The global physical therapy market is a dynamic sector focused on improving and restoring physical function, mobility, and overall well-being. It encompasses a wide range of therapeutic interventions and exercises tailored to address various musculoskeletal conditions, injuries, and neurological disorders. Physical therapy services aim to enhance patients' quality of life by promoting recovery, managing pain, and preventing further impairment. The market includes outpatient clinics, hospitals, and home healthcare settings where skilled physical therapists provide personalized treatment plans.
Data Bridge Market Research analyses that the Global Physical Therapy Market which was USD 24,708.00 million in 2022, is expected to reach USD 40,891.63 million by 2030, and is expected to undergo a CAGR of 6.50% during the forecast period of 2023 to 2030.
"Aging population drives the market growth"
The aging global population is a significant catalyst for the rising demand for physical therapy services. With advancing age, individuals become more prone to musculoskeletal and neurological conditions that necessitate therapeutic interventions. Physical therapy plays a crucial role in managing pain, enhancing mobility, and facilitating rehabilitation for older individuals. As the prevalence of age-related health issues grows, the need for skilled physical therapists becomes increasingly vital, highlighting the integral role that physical therapy services play in promoting the health, independence, and overall well-being of the elderly population.
What restraints the growth of the global physical therapy market?
" Workforce shortage hamper the market growth"
A pervasive challenge in many regions is the shortage of qualified physical therapists, severely constraining the availability and accessibility of essential physical therapy services. The insufficient supply of skilled professionals creates a significant gap, resulting in prolonged wait times for appointments and diminished access to care for patients in need. This workforce shortage exacerbates the strain on healthcare systems, hindering the timely delivery of critical rehabilitative services.
Segmentation: Global Physical Therapy Market
The global physical therapy market is segmented on the basis of application, age group, end-user, and treatment procedure.
- On the basis application, the market is segmented into orthopaedic physical therapy, geriatric physical therapy, neurological physical therapy, cardiopulmonary and pulmonary physical therapy, and others
- On the basis of age group, the market is segmented into paediatrics, adults, and elderly
- On the basis of end-user, the market is segmented into hospitals, private practices, outpatient clinics, sports and fitness facility centres, and others
- On the basis of treatment procedure, the market is segmented into equipment, therapies, and products
Regional Insights: North America dominates the Global Physical Therapy Market
North America dominates the global physical therapy market due to its robust healthcare infrastructure, the prominent presence of major industry players, a heightened prevalence of diseases, and a surge in research activities within the region. The well-established base of healthcare facilities, coupled with continuous research initiatives and an increasing incidence of health conditions, positions North America as a leader in the provision of physical therapy services. The convergence of these factors solidifies the region's prominence in the global landscape, contributing significantly to the growth and advancements in the field of physical therapy.
Asia-Pacific is expected to dominate the global physical therapy market from 2023 to 2030. The region's substantial growth is fueled by heightened government initiatives promoting awareness, a surge in medical tourism, increasing research activities, untapped markets, a large population base, and a growing demand for quality healthcare. These factors collectively position Asia-Pacific as a key player in the global physical therapy landscape. With an emphasis on healthcare quality and accessibility, the region is poised to witness significant advancements and a robust expansion of physical therapy services over the forecast period.
Recent Developments
- In April 2020, ATI Physical Therapy, a prominent U.S.-based healthcare organization, launched virtual or online physical therapy services, demonstrating an innovative approach to providing outpatient rehabilitation and related healthcare services remotely in response to the evolving healthcare landscape
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The Prominent Key Players Operating in the Global Physical Therapy Market Include:
- 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.)
- US Physical Therapy, Inc. (U.S.)
- Isokinetics.net (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global physical therapy market companies, contact: https://www.databridgemarketresearch.com/contact
Research Methodology: Global Physical Therapy Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
