Tele-rehabilitation Reducing Burden on Healthcare Professionals amid Coronavirus Crisis
The home-based rehabilitation has emerged as one of the supportive programs during the coronavirus pandemic, which is reducing the burden on healthcare professionals in hospitals. Companies in the home rehabilitation products & services market are expanding their supply chains through eCommerce and online pharmacies to keep economies running during the pandemic.
Tele-rehabilitation and e-health are becoming a fast growing phenomenon in the home rehabilitation products & services market. Success rates are increasing with the help of tele-rehab, since this technique is gaining popularity as an accessible and cost-effective method to improve patient quality of life. Tele-rehab is helping to increase subject engagement and deploy communication between remote patients and specialists. This trend has the potential to allow better access to rehab care, especially for orthopedic patients. Tele-rehab is demonstrated as a considerable substitute for clinic-based rehab for common musculoskeletal pain.
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VR Emerging as Game Changer for Increasing Patient Care Engagement
Privacy, minimization of stress level, and reduced rate of hospital re-admission are some of the advantages of home-based rehabilitation. However, rehab products and services cannot entirely replace in-person consultations. This increases risk about patient safety and the lack of supporting infrastructure, including life-sustaining and assistive durable medical equipment (DME). Hence, companies in the home rehabilitation products & services market are increasing their R&D capabilities to innovate in robust support equipment.
The home rehabilitation products & services market is estimated to clock a favorable CAGR of ~7% during the assessment period. Companies should tap into incremental opportunities in virtual reality (VR) and innovate in at-home exercise programs to meet patient needs. Patients training to walk correctly can envision crossing a finish line using VR games. The hybrid virtual practices are helping to keep patients engaged in their care and reduce burden on caregivers.
Next-gen Wearable Sensors Automatically Save Data for Further Patient Analysis
Wearable sensors combined with software are allowing patients to perform exercises in a motivated and correct form. Italian company CoRehab is introducing its Riablo System, which is a wearable sensor used for rehabilitation with neurological, sports, and orthopedic patients of all ages. Such wearable sensors are being highly publicized for ensuring a more effective and fast recovery in patients. The companies in the home rehabilitation products & services market are taking cues from such innovations to develop inertial sensors that help to evaluate the results of each exercise and automatically save data for digital reports & further analysis.
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Med-tech companies and startups in the home rehabilitation products & services market are innovating in wearable sensors that enable patients to perform exercises with biofeedback and acquire a functional range of motion. Exoskeletons and smart gloves are among other devices gaining increased popularity.
Wearable Modular Robotic Exoskeletons Devices Improve Rehabilitation of Limbs
The exoskeletons are being used as a tool to augment a physical rehab program that provides automated measurements of a patient’s progress and allows free movement for people with disabilities in a comfortable & safe form. The Ukrainian startup UniExo is gaining recognition for its wearable modular robotic exoskeletons devices that improve the rehabilitation of limbs. The companies in the home rehabilitation products & services market are innovating in devices that detect body position, and with the help of robotic algorithms, make a rehabilitation program under the remote supervision of a doctor.
The COVID-19 pandemic has sparked an interest in virtual reality with the help of at-home exercise programs to meet the convenience of patients. The home rehabilitation products & services market is expected to reach US$ 265 Bn by the end of 2031. However, the lack of evidence about implementation modalities such as TENS (Transcutaneous Electrical Nerve Stimulation) and home-based physiotherapy are inhibiting market growth. Hence, companies should increase their research studies in these areas to make improvements in TENS and home-based physiotherapy programs. Smart gloves are helping people who sufferred from a stroke to regain control of their hands.
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Home Rehabilitation Products & Services Market: Overview
According to Transparency Market Research’s latest research report on the global home rehabilitation products & services market for the historical period of 2017–2019 and the forecast period of 2020–2031, rise in prevalence of chronic diseases, surge in population with disabilities, and increase in baby boomers are projected to drive the global home rehabilitation products & services market from 2021 to 2031
According to the report, the global home rehabilitation products & services market was valued at ~US$ 130 Bn in 2020 and is anticipated to expand at a CAGR of ~7% during the forecast period
Key Drivers of Home Rehabilitation Products & Services Market
Rise in Prevalence of Chronic Diseases
Chronic medical conditions such as high blood pressure and diabetes, along with cardiovascular and respiratory diseases require regular and continuous monitoring. Increase in the number of people diagnosed with chronic diseases drives demand for home healthcare medical devices and services, which, in turn, is projected to boost demand for rehabilitation equipment.
