Market Overview:
North America Rehabilitation Equipment market estimated at USD 4.06 Billion in the year 2022, is projected to reach a revised size of USD 6.09 Billion by 2030, growing at a CAGR of 5.2% over the analysis period 2023-2030.
Rehabilitation refers to the care required when a person is experiencing or is likely to experience limitations in daily functioning as a result of aging or a health condition, such as chronic diseases or disorders, injuries, or trauma.Rehabilitation is defined by the World Health Organization (WHO) as "a set of interventions designed to optimize functioning and reduce disability in individuals with health conditions interacting with their environment." Furthermore, rehabilitation is now regarded as an urgent and growing global issue. The global population is aging, and the number of people suffering from non-communicable diseases is rising. According to World Bank Data, 17% of the total population in the North American region was 65 years old or over in 2021 which is estimated to reach 19.6% and 22.6% by 2027 and 2050 respectively. For Mexico, the stats stood at 9.3% in 2027 and 17% in 2050.
Top Key Players in North America Rehabilitation Equipment Market:
Caremax Rehabilitation Equipment Co., Ltd., Carex Health Brands, Inc., DJO North America Inc. (Colfax Corporation), Drive DeVilbiss Healthcare LLC, Dynatronics Corporation, Ekso Bionics Holdings Inc., GF Health Products Inc., Hill-Rom Services Inc., Baxter International, Invacare Corporation, Joerns Healthcare LLC, Medline Industries, Inc., Roma Medical Aids Ltd., and Other Major Players.
Market Dynamics and Factors for the North America Rehabilitation Equipment Market:
Drivers:
Increasing Burden of Non-Communicable Disorders Such as Heart Attack
Heart disease is the leading cause of death in the United States for people of most racial and ethnic groups, including African Americans, American Indians, Alaska Natives, Hispanics, and white men. Heart disease is the second leading cause of death in Pacific Islander women, as well as Asian American, American Indian, Alaska Native, and Hispanic women. In the United States, one person dies from cardiovascular disease every 34 seconds. In 2020, approximately 697,000 people in the United States died from heart disease, accounting for one out of every five deaths. Additionally, a heart attack occurs every 40 seconds in the United States. Every year, approximately 805,000 people in the United States suffer from a heart attack.
Opportunities:
The Rise in The Number of Road Accidents and Neurological Disorders
Common conditions, such as Spinal Cord Injury, Stroke, Multiple Sclerosis, and Parkinson's, can cause varying degrees of spasticity, muscle weakness, impaired coordination and balance, and difficulty speaking and swallowing. Individuals with a neurological condition have a high chance of recovery in both the early and late stages of rehabilitation after an injury. New rehabilitation approaches, alone or in combination with pharmacological intervention, could improve the recovery process. For instance, rehabilitation of movement after a stroke necessitates repeated practice as well as learning and brain changes
Segmentation Analysis of the North America Rehabilitation Equipment Market:
By Application, the physical therapy segment is expected to dominate the North American Rehabilitation market in the projected period. Physical therapists are movement experts who improve people's quality of life by prescribing exercise, providing hands-on care, and educating patients.
By End User, the hospitals and clinics segment is estimated to account for the largest share of the rehabilitation equipment market. Medical beds, slings, hoists, and bathroom and toilet assist devices are examples of common rehabilitation equipment used in hospitals.
Regional Analysis of the North America Rehabilitation Equipment Market:
The United States of America is the major country driving the development of the North American rehabilitation equipment market. The rising prevalence of age-related disorders like dementia, Alzheimer's, and osteoporosis has increased the demand for bathroom and toilet assistance devices. The risk of paralysis is increasing as the incidence of stroke, spinal cord injury, and multiple sclerosis rises.
Key Industry Development:
In March 2022, Medline Industries, LP (US) declared a USD 725 million prime vendor partnership with Mount Sinai Health System (US), to enhance their supply chain strategy and enhance patient outcomes.
In February 2021, the company Rehabs Near Me launched a 24*7 service to assist people in the United States looking for rehab centers.
