Rehabilitation Services Market Size  (2024 - 2030)

Global Rehabilitation Services Market was valued at USD 7.26 billion and is projected to reach a market size of USD 11.43 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 6.7%.. Increasing number of old people around the world and new technological advancements is the major factor driving the industry's growth.

Industry Overview:

Medical rehabilitation is one-of-a-kind healthcare provider that helps sufferers to regain their physical, mental, and cognitive abilities. Rehabilitation offerings assist people to return to their everyday lifestyles to live. These offerings encompass quite a number kinds of remedies such as occupational therapy, speech, and language therapy, cognitive therapy, and bodily therapy. The occupational remedy is used to restore a person’s intellectual and bodily country so that character can function everyday things occupational remedy treats a variety of troubles such as decreased higher physique strength, impaired exceptional motor skills, decreased coordination, cognitive impairments, safety concerns, and impaired overall performance in self-care and neighborhood reintegration.

MARKET DRIVERS:

Increasing Number of Old People around the World and new technological advancements are driving the growth of the market

The rising populace going closer to the historical age and the growing disabilities related to the historical age are boosting the Rehabilitation Services Market growth. The foremost motive of disabilities in historical age is the lack of lubricative fabric in the bone joint such as hyaluronic acid or hyaluronan (HA), lubricin, and surface-active phospholipids which are basically observed low in volume amongst humans aged above 60. Rising instances of necessary ailments like CVD, most cancers, and neurological ailments around the world, alongside growing instances of sufferers with disabilities, create a boom possibility for the world Rehabilitation Services Industry. Also, primary international locations and healthcare businesses around the world are focusing on higher healthcare infrastructure and lookup at traits for higher prognosis and treatment.

MARKET RESTRAINTS:

High cost is restraining the growth of the market

Most of the world's populace is dwelling in the middle-income group, as per statistics launched via Oxfam, a world community of charitable organizations, over a quarter of a billion human beings will be pushed into poverty in 2022. Such elements stored most of the populace away from healthcare offerings which may additionally preclude the Rehabilitation Services Industry increase over the forecast period.

REHABILITATION SERVICE MARKET REPORT COVERAGE:

Segmentation Analysis

Rehabilitation Services Market - By Application:

• Physical Operational Therapy

• Lower-body Exercise Equipment

• Daily Living aids

• Mobility Equipment

• Body Support Device

• Others

Based on the application, The Mobility Equipment section held a dominant market share in 2022, owing to the growing disabilities throughout the globe. According to the World Health Organization (WHO) record (on Road Traffic Injuries) posted in June 2022, about 1.3 million peoples die in avenue accidents, and greater than 90% of street site visitor deaths manifest in low and middle-income countries. Also, 50 million extra human beings go through non-fatal injuries, with many incurring an incapacity as an end result of their injury.

However, Daily Living aids are estimated to develop with the quickest CAGR of 6.5% over the forecast period of 2023-2028. These each day dwelling aids are essential for everyday use for people with disabilities and useful in day-by-day activities. Equipment such as bathing aids, on-foot frames, mattress levers, restroom frames, stair lifts, clinic beds, hoists, and others are indispensable for everyday life.

Rehabilitation Services Market - By End-Use:

• Hospitals and Clinics

• Rehab Centers

• Homecare Settings

• Physiotherapy Centers

Based on the End-Use, the Physiotherapy section held a dominant market share in 2022. This is owing to the increasing want for physiotherapy using the aged populace and the human beings getting better from foremost accidents or surgery. According to the lookup paper posted in July 2020 by means of National Center for Biotechnology Information, 310 million primary surgical procedures are carried out every year. Around forty to 50 million are accomplished in the U.S.A. and 20 million are executed in Europe.

