Gait Rehabilitation System Market Segmentation by Type (Mental-illness, and Physical Injuries); by Product Type (Computerized Services, and Mechanical Type); and by End-User (Clinics, Hospitals, Nursing Home, and Rehabilitation Centers) – Global Demand Analysis & Opportunity Outlook 2031
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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
June 2, 2021: Meden-Inmed received the EU certificate to ensure the high quality and enhanced safety protocols of their products, including, various physiotherapy and rehabilitation instruments.
October 30, 2019: Bad Oeynhausen, to facilitate the “cutting-edge robot-assisted gait therapy system” developed by “Reha Technology AG” in one of its rehabilitation centers in Germany.
The global gait rehabilitation system market is estimated to grow at a modest CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to factors, such as, the increasing prevalence of neurological disorders and sports injuries. Additionally, the elevation in the cases of orthopedic diseases is projected to further boost the market growth throughout the forecast period. According to the data by the World Health Organization (WHO), approximately 1.71 billion people suffer from musculoskeletal conditions worldwide. Furthermore, the gait rehabilitation system includes the requisite technology to provide necessary aid to people with walking disabilities to assist them in regaining their functional gait. In turn, the growth in advanced technologies in the healthcare sector, is estimated to boost the market growth.
The global gait rehabilitation system market is segmented by product type into computerized services, and mechanical type, out of which, the mechanical type segment is anticipated to hold the notable share in the market during the forecast period, on the back of the requirement of the different sorts of machines to provide functional and non-functional training that includes treadmills, developed walkers, canes, and other body-weight supported systems.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Regionally, the global gait rehabilitation system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North American region is estimated to witness noteworthy growth over the forecast period on the back of escalating investment by the large companies and organizations in the R&D domain. Moreover, the high incidences of neurological disorders and sports injuries in the region is also estimated to boost the market growth. A study conducted by Pan American Health Organization (PAHO) in 2019 witnessed 533,172 deaths region-wide due to neurological disorders summing up to about 32.9 deaths per 100,000 populations.
Moreover, the market in the Asia Pacific region is projected to generate notable revenue over the forecast period owing to the elevated prevalence of disabilities in the region. According to the data represented by United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP) showed that one out of six people in Asia Pacific has some sorts of disability annually, meanwhile the total number of disabled people in the same region was evaluated to be 650 million including men, women, and children.
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The global gait rehabilitation system market is further classified on the basis of region as follows:
Our in-depth analysis of the global gait rehabilitation system market includes the following segments:
Ans: Factors, such as orthopedic diseases, neurological disorders, and sports injuries are the major factors driving the growth of the global gait rehabilitation system market.
Ans: The market is anticipated to attain a modest CAGR over the forecast period, i.e., 2022- 2031.
Ans: Alternative therapies at cheaper rate to cure gait disturbance are estimated to hamper the market growth.
Ans: North America is anticipated to provide more business opportunities for growth of the global gait rehabilitation system market in the future on the back of rising investment in R&D activities by significant companies.
Ans: The major players in the market are zebris Medical GmbH, Groupe WINNCARE S.A.S, Reha Technology AG, DIH Medical, MediTouch LTD., HIWIN Corporation, Restorative Therapies, Inc., BAMA Teknoloji, and Meden-Inmed Sp. z o.o.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, product type, end-user, and by region.
Ans: The mechanical type segment is anticipated to hold the largest market size over the forecast period projecting significant growth opportunities for the market.
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