Virtual Rehabilitation Market To Generate Revenue worth $2,312.3 Million by 2030

The global virtual rehabilitation market is projected to generate $2,312.3 million revenue by 2030, advancing at a CAGR of 24.3% during 2021–2030. This will be due to the increase in the cases of disability and rise in the use of virtual reality (VR) in treating patients.

The outbreak of COVID-19 has positively impacted the global virtual rehabilitation market, due to the increasing adoption of VR devices. People with disabilities purchased VR devices in huge numbers during the pandemic to stay healthy and fit, as they were disproportionately vulnerable to the virus.

Physical Rehabilitation Type Largest Contributor to Market

Due to its real-time multimodal capabilities, VR-based physical rehabilitation can induce successful treatment protocol adherence as a human-supervised protocol. Increased stimuli can persuade patients to exercise more, by offering multisensory, aural, and visual feedback. Physical rehabilitation also increases quantitative feedback for both the user and the therapist.

Moreover, the homecare settings category is predicted to grow the fastest during 2021–2030. This is credited to the rapidly booming elderly population, rising incidence of chronic diseases, growing need for cost-effective healthcare delivery due to the ballooning healthcare costs, and technological advancements in home-use rehabilitation devices.

Globally, the North American market held the largest share in 2021. The increasing government aid in the form of incentives, as well as the rising product outsourcing activities, is expected to accelerate the VR footprint in the North American healthcare market during the projected period. The market expansion is also predicted to be aided by the expanding healthcare infrastructure and various rehabilitation support policies. Moreover, the presence of various players in the region, including GestureTek Inc., Geminus-Qhom, Neuro Rehab VR, and Virtualware Group, is driving the growth of the market here.

Product Launches Are Most-Effective Strategic Measures

Players in the virtual rehabilitation industry have been involved in product launches, to remain competitive. For instance, in July 2020, Hinge Health Inc. expanded its musculoskeletal solution line for employers and health plans. It is an expansion of the company’s clinical & technical capabilities, to cover the full continuum of care in this field and give employers and health plans a complete back and joint health solution.

Moreover, Neuro Rehab VR launched an extended reality (XR) therapy system for patient care and rehabilitation. This solution features a higher efficiency and enhances patient experiences, while expediting recovery through engaging VR exercises.

The major players operating in the global virtual rehabilitation market are CoRehab srl, Brontes Processing, Hinge Health Inc., SWORD Health Inc., MIRA Rehab Limited, Bridgeway Senior Healthcare, Motek Medical B.V., GestureTek Inc., Virtualware Group, and Neuro Rehab VR.