Telerehabilitation Market Expected to Grow Expeditiously: to Surpass USD 12.9 Billion by 2031, Report

The telerehabilitation market size was valued at $3.7 billion in 2021, and is estimated to reach $12.9 billion by 2031, growing at a CAGR of 13.5% from 2022 to 2031.

• CAGR: 13.5%
• Current Market Size: USD 3.7 Billion
• Forecast Growing Region: APAC
• Largest Market: North America
• Projection Time: 2022 – 2031
• Base Year: 2021

 

𝑹𝒆𝒒𝒖𝒆𝒔𝒕 𝑹𝒆𝒑𝒐𝒓𝒕 𝑺𝒂𝒎𝒑𝒍𝒆- https://www.alliedmarketresearch.com/request-sample/31902

 

Covid19 Impact on Telerehabilitation Market

The COVID-19 pandemic has had a significant impact on the telerehabilitation market, accelerating its growth and adoption in several ways:

1. Increased Demand for Remote Healthcare Services:

As lockdowns and social distancing measures were implemented globally to curb the spread of the virus, patients and healthcare providers turned to telehealth and telerehabilitation solutions to ensure continuity of care while minimizing physical contact. This surge in demand drove the expansion of telerehabilitation services.

1. Wider Acceptance Among Healthcare Providers:

The pandemic prompted many healthcare providers and institutions to quickly adapt to telehealth and telerehabilitation platforms to maintain patient care. This accelerated the acceptance of these technologies among healthcare professionals who were previously hesitant about using them.

 

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1. Regulatory Changes:

Governments and regulatory bodies in many countries relaxed regulations and reimbursement policies to facilitate telehealth and telerehabilitation services. This allowed for easier implementation and payment for these services, further incentivizing their adoption.

1. Technological Advancements:

The urgency of the pandemic led to rapid advancements in telehealth and telerehabilitation technologies. This included improvements in video conferencing platforms, remote monitoring devices, and data security measures.

1. Patient Comfort and Convenience:

Patients who may have been skeptical of telehealth and telerehabilitation services prior to the pandemic became more comfortable with these options as they experienced the convenience and safety they provided. Many patients appreciated the ability to receive care from the comfort of their homes.

1. Chronic Disease Management:

Telerehabilitation became an essential tool for managing chronic conditions, as it allowed patients to access regular check-ups and rehabilitation services without risking exposure to the virus.

1. Mental Health Support:

Telerehabilitation extended beyond physical therapy to include mental health services, as the pandemic increased the prevalence of mental health issues. Virtual therapy and counseling sessions became more widely accepted and accessible.

1. Long-Term Potential:

The pandemic highlighted the long-term potential of telerehabilitation as an integral part of the healthcare ecosystem. Even as the pandemic waned, many healthcare providers continued to offer telehealth and telerehabilitation services as a permanent option for patients.

1. Global Market Expansion:

The increased adoption of telerehabilitation during the pandemic transcended borders, leading to a global expansion of the market. Telehealth companies and platforms that offered telerehabilitation services saw significant growth in their user base.

 

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Telerehabilitation Market Players-

• American Well Corporation
• Care Innovations, LLC.
• Hinge Health, Inc.
• Humanus Corporation
• Included Health Inc. (Doctor on Demand, Inc.)
• Koninklijke Philips N.V.
• MIRA Rehab Limited
• NeuroTechR3, Inc.
• PT Genie
• UniQuest Pty Limited (NeoRehab)

 

KEY FINDINGS OF THE STUDY 

• Based on application, the physical therapy segment held largest share in the global market in 2021. However, speech therapy segment is anticipated to grow at the highest CAGR of 14.9% during the forecast period.
• On the basis of components, the services segment held largest market share in 2021 and is expected to remain dominant throughout the forecast period.
• Based on end user, the homecare segment dominated the market in 2021, and is expected to grow at a CAGR of 13.6% during the forecast period.
• Based on region, North America is expected to experience growth at the highest rate, registering a CAGR of 11.9% during the telerehabilitation market forecast.

 

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