Telerehabilitation Market Size, Share and Covid-19 Impact 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, 2020-2032

The global telerehabilitation market size was valued at USD 3.32 billion in 2019 and is projected to reach USD 17.62 billion by 2032, exhibiting a CAGR of 13.7% during the forecast period from 2020–2032. North America dominated the global market with a share of 33.73% in 2019.

Telerehabilitation, also known as e-rehabilitation, is a modern form of rehabilitation service that is delivered over interactive devices. It can address a wide spectrum of health ailments, from minor health issues to emergency medical conditions. Other forms of this technology includes speech and language therapy, neurophysiology, and audiology. It is especially beneficial for people living in rural or remote areas. Growing geriatric population, increasing patient pool of chronic diseases, rising demand and preference for virtual rehabilitation, and strategic partnerships and acquisitions to meet the growing demand are some of the factors contributing to the growth of the market during the forecast period. For instance, in October 2016, Zimmer Biomet Holdings, Inc. acquired Respond Well, an award-winning telerehabilitation technology designed to provide conventional in-clinic post-surgical physical therapy in the comfort of a patient’s home.

Demand for Telerehabilitation to Proliferate Amid COVID-19 Pandemic

During this global pandemic, telehealth and telerehabilitation are emerging as effective and sustainable solutions for precaution, prevention, and treatment to stem the spread of COVID-19. It is bridging the gap between the people, physicians, and health systems. It is enabling everyone, especially symptomatic patients to stay at home and communicate with physicians through virtual channels to reduce the spread of the virus. Hospitals and other healthcare facilities are therefore expanding their telehealth services and finding ways to train their staff. For instance, according to a recent survey conducted in the U.S., 84% of patients are more likely to select a provider that offers telerehabilitation over the one that doesn’t. The COVID-19 outbreak has therefore positively impacted the global telerehabilitation market.

LATEST TRENDS

Gradual Shift Towards Virtual Consultation is the Current Market Trend

Virtual consultation is a process of getting medical consultation without visiting the specialist in person. Therefore, it is emerging as the most convenient way of doctor-patient interaction. It gives access to healthcare services in remote areas and patients with mobility issues such as the elderly. It also provides an opportunity to reduce healthcare expenditure and saves time for both the patient and the caregiver. Overall, it has the potential to provide better healthcare services to the masses, which is the major attraction for the patients. Thus, all these reasons are projected to accelerate the growth of the market.

DRIVING FACTORS

With increasing age, people are more prone to body dysfunctionality and fall prey to chronic diseases. This further increases the need for medical aid with quality services.

Rising Geriatric Population to Fuel Market Growth

With increasing age, people are more prone to body dysfunctionality and fall prey to chronic diseases. This further increases the need for medical aid with quality services. Telerehabilitation offers quality services and facilitates the access to rehabilitation services for the geriatric sector, who find it difficult to access because of the mobility impairments. For instance, the World Health Organization estimates that by 2025, the number of people crossing the age of 60 will be about 1.2 billion, and this will continue to rise to 2 billion by 2050.

Rising Adoption of Telerehabilitation Systems to Augment Growth

This is an emerging method of delivering rehabilitation services that use technology to serve patients and clinicians by minimizing the barriers of distance, time, and cost. Therefore, it is considered the solution to problems associated with the technological, functional, economical, and geographical convergence. Due to the benefits offered by this technology, it is highly preferred and adopted among the patients living in remote areas. Therefore, this is responsible for the telerehabilitation market growth during the forecast period.

RESTRAINING FACTORS

Poor Reimbursement Policies to Restrict Growth

Reimbursement for telerehabilitation is the biggest challenge to its widespread adoption. Medicare prohibits reimbursements for services provided via telehealth to patients living within countries that are federally designated as metropolitan areas. Medicaid provides funds in only a few states and also private insurance is variably available. As the reimbursement policies are variable and dynamic, practitioners are advised to monitor such policies by contacting funders, which means undergoing a hectic procedure. Therefore, poor reimbursement policies for these services are one of the major factors that limit the market expansion during the forecast period.

