Global Physical Therapy Market – Industry Trends and Forecast to 2030

Global Physical Therapy Market, By Application (Orthopaedic Physical Therapy, Geriatric Physical Therapy, Neurological Physical Therapy, Cardiopulmonary and Pulmonary Physical Therapy, Others), Age Group (Paediatrics, Adults, Elderly), End-User (Hospitals, Private Practices, Outpatient Clinics, Sports and Fitness Facility Centres, Others), Treatment Procedure (Equipment, Therapies, Products) – Industry Trends and Forecast to 2030.

 Physical Therapy Market Analysis and Size

Physical therapy is a term that refers to a variety of procedures used to relieve pain and restore mobility to injured human body parts like limbs and joints. It gives those with serious musculoskeletal and neuromuscular issues, whether acquired or inherited, a new lease on life. It is also administered to patients after procedures such as joint replacement and muscle restoration, in which a bodily portion is immobilised for an extended length of time. Physical therapy involves the use of various products and equipment to aid in the rehabilitation, treatment, and management of physical impairments or injuries. Products used in physical therapy are: therapeutic exercise equipment, modalities, assistive devices, massage tools and among others. This is propelling the global physical therapy market to new heights.                   

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. “Orthopaedic physical therapy” dominates the application segment of the global physical therapy market owing increasing prevalence of diseases 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

Market Definition

Physical therapy is a type of treatment that employs practises such as exercise, massage, and others to alleviate any sickness or wound. Geriatric physical treatments, cardiac and pulmonary physiotherapy, neurological physiotherapy, and other sorts of fleshly therapies are some of the most common. It gives those with serious musculoskeletal and neuromuscular issues, whether acquired or inherited, a new lease on life. It is also administered to patients after procedures like joint replacement and muscle restoration, in which a bodily portion is immobilised for an extended length of time.         

Global Physical Therapy Market Dynamics

Drivers

• Aging Population

As the global population continues to age, the demand for physical therapy services increases. Older individuals are more susceptible to various musculoskeletal and neurological conditions that require physical therapy interventions for pain management, mobility improvement, and rehabilitation.

• Rising Prevalence of Chronic Diseases

The prevalence of chronic diseases such as arthritis, cardiovascular disorders, diabetes, and obesity is on the rise globally. Physical therapy plays a crucial role in managing and treating these conditions, leading to increased demand for physical therapy services.

• Increasing Awareness of Physical Therapy Benefits

The awareness about the benefits of physical therapy is growing among individuals, healthcare professionals, and insurers. Physical therapy is recognized as an effective and non-invasive treatment option for a wide range of conditions, leading to greater acceptance and demand.

Opportunities

• Telehealth and Remote Services

The COVID-19 pandemic has accelerated the adoption of telehealth and remote healthcare services. Physical therapy providers can leverage this opportunity by offering vir​​​​​​​tual consultations, remote monitoring, and home-based exercise programs. Telehealth allows for increased access to care, especially for individuals in rural or underserved areas.

• Preventive and Wellness Services

Physical therapy is not only used for treating injuries and conditions but also for preventive care and promoting wellness. There is an opportunity to expand physical therapy services to include preventive screenings, ergonomic assessments, workplace wellness programs, and fitness consultations.

Restraints/Challenges

• Reimbursement Challenges

Reimbursement policies and limitations imposed by healthcare payers can pose a significant restraint on the global physical therapy market. Insurance coverage limitations, reimbursement rates, and pre-authorization requirements can create financial barriers for both patients and physical therapy providers.

• Workforce Shortage

There is a shortage of qualified physical therapists in many regions, which limits the availability and accessibility of physical therapy services. The demand for physical therapy may outpace the supply of skilled professionals, leading to increased wait times for appointments and reduced patient access to care.

This global 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 global 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 Development

• In April 2020, ATI Physical Therapy, a privately held, nationally recognised healthcare organisation based in the United States that specialises in outpatient rehabilitation and related healthcare services, has introduced a virtual or online physical therapy service

Global Physical Therapy Market Scope

The global 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 analyse 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 global physical therapy market is analysed 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  global  physical 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 global physical therapy market because of the strong base of healthcare facilities, strong presence of major players in the market, increases prevalence of diseases and rising number of research activities in this region. 

Asia-Pacific is expected to witness significant growth in the global physical therapy market during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, and the growing demand for quality healthcare in the region.

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 global 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 global physical therapy market, impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on the global physical therapy market. The data is available for historic period 2015-2020.

Competitive Landscape and Global Physical Therapy Market Share Analysis

The global 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 global physical therapy 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.)
• US Physical Therapy, Inc. (U.S.)
• Isokinetics.net (U.S.)