Global Telerehabilitation Systems Market, by Application (Cardio-pulmonary, Neurology, Orthopedic, and Others), By Component (Hardware, and Software), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 201.8 million in 2020 and is expected to exhibit a CAGR of 13.4% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Players in the market are focused on development of novel and technologically advanced tele rehabilitation systems for different indications. Companies are focused on adopting strategic partnership and acquisition activities for development of such novel systems.
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For instance, since 2016, the Don Gnocchi Calo Foundation (DGF) has been working with Evolv Rehabilitation Technologies S.L. to explore the application of VirtualRehab in tele rehabilitation settings. In this collaborative project, DGF sought to develop a state-of-the art service delivery model that demonstrated continuity during the rehabilitation process and facilitated tele-rehab to improve the quality of life of neuro patients while reducing costs for the organization. Such strategic partnerships for the development of novel devices are expected to drive the tele rehabilitation systems market growth.
For instance, in October 2016, Zimmer Biomet Holdings Inc. acquired RespondWell, a tele rehabilitation platform, from RespondWell LLC. Zimmer Biomet integrated the novel platform into its Zimmer Biomet Signature Solutions to further enhance patient compliance with physical therapy.
Telerehabilitation Systems Market – Impact of Coronavirus (Covid-19) Pandemic
Telehabiliation being one of the important part in digital health playing a crucial role in helping patients with the treatment during this pandemic situation where social distancing is important as per government lockdown rules. Companies are taking part providing services to the patients to manage this crisis. For instance, in April 2020, Bardavon Health Innovations, LLC, announced their “Therapy Services Pathway” for the injured workers during this pandemic for proper treatment approach whether in-clinic, tele rehabilitation or blended. This kind of initiatives are expected to inhibit the demand for tele rehabilitation in the near future.
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Key players in the market have opportunity to focus on development of technologically advanced tele rehabilitation systems and launch them into market. For instance, in March 2019, U.S.-based company, Neuro Rehab VR and the University of North Texas Health Science Center partnered with the University of Texas at Arlington Research Institute (UTARI). The University of Texas at Arlington Research Institute is making flexible soft robotic gloves that will aid in rehabilitating stroke patients through virtual reality gaming.
Browse 26 Market Data Tables and 28 Figures spread through 160 Pages and in-depth TOC on Telerehabilitation Systems Market, By Application (Cardio-pulmonary, Neurology, Orthopedic, and Others), By Component (Hardware, and Software), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Forecast to 2027″
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Key Takeaways of the Telerehabilitation Systems Market:
- The telerehabilitation systems market is expected to exhibit a CAGR of 4% during the forecast period (2020-2027) owing to frequent partnerships and collaborations among market players.
- Among application, the orthopedic segment is expected to hold major revenue share in 2027 owing to the rising prevalence of disability among the population, which is expected to boost demand for tele rehabilitation systems and drive growth of the orthopedic segment. For instance, according to WHO estimations, in 2018, musculoskeletal conditions were the second highest contributors to disability, accounting for 16% of all cases of disability across the globe.
- Major players operating in the tele rehabilitation systems market are Reflexion Health, Inc., 270 Vision Ltd., CoRehab srl, Hinge Health, Inc., SWORD Health, S.A., MIRA Rehab Limited, flex, Neuro Rehab VR, Evolv Rehabilitation Technologies S.L., Yancheng Tianrun Medical Technology Co., Ltd., Tyromotion GmbH, Brontes Processing Ltd., Bridgeway Senior Healthcare, Rehametrics, Geminus-Qhom, MindMaze, DIH Medical and Doctor Kinetic.
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