The global telerehabilitation market size is poised to rise remarkably in the coming years attributable to the technological advancements in the field of healthcare services in collaboration with information, technology, and communications. Telerehabilitation is a medical service for people preferring to stay at home and avail treatment and services. As per a recent report by Fortune Business Insights, titled, “Telerehabilitation Market Size, Share and Industry Analysis By Type (Products, Services), By Application (Occupational Therapy, Physical Therapy, Chronic Diseases, and Others), By End-User (Healthcare Facilities and Homecare); and Regional Forecast, 2021-2028,” the market value stood at USD 3.32 billion in 2019 and is expected to rise at a CAGR of 13.4% to reach USD 9.13 billion by 2028. The forecast period is set between 2021-2028.
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Services Segment to Gain Significant Position Owing to Increasing Number of Service Providers:
Based on segmentation by type, the services segment dominated the market in 2019 on account of the rising adoption of telerehabilitation services and the increasing number of service providers.
North America Earned Dominance Owing to Presence of Advanced Healthcare Technologies
North America earned the highest telerehabilitation market share on account of the rising adoption of telehealth services, presence of advanced medical services, and increasing inclination towards virtual consultation. This, coupled with the increasing number of geriatric population, their vulnerability to various diseases, and a rise in the number of e-visits are likely to help this region continue dominating the market in the coming years.
Companies Entering into Joint Ventures for Gaining Momentum in Market Competition
Currently, a few companies are dominating the market. These include Hinge Health Inc., Doctor on Demand, and American Well. This is accountable to the huge client base they have and the increasing number of online consultations. Other players are engaging in contracts and agreements, joint ventures, mergers and acquisitions, and other collaborative efforts to gain a competitive edge in the market.
Major Industry Developments of the Market for Telerehabilitation Include:
January 2019 – The 3.0 version of PHZIO Digital treatment platform was launched by eWellness Healthcare Corporation for telehealth and physiotherapy markets.
April 2018 – TheraNow, a new telerehabilitation platform for connecting physical therapists with their patients via teretherapy was launched by Thera Inc.
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As per Fortune Business Insights™, some of the significant players in the market for telerehabilitation include:
MIRA Rehab Limited (UK)
Continued. . .
Related Article @ https://marketresearchreportsfbi.wordpress.com/2021/10/29/medical-equipment-financing-market-by-share-size-segmentation-revenue-analysis-forecast-2028/
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