Global Physical Therapy Market – Industry Trends and Forecast to 2031

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Physical Therapy Market Analysis and Size

Physical therapy promotes recovery and rehabilitation after surgeries, injuries, or illnesses. By assisting individuals in regaining strength, mobility, and function, physical therapists help them return to their normal activities and improve their quality of life. In addition, physical therapy can help individuals manage chronic conditions such as arthritis or fibromyalgia, improving their ability to cope with daily challenges and maintain an active lifestyle.

Data Bridge Market Research analyzes that the global physical therapy market which was USD 26.31 billion in 2023, is expected to reach USD 43.54 billion by 2031, at a CAGR of 6.5% during the forecast period 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Physical Therapy Market Scope and Segmentation  

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Market Definition

Physical therapy, also known as physiotherapy, is a healthcare profession that uses exercises, manual therapy, education, and various modalities to help individuals restore, maintain, and improve their physical function, mobility, and quality of life. It is often used to treat injuries, disabilities, or illnesses that affect a person's ability to move and perform everyday activities.

Global Physical Therapy Market Dynamics

Drivers

• Aging Population and Chronic Conditions

As people age, they are more prone to chronic conditions such as arthritis, stroke, and heart disease, which often require physical therapy for management and rehabilitation. The growing prevalence of these conditions is driving the demand for physical therapy services in the coming years. The increasing global population of older adults is a significant driver of the market.

• Increasing Awareness and Focus on Preventive Healthcare

There is a growing awareness of the importance of preventive healthcare and maintaining an active lifestyle, which has increased demand for physical therapy services. People are seeking physical therapy not only for treatment but also for injury prevention, performance enhancement, and overall health maintenance, driving market growth.

• Sports and Fitness Industry Growth

Athletes and fitness enthusiasts often require physical therapy for injury rehabilitation, performance enhancement, and injury prevention, leading to an increased demand for physical therapy services in the market. As the general interest in sports and fitness industry increases, the demand for physical therapy services also increases, which is driving the market growth.

Opportunities

• Expansion of Telehealth Services

Telehealth allows physical therapists to provide remote consultations, monitoring, and exercise programs, increasing access to care for patients in remote or underserved areas. This technology also enables patients to receive timely care without needing in-person visits, potentially reducing healthcare costs and improving patient outcomes. Expanding telehealth services presents a significant opportunity for the physical therapy market.

• Focus on Preventive Healthcare and Wellness

Physical therapists can play a key role in preventive care by providing education, exercise programs, and injury prevention strategies to help people maintain optimal physical health and prevent future injuries. This shift towards preventive care can increase demand for physical therapy services, especially among younger and active populations.

Restraints/Challenges

• Lack of Reimbursement for Physical Therapy

In many regions, insurance providers do not adequately reimburse physical therapy services, leading to financial constraints for both patients and healthcare providers. For patients, the financial burden of paying for physical therapy out-of-pocket or facing limited coverage from insurance can be substantial. As a result, patients may be less likely to seek or continue physical therapy treatment, potentially hindering their recovery or management of chronic conditions. This is a huge challenge impacting market growth.

• Shortage of Skilled Professionals

The demand for physical therapy services is increasing, driven by factors such as an aging population and the prevalence of chronic conditions, but there are not enough qualified physical therapists to meet this demand. The physical therapy market faces a shortage of skilled professionals in some regions, this shortage can lead to long wait times for appointments and limit the availability of services, impacting market growth.

• Competition from Alternative Therapies

The physical therapy market faces competition from alternative therapies and treatments, such as chiropractic care, massage therapy, and acupuncture. While physical therapy offers evidence-based treatments supported by research, alternative therapies may be perceived as more accessible or affordable by some patients, impacting market growth for physical therapy service.

This physical therapy market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the physical therapy market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In July 2022, CORA Health Services, Inc., a leading national provider of outpatient physical therapy clinics, introduced a new digital platform for patients. The platform is designed to streamline processes, reduce wait times, and provide a convenient one-stop solution for patients' scheduling needs
• In May 2021, Smith+Nephew, a medical technology company, announced the launch of ARIA Home PT, a remote physical therapy product part of the ARIA suite of solutions. ARIA Home PT offers a personalized experience for patients in the comfort of their homes, providing relevant, actionable data for clinicians. This is achieved through advanced technology, telehealth solutions from licensed physical therapists (PTs), and guidance from digital avatars

Global Physical Therapy Market Scope

The physical therapy market is segmented on the basis of application, age group, end-user, and treatment procedure. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Application

• Orthopedic Physical Therapy
• Geriatric Physical Therapy
• Neurological Physical Therapy
• Cardiopulmonary and Pulmonary Physical Therapy
• Others

Age Group

• Pediatrics
• Adults
• Elderly

End-User

• Hospitals
• Private Practices
• Outpatient Clinics
• Sports and Fitness Facility Centers
• Others

Treatment Procedure

• Equipment
• Therapies
• Products

Global Physical Therapy Market Regional Analysis/Insights

The physical therapy market is analyzed and market size insights and trends are provided by country, application, age group, end-user, and treatment procedure as referenced above.

The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.

North America is expected to dominate the market due to its robust healthcare infrastructure, the significant presence of key market players, a high prevalence of diseases, and an increasing number of regional research initiatives.

Asia-Pacific is expected to witness significant growth during the forecast period due to increasing government initiatives to promote awareness, the rise in medical tourism, growing research activities, the availability of massive untapped markets, a large population pool, and the growing demand for quality healthcare, the region is experiencing significant growth.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The physical therapy market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for physical therapy market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the physical therapy market.

Competitive Landscape and Global Physical Therapy Market Share Analysis

The physical therapy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the global physical therapy market are:

• AmeriCare Physical Therapy (U.S.)
• Rehab Alternatives PLLC (U.S.)
• PIVOT Physical Therapy (U.S.)
• ProHealth Limited (Hong Kong)
• BTL (India)
• DJO LLC (U.S.)
• Performance Health (U.S.)
• Athletico Physical Therapy (U.S.)
• Geisinger Health (U.S.)
• Select Medical Corporation (U.S.)
• Knight Health Holdings, LLC (U.S.)
• Concentra, Inc. (U.S.)
• EMS Physio Ltd. (U.K.)
• U.S. Physical Therapy, Inc. (U.S.)
• Isokinetics (U.S.)

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