LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global telerehabilitation systems market and the market is poised to grow by USD 199.03 million during 2019-2023, progressing at a CAGR close to 18% during the forecast period.
“At present, the emergence of Industry 4.0 healthcare companies is resulting in the adoption of advanced technologies. The increasing adoption of sensors and IoT to effectively monitor patients and provide treatment in real-time will drive the adoption of telehealth solutions such as telerehabilitation. This integration of virtual reality in healthcare processes creates an opportunity to gather data and generate insights via IIoT. This will stimulate the demand for these systems over the forecast period,” say a senior analyst at Technavio. Request Free Sample Pages
The market is driven by the imbalance between high patient influx and understaffing at health centers. In addition, the increasing incidence of chronic diseases is anticipated to further boost the growth of the telerehabilitation systems market.
There is an increase in patient visits and hospital overstays due to the high prevalence of chronic diseases. Also, the variability in patient inflow, staff deficiency, and resource limitations are factors that are leading to poor patient outcomes and overcrowding of the emergency department. This is compelling healthcare providers to adopt telehealth services such as telerehabilitation in the healthcare industry. Telerehabilitation solutions minimize human effort, improve the overall quality of service, and help in achieving operational efficiencies in the healthcare sector. Therefore, the imbalance between high patient influx and understaffing at health centers is one of the critical reasons that will drive the growth of the telerehabilitation systems market.
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Major Five Telerehabilitation Systems Market Companies:
Cisco Systems owns and operates businesses under various segments such as product and services. The company’s offerings include Cisco Unified Communications and Cisco WebEx.
GESTURETEK owns and operates businesses under the segment, Unified. The company’s offerings include IREX, which is a system that works on video gesture control technology and provides rehabilitation solutions. The product consists of a camera connected to a computer, which captures live real-time, full body image of the patient, while the patient is involved in dynamic virtual reality video games.
Honeywell International Inc.
Honeywell International Inc. operates under various segments, namely aerospace, home and building technologies, performance materials and technologies, and safety and productivity solutions. Some of the products offered by the company are Genesis Touch and LifeStream Clinical Monitoring Software.
Koninklijke Philips N.V.
Koninklijke Philips N.V. operates under various segments, namely personal health, diagnosis & treatment, connected care & health informatics, and healthtech other. The company’s offerings include the eCareCompanion Patient app. This app has a user-friendly interface and has a two-way video designed to build patient self-management skills
Rehametrics offers the Rehabilitation software, which is used for the rehabilitation of patients in both clinical and home settings.
Technavio has segmented the telerehabilitation systems market based on the product and region.
Telerehabilitation Systems Product Outlook (Revenue, USD Million, 2019 - 2023)
Telerehabilitation Systems Regional Outlook (Revenue, USD Million, 2019 - 2023)
- North America
- South America
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