India's healthcare sector has witnessed a notable transformation in recent years, with a growing importance given to preventive care, specialized treatments, and rehabilitation services. As the population ages and lifestyle-related diseases become more prevalent, the demand for rehabilitation services has surged. Let's explore the current state of the rehabilitation services market in India, its growth drivers, challenges, and future prospects.
RISING DEMAND
The global rehabilitation services market was valued at $7.26 billion in 2023 and is projected to reach $11.43 billion by the end of 2030, according to data released by Virtue Market Research. Over this forecast period (2024-2030), the market is projected to grow at a compound annual growth rate (CAGR) of 6.7 percent. Increasing number of senior people around the world and new technological advancements are seen as the key factors driving growth for this category, worldwide.
According to another report, released by Grand View Research (GVR), the worldwide medical rehabilitation services market was estimated to be $254.82 billion in 2023 and is expected to grow at a CAGR of 6.14 percent during the forecast period (till 20230). Increasing number of patients with neurological, musculoskeletal, and cardiologic conditions is expected to drive the growth of the market over the forecast, states the GVR report.
Rehabilitation services play a pivotal role in helping individuals recover from illnesses, injuries, or disabilities. The demand for these services has been on a steady rise due to several factors.
This story is from the October 2024 edition of Healthcare Radius.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 2024 edition of Healthcare Radius.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Bhuvan Bam launches sexual wellness brand Peppy
Peppy has partnered with the popular digital content creator and actor Bhuvan Bam, who joins as both a co-founder and an investor.
KimsHealth inaugurates Linear Accelerator for Radiotherapy
The TrueBeam technology enables doctors to effectively deliver radiation to even the most challenging cancer-affected areas of the body.
Dr. Reddy's launches Toripalimab for nasopharyngeal carcinoma
Dr. Reddy’s obtained exclusive rights to develop and commercialize Toripalimab in 21 countries including India, South Africa, Brazil and some countries in Latin America.
Red.Health and Medanta launch UP's first 5G ambulance
5G ambulances use SyncX infrastructure to transmit critical patient data to hospital ER teams with less than two seconds of latency.
THE MODERN EVOLUTION OF AYURVEDA: A TIMELESS APPROACH TO HEALTH
By integrating Ayurveda with modern healthcare and building advanced facilities, India can create a hybrid model that delivers quality care to underserved populations while preserving its heritage.
BOOSTING INDIA'S MEDICAL EQUIPMENT MANUFACTURING
A well-structured budget can redefine the healthcare ecosystem, enabling synergies between hospitals, medtech, logistics, and pharma industries.
HEALTHCARE SECTOR EYES MAJOR REFORMS AND HIGHER ALLOCATION
By addressing critical priorities, tackling challenges, and aligning with expert insights, this budget can pave the way for a healthier and more resilient India
EVOLVING HEALTHCARE LANDSCAPE FOR FUTURE NECESSITIES
The integration of digital health solutions will facilitate better patient tracking and data management leading to improved healthcare outcomes
STRATEGIC INVESTMENTS & REFORMS EXPECTED
Shifting hospitals from the GST exemption category to zero-tax would allow input credit, lowering treatment costs for patients.
BUDGET 2025-26 KEY EXPECTATIONS
Industry leaders have shared their expectations for the upcoming budget, emphasizing the need for comprehensive reforms in areas ranging from medical education and skill development to insurance accessibility and technological innovation.
