Europe Telerehabilitation Systems Market, by Component (Hardware and software), by Application (Cardio-pulmonary, Neurology, Orthopedic, and Others), by End User (Hospitals, Home Care Settings, and Rehabilitation Centers), and by Country (Germany, U.K., France, Italy, Spain, Russia, Poland, Switzerland, Sweden, Belgium, Netherlands, and Rest of Europe), is estimated to be valued at US$ 56.8 million in 2020 and is expected to exhibit a CAGR of 9.1% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Key players in the market are involved in developing and launching novel telerehabilitation systems. The approval and launch of such advanced systems is expected to drive the market growth and create a conducive environment for the growth of the Europe telerehabilitation systems market.
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
In September 2014, VirtualRehab, a virtual reality platform, received CE marking for motion capture physical rehabilitation software in Europe. The device was designed in collaboration with neurologists and physiotherapists. The device was designed for use in neurorehabilitation units of the National Hospital for Neurology & Neurosurgery (NHNN), London.
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Europe Telerehabilitation Systems Market - Impact of Coronavirus (Covid-19) Pandemic
The coronavirus (COVID 19) pandemic and resulting lockdowns in various countries across the globe have impacted the financial status of business across all the sectors. The private healthcare sector is one such sector which has been impacted majorly by the ongoing pandemic.
The lockdown in various countries due to the COVID-19 pandemic has placed an economic burden on the private healthcare sector. Healthcare providers were facing challenges with regards to declining outpatients visits, and insufficient manpower, equipment, consumables, and other resources to ensure safety in treatment of patients with other diseases.
Moreover, according to the National Cancer Institute U.S, people with chronic diseases such as cancer may be at higher risk of severe illness from COVID-19, or its treatment may leave them more vulnerable to complications
Thus, the COVID-19 pandemic has affected the economy in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets
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Browse 47 Market Data Tables and 31 Figures spread through 180 Pages and in-depth TOC on Europe telerehabilitation systems market, by Component (Hardware and software), by Application (Cardio-pulmonary, Neurology, Orthopedic and Others), by End User (Hospitals, Home Care Settings and Rehabilitation Centers), and by Country (Germany, U.K., France, Italy, Spain, Russia, Poland, Switzerland, Sweden, Belgium, Netherlands, Rest of Europe) - Forecast to 2027"
Key Takeaways of the Europe telerehabilitation systems market:
The Europe telerehabilitation systems market is expected to exhibit a CAGR of 9.1% during the forecast period (2020-2027) owing to launch and approval of novel virtual rehabilitation and telerehabilitation systems.
Among component, the software segment is expected to hold a major revenue share in 2027 owing to an increasing number of approvals from the regulatory agencies in the European Union. For instance, in September 2014, VirtualRehab received first medical device CE mark approval for a motion capture physical rehabilitation software in Europe.
Major players operating in the Europe telerehabilitation systems market are 270 Vision Ltd., CoRehab srl, SWORD Health, S.A., MIRA Rehab Limited, re.flex, Evolv Rehabilitation Technologies S.L., Brontes Processing Ltd., Bridgeway Senior Healthcare, Rehametrics, MindMaze , DIH Medical and Doctor Kinetic.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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