Such growing instances of surgical procedures and the growing quantity of the aged population power the increase of the Rehabilitation Services Market Share. However, Occupational Therapy is estimated to develop with the quickest CAGR price of 6.2% all through the forecast length of 2023-2028. The motives are its attributes that focal point on enhancing the patients' competencies to cross their physique with occupational-based activity, purposeful recreation, and preparatory methods. The occupational remedy is in general used in predominant ailments for post-stroke management, for sufferers with Parkinson’s ailment, and others.

Rehabilitation Services Market - By Region:

• North America

• Europe

• Asia-Pacific

• Latin America

• The Middle East

• Africa

Geographically, North America held a dominant market share of 40% in the year 2022. This is the end result of the developed healthcare infrastructure in the region. Also, the growing incidence of non-communicable illnesses like cancer, cardiovascular disease, diabetes, arthritis and Parkinson’s are unexpectedly developing in this region. Such a growing range of persistent ailments and disabilities in this location fuels the increase of the Rehabilitation Services Market share.

Furthermore, Asia-Pacific is estimated to develop with the quickest CAGR charge of 7.1% over the forecast length of 2023-2028, owing to the rising healthcare tendencies in this region. Also, a range of government insurance policies and developing lookups & trends through key market gamers assist the market growth. Also, the growing wide variety of sufferers with disabilities expanded public and personal reimbursement infrastructure, the developing range of doctors, and the fast adoption of new products are predicted to force the boom of the Rehabilitation Services Market Share in this location throughout the forecast period.

Rehabilitation Services Market Share by Company

1. Smart Speech Therapy (U.S.)

2. Therapy Solutions (U.S.)

3. Benchmark Therapies (U.S.)

4. Speed Pathology (Australia)

5. Priory (U.K.)

6. Bellefleur Physiotherapy (Canada)

7. SuVitas (India)

8. LifeStance Health Inc. (U.S.)

9. FYZICAL (U.S.)

10. Sutter Health (U.S.)

These businesses are increasing extensively due to ongoing product innovation supported by way of the rapid uptake of modern technologies. In order to feature in the market area effectively, rising companies in the region are focusing on vertical integration of their operations. They are additionally working with familiar manufacturers to enhance their global company presence. Large groups are spending on R&D things to do to create revolutionary items and amplify the utility areas for their products. In addition, the corporations have used other techniques to develop such as mergers and acquisitions.

COVID-19 impact on the Rehabilitation Services Market

COVID-19 is an infectious ailment caused by the novel coronavirus. Largely unknown before the outbreak started out in Wuhan (China) in December 2019, COVID-19 modified into an international pandemic in no time. The COVID-19 pandemic has expanded the burden on healthcare structures throughout the globe. Companies scaled up R&D efforts to advance vaccines and drugs in opposition to the virus. 

Due to the pandemic, there was once a sharp decline no longer solely in the number of sufferers but additionally in outpatient rehabilitation offerings such as bodily and occupational remedy sessions. One of the boundaries of our learning was once no longer taking into account the profiles of the patients, which would grant a higher assessment. In addition, we took into account the wide variety of sufferers and the variety of outpatient rehabilitation offerings only, whilst different vital parameters have been now not viewed in this study. Further research is warranted to analyze the effect of the COVID-19 pandemic on the useful repute of sufferers as properly as the approaches in which delayed or obstructed rehabilitation offerings have an effect on the patient's prognosis. Studies on the significance of well-timed rehabilitation are required to investigate the penalties of such delays in time of any pandemic. The main subject is that COVID-19 or any different comparable pandemic in the future would impede rehabilitation patients’ healthcare offerings due to many factors. With a steeper upward shove in the wide variety of sufferers with disabling conditions, the rehabilitation services can also in the future confront the take-back effect, and the query is how we can be higher organized for such pandemics in the future and supply gorgeous and well-timed rehabilitation applications with a patient-oriented, tailored, and individualized kind of rehabilitation design.

NOTABLE HAPPENINGS IN THE REHABILITATION SERVICES MARKETIN THE RECENT PAST:

• Acquisition - In Nov 2022, Medline declared the acquisition of Dufort et Lavigne Ltée, a Montreal-based medical supplies distributor