Market Overview
The Global
Physical Therapy Market is expected to reach a value of
USD 22.4 billion in 2023, and it is further anticipated to reach a market value of
USD 41.8 billion by 2032 at a
CAGR of 7.2%. The market has seen significant growth over the past few years and is predicted to grow significantly during the forecasted period as well.
Physical therapy provides concrete therapeutic benefits, addressing pain & increasing mobility through muscle strengthening. A parallel critical goal involves directing patients toward activities that improve their overall health. These treatments extend above medical settings, including self-directed exercises at home.
Moreover, it proves valuable in post-procedure recovery, helping those rebound from processes like joint replacement & muscle revitalization after extended immobilization. The ongoing progress in
medical techniques has majorly advanced the way we treat & assess physical issues. This, in turn, is expected to drive significant market growth in the forecasted period.
Market Dynamic
Anticipated market growth is driven by the global increase in patient numbers along with advancements in healthcare, several therapeutic options are provided by different facilities, including private clinics & hospitals. The increase in the elderly population & a rising number of ailments further fuel market growth. Additionally, cost-effective rehabilitation solutions increase the demand for physical therapy. Collaborative ventures among industry players continue to expand this heightened growth. In addition, high demand is observed not only in schools but also within the sports & fitness domains.
However, many factors are restraining the market's growth. Mainly, significant investments in research & development need significant infrastructural commitments, along with the high costs associated with sports-related medicine pose a challenge. Furthermore, limited awareness about the benefits of physical therapy is challenging the market's expansion. Additionally, insufficient reimbursement systems & technological limitations in several developing countries are also contributing to these constraints.
Research Scope and Analysis
By Application
The orthopedic therapy segment primarily stands out as the major segment contributing significantly towards the total revenue of the overall market among the applications of the global physical therapy market. This prominence grows from the significant demand for treatments related to the musculoskeletal system, including critical elements like muscles, tendons, bones, joints, & ligaments. Dysfunctions within these areas can significantly hinder both mobility & daily functionalities.
Further, the customized physical therapy provided to the geriatric demographic effectively addresses age-associated conditions, reducing discomfort, and enriching mobility through correct exercises & therapies. Prevailing focal points encompass persistent conditions such as arthritis & osteoporosis. The growing trajectory of orthopedic & geriatric therapy can be attributed to the gradually expanding elderly population.
By Demography
In terms of demographic groups, the physical therapy market is segmented into geriatric & non-geriatric categories. Among these, the non-geriatric segment is one the major driving factors for the growth in the global market, with and is even anticipated for more substantial growth in the forecast period. The growth to the market can be said to be due to the growing number of non-geriatric individuals requiring hospitalization, a trend anticipated to persist in the coming future.
Also, a significant portion of the non-geriatric patient demographic consists of adults having spinal cord issues across the globe. These problems often grow from accidents, either at home or from different sources, leading to an increase in demand for effective physical therapy services.
By Age Group
By age group, elderly people are the major driving age group of the global physical therapy market in 2023, as it focuses on improving their mobility, lessening discomfort, & enhancing overall well-being. By targeting issues such as arthritis, osteoporosis, & mobility limitations, geriatric physical therapy uses proven methods & personalized exercises to fuel independence & ongoing physical activity. As the elderly population increases globally, businesses have a chance to provide customized geriatric physical therapy services, meeting the specific wellness goals of older individuals which will further fuel the market growth during the forecasted period.
By End User
Hospitals & clinics play a major role in the growth of the global physical therapy market in 2023 & is expected to grow rapidly in the coming forecasted period. This is owing to the large number of patients seeking treatment & the introduction of several programs by different
healthcare facilities. Additionally, hospitals & clinics are improving their medical services by setting up specialized units dedicated to physical therapies & post-surgery recovery programs. Meanwhile, other segments of the market are also anticipated to grow steadily during the forecasted period.
