Rehabilitation medicine is a medical specialty that uses various means to promote the rehabilitation of disabled people and patients. It focuses on the prevention, assessment and treatment of functional disabilities caused by diseases, injuries and disabilities, with the aim of improving physical functions, enhancing self-care capabilities and improving quality of life. Rehabilitation medicine, along with preventive medicine, clinical medicine and health medicine, is considered one of the “four major medicines” by WHO and plays an increasingly important role in the modern medical system. Different from clinical medicine, rehabilitation medicine focuses on functional disabilities and relies primarily on non-pharmacological therapies, requiring direct participation of patients and their families. The basic principles of rehabilitation medicine are: functional training, early synchronization, active participation, comprehensive rehabilitation, teamwork, and return to society.
With the growing demand for rehabilitation equipment and supportive policies, rehabilitative medical devices will receive greater market attention as important tools for improving the quality of life of the disabled and the elderly. Portable monitoring devices and intelligent assistive products will be important drivers of growth in the rehabilitative medical device market. With the accelerating population aging, reforms in health insurance payment methods, rising public pursuit of quality of life, and continuous improvements in social security systems, downstream sectors, especially the household sector, will see relatively rapid growth in demand for rehabilitation equipment.
Medical rehabilitation devices are mainly used in the treatment and rehabilitation of diseases related to orthopedics, neurology, cardiology and other fields. The elderly, the disabled and other groups are the main consumers of such products. Population aging and the early onset of chronic diseases are important driving factors for the rehabilitative medical device industry.
China’s rehabilitation equipment industry is still in its infancy, and the supply of rehabilitation equipment products still relies mainly on government investment. However, the huge population base and the objective situation of accelerating population aging determine that there is huge market demand and tremendous growth potential for rehabilitation equipment in China, which still faces a supply gap. Judging from the proportion of the aged population, national health expenditure, future adjustments in the structure of pharmaceutical and medical device consumption, the inclusion of rehabilitation equipment in medical insurance reimbursement, and the rising affordability of residents in recent years, China’s rehabilitation equipment market will continue to grow steadily in the future and has great market potential.
With continuous technological advances, the integration of intelligent sensors, the Internet of Things, big data and other technologies will drive the human-computer interaction between medical rehabilitation devices and people with impaired body functions towards greater intelligence and digitalization. At the same time, remote communication, telemedicine and other means will greatly improve the accessibility of cross-regional rehabilitation medical services and enhance patients’ experience during rehabilitation to a large extent.
According to a report by CCID Consulting, an industrial research institute - “China Rehabilitation Equipment Industry Competition Analysis and Development Forecast Report, 2023-2028”,
In-depth Analysis of Rehabilitation Equipment Market
Rehabilitation medicine has extremely high medical, economic and social value. In terms of morbidity, the outcomes of most diseases cannot be cured. The causes are mostly related to environment, psychology, behavior, genes and aging, which are difficult to eliminate and reverse. Even if the causes are removed, different degrees of functional disability may still follow, affecting patients’ quality of life. In terms of mortality, seven of the world’s top ten causes of death are non-communicable diseases, including ischemic heart disease, stroke, bronchial and lung cancer, dementia, etc. Apart from acute deaths, a large number of patients can survive for a long time with functional disabilities, and rehabilitation medicine plays a huge role for them. In general, rehabilitation medicine has three meanings:
Judging from the latest rehabilitation industry policies, the focus is on the rehabilitation and elderly care needs of the elderly, the demands of the disabled for private rehabilitation institutions, and policy payment measures, as well as groups that benefit from rehabilitation payment policies among inpatients. The potential population in need of rehabilitation equipment in China is huge, with an estimated total population of 170 million, including the elderly, the disabled and patients with chronic diseases.
With the continuous rise of rehabilitation medicine and the strong support of the state for the construction of rehabilitation infrastructure, the innovation and development of rehabilitative medical devices have also embraced new opportunities. More rehabilitative medical devices integrate advanced technologies based on existing ones to achieve unexpected results. Rehabilitative medical devices are developing in the direction of integration, refinement, humanization and informatization. The rehabilitative medical device industry has strong channel sharing capabilities. When a product opens up channels and gains customer recognition, companies can continue to recommend other products through these channels. On the other hand, the industry’s channels are also significantly exclusive. Early entrants are more likely to form channel barriers and squeeze the channel space of later entrants, forming an industry trend of “the strong getting stronger”.
The innovation and development of rehabilitative medical devices are based on the continuous advancement of rehabilitation medicine and the integration of modern science and technology to form unique products that meet clinical rehabilitation needs. At the same time, developers and users continue to communicate and provide feedback during the clinical use of rehabilitation equipment to gradually improve and enhance the overall quality and advanced level of rehabilitative medical devices.
With the continuous improvement of China’s three-level rehabilitation medical system, rehabilitation medical resources are shifting downwards to primary medical institutions and even communities. Medical rehabilitation devices will gradually enter households, developing in the direction of home convenience, and smart products will be more suitable for use at home by groups like the elderly. For rehabilitation as a whole, the industry has no obvious economic cyclicality. However, rehabilitation medicine is a golden track that is still in its early stages of development in China, representing a blue ocean. Currently in the industry, there are no leading enterprises downstream in rehabilitation hospitals or midstream in equipment manufacturing. It is highly likely that the prosperity of rehabilitation medicine will be maintained in the next 10 years.
