moreover, since manufacturers have established excellent channels of communication with the needy population of such devices, innovation in the rehabilitation equipment market has also increased to a new level. Also, governments across the world are providing support and subsidies for rehabilitation equipment which is also likely to boost the demand for such kind of equipment. Moreover, favorable reimbursement policies in the developed markets of the West are expected to stimulate market growth as well.
The global rehabilitation equipment market is slated to touch a value of about US$ 13,400 Mn in the year 2022 and grow at a robust CAGR during the assessment period.
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4 Forecast Highlights on Global Rehabilitation Equipment Market
As per the forecast of Persistence Market Research, the mobility equipment product type segment is slated to touch a value of more than US$ 3,900 Mn in the year 2022. This represents a robust CAGR growth during the assessment period of 2017-2022. The mobility equipment product type segment is estimated to account for more than one-fourth of the revenue share of the product type segment by the year 2017 and is forecasted to lose market share by 2022 over 2017.
As per the forecast of Persistence Market Research, the rehabilitation centers segment will reach a value of about US$ 3,350 Mn in the year 2017. This represents a robust CAGR growth during the forecast period. The rehabilitation centers segment is forecasted to account for nearly one-third of the total revenue share of the end user segment by the end of the year 2017 and is expected to lose in market share by 2022 as compared with the year 2017.
As per the forecast of Persistence Market Research, the physiotherapy segment is slated to reach a value of more than US$ 9,800 Mn in 2022. The physiotherapy segment is expected to gain market share by the end of the year 2022. The largest share is contributed by the Europe region in the physiotherapy segment.
Persistence Market Research forecasts the Germany rehabilitation equipment market to exhibit a compound annual growth rate (CAGR) of nearly 6% from 2017 to 2022.
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The report has also included the profiles of some of the leading companies in the rehabilitation equipment market like Caremax Rehabilitation Equipment Co. Ltd, Drive Devilbiss Healthcare, Invacare Corporation, GF Health Products, Inc., Roscoe Medical, Medline Industries, Inc., Roma Medical Aids Ltd., and Dynatronics Corporation.