Portland, OR, Nov. 17, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global telerehabilitation market generated $3.7 billion in 2021, and is projected to reach $12.9 billion by 2031, growing at a CAGR of 13.5% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $3.7 billion |
| Market Size in 2031 | $12.9 billion |
| CAGR | 13.5% |
| No. of Pages in Report | 253 |
| Segments Covered | Application, component, end-user, and region. |
| Drivers | Surge in demand for mobile technologies |
| Increase in the adoption of home care patients | |
| Opportunities | Reduction in the number of hospital visits |
| Exponential rise in internet penetration | |
| Restrains | Poor Infrastructure and technological barrier in underdeveloped countries |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global telerehabilitation market, owing to the irregular workflows in most hospitals and clinics and surge in the number of COVID-19 cases in various countries across the globe.
- Lockdowns resulted in the delay or cancellation of non-emergency treatments or surgeries in hospitals, which subsequently increased the demand for telerehabilitation during the pandemic.
- These lockdown restrictions were imposed by the government of various countries so as to curb the spread of the virus during the pandemic.
- Thus, the demand for virtual consultations and remedies surged exponentially, and is further expected to grow in the coming years.
The report offers detailed segmentation of the global telerehabilitation market based on application, component, end-user, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
Based on application, the physical therapy segment held the dominating market share in 2021, holding more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The speech therapy segment, on the other hand, is expected to cite the fastest CAGR of 14.9% during the forecast period.
Based on component, the services segment held the dominating market share in 2021, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 13.9% during the forecast period. The report also analyses the products segment.
Based on end-user, the homecare segment held the dominating market share in 2021, holding more than half of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 13.6% during the forecast period. The report also analyses the healthcare providers segment.
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Based on region, the market across North America held the largest market share in 2021, holding more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 16.0% during the forecast period.
The key players analyzed in the global telerehabilitation market report include American Well Corporation, Hinge Health, Inc., Humanus Corporation, Included Health, Inc. (Doctor on Demand, Inc.), Care Innovations, LLC., Koninklijke Philips N.V., MIRA Rehab Limited, NeuroTechR3, Inc., PT Genie, UniQuest Pty Limited (NeoRehab).
The report analyzes these key players in the global telerehabilitation market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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