Occupational and Physical Therapy Services Market Trends [2031]
Occupational and Physical Therapy Services Market Trends [2031]
Segments - Occupational and Physical Therapy Services Market by Payor (Private Health Insurance and Public Health Insurance), Application (General Therapy, Geriatric Therapy, Orthopedic Therapy, and Others), Setting (Outpatient Clinics, Hospitals, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :HC-5880
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Report Description
Occupational and Physical Therapy Services Market Outlook 2031
The global occupational and physical therapy services market size was USD XX Mn in 2022 and is likely to reach USD XX Mn by 2031, expanding at a CAGR of XX% during 2023–2031. The market growth is attributed to the increasing awareness of rehabilitation benefits and the growing focus on chronic disease management.
Rising incidence of sport-related injuries is anticipated to significantly boost market in the coming year. Growing technological advancements in healthcare lead to more effective and specialized therapies which improve outcomes for patients undergoing rehabilitation.
Occupational and physical therapy services are aimed at assisting individuals in reestablishing their capacity to engage in everyday activities such as self-care, work-related activities, and leisure activities. These therapies play crucial roles in rehabilitation, injury recovery, managing chronic conditions, and improving the overall quality of life for individuals.
The market report finds that the COVID-19 pandemic affected the occupational and physical therapy services market. Many therapy clinics and facilities had to temporarily close or limit their services during the rise of the pandemic due to lockdowns, social distancing measures, and growing concerns about virus transmission.
During the pandemic growing adoption of restrictions and continuing to provide care, many therapists and healthcare providers transitioned to telehealth services. This allowed them to conduct assessments and provide therapy sessions remotely through video conferencing platforms.
Impact of Artificial Intelligence (AI) on the Occupational and Physical Therapy Services Market
Artificial Intelligence (AI) is expected to boost the revenue of the market. This technology can analyze patient data to create customized treatment plans tailored to individual needs by optimizing the therapy process for better outcomes. AI-powered tools provide real-time feedback during exercises while ensuring that patients perform them correctly and safely, which can accelerate recovery.
Occupational and Physical Therapy Services Market Dynamics
Major Drivers
Growing aging population and rising chronic health conditions drive the market. Growing aging population has a natural decline in physical capabilities, which leads to a range of health issues. Occupational and physical therapy services are crucial in helping older individuals maintain their independence, mobility, and overall quality of life.
Chronic pain is a common issue among the older adults, occupational and physical therapy techniques help manage pain and improve functional abilities for active and fulfilling lives. For instance,
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According to the World Health Organization, about one in six individuals globally is expected to be aged 60 years or more in 2030, and around 80% of the aging population is anticipated to live in 2050.
Existing Restraints
Lack of skilled therapists hampers the market. Rising awareness about the benefits of occupational and physical therapy increased the demand for these services. However, there is a limited number of qualified therapists to meet this increasing demand. The shortage of therapists often results in longer wait times for patients seeking therapy leading to worsened health outcomes for individuals.
Emerging Opportunities
Growing technological advancements create lucrative opportunities for the market. New technologies such as virtual reality (VR) and augmented reality (AR) are revolutionizing therapy. They offer immersive environments for rehabilitation exercises which makes therapy more engaging and effective.
Wearable technology provides real-time data on a patient's movements by allowing therapists to monitor progress remotely and make adjustments to treatment plans as needed. This improves the efficiency and effectiveness of therapy.
Scope of the Occupational and Physical Therapy Services Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Occupational and Physical Therapy Services Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Payor (Private Health Insurance and Public Health Insurance), Application (General Therapy, Geriatric Therapy, Orthopedic Therapy, and Others), and Setting (Outpatient Clinics, Hospitals, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
ATI Holdings, LLC; Athletico Physical Therapy; Encompass Health Corporation; Knight Health Holdings, LLC; Premise Health; PT SOLUTIONS; Select Medical Corporation; Upstream Rehabilitation Inc.; U.S. Physical Therapy, Inc.; and WebPT. |
Occupational and Physical Therapy Services Market Segment Insights
Payor Segment Analysis
Based on payor, the occupational and physical therapy services market is divided into private health insurance and public health insurance. The private therapy segment is expected to hold a dominant share of the market during the projection period, due to It provides expanded coverage for healthcare services and provides higher reimbursement rates.
