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Home Rehabilitation Products and Services Market to Reach USD 176.1 billion in 2023: Transparency Market Research

Albany - NY, Aug. 31, 2015 (GLOBE NEWSWIRE) -- The 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 2015 to 2023.

Recent estimates provided by the WHO stated that around 13% of the world's population was obese in 2014 and the global prevalence of obesity expanded by more than double from 1980 to 2014. Thus, rising number of people diagnosed with chronic conditions increases the uptake of various home care medical solutions such as rehabilitation devices, diabetes supplies, body support devices, and mobility assistive devices. Rehabilitation programs are measures that help people suffering from disabilities due to musculoskeletal conditions, amputations, and drug abuse, by improving, maintaining, and restoring physical strength and mobility. Home rehabilitation products comprise positioning devices, body support devices, general aids, wheel chairs, and others (walkers, canes, crutches, arm and shoulder slings, etc.).

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A rise in the number of individuals with disabilities, an expanding age group at higher risk of developing chronic conditions, and a baby-boomer generation that is approaching the most susceptible age for cardiovascular diseases, chronic conditions, and stroke, are expected to increase demand for physical therapists (PTs) and occupational therapists (OTs) and subsequently cardiac and physical rehabilitation equipment.

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Chronic diseases such as arthritis, cancer, acquired immunodeficiency syndrome (AIDS), chronic obstructive pulmonary disease (COPD), stroke, and respiratory diseases are major health concerns worldwide. Home health care devices and services serve prominent alternatives for diagnosis, treatment, and management of these diseases. Rising prevalence of chronic diseases coupled with an aging population supports the growth of the home rehabilitation products and services market during the forecast period. Furthermore, the American Diabetes Association estimated that one in every three adults in the U.S. would have diabetes by 2050. Increasing number of people diagnosed with such diseases drives demand for home health care medical devices and services, which would in turn boost demand for rehabilitation equipment.

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Positioning devices, body support devices, general aids, wheelchairs and others (resistance bands, therapy putty, pulley products, walkers, canes, crutches, arm, and shoulder slings) collectively form the home rehabilitation products market. Among these products, wheelchairs accounted for the largest market share and is expected to lead the position during the forecast period. Rising incidence of mobility disabilities and increasing geriatric population are the major factors driving the mobility assist devices market for home rehabilitation. By services, the market has been segmented into physical therapy services, occupational therapy services, speech therapy, respiratory therapy services, and other therapies (drug rehabilitation, balance therapy, aquatic therapy, etc.). Among these, physical therapy services accounted for the largest market as these services are increasingly availed by the elderly for the treatment of conditions such as arthritis, hip and joint replacements, and osteoporosis. Moreover, physical therapy is provided only by, or under the direction and supervision of, a physical therapist/physiotherapist that includes evaluation, prognosis, examination/assessment, diagnosis, plan of care/intervention, and re-examination.

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Key organizations studied and profiled in this study include AliMed, Inc., Active Medical & Rehabilitation Services Pvt. Ltd., DJO Global, Inc., ergoline GmbH, Ekso Bionics Holdings, Inc., Hocoma AG, Invacare Corporation, Medline Industries, Inc., Prism Medical Ltd., Patterson Medical Holdings, Inc., RehabCare, Stryker Corporation, and TecnoBody S.r.l. These players collaborate with rehabilitation agencies, clinics, and various other organizations through long-term agreements in order to provide innovative home rehabilitation devices and services.

The Global Home Rehabilitation Products and Services Market has been segmented as follows:

Home Rehabilitation Products and Services Market, by Products

  • Positioning Devices
  • Body Supports Devices (Lumbosacral, Cervical, Knee/Ankle/Arm/Shoulder support, etc.)
  • General Aids (Bathroom Aids, Bedroom Aids, etc.)
  • Wheel Chairs
  • Others (Walkers, Canes, Crutches, Arm and Shoulder Slings, etc.)

Home Rehabilitation Products and Services Market, by Services

  • Physical Therapy Services
  • Occupational Services
  • Speech Therapy Services
  • Respiratory Therapy Services
  • Others

Home Rehabilitation Products and Services Market, by Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • U.K.
  • Rest of Europe

Asia Pacific

  • Japan
  • China
  • Rest of Asia Pacific

Latin America (LATAM)

  • Brazil
  • Rest of LATAM

Middle East and Africa (MEA)

  • Saudi Arabia
  • South Africa
  • Rest of MEA

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Source:Transparency Market Research