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Telerehabilitation Systems Market by Product and Geography - Forecast and Analysis 2020-2024

  • Published: Oct 2020
  • Pages: 120
  • SKU: IRTNTR45442
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The telerehabilitation systems market size has the potential to grow by USD 329.69 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by product (hardware and software) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Cisco Systems Inc., CoRehab srl, Evolv Rehabilitation Technologies SL, GestureTek Health, High Tech Productions BV, Honeywell International Inc., Koninklijke Philips NV, MIRA Rehab Ltd., NeoRehab, and REHAMETRICS.COM.

Market Overview

Telerehabilitation Systems Market Size

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Market Competitive Analysis

The telerehabilitation systems market is concentrated. Existing regulatory controls in the IT industry may affect the entry of new entrants in the market. Cisco Systems Inc., CoRehab srl, and Evolv Rehabilitation Technologies SL are some of the major market participants. Market drivers such as the imbalance between high patient influx and understaffing at health centers will also offer immense growth opportunities. However, factors such as the complexities in implementation will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this telerehabilitation systems market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this telerehabilitation systems market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

 

  • Cisco Systems Inc.
  • CoRehab srl
  • Evolv Rehabilitation Technologies SL
  • GestureTek Health
  • High Tech Productions BV
  • Honeywell International Inc.
  • Koninklijke Philips NV
  • MIRA Rehab Ltd.
  • NeoRehab
  • REHAMETRICS.COM

 

Telerehabilitation Systems Market: Segmentation by Geography

Telerehabilitation Systems Market Market segmentation by region

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North America was the largest telerehabilitation systems market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The high vendor penetration, the growth in healthcare spending, the increase in healthcare research, the high disposable income, and the rising prevalence of geriatric population will significantly drive telerehabilitation systems market growth in this region over the forecast period.

32% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for telerehabilitation systems in North America. Market growth in this region will be faster than the growth of the market in Europe and MEA.

Telerehabilitation Systems Market: Segmentation by Product

Telerehabilitation Systems Market Segmentation

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The hardware segment comprises head-mounted displays (HMDs), sensor motion tracking systems, and haptic devices. The increasing demand for advanced platforms and systems to provide occupational therapy, physical therapy, and robot-aided rehabilitation will drive the hardware segment growth. As a result, vendors offer a wide range of telerehabilitation systems that can enable rehabilitation therapies and patient monitoring. Telerehabilitation is also considered the most appropriate response in the post-acute COVID-19 phase as it combines the need for rehabilitation, along with that of social distancing. It is generally adopted by post-COVID patients with mild to moderate disabilities, who need frequent monitoring, reside in isolated areas, and are not available to participate in standard programs. This report provides an accurate prediction of the contribution of all the segments to the growth of the telerehabilitation systems market size.

Telerehabilitation Systems Market: Key Drivers and Trends

There is an increase in patient visits and hospital overstays due to the high prevalence of chronic diseases. Also, the variability in patient inflow, staff deficiency, and resource limitations are factors that are leading to poor patient outcomes and overcrowding of the emergency department. This is compelling healthcare providers to adopt telehealth services such as telerehabilitation in the healthcare industry. Telerehabilitation solutions minimize human efforts, improve the overall quality of service, and help in achieving operational efficiencies in the healthcare sector. Therefore, the imbalance between high patient influx and understaffing at health centers is one of the critical reasons that will drive the telerehabilitation systems market.

The emergence of  Industry 4.0 healthcare companies is resulting in the adoption of advanced technologies. The increasing adoption of sensors and IoT to effectively monitor patients and provide treatment in real-time will drive the adoption of telehealth solutions such as telerehabilitation. This integration of virtual reality in healthcare processes creates an opportunity to gather data and generate insights via IIoT, which will stimulate the demand for these systems. Therefore, the advent of advanced technologies will drive the telerehabilitation systems market to grow at a CAGR of almost 23% during the forecast period.

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Telerehabilitation Systems Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive telerehabilitation systems market growth during the next five years
  • Precise estimation of the telerehabilitation systems market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the telerehabilitation systems industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of telerehabilitation systems market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2019
    • Market outlook: Forecast for 2019 - 2024

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Hardware - Market size and forecast 2019-2024
    • Software - Market size and forecast 2019-2024
    • Market opportunity by Product

    Customer Landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2019-2024
      • Europe - Market size and forecast 2019-2024
      • APAC - Market size and forecast 2019-2024
      • South America - Market size and forecast 2019-2024
      • MEA - Market size and forecast 2019-2024
      • Key leading countries
      • Market opportunity by geography
      • Market drivers – Demand led growth
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Cisco Systems Inc.
      • CoRehab srl
      • Evolv Rehabilitation Technologies SL
      • GestureTek Health
      • High Tech Productions BV
      • Honeywell International Inc.
      • Koninklijke Philips NV
      • MIRA Rehab Ltd.
      • NeoRehab
      • REHAMETRICS.COM

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
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      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
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      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      Telerehabilitation Systems market growth will increase by $329.69 million during 2019-2024.
      The telerehabilitation systems market is expected to grow at a CAGR of 22.60% during 2019-2024.
      Technavio has segmented the telerehabilitation systems market by product (Hardware and Software) and geographic (North America, Europe, APAC, South America, and MEA).
      Cisco Systems Inc., CoRehab srl, Evolv Rehabilitation Technologies SL, GestureTek Health, High Tech Productions BV, Honeywell International Inc., Koninklijke Philips NV, MIRA Rehab Ltd., NeoRehab, REHAMETRICS.COM are a few of the key vendors in the telerehabilitation systems market.
      North America will register the highest growth rate of 31.50% among the other regions. Therefore, the telerehabilitation systems market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      • US
      • China
      • Canada
      • UK
      • Australia
      • Germany
      The key factors driving the telerehabilitation systems market growth are:
      • Increasing incidence of chronic diseases
      • Advent of advanced technologies
      The telerehabilitation systems market vendors should focus on grabbing business opportunities from the hardware segment as it accounted for the largest market share in the base year.
      • What are the key global market and the regional market share?
      • What are the revenue-generating key market segments?
      • What are the key factors driving and challenging this market’s growth?
      • Who are the key market vendors and their growth strategies?
      • What are the latest trends influencing the growth of this market?
      • What are the variables influencing the market growth in the primary regions?
      • What are the factors influencing the growth of the parent market?
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