Virtual Reality for Rehabilitation Market 2024 To See Huge Growth by 2030 | Cognate Life Sciences

The Latest Research Report on Virtual Reality for Rehabilitation Market 2024 covering the micro level of analysis by competitors and key business segments. The Global Virtual Reality for Rehabilitation explores an inclusive study on various segments like growth drivers, opportunities, market size, shares, development, innovation, sales, and overall growth of major key players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing.

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Major Major Players are:

MindMaze (Switzerland), Neuro Rehab VR (United States), Oxford VR (United Kingdom), AppliedVR (United States), Limbix (United States), Virtually Better (United States), MIRA Rehab Limited (United Kingdom),Virtual Rehab (United States), XRHealth (United States), C2Care (France)

Market Size and Overview:

In 2022, the Global Virtual Reality for Rehabilitation Market was valued at $135.2 million, and is projected to reach a market size of $371.03 million by 2030. Over the forecast period of 2023-2030, market is projected to grow at a CAGR of 13.45%.

Virtual reality (VR) technology plays a significant role in the healthcare sector, aiding in diagnosis and treatment across surgery, rehabilitation, and counseling. It establishes an immersive three-dimensional environment, enabling realistic simulations of diverse scenarios. In rehabilitation, VR proves beneficial for patient movement and exercise, offering opportunities beyond conventional physical therapy. Patients can actively participate in the virtual environment, diverting attention from physical discomfort and enhancing goal achievement. This technology brings advantages such as flexibility, patient education, motivation, transparent data storage, accessibility, reduced medical costs, and optimized resource utilization. VR facilitates the simulation of real-life activities, assisting stroke patients in enhancing self-care skills and fostering a motivational environment for consistent movement practice. In pain management, VR aids in overcoming sensations of pain, potentially reducing the need for painkillers. In cancer rehabilitation, VR contributes to pain reduction while enhancing memory, vision, and overall well-being. Immersive distraction interventions, like VR rehabilitation, create therapeutic settings, making chemotherapy more tolerable.

Global Virtual Reality for Rehabilitation Market Drivers:

The surge in the number of individuals with disabilities is propelling the expansion of the global virtual reality for rehabilitation market.

While many enterprises leverage virtual reality as an engaging marketing tool, the technology holds practical potential to enhance and support individuals with disabilities in their recovery, exploration, and various activities. It also aids businesses in better understanding the needs of disabled individuals, fostering greater inclusion. According to the World Health Organization (WHO), approximately 15% of the global population lives with some form of disability, with 2-4% facing significant challenges in functioning. As individuals age, disabilities become more prevalent, affecting about two in five adults aged sixty-five and older. A key advantage of virtual rehabilitation for disabled individuals is the ability to engage in a variety of activities on a simulator, largely free from the constraints imposed by their disability and in a safe environment. Hence, this factor propels the demand for virtual reality for rehabilitation.

Increasing government investments in healthcare infrastructure represent another factor contributing to the growth of the global virtual reality for rehabilitation market.

Governments worldwide are increasingly recognizing the potential benefits that virtual reality brings to the recovery of individuals with disabilities. Consequently, substantial investments are being made in the development and implementation of virtual reality solutions within healthcare facilities. This, too, contributes to driving demand for the global virtual reality for the rehabilitation market.

Global Virtual Reality for Rehabilitation Market Challenges:

The global virtual reality for rehabilitation market faces challenges, primarily concerning the presence of alternative technologies. Virtual reality (VR) is not the sole prevailing technique aiding patient recovery in the market. The existence of other technologies providing effective recovery options is constraining the market's growth during the forecast period. Alternative, more natural, and affordable recovery methods are also impeding the market's growth.

Global Virtual Reality for Rehabilitation Market Opportunities:

The substitution of conventional rehabilitation methods with VR-based rehabilitation presents a lucrative opportunity in the global virtual reality for rehabilitation market. The incorporation of virtual reality into rehabilitation methods tends to significantly reduce hospital costs. Clinical trials have shown that implementing a VR rehabilitation program in an ongoing setting result in higher expense reduction per patient compared to conventional methods.

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Market Segmentation are:

By Type (Cognitive Rehabilitation, Neurorehabilitation, and Physical Rehabilitation); End-User (Homecare Settings, Hospitals, Rehabilitation Centers, and Clinics); and Region - Size, Share, Growth Analysis | Forecast (2023 2030)

Virtual Reality for Rehabilitation insights, overview and deep study of factors are considered to have greater influence over future course of the industry such as market size, market share, different dynamics of the industry, Virtual Reality for Rehabilitation market companies, regional analysis of the domestic markets, value chain analysis, consumption, demand, key application areas and more.

NOTE: Our report highlights the major issues and hazards that companies might come across due to the unprecedented outbreak of COVID-19.

How will this report benefit potential stakeholders?
-Comprehensive assessment of all opportunities and risks in the Virtual Reality for Rehabilitation market.
-The detailed study of business strategies for the growth of the Virtual Reality for Rehabilitation market-leading players.
-Conclusive study about the growth plot of the Virtual Reality for Rehabilitation market for forthcoming years.
-In-depth understanding of Virtual Reality for Rehabilitation market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Virtual Reality for Rehabilitation market.

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What Virtual Reality for Rehabilitation Market report offers:
1.Virtual Reality for Rehabilitation Market share assessments for the regional and country-level segments
2.Market share analysis of the top industry players
3.Virtual Reality for Rehabilitation Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
4.Strategic recommendations in key business segments based on the market estimations
5.Competitive landscape covering following points: Company Overview, Product Portfolio, Financial Performance, Recent Highlights, Strategies

COVID-19 has had a major impact on the world economy in addition to that on the public health. This particular pandemic had caused severe economic destruction and not a single country has been left unaffected. The virus has forced businesses around the globe to change the way they operate. This report gives an analysis of the COVID-19 aftermath on Virtual Reality for Rehabilitation market.

Competitive Rivalry:

The report highlights vital details based on the leading players in the global Industrial Virtual Reality for Rehabilitation market. It features their details such as product/business portfolio, market share, financial status, regional share, segment revenue, SWOT analysis, manufacturing base, capacities, production volume, major vendors, raw material sourcing strategies, organizational structure. Their latest corporate deals, joint ventures, mergers and acquisitions, product launches, and other brand promotions are other facts about the market players included in the report.

We also offer customization on reports based on specific client requirement:

1- country-level analysis for any 5 countries of your choice.
2- Competitive analysis of any market players.
3- 40 analyst hours to cover any other data points

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Finally, Virtual Reality for Rehabilitation Market is a valuable source of guidance for individuals and companies in decision framework.

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Cognate Lifesciences is a specialized hub for all market research reports related to Lifesciences Market. Some of the sub domains covered by our team are Pharmaceuticals, Medical Devices and Supplies, Healthcare, Diagnostics, Biotech, Therapeutics, Healthcare IT etc. We offer syndicated/customized market research studies along with advisory and consulting services.

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