NEWARK, Del, May 10, 2023 (GLOBE NEWSWIRE) -- As per Future Market Insights’ latest industry analysis, the valuation for the global VR stroke rehabilitation market was around US$ 144.9 Billion in 2022 and is projected to exhibit a CAGR of 9.2% over the forecast period, with an estimated valuation of US$ 376.0 Billion in 2033.
It's critical to investigate the opportunities presented by cutting-edge technology considering the widespread nature of brain damage in the population and the requirement for new rehabilitation tools.
By providing new chances for learning, to respond to and accomplish activities in less complex ways that involve a simplified cognitive load, greater repetition, and progressive training compared to real-world tasks, virtual reality (VR) has the potential to support current rehabilitation procedures.
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Physical exercise and cognitive training can be used alone or together, depending on the therapeutic goal. In connection with this, VR enables the delivery of well calibrated multimodal stimuli for information feedback or errorless learning techniques.
Consumers and vendors are collaborating to create cutting-edge products that increase sales and profits for both sides, because of which organizations and manufacturers with advanced procurement processes are getting the opportunity to grow and extend their businesses. By incorporating various tactics into their operations, they adopt innovative techniques and take an integrated approach to product development.
While NIBS (non-invasive brain stimulation) may change the neurophysiology underlying cognitive functioning, VR offers a controlled and alluring environment that can be tailored to the patient's demands. Many studies have suggested that using these technologies in combination may be more effective for this objective than using them separately.
For example, it has been used to treat spider phobia, induce embodiment for an artificial hand, and intervene with a variety of populations, including healthy adults, post-stroke patients, and children with cerebral palsy.
Key Takeaways from Market Study
- Long term patients are the leading segment as patient type, and held 69.2% market value share in 2022, owing to increasing sale of VR Stroke Rehabilitation market.
- By service provider, rehabilitation centers held a share of around 36.6% in 2022; because they offer the resources, knowledge, and technology required to create effective treatments for stroke victims.
- North America held a value share of around 40.9% in 2022, owing to the significant number of VR Stroke Rehabilitation procedures conducted in the region.
“Increasing demand for VR Stroke Rehabilitation procedures and the increasing prevalence of neurodegenerative diseases will boost the global market for VR Stroke Rehabilitation.” Says an analyst of Future Market Insights.
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Market Competition
Presently, virtual reality (VR) has become a cutting-edge therapy option for rehabilitation. Particularly in hospital settings, VR for Stroke Rehabilitation using commercial game consoles is gaining acceptance. Using VR, stroke victims can receive treatment in a digitally created virtual world, and the data gathered is sent to a specialist for more research.
The market for VR Stroke Rehabilitation represents a consolidated market with players focussed on providing technology driven platforms to the end users.
- Saebo, Inc. got approval from the U.S. Food and Drug Administration in July 2017 for SaeboVR, a virtual reality rehabilitation system designed for neurological patients who struggle with both cognitive and physical issues.
- Oxford VR's (UK) robotic virtual reality therapy was released in April 2020 and featured in the NHSX Global Digital Exemplar. The NHS's Improving Access to Psychological Therapies (IAPT) services, which provide mental health care, have embraced and integrated the business's initiative.
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the VR Stroke Rehabilitation market in its latest study, presenting a historical demand assessment of 2012 to 2022 and projections for 2023 to 2033. The global VR Stroke Rehabilitation market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on the patient type (short-term patients, long-term patients), by service provider (hospitals, clinics, rehabilitation centers, homecare settings), across seven key regions of the world.
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Key Market Segments Covered in the VR Stroke Rehabilitation Industry Research
Patient Type:
- Short Term Patients
- Long Term Patients
Service Provider:
- Hospitals
- Clinics
- Rehabilitation Centers
- Homecare settings
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
Table of Content
1. Executive Summary | VR Stroke Rehabilitation Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions and Exclusions
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Development/Innovation Trends
4. Key Success Factors
4.1. Service Adoption Analysis
4.2. Stroke Prevalence Rate
4.3. Regulatory Landscape
4.4. PESTLE Analysis
4.5. Porter’s Analysis (TOC Continue…)
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