Northbrook, IL 60062 -- (SBWIRE) -- 09/22/2022 -- The global rehabilitation equipment market is projected to reach USD 19.8 billion by 2027 from USD 14.9 billion in 2022, at a CAGR of 5.9% during the forecast period.

Rising demand for home healthcare services;

Globally, an increasing number of government regulations are being implemented to reduce the duration and cost involved in healthcare treatments. The provision of services at a patient's home is typically more cost-effective than in institutions, particularly if the available informal care is used effectively. Moreover, with the evolution of new technologies, such as remote patient monitoring, the home care segment is expected to witness significant growth in the coming years. The growing demand for home care will, in turn, increase the demand for equipment required for treating patients in home care settings, including patient transfer devices, mobility devices, and medical beds, in the coming years.

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"The rehabilitation equipment market is projected to grow at a CAGR of 5.9% between 2022 and 2027."

The global rehabilitation equipment market is projected to reach USD 19.8 billion by 2027 from USD 14.9 billion in 2022, at a CAGR of 5.9% during the forecast period. The growth of this market is primarily driven by significant risk of injuries to caregivers while manually handling the patients, increasing growth in geriatric and obese population that often requires rehabilitation therapies, and an increasing demand for rehabilitation care with an increasing access to healthcare. However, a lack of training provided to caregivers for the efficient operation of rehabilitation equipment is a major factor restraining market growth.

"Therapy equipment was the largest and fastest-growing segment by product in rehabilitation equipment market in 2021"

Based on product, the rehabilitation equipment market is segmented into therapy equipment, daily living aids, mobility equipment, exercise equipment, and body support devices. In 2021, the therapy equipment segment accounted for the largest share of the rehabilitation equipment market. Increasing growth in the patients opting for physiotherapy and rehabilitation therapies are driving the demand for therapy equipment globally.

"physical rehabilitation & training segment is the largest application segment in the rehabilitation equipment market in 2021"

Based on application, the rehabilitation equipment market is segmented into strength, endurance, and pain reduction; physical rehabilitation & training; and occupational rehabilitation & training. In 2021, the physical rehabilitation & training segment accounted for the largest share of the rehabilitation equipment market. Physical rehabilitation and training help with osteoarthritis, joint replacement, sports injury, knee pain, back pain, carpal tunnel syndrome, Alzheimer's disease, multiple sclerosis, and cerebral palsy. Increasing incidence of above mentioned injuries and diseases are resulting into a significant growth in the segment.

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"Europe to witness the highest growth rate during the forecast period."

Europe accounted for the largest share of the global rehabilitation equipment market. The large share of this regional segment is attributed to a significant contribution from an economically stable and technologically advanced countries such as Germany, UK, and France. Increasing geriatric population and rising prevalence of musculoskeletal disorders across these countries are driving the market growth in Europe. The Asia Pacific market is projected to register the highest CAGR during the forecast period. Market growth in the Asia Pacific is attributed to the rising healthcare expenditure and growing number of healthcare facilities in Asian countries.

Key Market Players;

The product and services in the rehabilitation equipment market is dominated by few globally established players such as Baxter International (US), Invacare Corporation (US), Medline Industries, LP (US), and Arjo (Sweden).

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