The American Diabetes Association estimated that one in every three adults in the U.S. will have diabetes by 2050
According to the WHO, COPD is the fourth leading cause of death across the world. Nearly 2.75 million people succumb to it every year. COPD is likely to be the third leading cause of death by 2030. According to the CDC, over 16 million people in the U.S. are living with respiratory disorders such as lung cancer, COPD, and heart diseases caused due to smoking.
Rise in number of people diagnosed with chronic conditions increases the uptake of various home care medical solutions such as rehabilitation products, body support devices, and mobility assistive devices. A report published by the Annals of Internal Medicine in 2013 stated that continuous monitoring of diseases with home medical devices provides a more accurate picture of chronic conditions rather than relying on repetitive hospital visits. Hence, rise in prevalence of chronic diseases is expected to increase the uptake of home healthcare devices and services, which, in turn, is likely to fuel the growth of the global home rehabilitation products & services market.
Increase in Number of Baby Boomers
Recent advancements in medical science have led to an increase in life expectancy of people, with more number of people exceeding the average age of 50 years. Changing demographics and increase in the geriatric population are shifting a substantial population to the high illness categories that require continuous medical interventions. Surge in the global geriatric population and changing lifestyles are the common risk factors associated with the development of chronic diseases.
According to the United Nations, the number of people aged 60 years and above is likely to increase from 841 million in 2013 to over 2 billion by 2050. According to the U.S. Census Bureau, in 2011, the baby boomers began turning 65 years of age and by 2029 over 20% of the U.S. population will be over 65 years of age.
The geriatric patient base would require repeated hospitalization. Hence, increase in the geriatric population and baby boomers is expected to drive demand for medical services at home, including rehabilitation services. This is likely to fuel the growth of the global home rehabilitation products and services market.
Surge in Population with Disabilities
Increase in number of persons with disabilities drives demand for rehabilitation products as well as services provided by rehabilitation service providers at home
In Asia Pacific, 690 million men, women, and children have some form of disability. The number is expected to rise over the next few decades, due to population aging, natural disasters, chronic health conditions, road traffic injuries, poor working conditions, and other factors. Despite constant increase in the number, persons with disabilities tend to be unseen, unheard, and uncounted.
Number of disabled persons is directly proportional to the sales of rehabilitation products & services. Moreover, patients prefer rehabilitation therapies at home due to the inability to travel to hospitals. This propels demand for home rehabilitation products & services.
Home Rehabilitation Products & Services Market: Competition Landscape
This report profiles major players operating in the global home rehabilitation products & services market based on various attributes such as company overview, financial overview, products portfolio, business strategies, and recent developments
The global home rehabilitation products & services market is moderately fragmented, with the presence of a large number of leading players in the global market and several small players in regional markets. The top players hold major share of the global home rehabilitation products & services market.
Prominent players operating in the global home rehabilitation products & services market include
- Stryker Corporation
- Prism Medical (subsidiary of Handicare Group AB)
- Invacare Corporation
- DJO Global
- Hocoma AG
- Ekso Bionics Holdings, Inc.
- AliMed, Inc.
- Active Medical & Rehabilitation Services Pvt. Ltd.
- ergoline GmbH
- Performance Health
- Medline Industries, Inc.
The report on the global home rehabilitation products & services market discusses individual strategies, followed by company profiles of providers of rehabilitation products & services. The competition landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global home rehabilitation products & services market.
Key Questions Answered in Home Rehabilitation Products & Services Market Report
- What is the scope of growth of home rehabilitation products & services and providers in the global home rehabilitation products & services market and its segments?
- What will be the Y-o-Y growth of the global home rehabilitation products & services market between 2020 and 2030?
