Pune, India, Feb. 11, 2021 (GLOBE NEWSWIRE) -- The global home rehabilitation products market is likely to expand considerably in the coming years due to recent product advancements. According to a report by Fortune Business Insights, titled “Home Rehabilitation Products Market Size, Share and Global Trend By Product Type (Wheelchairs, General Aids, Body Support Devices, Positioning Devices), By Therapy Type (Physical Therapy, Occupational Therapy , Speech Therapy, Vision Therapy, Psychological Therapy, Aquatic Therapy, Music Therapy), By Patient Type (Adult, Pediatric), and Geography Forecast till 2026,” the market will derive growth from the rising demand for home rehabilitation products and services.
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The ability of home rehabilitation products to restore and repair the physical and sensory abilities of the patient, resulting from chronic diseases and other injuries have created a huge demand across the world. Factors such as increased patient comfort and reduced treatment costs have led to a rising adoption of home rehabilitation products around the world. As a result, the integration of concepts such as robotics and automation has enabled facilitated launch of technologically advanced products, which in turn will favor growth of the global home rehabilitation products market in the coming years. The adoption of home rehabilitation products has provided several patient comfort benefits such as elimination of hospital visits and hospital stays. The report encompasses several factors that have constituted an increase in the global home rehabilitation market value in recent years.
Asia Pacific Holds Massive Growth Potential
The growing trend of adopting modern concepts in healthcare services and products has created various opportunities for generating home rehabilitation market revenue for companies based in North America. Fortune Business Insights states that North America has dominated the global home rehabilitation products market in recent years. Furthermore, rising adoption of assistive technologies such as ocular devices, wheelchairs, hearing aids, and other such devices will favor growth of the home rehabilitation market in North America. Having said that, the developing healthcare infrastructure, reduced treatment costs, and improving patient outcomes will drive the home rehabilitation products market in the Asia Pacific. Fortune Business Insights has predicted that the home rehabilitation products market in Asia Pacific will witness considerable growth in the coming years due to the aforementioned factors.
Fortune Business Insights profiles some of the prominent home rehabilitation market companies of recent years. Some of the leading companies that have contributed to the home rehabilitation market growth in recent years are Stryker, Invacare Corporation, Hocoma, AliMed, Inc., Active Medical & Rehabilitation Services, ergoline GmbH, Medline Industries, Inc., DJO Global, Inc., Prism Medical UK, Performance Health, and Reflexion Health.
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Top Key Players Covered:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the global Home Rehabilitation Products market are;
- Stryker
- Invacare Corporation
- Hocoma, AliMed, Inc.,
- Active Medical & Rehabilitation Services
- ergoline GmbH
- Medline Industries, Inc.
- DJO Global, Inc.
- Prism Medical UK
- Performance Health
- Reflexion Health
Rapid adoption of digitalization among practitioners and patients is likely to fuel the demand in the global Home Rehabilitation Products market. Additionally, increasing per capita income and rising living standards is expected to drive the global Home Rehabilitation Products market during the forecast period 2018-2025.
However, high cost associated with the devices and lack of skilled professional to operate the system are a few factors that may hamper the growth in the global Home Rehabilitation Products market.
As stated in the report North America holds a significant share in the market. The trend is unlikely to change and North America may continue holding its position. The growth witnessed is attributable to high presence of key developers in nations such as Canada and U.S.
Growing Demand Will Churn Out Numerous FDA Approvals in the Coming Years
The increasing demand for home rehabilitation products has led to a growing emphasis on the development of efficient products in recent years. Fortune Business Insights has predicted that the escalating demand for home rehabilitation products and services will prove a chief growth stimulator during the forecast period. In 2018, Reflexion announced the launch of a device, aimed at the betterment of post-operative care physical therapy. The ‘VERAHome’ and ‘VERAClinic’ have set exceptional platforms for enhancing the process and management of home rehabilitation products. The company also announced that the device received usage clearance from the Food and Drug Administration. Fortune Business Insights predicts that Reflexion’s latest products will enable home rehabilitation market growth on a global scale, considering the fact that Reflexion has a strong global brand. The report includes regulatory clearances of several new products and gauges the impact of these products on the global home rehabilitation market.
Key Segmentation:
By Product Type
- Wheelchairs
- General Aids
- Body Support Devices
- Positioning Devices
By Therapy Type
- Physical Therapy
- Occupational Therapy
- Speech Therapy
- Vision Therapy
- Psychological Therapy
- Aquatic Therapy
- Music Therapy
The analysis conducted in the report is based on industry leading tools and techniques. The report prepared by Fortune Business Insights, offers innovative strategies based on various analysis. The information offered is collected from reliable primary and secondary sources. The report also provides information about key companies operating in the market.
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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