April 20, 2024
Europe Telerehabilitation Skilled Nursing Care Center Market

Europe Telerehabilitation Skilled Nursing Care Center Market poised to flourish by 2030 owing to Integration of Virtual Reality and Robotics in Rehabilitation

Telerehabilitation services are gaining traction in Europe’s skilled nursing care centers due to various advantages such as enabling access to rehabilitation services in remote locations and reducing healthcare costs. Telerehabilitation utilizes telecommunication and virtual technology to deliver rehabilitation services remotely, allowing patients to receive physiotherapy, occupational therapy and speech therapy virtually through video conferencing. This not only facilitates continuity of care for patients post hospitalization but also helps reduce bed blocking at hospitals. The growing geriatric population and increasing prevalence of chronic diseases are major factors driving the demand for telerehabilitation services across Europe.

The Europe Telerehabilitation Skilled Nursing Care Center Market Demand is estimated to be valued at US$ 17.94 Mn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Europe Telerehabilitation Skilled Nursing Care Center are Wockhardt, SEDICO, Exir, Julphar, Biocon, Eli Lilly, Sanofi Aventis, and Novo Nordisk AS. Telehealth and remote patient monitoring technologies enable these key players to expand their reach and provide essential rehabilitation services to more patients across Europe.

The growing geriatric population coupled with increasing incidences of chronic diseases like stroke, Parkinson’s disease, arthritis etc. are driving the demand for telerehabilitation services. As per estimates, over 20% of the European population will be aged 65 and above by 2030. This rapid growth of the aging population and their rising healthcare needs are promoting the adoption of telerehabilitation.

EuropeTelerehabilitation market players are expanding their operations globally to meet the growing demand from international markets. Mergers and acquisitions, partnerships with hospitals and local centers and collaborations with telecom companies are some of the strategies adopted by players to strengthen their international presence. The awareness and acceptance of telerehabilitation is on the rise in developing countries of Asia Pacific and Latin America, offering lucrative opportunities for European players.

Market Key Trends

Integration of Virtual Reality and Robotics in Rehabilitation is a key trend shaping the Europe Telerehabilitation market. Virtual Reality (VR) enables physiotherapists to conduct repetitive motor tasks and design personalized rehabilitation programs for effective recovery of patients. Platforms like VR offer immersive rehabilitation experiences for stroke patients to regain motion. Robotic exoskeletons and orthosis also assist physiotherapists in passive, active-assisted and active motion of patients. Their use results in improved functional outcomes for patients with reduced therapy time. The Europe Telerehabilitation Skilled Nursing Care Center Market is well positioned for strong growth over the forecast period aided by technological advancements and new product developments.

Porter’s Analysis

Threat of new entrants: High capital requirements and technological expertise pose a barrier to entry.

Bargaining power of buyers: Buyers have moderate bargaining power as there are few choices available currently.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to differentiation in products and services provided.

Threat of new substitutes: Potential substitutes like telestroke management and telecare pose low threat currently.

Competitive rivalry:Intense competition exists between existing players to cater to the rising demand.

Geographical Regions

The Europe region accounts for a significant share of the market currently in terms of value. Countries like Germany, UK, France have experienced rapid adoption of telerehabilitation services in skilled nursing centers owing to advanced healthcare infrastructure and increasing geriatric population.

The Asia Pacific region is poised to be the fastest growing market for telerehabilitation skilled nursing care centers during the forecast period. This can be attributed to growing medical tourism, rising healthcare spending, and government initiatives to promote digital healthcare in countries such as India, China and Japan.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it