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Some of the recent technological advancements in the virtual rehabilitation (VR) and telerehabilitation system include high-end and low-end systems, embedded ambient VR technologies to monitor real world activity, and turn-key VR systems with clinical validity and reliability. Major players in the global virtual rehabilitation and telerehabilitation system market are also focused on VR applications with a personalized medicine approach.
The global virtual rehabilitation and telerehabilitation system market is estimated to be valued at US$ 192.7 million in 2019 and is expected to witness a CAGR of 19.2% during the forecast period (2019 – 2027).
Global Virtual Rehabilitation and Telerehabilitation System Market: Competitive Landscape
Major players operating in the global virtual rehabilitation and telerehabilitation system market include, CoRehab srl, Hinge Health, Inc., SWORD Health, S.A., Reflexion Health, Inc., 270 Vision Ltd., MIRA Rehab Limited, Bridgeway Senior Healthcare, Motekforce Link, GestureTek Inc., Virtualware Group, Motorika Medical Ltd., LiteGait, Doctor Kinetic, and Mindmaze.
Figure 1. Global Virtual Rehabilitation and Telerehabilitation System Market Overview
Source: Coherent Market Insights Analysis (2019)
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Global Virtual Rehabilitation and Telerehabilitation System Market: Drivers
Key players in the global virtual rehabilitation and telerehabilitation system market are focused on partnering with research institutes for R&D of new VR and telerehabilitation systems, which is expected to boost growth of the market. For instance, in March 2019, Neuro Rehab VR, a U.S.-based company, and The University of North Texas Health Science Center partnered with the University of Texas at Arlington Research Institute (UTARI) for developing flexible soft robotic gloves that aid in rehabilitating stroke patients through VR gaming.
Key players in the market are also focused on adopting M&A strategies to expand their product portfolio. 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.
Global Virtual Rehabilitation and Telerehabilitation System Market: Restraints
However, lack of awareness among healthcare professionals about VR and telerehabilitation systems and lack of skilled professionals in emerging economies is expected to restrain growth of the market.
Global Virtual Rehabilitation and Telerehabilitation System Market: Regional Analysis
High presence of major market players such as Bridgeway Senior Healthcare and Virtualware Group, developed healthcare infrastructure, and favorable policies are some of the factors boosting growth of the market in North America.
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Increasing cases of disability, growing awareness among the population regarding VR and telerehabilitation systems, and increasing healthcare expenditure are expected to boost growth of the market in Asia Pacific. For instance, according to Central Government and Disability Census in India, in 2016, around 26.8 million people were disabled, which represented 2.21% of the total population.
Increasing approval and launch of solutions is expected to boost growth of the market in Europe. For instance, in February 2016, MindMaze received CE marking for its Immersive Virtual Reality (IVR) rehabilitation solution, MindMotionPRO, for neurological rehabilitation. MindMotionPRO is a hospital-based rehabilitation solution for early motor intervention in neurological patients.
Figure 2: Global Virtual Rehabilitation and Telerehabilitation System Market Share (%), By Region, 2018
Source: Coherent Market Insights Analysis (2019)
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
- By Country:
- U.S.
- Canada
- By Product Type
- By End User
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Product Type
- By End User
- By Country:
- Asia Pacific
- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Product Type
- By End User
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Product Type
- By End User
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Product Type
- By End User
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Product Type
- By End User
- By Country/Region:
- North America
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