Home Rehabilitation Products & Services Market Size Report, 2022-2030
The global home rehabilitation products & services market was estimated at USD 136.94 billion in 2020 and is expected to reach over USD 230.16 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 5.9% during the forecast period 2022 to 2030.
Growth Factors:
The home rehabilitation is gaining immense popularity among the patients across the globe. The major benefit associated with the growing preferences for the home rehabilitation products and services is the reduction in the burden on the hospitals. Furthermore, the rising popularity of the tele-rehabilitation is further fueling the demand among the global population. The consultants can offer consultations to their patients through online platforms that offer conveniences to the patients and hence its adoption is rising among the patients. The market is driven by the surging number of patients who are suffering from various chronic diseases and the growing geriatric population across the globe. Moreover, rising disposable income, growing healthcare infrastructure, rising health awareness, and increased consumer healthcare expenditure are among the prominent factors that boosts the growth of the market. Moreover, the rising number of patients suffering from disabilities and rising number of accidents on roads is expected to boost the demand for the home rehabilitation products and services across the globe.
The growing popularity of the wearable rehabilitation products like wearable robotic exoskeletons and rising adoption of latest technologies like virtual reality in the physiotherapies are expected to provide growth aspects to the market players in the forthcoming future. The old age people are prone to various orthopedic disorders that can foster the demand for the home rehabilitation products and services across the globe. According to the United Nations, there were around 382 million old age people, aged 60 years or above, across the globe in 2017 and this number is expected 2.1 billion by 2050. The patients are getting aware regarding the benefits of receiving rehabilitation services and products after undergoing orthopedic surgeries. Hence, the rising awareness regarding the availability of various rehabilitation products and services is anticipated to foster the growth of the global home rehabilitation products and services market.
Report Scope of the Home Rehabilitation Products and Services Market
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Report Coverage |
Details |
|
Market Size in 2020 |
USD 130 Billion |
|
Growth Rate From 2021 to 2030 |
CAGR of 5.9% |
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Revenue Projection By 2030 |
USD 230.16 Billion |
|
Largest Market |
North America |
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Fastest Growing Market |
Asia Pacific |
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Base Year |
2021 |
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Forecast Period |
2022 To 2030 |
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Segments Covered |
Type, Distribution Channel, Region |
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Companies Mentioned |
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. |
Home Rehabilitation Products and Services Market Share, By Type, 2020 (%)
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Type Segment |
2020 (%) |
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Product |
20% |
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Services |
80% |
Type Insights
Based on the type, the services segment dominated the global home rehabilitation products & services market in 2020, in terms of revenue. The increased awareness regarding the various therapies and increased adoption of the rehabilitation services owing to its benefits has significantly propelled the demand for the home rehabilitation services among the population. The various services such as speech therapy, physical therapy, and respiratory therapy have gained immense traction in the past. Moreover, the rising penetration of tele-rehabilitation platforms is expected to further fuel the growth of the segment in the forthcoming years.
On the other hand, the products segment is estimated to be the most opportunistic segment during the forecast period. This is attributable to the increasing awareness regarding advanced wearable devices and easy availability of such products. Moreover, rising number of orthopedic surgeries and rising expenditure on healthcare is estimated to boost the growth of the market in the upcoming years.
Distribution Channel Insights
Based on the distribution channel, the offline stores segment accounted largest revenue share in 2020. The increased penetration and increased popularity of the traditional retail stores is the most prominent factor that significantly contributed towards the growth of the offline stores segment in the past.
On the other hand, the online stores segment is expected to be the fastest-growing segment during the forecast period. This is attributable to the rising adoption of smartphones and growing penetration of internet across the globe. The convenient payment, home delivery options, and easy return and replacement offered by the online retailers of the home rehabilitation products is driving the market growth.
Region Insights
Based on region, North America dominated the global home rehabilitation products & services market in 2020, in terms of revenue and is estimated to sustain its dominance during the forecast period. North America is characterized by the increased adoption of advanced products, increased per capita healthcare expenditure, increased penetration of retail stores, and presence of strong healthcare infrastructure, which has significantly driven the market growth in the region. Moreover, rising geriatric population in 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 US are suffering from respiratory disorder, as per the CDC. This is a major factor that augmented the demand for the home rehabilitation products and services in North America.
On the other hand, Asia Pacific is estimated to be the most opportunistic market during the forecast period. Asia Pacific is expected to witness a rapid surge in the geriatric population in the forthcoming future. According to the United Nations, around 80% of the global geriatric population is expected to be living in the low and middle income nations. Furthermore, rising number of road traffic accidents may potentially drive the market demand. According to the WHO, around 93% of the road traffic accident cases are recorded in the low and middle income countries. These are the major factors that are expected to boost the market growth in this region.
Some of the prominent players in the Home Rehabilitation Products & Services Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
By Type
By Distribution Channel
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Points Covered in Home Rehabilitation Products & Services Market Study:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers