The key players operating in the Rehabilitation Equipment Market include Baxter International (US), Invacare Corporation (US), Medline Industries LP (US), and Arjo (Sweden)
The global rehabilitation equipment market is projected to reach USD 19.8 billion by 2027 from USD 14.9 billion in 2022, at a CAGR of 5.9% during the forecast period. The growth of this market is primarily driven by the rising geriatric and obese population, increasing incidence of chronic diseases, high risk of injuries to caregivers during the manual handling of patients, and increasing demand for rehabilitation care with an expanding access to healthcare. However, a lack of awareness and access to rehabilitation services in emerging market is a major factor restraining the market growth.
The global rehabilitation equipment market is fragmented and marked by several small and large companies. Some of the major players in this market include Baxter International (US), Invacare Corporation (US), Medline Industries LP (US), and Arjo (Sweden). Most leading players in the market have a broad portfolio of rehabilitation equipment such as patient lifts, slings, medical beds, and wheelchairs. Players in the global rehabilitation equipment market have employed various strategies to expand their global footprint and increase their market share. These key strategies include product launches, partnerships, acquisitions, and expansions.
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Baxter International (US) (after acquiring Hillrom Holdings) dominated the rehabilitation equipment market in 2021. The company’s leading position can be attributed to its comprehensive suite of products and solutions used in the diagnosis, treatment, post-care, and monitoring of patients in hospitals, rehabilitation care and home care settings. The company’s has high focus on R&D in its Hillrom segment, which enables it to develop innovative products that suit the current market demands.
Invacare Corporation (US) is among the leading providers of rehabilitation equipment and is ranked at 2nd position in the rehabilitation equipment market. The company has a broad product portfolio, including powered wheelchairs, custom manual wheelchairs, and seating and positioning products. Invacare Corporation has a strong geographic footprint and markets its products in North America, Europe, and the Asia Pacific. The company aims to expand its global footprint and strengthen its marketing and manufacturing capabilities.
Related Reports:
Rehabilitation Equipment Market by Product (Medical Bed, Mobility Scooter, Walker, Crutcher, Cane, Patient Lift, Sling), Application (Physical, OT, Lower-body Exercise Equipment), End User (Rehabilitation & Physiotherapy Center) - Global Forecast to 2027
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