PUBLISHER: The Business Research Company | PRODUCT CODE: 1484843
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484843
Physical therapy rehabilitation involves a structured process aimed at restoring function, mobility, and strength to individuals recovering from injury, illness, or surgery. Physical therapists employ specialized exercises, manual therapy techniques, and other interventions to enhance patients' overall well-being and assist them in reclaiming independence in their daily activities.
The primary solutions available for physical therapy rehabilitation encompass both software and hardware components. Software comprises programs and instructions that dictate the operations of computers or electronic devices. These solutions cater to various applications such as hip joints, spinal cord injuries, forearm and wrist joints, shoulder and elbow joints, knee joints, among others. They serve a wide array of end users, including ambulatory surgical centers, self-insured employers, integrated delivery networks (IDNs), commercial payers, government entities, physiotherapy clinics, hospitals, as well as homecare and rehabilitation centers.
The physical therapy rehabilitation market research report is one of a series of new reports from The Business Research Company that provides physical therapy rehabilitation market statistics, including physical therapy rehabilitation industry global market size, regional shares, competitors with a physical therapy rehabilitation market share, detailed physical therapy rehabilitation market segments, market trends and opportunities, and any further data you may need to thrive in the physical therapy rehabilitation industry. This physical therapy rehabilitation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The physical therapy rehabilitation market size has grown strongly in recent years. It will grow from $22.97 billion in 2023 to $25.17 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The expansion observed in the historical period can be attributed to several factors. These include heightened awareness of preventive healthcare practices, advancements in technology facilitating better healthcare outcomes, a growing aging population requiring increased medical attention, a rise in the prevalence of chronic diseases necessitating rehabilitation efforts, and the widening availability of insurance coverage enabling more individuals to access healthcare services. These elements collectively contributed to the growth and development of physical therapy rehabilitation during this period.
The physical therapy rehabilitation market size is expected to see strong growth in the next few years. It will grow to $36.44 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The anticipated growth in the forecast period can be attributed to several key factors. These include the sustained demand for healthcare services driven by demographic shifts such as the aging population, ongoing technological advancements enhancing treatment options, the continued expansion of insurance coverage, and regulatory changes impacting healthcare delivery. Major trends expected in the forecast period encompass the increasing demand for telerehabilitation services, particularly due to pandemic-related restrictions on in-person visits, the growing integration of artificial intelligence (AI) and wearable technology in rehabilitation practices, the expanding geriatric population leading to increased demand for rehabilitation services, a rise in sports-related injuries necessitating rehabilitation interventions, and a greater emphasis on preventive care and wellness initiatives.
The escalating number of accidents and injury cases is poised to drive growth in the physical therapy rehabilitation market. This increase is attributed to factors such as distracted driving, insufficient safety measures, and heightened risk-taking behavior. Physical therapy rehabilitation plays a pivotal role in facilitating recovery and restoring mobility for individuals affected by accidents and injuries. For example, a report by the European Commission in October 2023 highlighted a concerning trend, with 20,640 deaths on EU roads recorded the previous year, indicating a 4% increase compared to 2021 as traffic levels rebounded post-pandemic. This underscores the critical importance of physical therapy rehabilitation in addressing the consequences of accidents and injuries, thus fueling the growth of the physical therapy rehabilitation market.
Leading companies in the physical therapy rehabilitation market are prioritizing the adoption of advanced technologies, particularly AI-powered solutions, to gain a competitive advantage. These AI-based solutions offer enhanced patient care, streamlined therapy sessions, and improved treatment outcomes. By employing machine learning algorithms to analyze patient data, monitor progress, tailor treatment plans, and deliver real-time feedback to therapists and patients, these solutions revolutionize rehabilitation practices. For instance, Fujitsu Limited introduced Fujitsu Healthcare Solution HOPE ROMREC in February 2021, an AI-powered physical rehabilitation solution. Leveraging AI technology, this solution accurately measures shoulder and elbow joint range of motion from rehabilitation session videos, providing medical institutions with an efficient tool for rehabilitation and orthopedic therapies. Key features include automatic joint range of motion measurement using an image analysis AI engine, voice input functionality for measured values, and seamless data linkage with electronic medical records systems.
In September 2023, Enlyte Corporate expanded its network offerings and clinical services through the acquisition of Therapy Direct, underscoring its commitment to growth and innovation in the rehabilitation market. Therapy Direct, a US-based provider of rehabilitation services and solutions, brings valuable expertise and resources to Enlyte Corporate, enhancing its position in the market and broadening its service portfolio. This strategic acquisition reinforces Enlyte Corporate's dedication to providing comprehensive cost-containment solutions and further solidifies its presence in the rehabilitation sector.
Major companies operating in the physical therapy rehabilitation market are Medline Industries LP, Baxter International Inc., Cerner Corporation, Smith+Nephew, Invacare Corporation, Caremax Rehabilitation Equipment Co. Ltd, eviCore healthcare MSI LLC, Drive DeVilbiss Healthcare, SWORD Health Inc, Kareo Inc, Hinge Health Inc, Saunders Group, Reflexion Health, Graham-Field, Isalus LLC, Dynatronics Corporation, Meditab, Alimed Medical Supplies, Carex Health Brands, Roma Medical Aid Ltd, Motekforce Link, Hausmann Industries, GestureTek HEALTH, TherapySync, MIRA Rehab Limited
North America was the largest region in the physical therapy rehabilitation market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the physical therapy rehabilitation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the physical therapy rehabilitation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The physical therapy rehabilitation market consists of revenues earned by entities by providing services such as physiotherapy, occupational therapy, and speech therapy that help with improving mobility, reducing pain, and improving overall quality of life for individuals recovering from injuries, illnesses, or surgeries. The market value includes the value of related goods sold by the service provider or included within the service offering. The physical therapy rehabilitation market also includes sales of resistance bands, balance boards, therapy balls, foam rollers, electrical stimulation devices, and hot and cold therapy packs. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Physical Therapy Rehabilitation Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on physical therapy rehabilitation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for physical therapy rehabilitation ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The physical therapy rehabilitation market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.