Home Rehabilitation Products And Services Market Size USD 230.16 Bn By 2030

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Table of Content

The global home rehabilitation products & services market size was evaluated at USD 144.41 billion in 2022 and is projected to hit around USD 230.16 billion by 2030 with a registered CAGR of 5.9% during the forecast period 2022 to 2030.

The rising incidences of road accidents, growing geriatric population, and rising prevalence of diseases are the major factors that fuel the growth of the global home rehabilitation products and services market. The rise in the population of persons with disabilities is a significant driver of the market. It is estimated that around 700 million people in the Asia Pacific region are suffering from some type of disability. The major reasons behind the disabilities are road traffic accidents, aging, and natural disasters. Moreover rising prevalence of respiratory diseases among the population is boosting the growth of the market. As per the data published by the WHO, chronic obstructive pulmonary disease (COPD) causes around 2.7 million deaths each year across the globe and it is the fourth major reason for deaths. Moreover, the growing geriatric population and rising number of orthopedic surgeries are boosting the adoption of rehabilitation products and services. The rising popularity of telerehabilitation is further fueling the demand among the global population. The consultants can offer consultations to their patients through online platforms that offer convenience to the patients and hence its adoption is rising among patients.

Home Rehabilitation Products And Services Market Report Scope

 

Report Highlights

• Based on the type, the services segment dominated the market in 2020. This can be attributed to the increased awareness regarding various therapies such as speech therapy, physical therapy, and respiratory therapy are extremely popular. The services are the major part as the service providers or the therapists help in improving the quality of life of the patients by designing different types of exercises that help the patients to overcome their pain, strengthen muscles, improve posture, and various other benefits. The huge contribution of the services in improving patients’ conditions has made this a dominating segment globally.
• Based on the distribution channel, online stores are estimated to be the most opportunistic segment during the forecast period. The rapid surge in the growth of online pharmacies and other platforms that provides various medical devices is expected to boost the growth of this segment. Moreover, huge investments by the market players to enhance their digital presence is highlighting the importance of digital distribution channels. Further, the convenient payment, home delivery options, and easy return and replacement offered by online retailers are driving market growth.

Market Dynamics

Driver: Growing prevalence of the respiratory disorder among the population

According to the World Health Organization, various respiratory disorders such as COPD, lung cancer, and CVDs are rapidly surging among the population. COPD is estimated to become the third leading cause of global deaths by 2030. Hence the rising prevalence of COPD and the rising number of deaths associated with it are expected to drive the demand for home rehabilitation products and services during the forecast period.

Restraints: High cost of rehabilitation services and products

The high costs associated with the acquisition of rehabilitation products and services make it unaffordable for patients in low and middle-income countries. This may hinder the growth of the market during the forecast period.

Opportunities: The adoption of AI and digital technologies

The rapid surge in the telerehabilitation platforms and the use of the latest technologies like AI, VR, and IoT in digital platforms are expected to provide growth avenues to the market players in the foreseeable future and drive market growth.

Challenges: Lack of awareness

The lack of awareness among the population especially in developing and underdeveloped countries is a major challenge faced by the market players in the home rehabilitation products and services market. Moreover, the lack of proper healthcare infrastructure is also a major challenge that may restrict the market growth.

Regional Snapshot

North America dominated the global home rehabilitation products and services market in 2020. The rising geriatric population in the US is boosting the market growth. According to the US Census Bureau, more than 20% of the US population will be over the age of 65 years by 2029. Furthermore, more than 16 million people in the US are suffering from a respiratory disorder, as per the CDC. Hence the rising case of COPD is a major factor that augments the demand for home rehabilitation products and services in North America. Furthermore, various factors such as increased adoption of advanced products, increased per capita healthcare expenditure, increased penetration of retail stores, and presence of strong healthcare infrastructure are the major drivers of the market.

Asia Pacific is estimated to be the most lucrative market during the forecast period owing to the surging geriatric population. According to the United Nations, around 80% of the global geriatric population is expected to be living in low and middle-income nations. Furthermore, the rising number of road traffic accidents may potentially drive the market demand. According to the WHO, around 93% of road traffic accident cases are recorded in the low and middle-income countries

Key Players in the Report

• Medline Industries
• Stryker Corporation
• Prism UK Medical Ltd.
• DJO Global
• Invacare Corporation
• Hocoma AG
• Ekso Bionics Holdings, Inc.
• RehabCare Group
• Performance Health, LLC.
• Active Medical & Rehabilitation Services Pvt. Ltd.

Market Segmentation

By Type

• Products
  • Body Support Devices
  • Positioning Devices
  • Wheelchairs
  • General Aids
  • Others
• Services
  • Physical Therapy
  • Speech Therapy
  • Respiratory Therapy
  • Occupational Therapy
  • Others

By Distribution Channel

• Offline Stores
• Online Stores

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