The latest market report published by Credence Research, Inc. “Global Physical Therapy Rehabilitation Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2030”. The Global Physical Therapy Rehabilitation Market generated revenue of around USD 23.5 billion in 2022 and is anticipated to grow a CAGR of over 7.5% during the forecast period from 2023 to 2030 to reach around USD 38.9 billion in 2030.
Numerous variables support the market’s overall expansion for physical therapy rehabilitation solutions. One of the primary factors driving the expansion of the global market has been the increase in the survival rates of premature infants, stroke victims, and trauma victims, who then require an evaluation and potential medical treatment for physical abnormalities. These therapies help to improve the overall quality of life by addressing social, physical, psychological, and emotional wellness.
The global physical therapy rehabilitation market is bifurcated into Solution, Application, End User and Geography. Based on the solution, the market is categorized into software and hardware. Based on application, the market is categorized into the hip joint, spinal cord injuries, forearms and wrist joints, shoulder and elbow joints, and knee joints. Based on end users, the market is categorized into the ambulatory surgical center, self-insured employers, healthcare IDN (Integrated Delivery Network), commercial payers, govt. Organization, physiotherapy clinics, hospitals, and homecare & rehabilitation centers. The market is segmented based on geography: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
North America dominated the market with a share of more than 40% in 2022. The availability of rehabilitation services, in-home care and outpatient facilities and appealing reimbursement criteria are some of the main factors that encouraged the market’s expansion in the region. Speech-language, occupational, and physical therapy are examples of outpatient therapies covered by Medicare Part B, covering up to 80% of medical costs. Increased disposable income and rising healthcare spending are the other two key factors projected to enhance the market. According to industry sources, the personal disposable income of the American population increased from USD 15,672.8 to USD 16,018.8 between 2020 and 2021.
One of the major challenges is the lack of skilled physical therapists. Physical therapy requires specialised skills and knowledge, and there is currently a shortage of trained professionals globally. This shortage is expected to continue in the coming years, which could limit the growth of the physical therapy rehabilitation market.
Another challenge facing the market is the high cost of treatment. Physical therapy can be expensive, particularly if it requires multiple sessions or lengthy periods of time. This can make it difficult for people to access treatment, which could limit the growth of the market.
Why Buy This Report-
- The report provides a qualitative and quantitative analysis of the global physical therapy rehabilitation market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
- In-depth analysis of the global physical therapy rehabilitation market segmentation based on solution, end user, and application.
- Major countries in each region with their import/export statistics
- The global physical therapy rehabilitation market report also includes analyzing the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
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