SEATTLE, May 14, 2020 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global Telerehabilitation Systems Market is estimated to be valued at US$ 201.8 million in 2020 and is expected to exhibit a CAGR of 13.4% during the forecast period (2020-2027).
Key Trends and Analysis of the Global Telerehabilitation Systems Market:
The global telerehabilitation systems market is expected to witness significant growth owing to product approvals and launches. For instance, in February 2016, MindMaze received CE marking for its Immersive Virtual Reality (IVR) rehabilitation solution, MindMotionPRO, for neurological rehabilitation. MindMotionPRO is a hospital-based rehabilitation solution for early motor intervention in neurological patients.
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Furthermore, in June 2016, Flexpoint Sensor Systems, inc. launched 'Gloreha Sinfonia', an advanced, next generation medical rehabilitation technology suite of products. It includes Gloreha Hand Rehabilitation Glove, Sinfonia, DAS – Dynamic Arm Support, Workstation, and the innovative Virtual Reality Rehabilitation and customized Therapy Management software. In January 2019, MbientLab launched MIOTherapy (MIO) wearable technology (smart sensors) for physical and occupational therapists to personalize and improve outpatient rehabilitation.
Key players in this market are focused on inorganic activities such as acquisitions to maintain a competitive edge in the market. For instance, in April 2019, XRHealth announced partnerships with Healing Healthcare Systems, inc. to provide virtual reality (VR) relaxation videos to hospitals throughout the U.S.
Moreover, 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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Key Market Takeaways:
Market Segmentation:
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The increasing adoption of inorganic growth strategies such as mergers, agreements, and partnerships by key players operating in the market are expected to propel the market growth over the forecast period.
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PERSONAL EMERGENCY RESPONSE SYSTEMS MARKET
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