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Virtual Rehabilitation and Telerehabilitation Systems Market 2021 Benefits and Challenges With Top Players Reflexion Health, 270 Vision Ltd., CoRehab srl, Hinge Health, SWORD Health, S.A.

07-22-2021 09:43 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent Market Insights

Virtual Rehabilitation and Telerehabilitation Systems Market

Virtual Rehabilitation and Telerehabilitation Systems Market

Virtual rehabilitation and telerehabilitation system is an equipment used for treatment in substance abuse, and application in educational services and mental health programs. Telerehabilitation services help medical professionals to analyze, supervise, consult, and diagnose diseases. Telerehabilitation services can be provided by healthcare service providers in medical branches such as physiotherapy.

The usage of virtual rehabilitation and telerehabilitation systems is less expensive for both healthcare providers and patients as compared to conventional in-clinic or person-to-person rehabilitation. For instance, according to the data published by American Congress of Rehabilitation Medicine (ACRM), in 2015, in-clinic intervention resulted in more expenses than the telerehabilitation intervention (US$ 654.72 per person). Hence, low price of virtual rehabilitation and telerehabilitation systems is expected to increase adoption of these systems and in turn propel the market growth over the forecast period.

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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.

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.

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Top Key Players:

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.

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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

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