Rehabilitation helps patients in restoring better range of motion, which helps them support and perform their day-to-day activities after any surgery, illness, or accident. Restorative therapy may involve occupational, physical, medicinal, or speech therapy and psychological services that help restore body functions primarily with respect to neurological rehabilitation. In simple terms, restorative therapy is restoring body functions from dysfunctional state back to normal via remedies that help regain health, vigor and consciousness. Restorative therapeutic treatments address body functions such as lifting, bending, ability to move freely, normal muscle strength, elasticity of spine and body, difficulty in movements due to neurological disorder or surgery, and simple body function free from any disease or damage.
As surgical and accident cases are on the rise, demand for restorative techniques and products is increasing. This is likely to drive the market in the next few years. Some of the important factors driving this market are the rise in demand amongst geriatric population for long-term pain management, side-effects of pain medications, development of novel pain management techniques and devices, conventional reimbursement scenario and policies for spinal cord stimulation (SCS) devices in developed countries, and accuracy and efficacy of restorative devices and techniques to treat acute and chronic pain. Additionally, with the increasing number of cases of neurological, infectious and cardiovascular diseases, cancer, drug abuse, and disabilities; demand for restorative therapies and products is projected to increase, augmenting the restorative therapies market in the near future. Efforts for upgrade of health care infrastructure across several developing and developed countries have also been propelling the market. On the other hand, high prices have resulted in slow adoption of restorative devices. Lack of awareness about benefits of these devices would also restrain the global restorative therapies market during the forecast period. However, increasing demand for rehabilitation and restorative therapy products for women’s health, rise in health consciousness, and awareness campaigns worldwide may create high growth opportunities for the market in the next few years. The important business strategy adopted by some of the market players is technological upgrade of products and therapies.
The global restorative therapies market can be segmented on the basis of product, mode of purchase, end-user, and geographical region. On the basis of product, the market can be divided into spine, neuromodulation, surgical technologies, and neurovascular technologies. Both neurological technologies and surgical technologies segments are expected to hold a high share of the market and expand rapidly in the next few years, due to technological advancements. On the basis of mode of purchase, the market can be segmented into prescription-based devices and over–the-counter (OTC) devices. The OTC devices segment is expected to expand rapidly in the near future, due to availability of new FDA-approved devices. On the basis of end-user, the global restorative therapies market can be segmented into hospitals, diagnostic centers, academic & research institutes, and others.
Based on geographical region, the global restorative therapies market has been broadly segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America dominates the global market, followed by Europe and Asia Pacific. Government initiatives and investments, extensive adoption of new technologies, presence of key players in the market are some of the factors responsible for growth of above mentioned markets. Additionally, major opportunities are coming in frame specifically in Middle East & Africa and Latin America, due to expansion by small- and large-sized players in this region, to complete the unmet needs of the patients. The growing popularity of medical tourism and activities in developing countries such as India, China, and Brazil have been promoting the adoption of restorative therapies and products in these countries.
Some of the key players operating in the global restorative therapies market are Medtronic, Boston Scientific Corporation, Johnson & Johnson, Zimmer Biomet Holdings, and Stryker Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.