The Global Virtual Rehabilitation and Telerehabilitation Systems Market, by Product Types (Physical Rehabilitation, Neuro Rehabilitation, Cognitive Rehabilitation, and Others) by End User (Hospitals & Clinics, Rehabilitation Centers, and Home Care Settings), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.
Increasing regulatory approvals for virtual rehabilitation and telerehabilitation devices and systems is expected to drive growth of the virtual rehabilitation and telerehabilitation systems market. For instance, in June 2019, Reflexion Health, Inc. received the U.S. Food & Drug Administration (FDA) 510(k) clearance for use of its Virtual Exercise Rehabilitation Assistant (VERA) digital physical therapy platform in ‘rehabilitating the trunk and upper extremities’. Previously, VERA was already approved by the U.S. FDA for the treatment of lower extremities i.e. knee and hip replacement surgery.
Browse 30 Market Data Tables and 27 Figures spread through 117 Pages and in-depth TOC on "Virtual Rehabilitation and Telerehabilitation Systems Market, by Product Types (Physical Rehabilitation, Neuro Rehabilitation, Cognitive Rehabilitation, and Others), by End User (Hospitals & Clinics, Rehabilitation Centers, and Home Care Settings), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027
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Manufacturers are focused on development and launch 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 analysis of outcomes with the help of EksoNR.
Moreover, adoption of inorganic growth strategies such as partnership and collaboration by major players operating in the market is expected to drive growth of the virtual rehabilitation and telerehabilitation systems market. 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 telerehabilitation 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.
Key Takeaways of the Virtual Rehabilitation and Telerehabilitation Systems Market:
- The global virtual rehabilitation and telerehabilitation systems market is expected to exhibit a CAGR of 19.2% during the forecast period (2019 – 2027), owing to increasing product launches of innovative virtual rehabilitation and telerehabilitation systems
- Increasing awareness among the population in developed countries about virtual rehabilitation and telerehabilitation systems, and rising trend of using computer assisted rehabilitation systems such as training platform (motion base), a virtual environment, a sensor system (motion capture), and D-flow software are other factors that are expected to drive growth of the virtual rehabilitation and telerehabilitation systems market
- 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