Private health insurance plans typically provide higher reimbursement rates for healthcare providers compared to government-funded programs such as Medicare or Medicaid. They often offer comprehensive coverage for a wide range of healthcare services including occupational and physical therapy. This expanded coverage enhances accessibility to therapy services for individuals who have private insurance.
The public health insurance segment is expected to expand at a significant pace in the coming years increasing demand for government-sponsored programs and it provides targeted services for vulnerable populations. Public health insurance programs are often supported by government funding which makes them more accessible to a wide range of individuals who may not have access to private insurance.
They are designed to support vulnerable populations and many of them require specialized therapy services due to age and disability. This approach increases the possibility of potential patients seeking therapy services.
Application Segment Analysis
On the basis of application, the global market is segregated into general therapy, geriatric therapy, orthopedic therapy, and others. The orthopedic segment is projected to register a high CAGR during the forecast period due to the rising incidence of orthopedic disorders and growing joint replacement surgeries.
Rising incidence of orthopedic disorders is due to factors such as an aging population, sedentary lifestyles, and sports-related injuries. Joint replacement surgeries including hip and knee replacements have been significantly rising in recent years which leads to growing innovation in these surgeries.
Following these surgical procedures, patients typically require extensive physical therapy to regain mobility and functionality, further driving the demand for orthopedic therapy services. For instance,
- In August 2021, Meitra Hospital introduced robotic joint replacement surgery, an advanced technology to ensure quick and comprehensive recovery of patients from joint replacement surgeries.
Setting Segment Analysis
On the basis of setting, the occupational and physical therapy services market is segmented into outpatient clinics, hospitals, and others. The hospital segment is anticipated to register a robust growth rate during the forecast period due to the provision of a wide range of services and specialized patient care.
Outpatient clinics typically offer a comprehensive range of therapy services including physical therapy, occupational therapy, and sometimes other specialized therapies. They often specialize in these therapies which allow them to offer focused and tailored care for a wide range of conditions. This specialization can lead to higher patient satisfaction and better outcomes.
The hospital segment is expected to expand at a significant pace in the coming years, due to the provision of acute care & post-surgical rehabilitation and they help with insurance coverage. Hospitals are equipped to handle acute medical conditions and surgical interventions. Following surgical procedures, patients often require immediate and intensive rehabilitation which makes hospitals a vital setting for therapy services.
They often have established relationships with various insurance providers that facilitate the reimbursement process for therapy services. This makes it more convenient for patients to access therapy within a hospital setting.
Regional Outlook
In terms of region, the global occupational and physical therapy services market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period due to the presence of robust healthcare infrastructure and rising incidence of sports injuries.
North America boasts a robust healthcare infrastructure with well-equipped hospitals, clinics, and rehabilitation centers. This infrastructure supports the delivery of occupational and physical therapy services to make them accessible. Rising incidence of sports injuries is due to the popularity of sports and recreational activities in North America. Athletes and individuals engage in various sports, thus increasing the demand for therapy services to recover from injuries and improve performance.
The market in Europe is projected to grow rapidly during the forecast period, owing to advanced healthcare infrastructure and a strong emphasis on rehabilitation. Europe has a well-established and advanced healthcare infrastructure including advanced hospitals, rehabilitation centers, and outpatient clinics equipped with the latest technologies and therapies.
The region places a high value on rehabilitation services as an integral part of healthcare. The individuals have recognized the benefits of occupational and physical therapy in improving patients' quality of life and facilitating their recovery.
Segments
The occupational and physical therapy services market has been segmented on the basis of
Payor
- Private Health Insurance
- Public Health Insurance
Application
- General Therapy
- Geriatric Therapy
- Orthopedic Therapy
- Others
Setting
- Outpatient Clinics
- Hospitals
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- ATI Holdings, LLC
- Athletico Physical Therapy
- Encompass Health Corporation
- Knight Health Holdings, LLC
- Premise Health
- PT SOLUTIONS
- Select Medical Corporation
- Upstream Rehabilitation Inc.