In addition, the development of technologies such as sensors and microfluidics has spawned more efficient, portable and finely categorized medical rehabilitation device products. The application of these products will help alleviate the pressure of limited space for health care at hospitals and homes, enabling medical staff to transfer medical device resources and accurately position device functions more quickly and easily, maximizing cost savings in rehabilitation medical venues and manpower.
Data shows that China’s medical rehabilitation device market has grown from 11.5 billion yuan to 28 billion yuan, with a compound annual growth rate as high as 24.9%. It is expected to continue fast expansion at a 19.1% compound growth rate in the future, reaching 67 billion yuan in 2023.
At present, China’s rehabilitation equipment industry is initially scaled, with relatively complete product categories, but it also has weaknesses such as small business scale, low market concentration, and insufficient product innovation capabilities.
China’s rehabilitation equipment industry has formed a certain scale, but overall, domestic rehabilitation equipment manufacturers mainly focus on the mid-to-low end fields. The entire rehabilitation equipment industry presents a competitive landscape of “big market, small enterprises”, with intense competition in the mid-to-low end market. By the end of October 2021, a total of 438 companies nationwide had been approved for 890 “Class II medical rehabilitation equipment” products. Among them, only 11 companies held more than 10 registered certificates, and 412 companies held less than 5 registered certificates.
Analysis of Rehabilitation Equipment Market Prospects
Rehabilitation medicine covers a wide population and a diverse range of diseases. The main subjects of rehabilitation medical services are the disabled, the elderly, patients with chronic diseases, patients in the acute phase and early recovery phase of diseases or injuries, and sub-healthy people. In addition to physical and intellectual disabilities, the disabled also include functional disabilities such as hemiplegia, paraplegia, and cognitive impairment caused by chronic cardiovascular and cerebrovascular diseases, tumors, traumatic brain injury, spinal cord injury and other diseases. Major sub-specialties of rehabilitation include neurological rehabilitation, orthopedic rehabilitation, cardiopulmonary rehabilitation, pain rehabilitation, tumor rehabilitation, pediatric rehabilitation, geriatric rehabilitation, etc.
Short-to-medium term market capacity measurement: Based on the level of basically meeting China’s rehabilitation needs, the current annual compound growth rate of the industry is no less than 18%, and the scale of China’s rehabilitation medical industry is expected to reach 103.3 billion yuan in 2022. Long-term overall market capacity measurement: With reference to the US per capita rehabilitation consumption standard of USD 80 per person, the theoretical market capacity for rehabilitation medicine in China will reach RMB 650 billion.
Neurology departments most commonly treat stroke and cerebral obstruction patients. Stroke progresses rapidly and is extremely dangerous. Even if patients undergo rapid thrombolysis after admission, they are still highly prone to complications such as hemiplegia and numbness of hands and feet. Rehabilitation treatment is the most effective way to reduce disability rates. In addition, rehabilitation has significant clinical effects on many neurological diseases such as Alzheimer’s disease and Parkinson’s disease. It can effectively slow the progression of the disease and restore the ability to live independently.
There are few listed companies in the rehabilitation equipment industry. The representative A-share listed companies are Yujie Medical and Chengyi Tongda. Some of Yujie Medical’s products belong to the rehabilitation equipment industry. Chengyi Tongda entered the rehabilitation equipment industry by acquiring Guangzhou Longzhijie and is queuing for an IPO. Qianjing Rehabilitation, which is awaiting IPO, is a comprehensive rehabilitation equipment product
and service provider. Rehabilitation medical companies listed on the New Third Board mainly include Youde Medical, MaiDong Medical, and Nuocheng Co.
The rehabilitation equipment industry report provides careful analysis and predictions of the industry’s future development trends based on the industry’s development trajectory and years of practical experience. It is an invaluable premium product for industry enterprises, scientific research institutions, sales companies, rehabilitation equipment industry investment companies and more to accurately understand the latest developments in the industry, grasp market opportunities, and make correct business decisions and clarify enterprise development directions. It is also the first heavyweight report in the industry to conduct comprehensive and systematic analysis of upstream and downstream industrial chains as well as key enterprises in the industry.
How is the research on the rehabilitation equipment market conducted? CCID Consulting has conducted in-depth analysis of the industry, providing references for research work such as development analysis and investment analysis. For more details of specific industries, please click to view CCID Consulting’s report “China Rehabilitation Equipment Industry Competition Analysis and Development Forecast Report, 2023-2028″.
Here are some additional thoughts on improving quality of life:
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Access to assistive devices and technologies can be crucial for allowing people with disabilities or limitations to maintain independence and participate in daily activities. Products like toilet lifts, walkers, wheelchairs, and speech assistance devices empower people to do more on their own.
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Home modifications like grab bars, ramps, and chair lifts also enable greater mobility and safety. Adapting the home environment helps people stay in their homes longer as they age.
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Physical therapy, occupational therapy, and other rehabilitation services help people regain strength, movement, and skills after illness, injury, or surgery. Having access to these services can maximize function.
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Support services like transportation, meal delivery, and in-home care assistance with activities of daily living are key to remaining active and engaged in the community. Quality of life is enhanced when basic needs are easily met.
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Social connection and community participation provide meaning and emotional wellbeing. Access to senior centers, volunteer opportunities, places of worship, and other social outlets improves quality of life.
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Advances in telehealth and remote monitoring technologies now allow better home-based care while retaining connections with healthcare providers. This allows people more choices in how they receive care.
Post time: Jul-14-2023