Telerehabilitation Systems Market New Trends and Current Industry 2020-2027 | Reflexion Health, Inc., 270 Vision Ltd., CoRehab srl, Hinge Health, Inc., SWORD Health, S.A., MIRA Rehab Limited

Key players in the market have lucrative opportunity to penetrate potential untapped markets of emerging economies such as India and China, where prevalence of chronic diseases is high According to a study published in Journal of Clinical and Diagnostic Research in 2018, telerehabilitation service provides various advantages such as low bandwidth utilization, low-cost technology product, simplified access, and user-friendly application, which can make telerehabilitation system popular and effective in Indian settings. The same study suggested that telerehabilitation service providers should also advertise in Indian settings for its successful implementation and use. The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

The increasing number of disability cases is expected to drive the growth of the global telerehabilitation systems market during the forecast period. For instance, according to the Central Government and Disability Census in India, in 2016, around 26.8 million people were disabled, which represented 2.21% of the total population.

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Telerehabilitation Systems Market - Impact of Coronavirus (Covid-19) Pandemic

Telerehabilitation playing a vital role during this pandemic situation being one of best delivery of rehabilitation services over telecommunication network and internet. Telerehabilitation can deliver therapy to people who cannot travel to a clinic because the patient has a disability or because of travel time. In this situation people will prefer this service through webcams, videoconferencing, phone lines, videophones and webpages containing rich Internet applications which is expected to increase the demand of telerehabilitation system 

The complete version of the report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

The telerehabilitation systems market 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).

The launch and approvals of novel virtual rehabilitation and telerehabilitation systems is expected to drive growth of the telerehabilitation systems market

Key players in the market are involved in developing novel virtual rehabilitation and telerehabilitation systems and launching them in the market. The approval and launch of such advanced systems in the market are expected to significantly drive the market growth and create conductive environment for growth of the telerehabilitation systems market during the forecast period.

For instance, in March 2018, Reflexion Health, Inc., a U.S.-based digital health solutions company, launched its next-generation solutions called VERAHome and VERAClinic for patients and clinicians. VERAHome and VERAClinic are built upon the company’s U.S. FDA-cleared Virtual Exercise Rehabilitation Assistant (VERA).

Furthermore, key players in the market are involved in expanding indication of its virtual rehabilitation systems. For instance, in June 2019, Reflexion Health, Inc. received the U.S. Food & Drug Administration (FDA) 510(k) clearance for the 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.

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.

Telerehabilitation Systems Market - Restraints

However, lack of awareness regarding novel technologies and advanced therapies among patients and healthcare professionals is a major factor which is expected to hinder growth of the telerehabilitation systems market. There is low awareness about novel technologies in rural areas of regions such as Africa and Asia Pacific which is expected to be a major reason leading to slow adoption of virtual rehabilitation and telerehabilitation systems and hinder the market growth.

Moreover, lack of skilled professionals in such regions is also expected to hamper growth of the telerehabilitation systems market during the forecast period.

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Telerehabilitation Systems Market – Regional Analysis

North America accounted for the largest share in the telerehabilitation systems market in 2019 owing to the increasing focus of key players on development of technologically advanced telerehabilitation systems for highly prevalent diseases and launching them in 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).

Moreover, adoption of acquisition strategies by key players to enhance at-home telerehabilitation capabilities is contributing to the growth of the telerehabilitation system market. 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.

Furthermore, Asia Pacific is also expected to witness significant growth in the global telerehabilitation systems market owing to initiatives taken by key players. Companies such as Neo-Rehab Pty Ltd, Visionflex Pty Limited, and others offer telerehabilitation products and services in Australia. Moreover, government authorities such as the government of South Australia are focused on increasing awareness about telerehabilitation and its advantages.

Telerehabilitation Systems Market - Competitive Landscape

Key players operating in the Telerehabilitation Systems Market are Reflexion Health, Inc., 270 Vision Ltd., CoRehab srl, Hinge Health, Inc., SWORD Health, S.A., MIRA Rehab Limited, re.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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