- U.S. Physical Therapy, Inc.
- WebPT
Competitive Landscape
Key players competing in the global occupational and physical therapy services market are ATI Holdings, LLC; Athletico Physical Therapy; Encompass Health Corporation; Knight Health Holdings, LLC; Premise Health; PT SOLUTIONS; Select Medical Corporation; Upstream Rehabilitation Inc.; U.S. Physical Therapy, Inc.; and WebPT.
These prominent companies adopted development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to expand their consumer base globally. For instance,
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In February 2023, Select Medical Corporation and AtlantiCare partnered to address the escalating demand for rehabilitative care, both in in-patient and outpatient settings. This collaboration led to the establishment of an in-patient hospital alongside 13 outpatient physical therapy centers in Southeastern New Jersey.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Occupational and Physical Therapy Services Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Occupational and Physical Therapy Services Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Occupational and Physical Therapy Services Market - Supply Chain
4.5. Global Occupational and Physical Therapy Services Market Forecast
4.5.1. Occupational and Physical Therapy Services Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Occupational and Physical Therapy Services Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Occupational and Physical Therapy Services Market Absolute $ Opportunity
5. Global Occupational and Physical Therapy Services Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Occupational and Physical Therapy Services Market Size and Volume Forecast by Applications
5.3.1. General Therapy
5.3.2. Geriatric Therapy
5.3.3. Orthopedic Therapy
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Occupational and Physical Therapy Services Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Occupational and Physical Therapy Services Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Occupational and Physical Therapy Services Demand Share Forecast, 2019-2026
7. North America Occupational and Physical Therapy Services Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Occupational and Physical Therapy Services Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Occupational and Physical Therapy Services Market Size and Volume Forecast by Applications
7.4.1. General Therapy
7.4.2. Geriatric Therapy
7.4.3. Orthopedic Therapy
7.4.4. Others
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Occupational and Physical Therapy Services Demand Share Forecast, 2019-2026
8. Latin America Occupational and Physical Therapy Services Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Occupational and Physical Therapy Services Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Occupational and Physical Therapy Services Market Size and Volume Forecast by Applications
8.4.1. General Therapy
8.4.2. Geriatric Therapy
8.4.3. Orthopedic Therapy
8.4.4. Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Occupational and Physical Therapy Services Demand Share Forecast, 2019-2026
9. Europe Occupational and Physical Therapy Services Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Occupational and Physical Therapy Services Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Occupational and Physical Therapy Services Market Size and Volume Forecast by Applications
9.4.1. General Therapy
9.4.2. Geriatric Therapy
9.4.3. Orthopedic Therapy
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Occupational and Physical Therapy Services Demand Share Forecast, 2019-2026
10. Asia Pacific Occupational and Physical Therapy Services Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Occupational and Physical Therapy Services Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Occupational and Physical Therapy Services Market Size and Volume Forecast by Applications
10.4.1. General Therapy
10.4.2. Geriatric Therapy
10.4.3. Orthopedic Therapy
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Occupational and Physical Therapy Services Demand Share Forecast, 2019-2026
11. Middle East & Africa Occupational and Physical Therapy Services Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Occupational and Physical Therapy Services Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Occupational and Physical Therapy Services Market Size and Volume Forecast by Applications
11.4.1. General Therapy
11.4.2. Geriatric Therapy
11.4.3. Orthopedic Therapy
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Occupational and Physical Therapy Services Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Occupational and Physical Therapy Services Market: Market Share Analysis
12.2. Occupational and Physical Therapy Services Distributors and Customers
12.3. Occupational and Physical Therapy Services Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. ATI Holdings, LLC
12.4.2. Athletico Physical Therapy
12.4.3. Encompass Health Corporation
12.4.4. Knight Health Holdings, LLC
12.4.5. Premise Health
12.4.6. PT SOLUTIONS
12.4.7. Select Medical Corporation
12.4.8. Upstream Rehabilitation Inc.
12.4.9. U.S. Physical Therapy, Inc.
12.4.10. WebPT
Methodology
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