The global Telerehabilitation Systems Market is estimated to be valued at US$254.6 Mn or Mn in 2023 and is expected to exhibit a CAGR of 14 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Telerehabilitation systems enable remote delivery of rehabilitation services such as physiotherapy, occupational therapy, and speech therapy using telecommunication and digital technologies. These systems provide monitoring, diagnostic, and therapeutic sessions through audio and video conferencing, delivering effective therapies.
Market key trends:
The increasing geriatric population and rising cases of chronic diseases such as Parkinson’s disease, stroke, and arthritis are fuelling the demand for telerehabilitation systems globally. As per the United Nations, the number of people aged 60 years or over is expected to more than double by 2050 and reach nearly 2.1 billion. Moreover, telerehabilitation allows continuum of care and improves accessibility of therapies in remote locations, thereby enhancing patient compliance and experience. The adoption of digital health technologies and integration of artificial intelligence and virtual reality in telerehabilitation is also creating opportunities for vendors in the market. However, lack of awareness regarding telehealth solutions and reimbursement concerns among patients and payers are some of the challenges impeding the market growth.
Market key trends:
One of the key trends in the telerehabilitation systems market is the increasing adoption of virtual reality and augmented reality technologies. VR and AR help enable remote therapy and rehabilitation services by creating 3D interactive Virtual environments. Through VR headsets, patients can experience simulated real-world activities and therapies from the comfort of their home. This helps improve engagement for post-injury patients and overall rehabilitation outcomes. With the help of motion sensors and VR simulations, patients can easily do repetitive physical exercises and monitor their progress regularly with a clinician.
SWOT Analysis
Strengths:
– Enables convenient remote care delivery and post-discharge care management.
– Reduces healthcare costs by lowering readmission rates and shortening hospital stays.
Weaknesses:
– Requires high speed internet connectivity for live video sessions which can be an issue in rural areas.
– Lack of physical interaction between patient and clinician.
Opportunities:
– Growing geriatric population and rising cases of chronic diseases will drive demand.
– Increased healthcare investments in telemedicine infrastructure post-COVID.
Threats:
– Data privacy and security concerns regarding patient health records.
– Resistance from certain patients and clinicians regarding virtual care.
Key Takeaways
The global telerehabilitation systems market size was valued at US$ 254.6 Million in 2023 and is expected to reach over US$ 2.7 Billion by 2030, expanding at a CAGR of 14%. The increasing prevalence of chronic diseases, rise in road accident victims needing rehabilitation, and growing geriatric population are expected to propel the demand.
Regionally, North America accounted for the largest share in the telerehabilitation systems market in 2023 due to high healthcare expenditure and availability of advanced healthcare facilities. Asia Pacific is projected to witness the fastest growth during the forecast period driven by growing medical tourism, increasing awareness about telemedicine, and rising incidence of road accidents in developing countries.
Some of the key players operating in the telerehabilitation systems market growth are Reflexion Health, Inc., 270 Vision Ltd., CoRehab srl, Hinge Health, SWORD Health, MIRA Rehab Limited, Flex, Neuro Rehab VR, Evolv Rehabilitation Technologies SL, Yancheng Tianrun Medical Technology Co., Ltd, Tyromotion Gmbh, Brontes Processing Ltd., Bridgeway Senior Healthcare, Rehametrics, Geminus-Qhom, MindMaze, DIH Medical, and Doctor Kinetics. These vendors offer customized teleconsultation and remote monitoring solutions integrated with VR/AR technologies to support post-injury rehabilitation. With advancements in 5G and IoT, new opportunities are expected to emerge in the market over the forecast period.
