PUBLISHER: Grand View Research | PRODUCT CODE: 1224674
PUBLISHER: Grand View Research | PRODUCT CODE: 1224674
The global telerehabilitation market size is expected to reach USD 11.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.3 % from 2023 to 2030. One of the main factors anticipated to propel the telerehabilitation industry is the increasing usage of digital technologies in the healthcare sector owing to the expanding use of smartphones and the internet globally.
Patients with mobility problems, such as those with motor, neurological, and sensory functions, can benefit from telerehabilitation services. People become increasingly susceptible to chronic disease and physiological dysfunction as they get older. This further emphasizes the need for high-quality medical assistance. Telerehabilitation facilitates fast treatments and makes services more accessible for the elderly population, who find it challenging to get rehabilitation services due to mobility issues. As per the World Health Organization, there will be approximately 1.2 billion individuals over the age of 60 by 2025, and this number is anticipated to raise to 2.0 billion by 2050. Additionally, it is projected that the aging population and those with chronic illnesses will boost the market demand.
Due to the COVID-19 pandemic's restrictions, postponement of non-essential treatments, and transformation of wards into COVID wards to address the increasing number of patients, the telerehabilitation services witnessed a considerable increase. For instance, as per a research article that was published in JCO Global Oncology-An American Society of Clinical Oncology Journal, 2020 physical distance was maintained during the COVID-19 pandemic to reduce the spread of the disease. As a result, telerehabilitation was used for most outpatient oncology appointments.
Further, various initiatives undertaken to strengthen the market is impelling the growth. For instance, according to a report by the NCBI (National Center for Biotechnology Information), the Sheikh Khalifa Stroke Institute in the United Arab Emirates collaborated with Johns Hopkins Medicine to support the development of telerehabilitation kits and the full implementation of the Mind Motion GO technology in 2022.