- What is the influence of changing trends in technologies on the global home rehabilitation products & services market?
- Will North America continue to be the most profitable market for home rehabilitation products & services providers?
- Which factors will hamper the growth of the global home rehabilitation products & services market during the forecast period?
- Which are the leading companies in the global home rehabilitation products & services market?
Home Rehabilitation Products & Services Market – Segmentation
- Product Type
- Physical Therapy
- Occupational Therapy
- Speech Therapy
- Respiratory Therapy
- Other Therapies
- Positioning Devices
- Body Support Devices
- General Aids
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
TABLE OF CONTENT
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Home Rehabilitation Products & Services Market
4. Market Overview
4.1.1. Product Type Definition
4.1.2. Industry Evolution / Developments
4.3. Market Dynamics
4.4. Global Home Rehabilitation Products & Services Market Analysis and Forecast, 2017–2031
4.4.1. Market Revenue Projections (US$ Mn)
5. Key Insights
5.1. Regulatory Scenario, by Region/globally
5.2. Technological Advancements
5.3. COVID-19 Pandemics Impact on Industry (value chain and short / mid / long term impact)
6. Global Home Rehabilitation Products & Services Market Analysis and Forecast, by Product Type
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Market Value Forecast, by Product Type, 2017–2031
184.108.40.206. Physical Therapy
220.127.116.11. Occupational Therapy
18.104.22.168. Speech Therapy
22.214.171.124. Respiratory Therapy
126.96.36.199. Other Therapies
188.8.131.52. Positioning Devices
184.108.40.206. Body Support Devices
220.127.116.11. General Aids
6.4. Market Attractiveness Analysis, by Product Type
7. Global Home Rehabilitation Products & Services Market Analysis and Forecast, by Region
7.1. Key Findings
7.2. Market Value Forecast, by Region
7.2.1. North America
7.2.3. Asia Pacific
7.2.4. Latin America
7.2.5. Middle East & Africa
7.3. Market Attractiveness Analysis, by Country/Region
8. North America Home Rehabilitation Products & Services Market Analysis and Forecast
8.1.1. Key Findings
8.2. Market Value Forecast, by Product Type, 2017–2031
18.104.22.168. Physical Therapy
22.214.171.124. Occupational Therapy
126.96.36.199. Speech Therapy
188.8.131.52. Respiratory Therapy
184.108.40.206. Other Therapies
220.127.116.11. Positioning Devices
18.104.22.168. Body Support Devices
22.214.171.124. General Aids
8.3. Market Value Forecast, by Country, 2017–2031
8.4. Market Attractiveness Analysis
8.4.1. By Product Type
8.4.2. By Country
9. Europe Home Rehabilitation Products & Services Market Analysis and Forecast
9.1.1. Key Findings
9.2. Market Value Forecast, by Product Type, 2017–2031
126.96.36.199. Physical Therapy
188.8.131.52. Occupational Therapy
184.108.40.206. Speech Therapy
220.127.116.11. Respiratory Therapy
18.104.22.168. Other Therapies
22.214.171.124. Positioning Devices
126.96.36.199. Body Support Devices
188.8.131.52. General Aids
9.3. Market Value Forecast, by Country/Sub-region, 2017–2031
9.3.6. Rest of Europe
9.4. Market Attractiveness Analysis
9.4.1. By Product Type
9.4.2. By Country/Sub-region
10. Asia Pacific Home Rehabilitation Products & Services Market Analysis and Forecast
10.1.1. Key Findings
10.2. Market Value Forecast, by Product Type, 2017–2031
10.2.1.1. Physical Therapy
10.2.1.2. Occupational Therapy
10.2.1.3. Speech Therapy
10.2.1.4. Respiratory Therapy
10.2.1.5. Other Therapies
10.2.2.1. Positioning Devices
10.2.2.2. Body Support Devices
10.2.2.3. General Aids
