Dublin, March 02, 2023 (GLOBE NEWSWIRE) -- The "Virtual Rehabilitation Market Report: By Type, End User - Revenue Estimation and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global virtual rehabilitation market is projected to reach $2,312.3 million by 2030 from $325.6 million in 2021, at a CAGR of 24.3% during 2021?2030, according to the market research report . The expansion of the industry is mainly credited to the growth in the disability prevalence and rise in the usage of virtual reality in treating patients.
VR technologies are evolving to be more economical and accessible, and, as a result, their usage for rehabilitation is growing. Key companies offering virtual rehabilitation solutions include CoRehab srl, Neuro Rehab VR, Virtualware Group, Geaturetek Inc., Motek Medical B.V., Bridgeway Senior Healthcare, MIRA Rehab Limited, SWORD Health Inc., Hinge Health Inc., and Brontes Processing.
Market Dynamics
Trends
- Use of VR in the Treatment of Patients
- Product Launches and Acquisitions
Drivers
- Increasing Role of Connected Devices in Healthcare
- Surging Usage of VR Technology for Patient Care
- Rising Adoption of Assistance and Prosthetic Devices
- Impact Analysis of Drivers on Market Forecast
Restraints
- Requirement of Uninterrupted Power and High-Speed Networks
Key Findings of Virtual Rehabilitation Market Report
- Disabled people adopted these devices on a large scale during the COVID-19 pandemic, as they were extra vulnerable to the coronavirus. Therefore, a favorable effect of the pandemic has been the virtual rehabilitation market expansion.
- The WHO reports that approximately 15% of the global population lives with some kind of disability, whereas 2-4% experiences significant difficulties in daily physical tasks. Further, as per the CDC, 1 out of 4 U.S. adults, or over 60 million Americans, have a disability.
- Moreover, as per the Federal Statistical Office, in 2016, there were nearly 7.9 million disabled people in Germany, which was a rise of 1.8% from the end of 2017. Moreover, the WHO reported that about 135 million people in Europe live with some form of disability.
- The prime advantage of virtual rehabilitation for people who are disabled is that they are free from the limitations imposed by their disability and can engage in a range of activities on a simulator, far from harm.
- In 2021, rehabilitation centers and clinics contributed above 40% of the revenue to the virtual rehabilitation market, as patients can interact with the trainer directly, which allows them to familiarize with the virtual rehabilitation process with ease, which improves the chances of recovery.
- In September 2021, Hinge Health Inc. acquired wrnch, a developer of computer vision software for analyzing human movement. This purchase was aimed at allowing Hinge Health to provide personalized and comprehensive digital physical therapies.
- In 2017, there were about 2 million non-Google VR devices operational, and a staggering 37 million devices were in use at the end of 2020. The industry is still in its initial stages, and more than 135 million such devices are expected to be in use by 2025, which hints at a vast virtual rehabilitation market growth potential.
VR is increasingly being used in physical therapy as it allows patients to perform a variety of exercises, from general orthopedic ones to specialized ones for recovering from injury. These exercises can be customized to certain age groups, such as for assisting older patients in preserving their agility and toddlers in developing motor skills.
| Report Attribute | Details |
| No. of Pages | 102 |
| Forecast Period | 2021 - 2030 |
| Estimated Market Value (USD) in 2021 | $325.6 Million |
| Forecasted Market Value (USD) by 2030 | $2312.3 Million |
| Compound Annual Growth Rate | 24.3% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Definition of Market Segments
4.1 By Type
4.1.1 Physical Rehabilitation
4.1.2 Neurorehabilitation & Cognitive Rehabilitation
4.2 By End User
4.2.1 Hospitals
4.2.2 Rehabilitation Centers and Clinics
4.2.3 Homecare Settings
Chapter 5. Industry Outlook
Chapter 6. Global Market Size and Forecast
Chapter 7. North America Market Size and Forecast
Chapter 8. Europe Market Size and Forecast
Chapter 9. APAC Market Size and Forecast
Chapter 10. LATAM Market Size and Forecast
Chapter 11. MEA Market Size and Forecast
Chapter 12. Competitive Landscape
Chapter 13. Company Profiles
Chapter 14. Appendix
Companies Mentioned
- CoRehab srl
- BRONTES PROCESSING Sp. z o.o. (Ltd.)
- Hinge Health Inc.
- Sword Health Inc.
- MIRA Rehab Limited
- Bridgeway Senior Healthcare
- Motek Medical B.V.
- GestureTek Health
- Virtualware
For more information about this report visit https://www.researchandmarkets.com/r/rccyfq
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