The key trend in the global rehab equipment market is physiotherapy due to aging population, increase in disabilities and usage of daily living aids for the proper and comfortable treatment of the patients.
It accelerates the recovery process of the patient. Over the last decade, there has been a considerable growth in the global rehab equipment market due to advancement in technology and government reforms such as long-term care insurance, 2000 in Japan.
It is expected to grow further during the forecast period (2017-2023) due to the entry of various private and government insurance players in the market. These players will provide reimbursement plans for the rehab equipment that will make these equipment more affordable.
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Hospitals & Clinics, rehabilitation centres, home care settings and physiotherapy centres are its end users. Due to increase investment on hospital infrastructure and high-quality treatment in hospitals, hospitals are the main contributor towards the growth of the global rehab equipment market.
Also, the other reasons for the growth of the global rehab equipment market are rise in non-communicable diseases, increase in sports injuries and rising chronic diseases.
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Companies are focusing on the technological advancements which is causing rapid growth of the market. The key factors which drive the growth of the global rehab equipment markets are positive government healthcare reforms, aging population and rise in chronic diseases, increase in disabilities due to non-communicable diseases, rise in disabled population and increasing sports injuries.
However, the cost of these equipments are high as well as the maintenance expenses too, are considerably high, which is restraining the global rehab equipment market. But such restraints are overcome by the insurance care provided by the government and private players.
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In August 2 2016, Compass Health Brands acquired the ProBasics brand from Invacare. ProBasics is a line of durable medical equipment (DME) which was an Invacare brand for home medical equipment providers that seeks quality DME products at a price supportable to the reimbursement environment.
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Other key players in global rehab equipment market are Medline Industries, Inc., Dynatronics Corporation, GMS Rehabilitation, Drive DeVilbiss Healthcare, Changzhou Qian Jing Rehabilitation Co., Ltd., Compass Health Brands, Roma Medical, Caremax Rehabilitation Equipment Co. Ltd., GF Health Products, Inc., and Hospital Equipment Manufacturing Company.
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