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Home Rehabilitation Products and Services Market

Home Rehabilitation Products and Services Market

Home Rehabilitation Products and Services Market Analysis By Product Type (Positioning Devices, Body Support Devices, General Aids, Wheelchairs) By Therapy (Physical, Occupational, Speech, Respiratory & Other Therapies) and By Region – Global Insights 2022 to 2026

Home Rehabilitation Products and Services Market
FACT7613MR
  • Aug-2022
  • List of Tables : 25
  • List of Figures : 132
  • 170 Pages
  • Healthcare

Home Rehabilitation Products and Services Market Outlook (2022-2026)

The global home rehabilitation products and services market stands at US$ 97 billion at present and is projected to reach a market valuation of US$ 125 billion by the end of 2026. Between 2022 and 2026, worldwide revenue from home rehabilitation products and services is predicted to increase rapidly at a CAGR of 6.5%.

Growing number of patients opting for home care and undergoing therapy procedures at home is expected to propel the demand for home rehabilitation products and services across the world over the coming years.

Report Attributes

Details

Home Rehabilitation Products and Services Market Size (2022)

US$ 97 Billion

Projected Year Value (2026F)

US$ 125 Billion

Global Market Growth Rate (2022-2026)

6.5% CAGR

China Market Value (2026F)

US$ 16 Billion

United States Market Value (2022)

US$ 38 Billion

Canada Market Growth Rate (2022-2026)

5% CAGR

Key Companies Profiled

  • Stryker Corporation
  • Performance Health
  • Hocoma AG
  • Ekso Bionics Holdings Inc.
  • ergoline GmbH
  • RehabCare
  • AliMed Inc.
  • Norco Inc.
  • Invacare Corporation
  • Prism Medical (subsidiary of Handicare Group AB)
  • DJO Global
  • Active Medical & Rehabilitation Services Pvt. Ltd.
  • LL CORPUS COGERE Inc.
  • Medline Industries Inc.a

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Revenue Analysis of Home Rehabilitation Products and Services (2017-2021) in Comparison to Market Forecasts (2022-2026)

Focus on healthcare and the rate of hospitalization has increased notably over the past few years and this trend is expected to get more prominent across the forecast period. From 2022 to 2026, the market for home rehabilitation products and services is projected to expand at a CAGR of 6.5% as per this new research survey by Fact.MR.

The rising elderly population, high prevalence of chronic diseases, increasing caseload on healthcare institutions, rising incidence of road accidents, rapid advancements in technology, increasing popularity of home care, and initiatives to boost awareness of rehabilitation equipment and therapies are expected to favor home rehabilitation products and services market potential through 2026.

However, the lack of awareness regarding advanced rehabilitation products is expected to restrain the home rehabilitation products and services market growth going forward.

Fact.MR, a market research and competitive intelligence provider, has listed a detailed analysis of the global home rehabilitation products and services industry landscape along with the latest innovations in the home rehabilitation products marketplace.

Home rehabilitation products and services market forecast by Fact.MR

What is the Outlook of the Home Rehabilitation Products and Services Market?

“Rising Popularity of Home Care across Regions”

The home care trend is picking up pace across the world and this trend is projected to be rife over the coming years as well. The increasing geriatric population and rising preference of patients to opt for home care are prime factors that are expected to drive the home rehabilitation products and services market potential across the forecast period.

Sales of home rehabilitation products and home therapy products are anticipated to witness a rise over the next four years as the popularity of the home care trend bolsters.

“Lack of Awareness about Advanced Rehabilitation Products”

Home rehabilitation products and services industry growth is anticipated to be hindered owing to a lack of awareness of advanced rehabilitation products among the general population.

Moreover, the lack of skilled technicians is also expected to have a constraining effect on the overall home rehabilitation products and services market growth over the next four years.

“Rising Geriatric Population”

The world is witnessing an increase in the aging population and this trend is expected to maintain a similar stance across the forecast period as well.

Countries such as Japan, the United States, and China are expected to witness a notable increase in the geriatric population and this is expected to favor home rehabilitation products and services market potential in these countries.

The geriatric population is more prone to diseases and requires prolonged medical care which is now generally being provided at home as the home care trend gains impetus.

An Adaptive Approach to Modern-day Research Needs

How Can New Market Entrants Penetrate the Home Rehabilitation Products and Services Industry?

“Start-ups Can Focus on Integration of Advanced Technologies with Rehabilitation Products & Services”

Upcoming market players are expected to focus on the integration of advanced technologies and product innovation to make a mark in the global home rehabilitation products and services industry landscape.

