Telerehabilitation Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Global Telerehabilitation Systems Market: Snapshot
The telerehabilitation systems market is estimated to observe promising growth on the back of the rising cases related to mental health and substance abuse. According to the World Health Organization (WHO), more than 180000 deaths were directly linked to drug use disorders in the year 2019. These alarming statistics reveal the need to control the fatalities due to substance and drug abuse. Based on these factors, the telerehabilitation systems market will observe exponential growth across the assessment period of 2018-2028.
Telerehabilitation systems are specially made for providing rehabilitation services online and enable the patients to interact with the providers remotely. The systems enable the healthcare professionals to assess the health of the patients and also advise them on the treatments and therapies accordingly.
The utilization of technology to ease the process of rehab is proving to be a boon for the patients and healthcare professionals altogether. The patient need not venture out and travel miles to meet his/her doctor and the doctor also can focus on other works while analyzing the patient. These benefits bode well for the growth of the telerehabilitation systems market.
The players are involved in research and development activities. These activities help in increasing the growth prospects of the telerehabilitation systems market. The players indulge in these activities for upgrading the systems and find ways to provide more convenience to the user through their devices. All these factors bring exponential growth to the telerehabilitation systems market.
The COVID-19 pandemic has strengthened the growth of the telerehabilitation systems market. Due to lockdown restrictions and strict stay-at-home orders, many healthcare professionals and patients are opting for telerehabilitation systems to undergo treatment for various diseases and disorders. In addition, the consumption of drugs and substances has increased at a rapid rate due to COVID-induced stress. This factor will also have a major role in accelerating the growth of the telerehabilitation systems market.
Global Telerehabilitation Systems Market: Overview
The global telerehabilitation systems market has grown steadily over the years, owing to the convenience it provides to the patients. Telerehabilitation system includes equipment for treating numerous programs such as substance abuse, mental health, and educational services for patients in care homes, mental hospitals, and rehabilitation centers. Such system helps many medical professionals in analyzing, consulting, supervising, and diagnosis of diseases. Telerehabilitation systems mainly relate to the delivered services by healthcare service providers in several medical branches such as physiotherapy.
From the perspective of product types, the global telerehabilitation systems market is bifurcated into hardware and software. Among these products, the hardware segment accounts for the largest share and is expected to boost the global telerehabilitation systems market during the forecast period. This is because of the rising demand for advanced platforms and systems in order to provide operational therapy, physical therapy, and robot-aided rehabilitation. However, the advent of advanced technologies is expected to drive the global telerehabilitation systems market to expand at a meteoric CAGR of 18% during the forecast period.
Growing Demand for Less-expensive Rehabilitation to Boost Market Growth
Rapid incorporation of technologies in the communication and information has moved ahead the telerehabilitation services over the telecommunication network. Telerehabilitation systems help in delivering real time rehabilitation services to the patients’ homes. Such service provide advantage to those patients who live far away from the rehabilitation centers. Such benefits are believed to be majorly driving the global telerehabilitation systems market. Furthermore, telerehabilitation systems is also cost-effective for both patients and healthcare providers as compared to in-clinic rehabilitation. This is because such systems can reduce the frequent visits to rehabilitation centers as the physicians are able to follow-up the patients after their discharge. Thus, such factors are also expected to fuel growth in the global telerehabilitation systems market.
Rapid Adoption of IoT and Sensors in Healthcare Fillips Telerehabilitation Systems Market
Due to the rising prevalence of various chronic disease worldwide, there is an increase in hospital overstays and patients visits. Some major factors such as staff deficiency and resource limitations are leading to overcrowding the emergency department. Such factors are highly compelling healthcare providers in adopting telerehabilitation systems for improving overall quality of services and achieving operational efficiencies. Such USPs are also expected to boost the global telerehabilitation systems market. Along with these, rapid adoption of advanced technologies, and rising adoption of sensors and IoT for monitoring patients effectively are also expected to propel growth in the global telerehabilitation systems market.
Poor Quality of Communication in Developing Regions Hinders market Growth
Lack of skilled insurance facilities in developing economies, high cost of the process, lack of skilled professionals, and poor communication quality in developing economies may hinder the growth of the global telerehabilitation systems market. Nonetheless, such deterrents may not impact the momentum expected in the global telerehabilitation systems market in the near term.
Global Telerehabilitation Systems Market: Notable Developments
Currently, in clinical practice of rehabilitation, there is an increasing integration of telecommunication tools. Growing adoption of home care settings by patients, and rising demand for reducing the hospital visits are also believed to propel the global telerehabilitation systems market. Rapid development of new and pioneering technologies are anticipated to modify the current clinical practice through making telerehabilitation systems an integral part of healthcare industry. Thus, increasing m-Health facilities are also anticipated to boost the global telerehabilitation systems market in the near future.
Global Telerehabilitation Systems Market: Regional Outlook
Geographically, North America is expected to lead the global telerehabilitation systems market as the region has seen rapid technological advancements. Rising expenditure in healthcare industry, burgeoning population suffering from various chronic diseases, the presence of advanced technology landscape across the healthcare sector could also be responsible for fueling growth in the telerehabilitation systems market in this region.
Global Telerehabilitation Systems Market: Competitive Landscape
Key players operating in the global telerehabilitation systems market include Honeywell International Inc, Cisco Systems, Rehametrics, and GESTURETEK.
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