TELEREHABILITATION SERVICES MARKET ANALYSIS

Telerehabilitation is the delivery of rehabilitation services over telecommunication networks and the internet. The medical service uses the application of telecommunication to provide medical support via telecom or digital media, intervention and assessment to individuals with specific disorder. Telerehabilitation provides a diversity of clinical applications including the facility of assistive technology, teleconsultation by psychiatrist, remote therapy using tools, and others. Telerehabilitation services are needed for assessment, monitoring, consultations, diagnosis, and to manage therapies or to propose interactive therapies or therapeutic settings. 

The Global Telerehabilitation Services Market is estimated to be valued at US$ 357.5 million in 2020 and is expected to exhibit a CAGR of 15.0% % during the forecast period (2020-2027).

Figure 1.Global Telerehabilitation Services Market Share (%) in Terms of Value, By Service Type 2019

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Launches and approval of novel virtual rehabilitation and telerehabilitation solutions are expected to drive the market growth during the forecast period.

Key players in the market are involved in developing novel rehabilitation solutions is expected to drive the market growth during the forecast period. For instance, In June 2016, Flexpoint Sensor Systems, Inc. launched 'Gloreha Sinfonia', an advanced, next generation medical rehabilitation technology. It includes Gloreha Hand Rehabilitation Glove, Sinfonia, DAS – Dynamic Arm Support, Workstation, and the innovative Virtual Reality Rehabilitation and customized, Therapy Management software.

Figure 2.Global Telerehabilitation Services Market Share (%), By End user, 2019

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Development of novel systems for providing rehabilitation services are expected to drive the market growth during the forecast period.

Development of novel systems for providing rehabilitation services is expected to drive the market growth during the forecast period. For instance, in July 2019, PT Genie, a digital health company, introduced PT Genie, a wearable device that keeps patients connected with their physical therapist remotely. PT Genie provides real-time feedback and an ongoing connection between patient and therapist to ensure that the exercise protocol is helping the patient recover.

Global Telerehabilitation Services Market – Impact of Coronavirus (COVID-19) Pandemic

The rapid global spread of COVID-19 is challenging healthcare systems worldwide in terms of healthcare planning, infrastructure, and finances. Healthcare professionals are forced to treat severely ill patients with limited access to ventilation equipment, qualified intensive care personnel or protective patient monitoring devices.

Since December 2019, the novel coronavirus spread throughout China and across the world, causing a continuous increase in confirmed cases within a short period of time. The disease has spread to more than 200 countries across the globe with the World Health Organization declaring it as a public health emergency. For instance, according to the WHO Coronavirus (COVID-19) dashboard, the manifestation of the coronavirus disease has resulted in more than 143 million infected individuals worldwide as of April 21st 2021. The COVID 19 pandemic and lockdowns in various countries across the globe has impacted the financial status of businesses across all sectors. The private healthcare is one of the sectors which has been majorly impacted by the COVID-19 pandemic. The lockdown in various countries has created an economic burden on the private healthcare sector. Healthcare providers faced many challenges with regards to manpower, equipment, and other resources to ensure safety in the treatment of patients with other diseases, the pandemic also resulted in declining outpatient visits at the hospitals and clinics. Moreover, the coronavirus pandemic has negatively impacted the development and supply of essential services, and affected growth of the healthcare businesses of various companies across the globe. This has led to closure of industrial establishments, except manufacturing of essential commodities and disruption in supply chain of products and services.

Global Telerehabilitation Services Market: Restraint

The major factors that hinder growth of the global telerehabilitation services market include limited awareness and lack of skilled professionals. Rural areas belonging to emerging economies such as Africa and Asia Pacific has very low awareness about such novel technologies, which is expected to be a major reason leading to slow adoption of virtual rehabilitation and telerehabilitation systems in such regions, thereby hindering the market growth.

Key Players

Major players operating in the global telerehabilitation services market are MTI America, UnaliWear Inc., Virtual Physical Therapists, Conversa Health, Rehab Management Pty Ltd, MindStreet Inc., MedRisk, NeoRehab, Global Outreach TeleRehabilitation Services, Inc., and Empatha