Global Physical
Therapy Rehabilitation Solutions Market, by Solution (Software and
Hardware), by Application (Hip Joint, Spinal Cord Injuries, Forearms and Wrist
Joints, Shoulder and Elbow Joint, Knee Join, and Others), by Deployment
(On-premise, Cloud-base, and Hybrid), by End User (Ambulatory Surgical Center,
Self-insured Employer, Healthcare IDN (Integrated Delivery Network), Commercial
payer, Govt. Organization, Physiotherapy Clinics, Hospitals, and Homecare &
Rehabilitation Centers), and by Region (North America, Latin America, Europe,
Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 23.1
billion in 2020 and is expected to exhibit a CAGR of 7.7 % during the forecast
period (2020-2027), as highlighted in a new report published by Coherent Market
Insights.
Key players are focusing on
product approvals and launches to strengthen their position in the global
physical therapy rehabilitation solutions market. For instance, in May 2019,
Reflexion Health received 510(k) approval from the U.S. FDA for its Virtual
Exercise Rehabilitation Assistant (VERA). The platform is featured with a 3D
scan of the patient in order to measure movement and analyze functional
assessment of patients suffering from injury. Patients and providers are
enabled to view progress and statistics on a dashboard. Previously, in 2015,
VERA was already approved by the U.S. FDA for the treatment of lower
extremities i.e. knee and hip replacement surgery.
Moreover, key companies are
focusing on strategic collaborations for the development of novel and
technologically advanced physical therapy rehabilitation solutions for
different indications, which is driving growth of the global physical therapy
rehabilitation solutions market. For instance, in October 2016, Zimmer Biomet
Holdings Inc. acquired RespondWell, a telerehabilitation platform, from
RespondWell LLC. Zimmer Biomet integrated the novel platform into its Zimmer
Biomet Signature Solutions to further enhance patient compliance with physical
therapy.
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Global Physical Therapy
Rehabilitation Solutions Market – Impact of Coronavirus (COVID-19)
The COVID-19 pandemic has
affected several markets across the globe and is also expected to hamper the
global physical therapy rehabilitation solution market growth
Moreover, pre-COVID physical
therapy rehabilitation solutions market had gained significant growth due to
increasing demand for rehabilitation services for orthopedic indications across
the world. For instance, in 2018, Reflexion Health, Inc. entered into an
agreement with Delta Joint Management. As per the agreement, Reflexion Health's
U.S. FDA cleared VERA platform will remotely monitor Delta Joint Management's
patients to ensure that they receive high-quality physical therapy in the
comfort of their homes.
The COVID-19 pandemic has
affected the economy in three main ways; by directly affecting the production
and demand; by creating disruptions in distribution channels; and through its
financial impact on companies and financial markets. Supply chain and
manufacturing activities in India, China, the U.S., and others have been
disrupted due to lockdowns, while countries such as Thailand, Indonesia,
Singapore, and others are facing problems with regards with maintaining
rehabilitation services such as physical therapy. The demand for virtual
rehabilitation has increased during COVID 19 situation, as it is safe and follows
social distancing.
Browse 44 Market Data Tables and
36 Figures spread through 207 Pages and in-depth TOC on “Global Physical
Therapy Rehabilitation Solutions Market, by Solution (Software and Hardware),
by Application (Hip Joint, Spinal Cord Injuries, Forearms and Wrist Joints,
Shoulder and Elbow Joint, Knee Join, and Others), by Deployment (On-premise and
Cloud-base, Hybrid), by End User (Ambulatory Surgical Center, Self-insured
Employer, Healthcare IDN (Integrated Delivery Network), Commercial payer, Govt.
Organization, Physiotherapy Clinics, Hospitals, and Homecare &
Rehabilitation Centers), and by Region (North America, Latin America, Europe,
Asia Pacific, Middle East, and Africa)”
Browse Research
Report: https://www.coherentmarketinsights.com/market-insight/physical-therapy-rehabilitation-solutions-market-4253
The market is expected to witness
significant growth during the forecast period, as key players are focusing on
technological advancements in the field of physical therapy rehabilitation
solutions. For instance, in January 2019, MbientLab, a company building the next
generation of sensors and tools for the healthcare industry, launched a novel
MIOTherapy (MIO), a wearable technology for physical and occupational
therapists. This platform integrates the effectiveness of traditional physical
therapy with smart sensors, therapeutic exercises, games, and 3D visualization
technology to personalize and improve outpatient rehabilitation and accelerate
recovery.
Key Takeaways of the Global
Physical Therapy Rehabilitation Solutions Market:
The global physical therapy
rehabilitation solutions market is expected to exhibit a CAGR of 7.7 % during
the forecast period, as key companies are focusing on technological
advancements in physical therapy rehabilitation solutions
Among solution, the hardware
segment is estimated to hold largest market share in 2020, as manufacturers are
engaged in the development of hardware to support physical therapy
rehabilitation solutions
Among application, hip joint
segment is estimated to hold largest market share in 2020, owing to increasing
number of surgical procedures such as total hip replacement in individuals
Among deployment, on-premise
segment is estimated to hold largest market share in 2020, as key players are
engaged in providing on-premises rehabilitation solutions for individuals for
better treatment
Companies operating in the global
physical therapy rehabilitation solutions market include Reflexion Health, AC
INTERNATIONAL EAST, Cerner Corporation, Kareo, Inc, TherapySync, eviCore
healthcare, Meditab, Isalus, Smith+Nephew, CoRehab srl, Hinge Health, Inc,
SWORD Health, Inc, MIRA Rehab Limited, Motekforce Link, and GESTURETEK HEALTH
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report: https://www.coherentmarketinsights.com/insight/buy-now/4253
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Coherent Market Insights:
Coherent
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services, and competitive analysis through various recommendations related to
emerging market trends, technologies, and potential absolute dollar
opportunity.
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