  • OneStep, a Tel Aviv-based startup, launched a fall risk detection solution using only a smartphone. The company offers a smart application that provides a complete gait analysis using only smartphone sensors and is capable of enhancing physical therapy patient outcomes.
  • A Wisconsin-based start-up – RehabPulse - focused on providing medical equipment at affordable prices, is also handling the insurance reimbursement for patients. The company has an online platform through which patients can order their rehabilitation equipment and manage their insurance claims as well.

Which Region is Highly Lucrative for Home Care Product Manufacturers?

“North America Expected to Be Rife with New Business Opportunities”

North America home rehabilitation products and services market is projected to witness high demand for home rehabilitation products owing to the increasing geriatric population and rising popularity of the home care trend. The presence of key home rehabilitation service providers in this region is also anticipated to favor home rehabilitation products and services market potential in this region.

This Fact.MR survey predicts the Canada home rehabilitation products and services market to expand at a CAGR of around 5% throughout the forecast period.

Increasing investments in the development of healthcare infrastructure and growing geriatric patient pool are expected to significantly propel the demand for home rehabilitation equipment in the region of Europe.

The Asia Pacific home rehabilitation products and services industry is projected to evolve at a steady pace owing to the increasing focus on healthcare infrastructure development and low costs of rehabilitation treatment as compared to outpatient treatments.

The untapped potential for the home care equipment industry in this region is expected to attract new market players and make this region a favorite for key players as well.

The economies of Japan, India, and China are anticipated to spearhead the home rehabilitation products and services market growth in this region across the forecast period. The demand for home rehabilitation products and services in Japan is slated to witness an increase at a 3.5% CAGR over the next four years.

Country-wise Insights

What Does This Home Rehabilitation Products Research Report Reveal About the U.S. Market?

“Presence of Developed Healthcare Infrastructure Complementing Demand for Home Rehabilitation Services”

The U.S. healthcare infrastructure is known across the world for its efficacy and advanced nature and this factor is expected to favor home rehabilitation products and services market growth over the coming years.

Increasing prevalence of chronic illnesses, growing aging population, early adoption of advanced technologies, and favorable reimbursement policies are projected to be other notable factors that propel shipments of home rehabilitation products in the United States.

Currently, the U.S. home rehabilitation products and services market accounts for a valuation of US$ 38 billion. Rehabilitation physiotherapy equipment is projected to witness a steady rise in demand in this country over the next four years.

Category-wise Insights

Which Product Type Will Majorly Contribute to Market Evolution?

“Body Support Devices & General Aids Leading Market Growth”

The global home rehabilitation products and services market based on product type is segmented into positioning devices, body support devices, general aids, wheelchairs, and other product types.

The increasing geriatric patient pool and rise in the number of people with disabilities are expected to prominently drive the demand for body support devices. The body support devices segment currently accounts for a market share of around 24% and is anticipated to exhibit evolution at an estimated CAGR of 5% throughout the forecast period.

The general aids segment is projected to attain a revenue total of US$ 25 billion by the end of 2026. The increasing incidence of road accidents resulting in disabilities is also projected to propel sales of wheelchairs over the next four years.

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Competitive Landscape :

Top home rehabilitation service providers are focusing on leveraging product innovation with the use of smart devices and other technologies.

  • In April 2022, Sony Group and its affiliate medical portal operator M3, announced the launch of a new smartphone application that gamifies rehabilitation for patients using Artificial Intelligence (AI). This service can be used with a wearable device and allows patients to recover their mobility after suffering from a stroke.
  • In April 2022, GrandCare, a leading name in home health services, announced the expansion of its business into in-home outpatient therapy. This is expected to provide patients with their outpatient therapy needs and expands GrandCare’s therapy services portfolio.

Key suppliers of home rehabilitation products are expected to focus on the development and launch of new wearable devices that could revolutionize the rehabilitation experience for patients.

  • Lusio Rehab, a U.K.-based assistive technology developer, in January 2022, announced the launch of its new wearable rehabilitation device. The new device motivates patients to engage with their physical therapy program and increases the rate of adherence to rehabilitation activities.

Home Rehabilitation Products and Services Industry Research Segmentation

  • By Product Type :

    • Positioning Devices
    • Body Support Devices
    • General Aids
    • Wheelchairs
    • Other Product Types
  • By Therapy :

    • Physical Therapies
    • Occupational Therapies
    • Speech Therapies
    • Respiratory Therapies
    • Other Therapies
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

- FAQs -

The global home rehabilitation products and services market stands at US$ 97 billion in 2022.
By 2026, the market for home rehabilitation products and services is expected to reach US$ 125 billion.
Revenue from home rehabilitation products and services is anticipated to increase at 6.5% CAGR through 2026.
The home rehabilitation products and services market in China is set to reach US$ 16 billion by 2026.
Demand for home rehabilitation products and services is slated to evolve at 3.5% CAGR.

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