Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) — The “Global Telerehabilitation Market Analysis & Forecast to 2024-2034” report has been added to ResearchAndMarkets.com’s offering.
The global telerehabilitation market is set to expand significantly, with its valuation primed to leap from USD 4.13 billion in 2023 to an estimated USD 20.09 billion by 2034. The impressive compound annual growth rate (CAGR) of 15.46% during the forecast period from 2024 to 2034 is attributed to multiple factors that are propelling the sector forward.
With advances in digital healthcare technologies, the telerehabilitation field has been experiencing substantial advancements, buttressed by the integration of software solutions and hardware innovations. Key segments outlined in the market report reveal notable trends and growth trajectories.
- Software Dominates: The software component led the market in 2023, driven by its role in enhancing system efficiency, offering precise information retrieval, and reducing patient care costs.
- Advancements in Hardware: Innovative product launches are predicted to spur the hardware segment to the fastest growth rate across the forecast period.
- Focus on Clinical Therapy: Clinical therapy services have seen a surge owing to the growing demand for fitness and rehabilitation programs, further reinforcing the sector’s expansion.
- Physical Therapy Leads: Within therapy types, physical therapy holds the largest portion of the market share, amplified by a rising patient base requiring such services.
- Orthopedic Applications Surface: The use of telerehabilitation in orthopedic fields commands the highest revenue among applications, a trend driven by post-surgery rehabilitation needs.
- Homecare Settings Prevail: Patients’ preference for at-home rehabilitation services has made homecare settings the leading end-user segment in the market.
In terms of geographical market size, North America is the reigning region and is anticipated to maintain its dominance throughout the forecast period due to technological advancements and a growing focus on patient-centric care models. The Asia Pacific market, however, is expected to witness the fastest growth rate, propelled by an increasing elderly population and substantial healthcare investments.
- North America’s substantial market share is anchored in its sophisticated technological infrastructure and heightened telehealth awareness.
- The Asia Pacific region is on track for rapid growth, with initiatives that bolster infrastructure support and introduce telehealth solutions.
The comprehensive report sheds light on the key drivers, such as the reduction in overall healthcare costs, the prevalence of chronic conditions requiring rehabilitation, the surge in adoption of smartphones and internet, and initiatives from both public and private sectors. In addition, the growing awareness and acceptance of telerehabilitation services are contributing to the market’s vigorous expansion.
With these developments, stakeholders, healthcare professionals, and patients can anticipate a future where telerehabilitation becomes an integral part of the global healthcare paradigm. The report’s in-depth analysis provides a critical lens through which the future trajectory of telerehabilitation can be understood and navigated.
The exploration into telerehabilitation’s market dynamics underscores the industry’s responsiveness to changing technological landscapes and patient needs, ultimately fostering a healthcare environment that is more accessible, cost-effective, and outcomes-driven.
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- MIRA Rehab Limited
- Doctor On Demand Inc.
- Care Innovation LLC
- Koninklijke Philips N.V.
- American Well
- Bosch Healthcare
- Hinge Health Inc.
- Medvivo Group
- C3O telemedicine
- Cloud Physio
For more information about this report visit https://www.researchandmarkets.com/r/7rhvzy
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- Global Telerehabilitation Market