PUBLISHER: The Business Research Company | PRODUCT CODE: 1458761
PUBLISHER: The Business Research Company | PRODUCT CODE: 1458761
Virtual rehabilitation utilizes virtual reality and immersive technologies to deliver therapeutic interventions and personalized rehabilitation experiences for individuals dealing with physical or cognitive impairments. By harnessing virtual environments and interactive simulations, it facilitates the recovery, enhancement, or maintenance of diverse functional abilities.
The primary categories of virtual rehabilitation include physical rehabilitation, neuro and cognitive rehabilitation, among others. Physical rehabilitation targets the restoration and improvement of physical function and mobility for individuals with injuries or disabilities, catering to various patient types such as short-term and long-term patients. These interventions are utilized across a spectrum of end-users including inpatient rehabilitation hospitals, rehabilitation centers, clinics, and home care settings.
The virtual rehabilitation market research report is one of a series of new reports from The Business Research Company that provides virtual rehabilitation market statistics, including virtual rehabilitation industry global market size, regional shares, competitors with a virtual rehabilitation market share, detailed virtual rehabilitation market segments, market trends, and opportunities, and any further data you may need to thrive in the virtual rehabilitation industry. This virtual rehabilitation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The virtual rehabilitation market size has grown exponentially in recent years. It will grow from $0.53 billion in 2023 to $0.66 billion in 2024 at a compound annual growth rate (CAGR) of 24.4%. The growth observed in the historical period can be attributed to several factors, including the rising incidence of disability among the population, the expanding utilization of virtual reality (VR) in patient treatment, and the increasing adoption of VR technology within the healthcare sector.
The virtual rehabilitation market size is expected to see exponential growth in the next few years. It will grow to $1.58 billion in 2028 at a compound annual growth rate (CAGR) of 24.3%. The anticipated growth in the forecast period can be attributed to several factors, including the rapidly aging population, rising prevalence of non-communicable diseases, the implementation of various policies supporting virtual rehabilitation, and a growing emphasis on patient-centric healthcare. Key trends expected during this period encompass product innovations, partnerships within the industry, advancements in virtual rehabilitation technologies, the adoption of newer technologies, and improvements in internet connectivity for smoother interactions.
The anticipated increase in the prevalence of disability is poised to drive the expansion of the virtual rehabilitation market in the future. Disability encompasses conditions-physical, cognitive, sensory, or mental-that significantly limit an individual's ability to engage in daily activities, participate fully in society, or assume typical life roles. Virtual rehabilitation plays a crucial role in supporting the disabled population by offering remote access to therapeutic interventions and personalized exercises through virtual platforms. For example, as reported by the World Health Organization in March 2023, approximately 1.3 billion people worldwide, constituting 16% of the global population, are living with disabilities. Consequently, the escalating prevalence of disability among the population serves as a catalyst propelling the growth of the virtual rehabilitation market.
Leading companies in the virtual rehabilitation market are focusing on the development of advanced virtual rehabilitation platforms, such as multi-disciplinary rehabilitation tools, to gain a competitive advantage. A multi-disciplinary rehabilitation tool encompasses a holistic approach involving professionals from diverse disciplines collaborating to meet the needs of individuals recovering from illness, injury, or disability. For example, in November 2022, Penumbra, a US-based medical company, introduced the first hands-free, full-body virtual reality-based offering for rehabilitation, expanding its REAL System platform. Distinguished as the sole hands-free, non-tethered virtual reality rehabilitation platform catering to both upper and lower extremities with a comprehensive immersive experience, it enables clinicians to personalize exercises and activities to challenge, motivate, and engage patients while monitoring their progress. Leveraging virtual reality, the REAL System platform delivers immersive healthcare interventions aimed at enhancing various aspects of health, including functional skills, cognition, and stress management.
In December 2022, BehaVR LLC, a virtual reality company headquartered in the United States, merged with OxfordVR for an undisclosed sum. This merger is poised to establish a prominent position in the market, creating a leading virtual reality (VR) platform designed to deliver evidence-based digital therapeutics for mental and behavioral health issues. OxfordVR, based in the UK, specializes in providing virtual reality treatments for various mental health conditions.
Major companies operating in the virtual rehabilitation market report are SWORD Health, Hinge Health Inc., Meden-Inmed, BO&BO Ltd., Saebo Inc., Mindmaze, Bridgeway Senior Healthcare, Motek Medical B.V., XRHealth (VRHealth), Tyromotion GmbH, Brontes Processing, LiteGait, GestureTek Health, CSE Entertainment UK, Rehab-Robotics, Virtualware Group, MIRA Rehab Limited, Myelin-H, Motorika, Doctor Kinetic, Agile Virtual PT, Cogniv Technologies, Immersive Rehab, Neuro Rehab VR, Rehametrics, Neuro Rehab VR, CoRehab srl, Accelerated Care Plus Corporation, Euleria S.R.L
North America was the largest region in the virtual rehabilitation market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual rehabilitation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the virtual rehabilitation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The virtual rehabilitation market consists of revenues earned by entities by providing virtual rehabilitation services such as interactive exercises, and motion-sensing interventions to address the needs of individuals with physical or cognitive impairment. The market value includes the value of related goods sold by the service provider or included within the service offering. The virtual rehabilitation market also includes sales of virtual reality (VR) and augmented reality (AR) devices, and motion-sensing equipment that are used in providing virtual rehabilitation services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Virtual Rehabilitation Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on virtual rehabilitation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for virtual rehabilitation? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The virtual rehabilitation market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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