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Press Release

Home Rehabilitation Products and Services Market - Increasing Cases of Physical Handicap to Propel Market Demand

This press release was orginally distributed by SBWire

Albany, NY -- (SBWIRE) -- 04/12/2019 -- Rehabilitation programs help patients improve, maintain, and restore physical strength and mobility in institutional and home care settings. The global home rehabilitation products & services market was valued at US$ 88,484.0 Mn in 2017 and is anticipated to expand at a CAGR of more than 7.0% from 2018 to 2026 to reach US$ 161,743.4 Mn by 2026. Increase in prevalence of chronic diseases and rise in the number of people with disabilities are likely to drive the global home rehabilitation products & services market during forecast period.

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Rehabilitation programs are measures that help people suffering from disabilities by improving, maintaining, and restoring physical strength and mobility. Rise in geriatric population, growth in prevalence of chronic diseases, technological advancement, increase in life expectancy, and escalation in number of individuals with disabilities are driving the global rehabilitation products & services market. The global home rehabilitation products and services market is highly unorganized, fragmented, and competitive. This creates stagnation and paves the way for growth opportunities for existing players as well as new entrants. However, high cost of rehabilitation services and lack of appropriate health insurance schemes in developing nations are anticipated to hamper the home rehabilitation products and services market.

Health care is of utmost importance for all; however, not every patient can have access to therapy facilities or visit a physician. Consequently, the home rehabilitation products and services market is flourishing. Geriatric population is the primary target group of the market. Home rehabilitation products and services are gaining further traction due to the increase in prevalence of several long-term disorders such as diabetes and cardiovascular diseases. Rise in percentage of global geriatric population, increase in prevalence of chronic diseases, significant growth in disposable income of urban population in various emerging economies, and surge in number of individuals with disabilities are some of the key factors boosting the demand for home rehabilitation products and services. On the other hand, high cost of these products and rehabilitation services, poor reimbursement policies, and lack of proper health insurance policies in various emerging economies are hindering the market.

The global home rehabilitation products & services market has been segmented based on type (products & services) and geography. In terms of type, the home rehabilitation products and services market has been divided into positioning devices, general aids, body support devices, wheelchairs, and others (walkers, canes, crutches, arm and shoulder slings, etc.). Wheelchairs accounted for the largest share of the market in 2017. It is also expected to expand at the fastest CAGR during the forecast period. Increase in incidences of mobility disabilities and global rise in geriatric population are the major factors driving the home rehabilitation products & services market. In addition, being the oldest product type available in the market and the trust factor associated with it also led to its increased demand of wheelchairs especially among geriatric users.

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Based on services, the global home rehabilitation products & services market has been segregated into physical therapy, occupational therapy, speech therapy, respiratory therapy, and others (drug rehabilitation, balance therapy, aquatic therapy, etc.). The physical therapy segment held the largest share of the home rehabilitation products & services market in terms of revenue in 2017. Increase in mobility-related injuries, growth in geriatric population, neck and back pain, postural dysfunction, and sports injuries are the key factors attributed to the leading position of the segment. The physical therapy segment is also anticipated to expand at the fastest CAGR during the forecast period due to the rise in geriatric population, as older individuals are more vulnerable to strokes, heart attacks, mobility-related injuries, and other chronic and debilitating conditions that require physical therapy for rehabilitation.

Geographically, North America captured significant share of the global home rehabilitation products & services market in 2017 owing to the rise in prevalence of chronic diseases, increase in geriatric population, surge in number of surgical procedures, higher access to health care, rise in incidence of respiratory infections, availability of various reimbursement policies from public and private health insurance firms, and increase in treatment cost at hospital in the region. According to the American Lung Association, 11 million people in the U.S. were diagnosed with COPD in 2015. COPD is a highly prevalent cause of death in the U.S. Thus, demand for various rehabilitation services is anticipated to rise during the forecast period. However, Asia Pacific is anticipated to witness the highest growth during the forecast period due to the high prevalence of mobility related injuries, burn injuries, strokes, and neck and back pain; presence of large base of geriatric population; and improvement in health care infrastructure in the region.

The global home rehabilitation products and services market is fragmented due to the presence of numerous established as well as emerging players. Prominent companies operating in the home rehabilitation products and services market include Stryker Corporation, Prism Medical (subsidiary of Handicare Group AB), Invacare Corporation, DJO Global, Hocoma AG, Ekso Bionics Holdings, Inc., RehabCare, AliMed, Inc., Active Medical & Rehabilitation Services Pvt. Ltd., ergoline GmbH, Performance Health (formerly Patterson Medical), and Medline Industries, Inc.

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