Major factors driving the growth of this market include favorable healthcare reforms, increasing incidence of disabilities resulting from non-communicable diseases and rising geriatric population coupled with the rising prevalence of chronic diseases. On the other hand, the high cost & maintenance expense of rehabilitation equipment are limiting the growth of the market to a certain extent.
The rehabilitation equipment market is categorized on the basis of type, application, end user, and region. Based on type, the market is categorized into mobility equipment, body support devices, exercise equipment, and daily living aids. The mobility equipment segment is projected to register the highest CAGR during the forecast period. The growth in this segment is attributed to the increasing the number of elderly people suffering from orthopedic impairments which is creating a demand for mobility equipment worldwide.
Based on application, the rehabilitation equipment market is divided into two segments physiotherapy and occupational therapy. The physiotherapy segment is projected to register the highest CAGR during the forecast period. The growth of this segment is majorly attributed to the increasing need for physiotherapy among the aging population & disabled patients and the implementation of favorable government policies.
In 2016, Europe accounted for the largest share of the market. However, North America is expected to grow at the highest CAGR during the forecast period. Factors such as the increasing incidence of lifestyle diseases, growth in geriatric population, and strict government regulations mandating the use of rehabilitation equipment are driving the growth of the North American rehabilitation equipment market.