Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Rehabilitation is defined as a set of mediations which is designed for optimize functioning and recuse disability in the individuals with various health conditions in interaction with their environments. Medical rehabilitation services facilitate speedy and maximum recuperation before or during rehabilitation employment comprising physical, psychological or emotional assessments, therapy, treatment and conditioning. There are three main types of rehabilitations such as occupational, physical and speech. Each of them serves a unique purpose but the ultimate goal of each is help the patient for return into healthy and active lifestyles.
The virtual rehabilitation and telerehabilitation market is anticipated to grow at CAGR of 19.06% during forecast period of 2021 to 2027. The rising use of information technology in healthcare is gaining attention of virtual rehabilitation and telerehabilitation market. The dynamic factors like low price of virtual rehabilitation and telerehabilitation is propelling growth of virtual rehabilitation and telerehabilitation market. The rising adoption of virtual rehabilitation and telerehabilitation is also refuelling growth of virtual rehabilitation and telerehabilitation market. However, lack of awareness amongst the healthcare professionals about virtual rehabilitation and telerehabilitation is hindering the growth of virtual rehabilitation and telerehabilitation market.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the virtual rehabilitation and telerehabilitation market. In addition, complete analysis of changes on virtual rehabilitation and telerehabilitation expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on Global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The rising prevalence of COVID-19 in many countries is the key factor propelling growth of virtual rehabilitation and telerehabilitation market. Also, the necessity to maintain social distancing as preventive measure against the COVID-19 is refuelling growth of healthcare IT industries. Likewise, need for digitalization in healthcare field is boosting the growth of healthcare IT solutions. The COVID-19 pandemic situation has increased the surge to use internet as many people are working from home, which is impacting positively on the virtual rehabilitation and telerehabilitation market.
The virtual rehabilitation and telerehabilitation market is segmented by product type, end user and geography.
Based on product type, virtual rehabilitation and telerehabilitation market is segmented as physical rehabilitations, neuro rehabilitations, cognitive rehabilitation and other rehabilitations. In which physical rehabilitation is expected as dominating segment of market in 2020. Owing to rising focus of manufacturers for development devices for physical rehabilitations the virtual rehabilitation and telerehabilitation market is propelling growth. The rising regulatory approvals for physical rehabilitation system is also refuelling the growth of virtual rehabilitation and telerehabilitation market.
Based on end users, virtual rehabilitation and telerehabilitation market is bifurcated as hospitals & clinics, rehabilitation centres and home care settings. In which rehabilitation centres is estimated as dominating segment of virtual rehabilitation and telerehabilitation market in 2020. Owing to rise in patient footfall the virtual rehabilitation is witnessing growth. The rising prevalence of disability among the population is also propelling growth of virtual rehabilitation and telerehabilitation market. The low price of virtual rehabilitation and telerehabilitation is also boosting adoption of virtual rehabilitation and telerehabilitation systems which is also contributing in the growth of virtual rehabilitation and telerehabilitation market.
Geographically, virtual rehabilitation and telerehabilitation market is studied for key regions such as North America, Europe, Asia Pacific and Rest of the World. In which North America is anticipated to dominate the market in 2020. Owing to presence of big and well-established market players the virtual rehabilitation and telerehabilitation market is witnessing rapid growth. The developed healthcare infrastructure is also refuelling growth of virtual rehabilitation and telerehabilitation market. Additionally, favourable policies by government is also contributing in the growth of virtual rehabilitation and telerehabilitation market.
The key players in the virtual rehabilitation and telerehabilitation market are 270 Vision Ltd., Corehab Srl, Brontes Processing, Hinge Health Inc., Sword Health Inc., Mira Rehab Limited, Bridgeway Senior Healthcare, Motek Medical B.V., Gesturetek Inc., Geminus-Qhom, Rehametrics, Virtualware Group, Motorika Medical Ltd., Neuro Rehab Vr, Litegait, Doctor Kinetic and Mindmaze among other.
August 2019: Ekso Bionic Holdings launched their EksoView. EksoView is a touch screen controller which allows therapist to provide assistance to disable peoples using real time feedback and perform analysis of outcomes with the help of EksoNR.
June 2019: Reflexion Health, Inc. granted the U.S. FDA 510(k) approval for the use of their Virtual Exercise Rehabilitation Assistant (VERA) which is a digital physical therapy platform in ‘rehabilitating the trunk and upper extremities’.
March 2019: Neuro rehab VR, a US based company in collaboration with the University of Texas at Arlington Research Institute (UTARI) for development of flexible soft robotic gloves which help in rehabilitating stroke patient through virtual rehabilitation gaming.
March 2018: Reflexion Health Inc., a US based digital health solution company, launched their next-gen solution, names as VERAhome and VERAClinic for patient and clinicians.
The study comprised of virtual rehabilitation and telerehabilitation market. In which study analysed various segments of market such as product type and end users. The study also impart dominating segment of the market. In 2020, product type segment is dominated by physical rehabilitation. Likewise, end user segment in dominated by rehabilitation centres. The study also comprised of geographical section of the market. In which, the North America is anticipated to dominate the market in 2020. The study also imparts the impact of COVID-19 on virtual rehabilitation and telerehabilitation market and study concludes that the rising prevalence of COVID-19 in many countries is the key factor propelling growth of virtual rehabilitation and telerehabilitation market. Also, the necessity to maintain social distancing as preventive measure against the COVID-19 is refuelling growth of healthcare IT industries. Likewise, need for digitalization in healthcare field is boosting the growth of healthcare IT solutions. The COVID-19 pandemic situation has increased the surge to use internet as many people are working from home, which is impacting positively on the virtual rehabilitation and telerehabilitation market. The study also imparts the major key players operating in the market.
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