Virtual Rehabilitation and Telerehabilitation Market

Global Virtual Rehabilitation and Telerehabilitation Market Size (2023 to 2028)

The global market size for virtual rehabilitation and telerehabilitation is predicted to grow from USD 258.2 million in 2023 to USD 648.4 million by 2028, registering a CAGR of 20.22% from 2023 to 2028.

Global Virtual Rehabilitation and Telerehabilitation Market Share Insights:

• Based on product, the physical segment had the leading share of the global market in 2022.
• Based on end-user, the rehabilitation centers segment held the major share of the global market in 2022.
• Based on region, North America was the regional market leader in 2022.

Rehabilitation centers are areas of expertise in helping disabled people regain the lifestyle and strength they require to continue with life. Different range of patients requires rehabilitation for various processes. For example, accident victims with lost limbs, patients with trauma, paralysis, stroke-induced paralysis, musculoskeletal problems, cognitive deficits and others often require the assistance of rehabilitation centers and continuous practice and assistance to continue their everyday lives. Virtual rehabilitation and telerehabilitation are the latest innovations in medicine that are a part of the IT growth of healthcare departments. These new services provide more comfort and exposure to the clients about the facilities and advanced treatments. The rapidly urbanizing world, growing use of the internet, rising disabilities, and awareness about rehabilitation all support the market's growth. However, the world's rehabilitation needs are largely unmet, especially in low and middle-income nations, and there is a need for awareness in the field. According to WHO, around 2.4 billion people worldwide are living in a health condition that may benefit from rehabilitation.

Impact of COVID-19 on the global virtual rehabilitation and telerehabilitation market:

The COVID-19 pandemic led to significant changes in the economic disposition of several markets due to the restrictions on sales and revenue. The growing stringent lockdowns and closure of many typical businesses led to the market's downfall and unemployment. However, the virtual rehabilitation and telerehabilitation markets have gained more momentum due to the pandemic. As the pandemic did not allow for the opening of any physical locations for rehabilitation procedures, the online mode of treatment and the introduction of IT advances into the healthcare industry supported this change. In addition, telemedicine and consultation through the mode of video calls, audio, apps, and multiple other formats to keep the patients updated significantly helped to keep the several branches of medicine alive. The branch of rehabilitation was not active at physical locations during the pandemic due to a preference for covid patients. Therefore, VR rehabilitation and telerehabilitation helped assist the patients during this period, as studies have shown that self-administered virtual rehabilitation is efficient, and telerehabilitation is an online mode of treatment. 

MARKET DRIVERS:

The rising cases of accidents and traumatic experiences, leading to more people opting for rehabilitation services, majorly propel the global virtual rehabilitation and telerehabilitation market. According to WHO, road accidents claim around 1.3 million lives yearly, and around 20 to 50 million people suffer from disabilities and injuries. Furthermore, accidents often leave severe physical and mental trauma to the patient, so the rehabilitation procedure can be essential to bringing back life for such survivors. Additionally, the growing geriatric population who lose movement in the body due to old age also requires rehabilitation assistance to support the market's growth. Additionally, older individuals are prone to more injuries due to their fragile bones and weak stature, leading to support for the market. Furthermore, the growing rates of chronic diseases and cardiac problems support the market's growth. According to WHO, annually, 15 million people suffer from strokes, further supporting the market growth. In addition, Telerehabilitation and VR rehabilitation can help recover from different types of problems, including neurological, cognitive, and physical, leading to support for market growth. 

The growing shift in the healthcare industry toward a more IT approach and the introduction of more online modes of assistance with rising comfort in home healthcare and telemedicine supports the growth of the market. The market growth is the rising awareness about virtual reality and its advantages in supporting various therapies. VR rehabilitation uses VR technologies like virtual reality goggles and AI to stimulate and advance the patient's rehabilitation process. It has been proven that VR has had excellent results on the mental health and will of the patient and helps pull the patient out of the trauma. VR has proven to be especially effective in patients with different fears like fear of heights, fear of flying, Vietnam syndrome, patients with chronic strokes, etc. It helps remove the psychological barrier of the brain, supporting the growth of the market. In addition, the growing rates of intensive surgeries and people recovering from such surgeries also require rehabilitation assistance, leading to market growth. 

Telerehabilitation or assistance through the Internet is essential, especially for people who suffer from motor disabilities and find it difficult to travel very often. The rising comfort of at-home service and internet penetration support the market's growth. Telerehabilitation coupled with VR rehabilitation is expected to bring about a new era of rehabilitation services that are more comfortable and efficient. Telerehabilitation removes time and distance restraints and can help provide the best physicians from far away without physically traveling to the doctor. Additionally, VR is a video game-type approach that helps the patient enjoy the rehabilitation time rather than viewing it as an exhausting exercise, supporting the growth of the market. VR has high data storage capability and helps keep transparency between the patient and the doctor through the availability of test progression on online portals. The most incredible difficulty with rehabilitation care is the ability of the clinician to maintain the patient's motivation and enthusiasm, and the VR systems help with this lack of initiative from the patient's side. 