10.3. Market Value Forecast, by Country/Sub-region, 2017–2031
10.3.4. Australia & New Zealand
10.3.5. Rest of Asia Pacific
10.4. Market Attractiveness Analysis
10.4.1. By Product Type
10.4.2. By Country/Sub-region
11. Latin America Home Rehabilitation Products & Services Market Analysis and Forecast
11.1.1. Key Findings
11.2. Market Value Forecast, by Product Type, 2017–2031
184.108.40.206. Physical Therapy
220.127.116.11. Occupational Therapy
18.104.22.168. Speech Therapy
22.214.171.124. Respiratory Therapy
126.96.36.199. Other Therapies
188.8.131.52. Positioning Devices
184.108.40.206. Body Support Devices
220.127.116.11. General Aids
11.3. Market Value Forecast, by Country/Sub-region, 2017–2031
11.3.3. Rest of Latin America
11.4. Market Attractiveness Analysis
11.4.1. By Product Type
11.4.2. By Country/Sub-region
12. Middle East & Africa Home Rehabilitation Products & Services Market Analysis and Forecast
12.1.1. Key Findings
12.2. Market Value Forecast, by Product Type, 2017–2031
18.104.22.168. Physical Therapy
22.214.171.124. Occupational Therapy
126.96.36.199. Speech Therapy
188.8.131.52. Respiratory Therapy
184.108.40.206. Other Therapies
220.127.116.11. Positioning Devices
18.104.22.168. Body Support Devices
22.214.171.124. General Aids
12.3. Market Value Forecast, by Country/Sub-region, 2017–2031
12.3.1. GCC Countries
12.3.2. South Africa
12.3.3. Rest of Middle East & Africa
12.4. Market Attractiveness Analysis
12.4.1. By Product Type
12.4.2. By Country/Sub-region
13. Competition Landscape
13.1. Market Player – Competition Matrix (by tier and size of companies)
13.2. Market Share Analysis, by Company, 2020
13.3. Company Profiles
13.3.1. Stryker Corporation
126.96.36.199. Company Overview
188.8.131.52. Company Financials
184.108.40.206. Growth Strategies
220.127.116.11. SWOT Analysis
13.3.2. Prism Medical (subsidiary of Handicare Group AB)
18.104.22.168. Company Overview
22.214.171.124. Company Financials
126.96.36.199. Growth Strategies
188.8.131.52. SWOT Analysis
13.3.3. Invacare Corporation
184.108.40.206. Company Overview
220.127.116.11. Company Financials
18.104.22.168. Growth Strategies
22.214.171.124. SWOT Analysis
13.3.4. DJO Global
126.96.36.199. Company Overview
188.8.131.52. Company Financials
184.108.40.206. Growth Strategies
220.127.116.11. SWOT Analysis
13.3.5. Hocoma AG
18.104.22.168. Company Overview
22.214.171.124. Company Financials
126.96.36.199. Growth Strategies
188.8.131.52. SWOT Analysis
13.3.6. Ekso Bionics Holdings, Inc.
184.108.40.206. Company Overview
220.127.116.11. Company Financials
18.104.22.168. Growth Strategies
22.214.171.124. SWOT Analysis
126.96.36.199. Company Overview
188.8.131.52. Company Financials
184.108.40.206. Growth Strategies
220.127.116.11. SWOT Analysis
13.3.8. AliMed, Inc.
18.104.22.168. Company Overview
22.214.171.124. Company Financials
126.96.36.199. Growth Strategies
188.8.131.52. SWOT Analysis
13.3.9. Active Medical & Rehabilitation Services Pvt. Ltd.
184.108.40.206. Company Overview
220.127.116.11. Company Financials
18.104.22.168. Growth Strategies
22.214.171.124. SWOT Analysis
13.3.10. ergoline GmbH
126.96.36.199. Company Overview
188.8.131.52. Company Financials
184.108.40.206. Growth Strategies
220.127.116.11. SWOT Analysis
13.3.11. Performance Health
18.104.22.168. Company Overview
22.214.171.124. Company Financials
126.96.36.199. Growth Strategies
188.8.131.52. SWOT Analysis
13.3.12. Medline Industries, Inc.
184.108.40.206. Company Overview
220.127.116.11. Company Financials
18.104.22.168. Growth Strategies
22.214.171.124. SWOT Analysis
13.3.13. Other Prominent Key Players
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