Telerehabilitation Market Expected to Reach $12.9 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Telerehabilitation Market," The telerehabilitation market size was valued at $3.7 billion in 2021, and is estimated to reach $12.9 billion by 2031, growing at a CAGR of 13.5% from 2022 to 2031.

Telerehabilitation is the delivery of rehabilitation services through information and communication technologies. It allows healthcare providers to evaluate, diagnose and treat patients without the need for an in-person visit. It includes webcams, videoconferencing tools, asynchronous e-visits, virtual check-ins, remote evaluations of recorded videos or images, telephonic assessment and management services, which can be used to treat the patients.

Services provided by telerehabilitation include monitoring, prevention, intervention, supervision, education, advice, and coaching and these services are available in hospitals, clinics, homes, schools and community-based worksites. Telerehabilitation is used to treat patients with musculoskeletal disorders, low back ache, spondylosis, osteoarthritis, neck pain, frozen shoulder, post joint replacement and is used to cure stroke, neurotrauma, neurodegenerative disorders, cerebral palsy, post tuberculosis meningitis and neuro muscular disorders.

The telerehabilitation market size is driven by high demand for physical therapy, occupational therapy, and speech therapy. In addition, major players are investing in R&D for advanced telerehabilitation advanced technologies to decrease the incidences of chronic diseases fuel the market growth. Furthermore, rise in telecommunications network and reduction in healthcare cost are projected to drive the industry growth.

Moreover, rapid advancements in healthcare and high demand for virtual consultation by physicians and patients are some telerehabilitation market trends further accelerate the expansion of the telerehabilitation market and offer significant growth opportunities for the market during the forecast period. In addition, significant increase in government expenditure on healthcare information (HCIT) sector and rise in focus of key players toward bringing innovation to digital diagnostics further fuel the market growth.

COVID-19 is a large family of viruses that causes illness ranging from common cold to more severe respiratory diseases. However, there has been a positive impact on the telerehabilitation industry. This is attributed to an increase in demand for telerehabilitation services during the pandemic. As hospitals are getting filled with COVID-19 positive patients, the burden on healthcare staff is increasing. In addition, the postponement and cancellation of elective surgeries and appointments decreased patient volume in hospitals and clinics. This poses an urgent need for physicians to adopt telehealth to connect to their patients. With social distancing being the new normal, the demand for teleconsultations and digital health services is at its peak.

Telehealth has emerged as a powerful weapon in the war against the COVID-19 pandemic. In addition, telehealth has emerged as an essential component of healthcare during the COVID-19 pandemic which propelled the telerehabilitation industry. For instance, according to the research article published in JCO Global Oncology-An American Society of Clinical Oncology Journal, 2020, during the SARS-CoV-2 pandemic, physical distancing was put in place to minimize the spread of coronavirus disease. This resulted in the adoption of most of the outpatient oncology appointments to telerehabilitation.

The telerehabilitation market is segmented on the basis of application, component, end user and region. By application, the market is segmented into physical therapy, occupational therapy, and speech therapy. The physical therapy segment dominated the global telerehabilitation market share in 2021. This was attributed to increase in prevalence of injuries, accidents, and disabilities due to any other medical condition. However, the speech therapy segment is projected to register highest CAGR of 14.9% during the forecast period, owing to increase in demand for speech therapy due to rise in prevalence of neurological conditions and speech disorders.

On the basis of component, the market is segmented into products and services. The services segment was accounted for the largest revenue in the year 2021 and is remain dominant during forecast period. This was attributed to the growing implementation of telerehabilitation services such as healthcare facilities and homecare services. In addition, rise in demand for telerehabilitation services boosts the segment growth.

Depending on end user, the market is segmented into healthcare providers and homecare. The homecare segment dominated the market in 2021, and is expected to remain dominant during the forecast period, owing to factors such as rise in demand for mobile technologies, rise in adoption of home care by patients, and reduction in hospital visits.

North America accounted for the largest telerehabilitation market share of the global telerehabilitation market in the year 2021. This is majorly attributed to high incidences of chronic diseases and rise in healthcare infrastructure. In addition, rise in technological innovations for rehabilitation, and increase in awareness regarding remote patient monitoring further drive the market growth in this region. Moreover, presence of major players operating in the region fuel the growth of the market.

However, Asia-Pacific is expected to witness highest growth during the forecast period, owing to factors such as increase in healthcare infrastructure and rise in cases of cognitive disorders in this region. Furthermore, innovation and development toward telecommunication are anticipated to further enhance the market growth in this region during telerehabilitation market analysis.

KEY FINDINGS OF THE STUDY 

• Based on application, the physical therapy segment held largest share in the global market in 2021. However, speech therapy segment is anticipated to grow at the highest CAGR of 14.9% during the forecast period.
• On the basis of components, the services segment held largest market share in 2021 and is expected to remain dominant throughout the forecast period. 
• Based on end user, the homecare segment dominated the market in 2021, and is expected to grow at a CAGR of 13.6% during the forecast period.
• Based on region, North America is expected to experience growth at the highest rate, registering a CAGR of 11.9% during the telerehabilitation market forecast.