Global Occupational Therapy Market, By Product (Cloud-Based, On-Premises), Disease (Mental Disorders, Physical Disorders), Application (Psychological Disorders, Hospital, Others) - Industry Trends and Forecast to 2029
Market Analysis and Size
Occupational therapists (OTs) works with people who have mental health concerns, disabilities, injuries, or impairments on a regular basis. Occupational therapy approaches include assisting children with disabilities to fully participate in school and social settings, injury rehabilitation, and providing support to older people going through physical and cognitive changes.
Data Bridge Market Research analyses that the occupational therapy market was valued at USD 4,410 million in 2021 and is further estimated to reach USD 6,716.82 million by 2029, and is expected to grow at a CAGR of 5.40% during the forecast period of 2022 to 2029.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Cloud-Based, On-Premises), Disease (Mental Disorders, Physical Disorders), Application (Psychological Disorders, Hospital, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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WebPT (US), Premise Health. (US), Net Health (US), CLINICIENT (US), Optima Health Care, Inc. (US), ClinicSource (US), Bio Med International Pvt. Ltd (India), Divine Physiotherapy Equipments (India), Ideal Surgical Company. (India), Alliance Therapy Services (US), Getinge AB (Sweden), Midmark Corporation (US), STERIS (US), Abbott (US), A-dec Inc. (US), and Cantel Medical (US).
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Market Opportunities
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Market Definition
Occupational therapy is a type of medical treatment that involves the patient participating in daily tasks that are beneficial to them. Occupational therapy is assessing and intervening to help people develop or sustain meaningful activities in their lives, whether they are individuals, groups, or communities. Occupational therapy is for patients who are injured, ill, or disabled. The primary goal of occupational therapy is to help people develop, heal, and improve their condition.
Occupational Therapy Market Dynamics
Drivers
Major factors that are expected to boost the growth of the occupational therapy market in the forecast period are as follows:
- Rise in the elderly population
Globally, the geriatric population is rapidly expanding, according to the Population Reference Bureau. Globally, the fast growing geriatric population has resulted in a significant increase in the incidence of chronic diseases will further accelerate the growth of the market.
- Growing research activities
Increased public-private funding for specific research projects is further anticipated to propel the growth of the market.
- Increase in the healthcare expenditure
Healthcare spending per person in the world had increased is further contributing the market growth.
Opportunities
In addition, the technological advances is further estimated to provide potential opportunities for the growth of the occupational therapy market in the coming years.
Restraints/Challenges
On the other hand, the absence of skilled personnel is further projected to impede the growth of the occupational therapy market in the targeted period. However, the unbalanced reimbursement scenario for occupational therapy might further challenge the growth of the occupational therapy market in the near future.
This occupational 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 occupational 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.
COVID-19 Impact on Occupational Therapy Market
The pandemic of COVID-19 has had a huge impact on the occupational therapy market. Various countries' socioeconomic conditions around the world. The worldwide economy has been affected by an exponential increase in COVID-19 instances. During the surge of COVID-19 instances, which resulted in job loss. Since a result, the occupational therapy market suffered a drop as workers and employees were not on the job. However, in the post-COVID scenario, occupational therapy market is projected to be significantly impacted.
Global Occupational Therapy Market Scope and Market Size
The occupational therapy market is segmented on the basis of product, application and disease. The growth amongst these segments will help you analyze meager 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.
Product
- Cloud-Based
- On-Premises
On the basis of product, the occupational therapy market is segmented into cloud-based and on-premises.
Disease
- Mental Disorders
- Physical Disorders
On the basis of disease, the occupational therapy market is segmented into mental disorders and physical disorders.
Application
- Psychological Disorders
- Hospital
- Others
On the basis of application, the occupational therapy market is segmented into psychological disorders, hospital and others.
Occupational Therapy Market Regional Analysis/Insights
The occupational therapy market is analysed and market size insights and trends are provided by country, product, application and disease as referenced above.
The countries covered in the occupational therapy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the occupational therapy market due to the rise in the expenses for research and advancement proficiencies. Furthermore, the growing incidence of mental disorders will further boost the growth of the occupational therapy market in the region during the forecast period.
Asia-Pacific is projected to observe significant amount of growth in the occupational therapy market due to the rise in the government expenses on healthcare sector. Moreover, the growing awareness regarding the occupational therapy in several countries is further anticipated to propel the growth of the occupational therapy market in the region in the coming years.
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 occupational 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 occupational therapy market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the occupational therapy market. The data is available for historic period 2010-2020.
Competitive Landscape and Occupational Therapy Market Share Analysis
The occupational 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 occupational therapy market.
Some of the major players operating in the occupational therapy market are:
- WebPT (US)
- Premise Health. (US)
- Net Health (US)
- CLINICIENT (US)
- Optima Health Care, Inc. (US)
- ClinicSource (US)
- Bio Med International Pvt. Ltd (India)
- Divine Physiotherapy Equipments (India)
- Ideal Surgical Company. (India)
- Alliance Therapy Services (US)
- Getinge AB (Sweden)
- Midmark Corporation (US)
- STERIS (US)
- Abbott (US)
- A-dec Inc. (US)
- Cantel Medical (US)
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