U.S. PHYSICAL THERAPY VIRTUAL AND TELEREHABILITATION SERVICES MARKET ANALYSIS

Telerehabilitation is the delivery of rehabilitation services over telecommunication networks and the internet. A physical therapist (also known as a physiotherapist) provides physical therapy to develop, maintain, and re-establish movement and functional capacity in people of all ages. The medical service uses the application of telecommunication to provide medical support via telecom or digital media to individuals with specific disorders. Telerehabilitation provides a diversity of clinical applications including the facility of assistive technology, remote therapy using tools, and others. Telerehabilitation services are needed to manage therapies or propose interactive therapies or therapeutic settings.

The U.S. physical therapy virtual and telerehabilitation services market is estimated to be valued at US$ 142.2 million in 2021 and expected to exhibit a CAGR of 13.1% during the forecast period (2021-2028).

Figure 1. U.S. Physical Therapy Virtual and Telerehabilitation Services Market Share (%) in Terms of Value, by Service Type, 2021

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The increasing prevalence of cardiovascular disorders is expected to drive the market growth over the forecast period.

The rising number of patients with cardiovascular disorders is expected to drive the growth of the U.S. physical therapy virtual and telerehabilitation services market over the forecast period, as cardiovascular physical therapy help individuals improve their aerobic and breathing capacity. For instance, according to the American College of Cardiology Foundation, in 2019, there were approximately 1.05 million people suffering from coronary diseases in the U.S. Moreover, according to the Centers for Disease Control and Prevention (CDC) report 2020, around 805,000 Americans have a heart attack every year.

Figure 2. U.S. Physical Therapy Virtual and Telerehabilitation Services Market Share (%), by End User, 2021

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The development of novel systems for providing rehabilitation services is expected to drive the market growth during the forecast period.

The development of novel systems for providing rehabilitation services is expected to drive the market growth during the forecast period. For instance, in July 2019, PT Genie, a digital health company, introduced PT Genie, a wearable device that keeps patients connected with their physical therapist remotely. PT Genie provides real-time feedback and an ongoing connection between patient and therapist to ensure that the exercise protocol is helping the patient recover.

U.S. Physical Therapy Virtual and Telerehabilitation Services Market – Impact of Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) pandemic and its consequent lockdown in various countries across the globe have impacted the financial status of businesses in all sectors. The private healthcare sector is one of the sectors which is majorly impacted by the COVID-19 pandemic.

The rapid global spread of the COVID-19 is challenging healthcare systems worldwide in terms of healthcare planning, infrastructure, and finances. Healthcare professionals are also forced to treat severely ill patients with limited access to ventilation equipment, qualified intensive care personnel, or protective patient monitoring devices.

However, due to the COVID-19 pandemic and subsequent lockdown, telerehabilitation emerged as an effective solution to treat people and provide virtual therapy. For instance, according to a recent study published by JMIRx Med, an overlay journal, in January 2022, 84% of the physiotherapists and occupational therapists had used video-based consultations, and the use of this method had increased since the COVID-19 pandemic. Thus, the COVID-19 pandemic has positively impacted the U.S. physical therapy virtual and telerehabilitation services market.

U.S. Physical Therapy Virtual and Telerehabilitation Services Market: Restraint

The major factors that hinder the growth of the U.S. physical therapy virtual and telerehabilitation services market include limited awareness and lack of skilled professionals in developing countries.

Key Players

Major players operating in the U.S. physical therapy virtual and telerehabilitation services market include MTI America, VPT (Virtual Physical Therapists), Conversa Health, MindStreet, Inc., MEDRISK, Global Outreach TeleRehabilitation Services, Inc., Empatha, GestureTek Inc., Neuro Rehab Vr, American Well, LiteGait, Doctor On Demand, Inc., Hinge Health, Inc., Care Innovations LLC., and Jintronix.