MARKET RESTRAINTS:

The lack of skilled professionals and awareness regarding the field are substantial drawbacks to the market's growth. Additionally, the equipment for VR rehabilitation can be expensive, and tele and VR rehabilitation can be difficult to afford for several economic classes leading to restraint in market growth. Furthermore, the rising patient safety concerns regarding VR use further derail the market's growth. Additionally, the facilities of telerehabilitation are challenging to acquire and need to be present in rural areas, further constricting its reach. Additionally, the lack of credibility with online diagnosis and treatment procedures without the presence of a physician is a restraint to the market growth. 

REPORT COVERAGE:

This research report on the global virtual rehabilitation and telerehabilitation market has been segmented and sub-segmented based on product, end-user, and region.

Global Virtual Rehabilitation and Telerehabilitation Market - By Product:

• Physical Rehabilitation
• Neuro Rehabilitation
• Cognitive Rehabilitation
• Others

Based on product, the physical rehabilitation segment is expected to dominate the market during the forecast period due to the high requirement for this rehabilitation and increased focus on the development of new technologies for this rehabilitation. In addition, physical injuries are prevalent and can occur due to sports, pregnancy, giving birth, surgeries, chronic illnesses, etc., leading to more markets for the segment.

On the other hand, segments such as cognitive and neurorehabilitation are also expected to grow due to the rising need for better mental health and help with several disabled people ranging from kids to seniors.

Global Virtual Rehabilitation and Telerehabilitation Market - By End Use:

• Hospitals & Clinics
• Rehabilitation Centres
• Home Care Settings

Based on end-user, the rehabilitation centers segment is expected to dominate the market during the forecast period as it is the segment that is entirely focused on rehabilitation. It thus provides excellent services at less cost and faster recovery times. In addition, the rehabilitation centers are specialty care centers with highly qualified clinicians assisting the patients leading to more credibility for the segment supporting the growth.

The homecare segment is also expected to grow as telerehabilitation is a service administered online at the convenience of one’s own home, and self-administered virtual rehabilitation is also proven effective. In addition, the hospital segment is also growing as in-bed patients have to opt for hospital services while simultaneously receiving treatment leading to support for the segment.

Global Virtual Rehabilitation and Telerehabilitation Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

The virtual rehabilitation and telerehabilitation market in North America is expected to dominate during the forecast period due to the availability of advanced equipment and healthcare services and a digitalized society in the region. Furthermore, the market is expected to grow in countries like the US and Canada due to the rising cases of chronic illnesses and increased funding for advancing healthcare facilities in the region. The North American market is growing as it has high awareness regarding the benefits of virtual rehabilitation and telerehabilitation. Additionally, the presence of several key players in the region and the rising manufacturing and R&D activities support the market's growth.

The market in Asia-Pacific is also expected to grow due to the rapidly advancing healthcare systems and more patients with disability and chronic diseases supporting the market growth in the region. Additionally, many Asian countries like India, China, Japan, South Korea, etc., being heavily populated, support the growth of the market. Additionally, the growing awareness about the advantages of virtual rehabilitation and telerehabilitation in the region and the growing internet penetration support the market's rise in the region. Furthermore, the growing awareness regarding the importance of healthcare, especially in low and middle-income countries, drives market demand.

The virtual rehabilitation and telerehabilitation market in Europe is also expected to grow during the forecast period due to the presence of good healthcare infrastructure and advanced technologies in the region. Additionally, the high rates of approvals for virtual rehabilitation procedures and equipment by the EU in the region lead to growth in the market.

KEY MARKET PARTICIPANTS:

GestureTek Health, Brontes Processing, Motekforce Link, Virtualware Group, Motorika, Bridgeway Senior Healthcare, LiteGait, mindmaze, Doctor Kinetic, Geminus-Qhom and Rehametrics (NeuroAtHome) are some of the notable companies in the global virtual rehabilitation and telerehabilitation market.

RECENT HAPPENINGS IN THIS MARKET:

• In May 2023, adaptor-associated protein kinase 1 (AAK1) small molecule inhibitor LX9211 (Lexicon) is being researched as a non-opioid target for treating neuropathic pain. Anand Patel, MD, CPI, the principal investigator, presented the findings as an abstract display at the Boston, Massachusetts, American Academy of Neurology (AAN) Annual Meeting from April 22–27.
• In May 2023, for its ground-breaking wearable device PHEEZEE®, Startoon Labs Private Limited, a Hyderabad-based ISO 13485:2016 and ISO 9001:2015 Certified medical device R&D, engineering, and manufacturing company, received US FDA (The US Food and Drug Administration) (510 K Exempt) clearance.
• In November 2022, the first complete body, non-tethered immersive healthcare service for rehabilitation has been introduced by Penumbra, Inc., a global healthcare company focused on cutting-edge therapies. The most recent REAL y-Series device enables physicians to monitor entire body movement and real-time progress through upper and lower body sensors.