The Global Physical Therapy Market Report is segmented based on the following:
By Application
- Orthopedic
- Pediatric
- General
- Neurological
- Geriatric
- Others
By Demography
By Age Group
- Pediatrics
- Adults
- Elderly
By End User
- Hospitals & Clinics
- Community Centers
- Sports Centers
- Convalescent Homes
- Schools & Sports Academies
- Others
Regional Analysis
North America is leading the market by
capturing a significant market share of 39.4%, setting it apart as a leading region for the global physical therapy market. The market in North America is growing owing to an increase in accidents, an increasing growth of osteoporosis, & a growing elderly population. This growth is also supported by the presence of various hospitals & home care providers meeting the need for recovery needs. Moreover, the need for physiotherapy is set to increase, driven by a growing occurrence of chronic conditions such as Parkinsonism, stroke, paralysis, & spinal injuries.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The major players in the global physical therapy market are using strategic approaches like mergers, collaborations, expansions, and acquisitions to grow their competitive edge. These proactive measures are instrumental in extending their market reach & increasing the quality of their services. Major industry players are strongly adopting these strategies to solidify their market position & propel business growth.
For instance, in November 2022, U.S. Physical Therapy, Inc. (USPH), a national provider of outpatient physical therapy clinics & industrial injury prevention services, announced its acquisition of a fourteen-clinic physical therapy practice. Under the deal, USPH secured a 60% stake in the practice, while the original owners had a share of 40%. The transaction cost around USD 19.3 million for the 60% equity share, with potential additional payment dependent on future business performance. Presently, the acquired business creates over USD 9 million in annual revenue & serves approx. 84,000 patients annually.
Some of the prominent players in the Global Physical Therapy Market are:
- DJO LLC
- AmeriCare Physical Therapy
- BTL
- Performance Health
- US Physical Therapy Inc
- EMS Physio Ltd
- PIVOT Physical Therapy
- Rehab Alternative PLLC
- Geisinger Health
- ProHealth Ltd
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Physical Therapy Market:
The global physical therapy market has been majorly impacted by the COVID-19 pandemic & the subsequent recession. Lockdown measures & health concerns led to the temporary shutdown of many clinics, causing a sharp decline in patient visits & revenue. The recession further forced the market as individuals to reevaluate their healthcare expenditures.
However, these challenges also increased the adoption of
telehealth solutions, enabling remote consultations & continuity of care. Physical therapy providers quickly shifted to virtual platforms, showing adaptability & resilience. This period also highlighted the need for diversifying services, like emphasizing home-based exercise plans and remote monitoring. As the healthcare industry carries on to navigate uncertainties, the physical therapy market is anticipated to recover by opting for innovative practices & ensuring patient-centric approaches.
| Report Characteristics |
| Market Size (2023) |
USD 22.4 Bn |
| Forecast Value (2032) |
USD 41.8 Bn |
| CAGR (2023-2032) |
7.2% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Application (Orthopedic, Pediatric, General,
Neurological, Geriatric and Others), By Demography
(Geriatric and Non-Geriatric), By Age Group
(Pediatrics, Adults and Elderly), By End User
(Hospitals & Clinics, Community Centers, Sport
Centers, Convalescent Homes, Schools & Sport
Academies and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
DJO LLC, AmeriCare Physical Therapy, BTL,
Performance Health, US Physical Therapy Inc, EMS
Physio Ltd, PIVIOT Physical Therapy, Rehab
Alternative PLLC, Geisinger Health, ProHealth Ltd,
and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Physical Therapy Market size is estimated to have a value of USD 22.4 billion in 2023 and is
expected to reach USD 41.8 billion by the end of 2032.
North America has the largest market share for the Global Physical Therapy Market with a share of
about 39.4% in 2023.
Some of the major key players in the Global Patch Management Market are DJO LLC, BTL, ProHealth Ltd,
and many others.
The market is growing at a CAGR of 7.2 percent over the forecasted period.