SEGMENTATION

By Type Analysis

Growing Number of Service Providers Enable the Services Segment to Hold Remarkable Growth

Based on type, the market has been segmented into products and services. Among them, the services segment is projected to dominate the market. This is attributable to factors such as increasing number of service sessions required for a particular disease indication, growing number of service providers, and rising adoption of telerehabilitation services

On the other hand, the product segment is expected to flourish in the forthcoming years and includes products offered that help to assist patients during these programs.

By Application Analysis

Physical Therapy Segment to Exhibit Impressive Growth

Based on application, the market is segmented into occupational therapy, physical therapy, chronic diseases, and others. The physical therapy segment dominated the market in 2019 owing to the rising number of patients undergoing this therapy through telerehabilitation technology. The major reason for this is the growing prevalence of injuries, accidents, and disabilities due to any other medical condition. For instance, an article published by the National Center for Biotechnology Information, in 2017 estimated around 9,136 patients took admission in clinics for physical rehabilitation in the U.S., whereas 2,495 took for occupational therapy. Therefore, the physical therapy segment is likely to continue dominating the market in the coming years.

By End-user Analysis

Higher Adoption of Telerehabilitation in Homecare to Propel Growth

Based on end-users, the market is segmented into healthcare facilities and homecare. Among them, the homecare segment accounted for the largest share during the forecast period. Homecare is gaining immense popularity and is expected to continue its dominance during the forecast period owing to the growing geriatric population and increasing demand for these services in homecare setups with real-time monitoring results.

On the other hand, healthcare facilities such as hospitals and clinics also consist of these technologies, and deliver the health services to the patients living in remote areas.

REGIONAL INSIGHTS

North America dominated the market and registered a revenue of USD 1.12 billion in the year 2019. The gradual shift towards virtual consultation, increasing number of e-visits, and presence of advanced healthcare technologies are the reasons responsible for the dominance of North America. For instance, in October 2019, the Governor of California signed a new law offering commercial health insurance coverage that will benefit patients by offering better access to healthcare services; and catalyze the growth of telehealth technologies throughout the state. In Europe, the growing geriatric population and increasing awareness and preference for the telerehabilitation among the patient pool is responsible for market expansion of the region.

Asia Pacific, on the other side, is estimated to register the highest CAGR by 2026. High rural population, developing healthcare scenario, and growing awareness among the population are likely to boost the telerehabilitation market growth in this region. Latin America and the Middle East & Africa are expected to reflect a moderate growth in coming years owing to the high unmet patient population.

KEY INDUSTRY PLAYERS

Players Focusing on Upgrading Product Portfolio to Maintain Position in Market

American Well, Doctor On Demand, Inc., and Hinge Health, Inc.  are dominating the market owing to their huge client base and a larger number of online consultations. In order to maintain their leading position in the telerehabilitation market shares, these players are focusing on strategic collaborations and mergers to expand their market revenue and share. For instance, in October 2016, Zimmer Biomet Holdings, Inc. acquired RespondWell, an award-winning telerehabilitation technology, to provide personalized clinician-supervised post surgical physical therapy in the comfort of the patient’s home.

LIST OF KEY COMPANIES PROFILED:

• American Well (United States)


• Doctor On Demand, Inc. (United States)


• Hinge Health, Inc.  (United States)


• MIRA Rehab Limited  (UK)


• Koninklijke Philips N.V. (Netherlands)


• NeoRehab


• Jintronix. (United States)


• Care Innovations, LLC. (United States)


• Other Players

KEY INDUSTRY DEVELOPMENTS:

• January 2019 MedRisk announced the addition of a telerehab component to its onsite physical therapy program in order to ensure consistent care of their injured workers regardless of their location.


• January 2019 eWellness Healthcare Corporation, a provider of state-of-art PHZIO platform for physical therapy and telehealth markets, announced the launch of version 3.0 of its PHZIO Digital treatment platform.

REPORT COVERAGE

The telerehabilitation market report offers qualitative and quantitative insights on the market and a detailed market share analysis of size & growth rate for all possible segments in the market. Along with this, the market research analysis also provides an elaborative in-depth analysis of the market dynamics, restraints, competitive landscape, regional analysis, and opportunities. The market study further offers the regulatory scenario for key countries, major industry developments such as mergers & acquisitions, an overview of the market by countries, and snapshots on the novel & upcoming innovations.

Report Scope & Segmentation