According to Coherent Market Insights, the global virtual rehabilitation and telerehabilitation systems market was valued at US$ 165.5 million in 2018 and is projected to exhibit a CAGR of 19.2% during the forecast period (2019 – 2027.
Key Trends and Analysis of the Virtual Rehabilitation and Telerehabilitation Systems Market:
Manufacturers are engaged in development and launching of innovative rehabilitation devices, which is expected to drive the virtual rehabilitation and telerehabilitation systems market growth. For instance, in August 2019, Ekso Bionics Holdings launched its EksoNR, the next generation of its EksoGT robotic exoskeleton, developed for neurorehabilitation purposes. The device is equipped with advanced software such as EksoView. EksoView, a touchscreen controller, allow therapists to provide assistance to disabled people by using real-time feedback and perform the analysis of outcomes with the help of EksoNR.
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Moreover, the usage of virtual rehabilitation and telerehabilitation systems is less expensive for both healthcare providers and patients as compared to conventional in-clinic or person-to-person rehabilitation. For instance, according to the data published by American Congress of Rehabilitation Medicine (ACRM), in 2015, in-clinic intervention resulted in more expenses than the telerehabilitation intervention (US$ 654.72 per person). Hence, low price of virtual rehabilitation and telerehabilitation systems is expected to increase adoption of these systems and in turn propel the market growth over the forecast period
Furthermore, acquisitions by key players to enhance the at-home telerehabilitation capability is contributing to the virtual rehabilitation and telerehabilitation system market growth. For instance, in October 2016, Zimmer Biomet Holdings Inc. acquired RespondWell, a telerehabilitation platform from RespondWell LLC. Zimmer Biomet integrated the novel platform into its Zimmer Biomet Signature Solutions to further enhance patient compliance with physical therapy.
Physical rehabilitation segment is expected to hold dominant position in the virtual rehabilitation and telerehabilitation systems market, owing to increasing focus of manufacturers to develop devices and increasing regulatory approval for physical rehabilitation systems. For instance, in June 2019, Reflexion Health, Inc. received the U.S. Food & Drug Administration (FDA) 510(k) clearance for the use of its Virtual Exercise Rehabilitation Assistant (VERA) digital physical therapy platform in ‘rehabilitating the trunk and upper extremities’.
Key Market Takeaways:
- The global virtual rehabilitation and telerehabilitation systems market is projected to exhibit CAGR of 19.2% during the forecast period (2019 – 2027), owing to increasing product launches of virtual reality rehabilitation systems.
- For instance, in March 2018, Reflexion Health, Inc., a U.S.-based digital health solutions company, launched its next-generation solutions, namely VERAHome and VERAClinic, for patients and clinicians
- Among region, Europe is expected to exhibit significant growth rate, owing to increasing number of approvals from the European Union for telerehabilitation and virtual rehabilitation systems. For instance, in September 2014, VirtualRehab, first virtual reality platform, received CE marking for motion capture physical rehabilitation software in Europe. The device was designed in collaboration with neurologists and physiotherapists. The device was designed for use in Neurorehabilitation unit in National Hospital for Neurology & Neurosurgery (NHNN), London.
Major players operating in the global virtual rehabilitation and telerehabilitation systems market include Reflexion Health, Inc., 270 Vision Ltd., CoRehab srl, Hinge Health, Inc., SWORD Health, S.A., MIRA Rehab Limited, Bridgeway Senior Healthcare, Motekforce Link, GestureTek Inc., Virtualware Group, Motorika Medical Ltd., LiteGait, Doctor Kinetic, and Mindmaze.
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Detailed Segmentation:
- Global Virtual Rehabilitation And Telerehabilitation Systems Market, By Product Type
- Physical Rehabilitation
- Neuro Rehabilitation
- Cognitive Rehabilitation
- Others
- Global Virtual Rehabilitation And Telerehabilitation Systems Market, By End User:
- Hospitals & Clinics
- Rehabilitation Centers
- Home Care Settings
- Global Virtual Rehabilitation And Telerehabilitation Systems Market, By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
- Company Profiles
- Reflexion Health, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Highlights
- Strategies
- 270 Vision Ltd.
- CoRehab srl
- Hinge Health, Inc.
- SWORD Health, S.A.
- MIRA Rehab Limited
- Bridgeway Senior Healthcare
- Motekforce Link, GestureTek Inc.
- Virtualware Group
- Motorika Medical Ltd.
- LiteGait, Doctor Kinetic
- Mindmaze
- Reflexion Health, Inc.
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