As per a new study by Transparency Market Research (TMR), no single company holds a clear lead in the global women’s health rehabilitation products market. This renders the market’s competitive landscape highly fragmented. The presence of many local players has intensified the competition further.
TMR recommends companies to concentrate on increasing their research and development activities to introduce novel and cost-effective health rehabilitation products. Apart from product differentiation and innovation, the most prominent companies offering rehabilitation products, have expressed their keenness on acquiring local players to penetrate into emerging markets, thereby expanding their reach globally. GE Healthcare, Carolina Pelvic Health Center, Inc., and Carib Rehab Ltd. are key contributors in the market at present.
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Demand for Rehabilitation Products to Treat Health Impairments in Women Rising
Health impairment caused by chronic ailments is a major factor causing non-productive life among women around the world. Rehabilitation programs including the monitoring of body vitals, healthy habits, exercise training, and other activities help patients in retaining their health. Demand for rehabilitation among women is thus rising, mainly due to the increasing incidence of diseases such as urinary incontinence, breast cancer, lymphedema, and pelvic pain.
A lead TMR analyst says, “The rise in geriatric population and changing lifestyle habits have made women around the world more prone to chronic ailments. The prevalence of the chronic ailments is only expected to rise in the forthcoming years, thereby accelerating demand for women’s health rehabilitation products.”
The latest advancements in the healthcare sector have put rehabilitation as an indispensable medium of mitigating the surging risk of chronic diseases among women. Health rehabilitation services for women are thus designed to expedite faster recovery in them post prolonged illnesses.
While developing countries earlier exhibited low acceptance for health rehabilitation, the rising awareness about the benefits it offers is expected to augur well for the market in the long run. Despite the positive growth prospects, high product pricing could hamper the market’s growth across emerging regions to an extent. Nevertheless, with the increasing investment in health care, the future prospects for the market seem lucrative.
Demand for Women’s Healthcare Rehabilitation Products Surges in North America and Europe
Regionally, North America and Europe accounted for the leading share in the sale of women’s health rehabilitation products globally in 2015. The market in North America stood at US$1 bn in 2015 and is expected to reach US$1.5 bn in 2024, rising at a CAGR of 4.9% between 2016 and 2024. The rising number of road accidents in the recent past and increasing geriatric population have been accelerating demand for women’s health rehabilitation products in these regions.
However, during the forecast period, growth exhibited by the market for women’s health rehabilitation products in Asia Pacific is expected to the fastest.
By product, demand for treatment of urinary incontinence post prolonged illnesses is expected to rise at the highest CAGR during the forecast period.
Surging at a CAGR of 5.0% between 2016 and 2024, the women’s health rehabilitation products market is expected to reach US$4.2 bn by 2024. The market stood at a valuation of US$2.6 bn in 2015.
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