Press release
Virtual Rehabilitation Market To Boom With CAGR of 24.3% till 2030
The growth of the industry is primarily driven by the increase in the number of disabled people and rise in the usage of VR for the treatment of patients. The COVID-19 pandemic has also been a key driver in the development of the market all over the world.
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The pandemic has an impact on all aspects of people's lives, such as work, social engagement, and exercise. The VR technology has the capability to mitigate numerous challenges brought upon by the pandemic, which has encouraged an increase in the adoption of this technology. A large number of disabled people bought these devices amid the pandemic to be fit, as they were relatively more vulnerable to the virus. Consequently, a positive impact of the pandemic is evident in the virtual rehabilitation market growth.
As per the report of the WHO, about 15% of the world's population has some or the other disability, and among them, 2-4% have major difficulties in everyday motor functions. Furthermore, the CDC says that 1 in 4 U.S. adults, or a total of 61 million Americans, suffer from a disability that affects major life activities. With age, disability becomes a common factor, affecting about 2 in 5 adults aged 65 and more. The key advantage of virtual rehabilitation for the disabled is that they can engross themselves in a range of actions, relatively free from the confines imposed by their disability, and they can do that safely.
The virtual rehabilitation market is driven by the swelling use of virtual reality in treating patients with disabilities. This technology is being used in healthcare for diagnosis, therapy, and training purposes. With advanced technology and internet connectivity, the inclination toward it is predicted to advance more. VR alters patients' therapy sessions into a pleasurable experience, which inspires users to strive for better results via virtual goals and achievements, by popularizing rehabilitation activities in the virtual environment. Artificial intelligence (AI) software can provide thorough advice and encouraging support and overpower the need of a therapist in person, thus enabling a time-flexible, tailored therapy.
Europe is the fastest-growing region in the virtual rehabilitation market because of the increasing number of disability cases in the region. As per the Federal Statistical Office, in 2016, there were approximately 7.9 million severely disabled people in Germany, which was an increase of about 136,000, or 1.8%, from the end of 2017. Furthermore, according to the WHO, about 135 million people in Europe have a disability. And, with the population quickly aging and the prevalence of non-communicable diseases and injuries growing, this number is set to swell even more in the future.
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The largest share was with North America in 2021 because of the increasing government aid in the form of incentives, as well as product outsourcing activities. The market expansion in the region is also because of the expanding healthcare infrastructure and numerous rehabilitation support policies. Additionally, the existence of various players, including Gesture Tek Inc., Geminus-Qhom, Neuro Rehab VR, and Virtual ware Group, is quickening the virtual rehabilitation market growth.
Thus, the market is growing because of the increasing number of disabled people and the restricted patient-doctor interactions during the COVID-19 pandemic.
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