The U.S. Physical Therapy Virtual and Telerehabilitation Services Market, by Service Type (Audio, Video, and Both), by Application (Cardiovascular Physical Therapy, Orthopedic Physical Therapy, Neurological Physical Therapy, Pressure Ulcers, Cognitive Rehabilitation, and Others), and by End User (Hospitals, Rehabilitation Centers, Homecare Settings, and Others) 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), as highlighted in a new report published by Coherent Market Insights.
Increasing launches of new virtual reality telehealth clinics are expected to propel the U.S. physical therapy virtual and telerehabilitation services market growth over the forecast period. For instance, in February 2020, XRHealth (formerly VRHealth), the leader in extended reality and therapeutic applications, announced the launch of a new first virtual reality telehealth clinic that will provide virtual reality therapy to patients. VR telehealth clinicians providing care are currently certified in Connecticut, Massachusetts, Florida, Washington D.C., Michigan, Delaware, New York, New York, and North Carolina.
U.S. Physical Therapy Virtual and Telerehabilitation Services Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID 19 pandemic and its consequent lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors. The private healthcare sector is one of the sectors which has been majorly impacted by the COVID-19 pandemic. The lockdown in various countries has also created an economic burden on the private healthcare sector. Healthcare providers faced many challenges with regards to manpower, equipment, and other resources to ensure safety in the treatment of patients with other diseases. The pandemic further resulted in declining outpatient visits at hospitals and clinics.
In this difficult period, digitization and automation have emerged as the key solution. Growing popularity of telemedicine and telephysiotherapy for online consultation have positively impacted the U.S. physical therapy, virtual and telerehabilitation services market. Tele-rehabilitation allows patients to obtain online outpatient services from a physiotherapist via videoconferencing from the comfort of their own homes. Thus, the COVID-19 pandemic has positively impacted the U.S. physical therapy virtual and telerehabilitation services market.
Browse 14 Market Data Tables and 15 Figures spread through 130 Pages and in-depth TOC on “U.S. Physical Therapy Virtual and Telerehabilitation Services Market” - Forecast to 2028, U.S. Physical Therapy Virtual and Telerehabilitation Services Market, by Service Type (Audio, Video, and Both), by Application (Cardiovascular Physical Therapy, Orthopedic Physical Therapy, Neurological Physical Therapy, Pressure Ulcers, Cognitive Rehabilitation, and Others), and by End User (Hospitals, Rehabilitation Centers, Homecare Settings, and Others)
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The development of novel systems for providing rehabilitation services is also expected to aid in the U.S. physical therapy virtual and telerehabilitation services market growth over the forecast period. For instance, in January 2019, MbientLab, a company building the next generation of sensors and tools for the healthcare industry, launched MIOTherapy (MIO), a wearable technology platform for physical and occupational therapists. This platform integrates the effectiveness of traditional physical therapy with smart sensors, therapeutic exercises, games, and 3D visualization technology to personalize and improve outpatient rehabilitation and accelerate recovery.
Key Takeaways of the U.S. Physical Therapy Virtual and Telerehabilitation Services Market:
- The U.S. physical therapy virtual and telerehabilitation services market is expected to exhibit a CAGR of 13.1% during the forecast period due to increased launches of telerehabilitation solutions by the key players in the market. For instance, in March 2020, Excel Physical Therapy, a company that specializes in providing the provision of comprehensive physical therapy to individuals, announced the launch of a TeleRehab solution. This virtual platform will provide patients with an alternative to accessing physical therapy care from their homes.
- On the basis of service type, the video segment accounted for the largest market share in the U.S. physical therapy virtual and telerehabilitation services market in 2021, owing to increased product launches by the key players in the market. For instance, in October 2021, Evolution Devices, a company based in California, created EvoWalk, a functional electrical stimulation device that can assist people with foot drop, a condition caused by muscle weakness or paralysis, to walk more freely. This system pairs a device user with a physical therapist, who can guide them through a rehabilitation program via a video link.
- On the basis of application, the orthopedic physical therapy segment is estimated to account for the largest market share in the U.S. physical therapy virtual and telerehabilitation services market over the forecast period. The rising incidence of osteoarthritis among the population is expected to boost the demand for orthopedic physical therapy, thereby driving the segment growth. For instance, according to an article published by Elsevier, a global information analytics company, in January 2020, osteoarthritis (OA) is a highly prevalent rheumatic musculoskeletal disorder that affected 303 million people globally in 2017.
- 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
