Physical Therapy Rehabilitation Solutions Market

Physical Therapy Rehabilitation Solutions Market Size (2023 to 2028) 

The worldwide physical therapy rehabilitation solutions market was valued at USD 26.89 billion in 2023 and is anticipated to reach nearly USD 38.06 billion by 2028, with a rise in CAGR of 7.4% from 2023 to 2028.

 Impact of Covid-19 on the Physical therapy rehabilitation Solutions Market:

The pandemic crisis has negatively impacted the global physical therapy rehabilitation solutions market. The strict isolation and restriction conditions during the pandemic leads to a decline in non-essential healthcare services, thus many physical therapy clinics and rehabilitation centers experienced temporary closures and a decline in patient volumes. The pandemic crisis disrupted the global supply chain which leads to a shortage of certain rehabilitation equipment and services. During the pandemic many people stays at home, so there was a rising adoption of digital health services such as virtual consultation, online exercise programs, and telehealth- telerehabilitation services, this transition improved the continuity of care and created new opportunities for the remote patient monitoring, patient engagement solution with the help of digital tools such as individualized exercise program and digital health apps which focus on rehabilitation the post-pandemic crisis help to fuel the market growth due to adoption of the digital tools and apps. 

Market Drivers:

One of the key factors propelling the growth of the market is the rising advancement in the healthcare sector. The rapid advancement in technology has led to the development of innovative physical therapy rehabilitation solutions, including wearable devices, virtual reality-based rehabilitation, and sensor-based tools to monitor patient progress. The adoption of data analytics and artificial intelligence tools has positively impacted the market because these tools analyze patient data to provide personalized treatment plans and enhance patient satisfaction. The expansion of telehealth services and remote patient monitoring accelerated due to the advancement in technology, hence now it is very easy for the physical therapist to conduct remote consultations, and monitor patient progress. Thus this factor boosted the market growth during the projected period. 

The second major factor fueling the growth of the market is the rising demand for physical therapy services. There is rising awareness among patients related to the value of physical treatment that produces benefits without side effects, also people have access to receive physical therapy from the hospital, outpatient clinics, and fitness activities. People nowadays are more health conscious, they are aware of the importance of fitness and its positive impact on overall health, thus this factor help in fueling the growth of the market during the forecast period. 

The third major factor favoring the growth of the market is the growing aging population and the emerging age-related conditions and disabilities propel the market growth. There is rising the population at a rapid pace, the world health organization estimated that people aged 60 years and older will reach 780 million by 2028, thus there is a rising need for rehabilitation services due to the increasing risk of the developing condition such as orthopedic conditions, stroke that requires physical therapy and rehabilitation services thus this factor increasing the market revenue in the upcoming years and boost the market growth.

The other key factor propelling the growth of the market is the rising demand for physical therapy services, favorable government initiative, expanding insurance coverage, increasing launches and approval of the novel virtual physical therapy solution and rising partnership and collaboration between the market players boosted the growth of the market. 

Market Restraints:

The major factor restraining the growth of the market is the high cost associated with rehabilitation equipment and solutions due to the advancement in the equipment majorly hampers the overall growth of the market. The middle and low-income countries and due to the financial crisis that arises during the pandemic many healthcare facilities can’t afford these services due to their high cost, also the purchasing and maintenance of complex therapy equipment require more expenses thus this factor majorly hampers the growth of the market. The stringent reimbursement policies and limited coverage for physical therapy and rehabilitation treatment and therapies are other obstacles that led to hampering the overall growth of the market. The other factor hindering the growth of the market is the lack of awareness about the benefits of rehabilitation services, lack of trained therapist, limited healthcare infrastructure, and lack of skilled professional this all factor hampering the growth of the market.

Report coverage:

This research report on the global physical therapy rehabilitation solutions market has been segmented and sub-segmented based on the solution, deployment, end-user, application & region.

Physical Therapy Rehabilitation Solutions Market- Based on Solution

• Software
• Hardware

Based on the solutions, the software segment held the largest market share in 2022 and is anticipated to continue to dominate the market at a major share during the projected period. The drivers such as advancements in technology such as telehealth, and digital tools such as data analytics and artificial intelligence which led to access to therapy programs also help in enabling remote patient monitoring and improve the patient outcome through digital platforms, also the emerging emphasis on the data-driven approaches for personalized rehabilitation boost the growth of the software segment. 

The hardware segment is also anticipated to hold a significant market share in the upcoming years, due to the rising prevalence of musculoskeletal disorders and chronic conditions requiring physical therapy, also there is rising awareness among the healthcare authorities about the benefits of using the hardware solutions for rehabilitation propels the growth of the market in the upcoming year.

Physical Therapy Rehabilitation Solutions Market- Based on Application

• Hip Joint
• Spinal Cord Injuries
• Forearm and Wrist Joint
• Shoulder and Elbow Joint
• Knee Join
• Others

Based on application, the hip-joint segment is anticipated to grow at a healthy CAGR during the projected period. The driver driving the growth of this segment is the rising joint replacement surgeries and rising incidences of hip fractures among the aging population. The advancement in the physical therapy technique related to hip joint rehabilitation favors the growth of this segment and boosts the market growth. 

The spinal cord injuries segment is also anticipated to grow at a significant share during the forecast period. The growing incidences of spinal cord injuries, advancement in rehabilitation strategies, and rising awareness about the benefits of early physical therapy intervention in improving outcomes for the individual contribute to the growth of this segment and boost the market growth. 

Physical Therapy Rehabilitation Solutions Market- Based on Deployment

• On-premise
• Cloud-base
• Hybrid

Based on deployment, the cloud-based segment witnessed a higher share of the market during the forecast period. The drivers such as emerging demand for flexible and mobile access to patient data and therapy programs, rising adoption of digital health services, and the growing focus on the integration and interoperability of healthcare systems drive the segment's growth.

The on-premises segment is also anticipated to hold a considerable share of the worldwide market during the forecast period.

Physical Therapy Rehabilitation Solutions Market- Based on End-user

• Ambulatory Surgical Center
• Self-insured Employer
• Healthcare IDN (Integrated Delivery Network)
• Commercial payer
• Physiotherapy Clinics
• Hospitals
• Homecare & Rehabilitation Centers

Based on end-user, the hospital segment is anticipated to hold the largest market share and dominate the market during the projected period. There is a rising prevalence of acute and chronic conditions which require rehabilitation services in hospitals, also the rising investment in advanced physical therapy equipment and technologies in the hospital boosts the growth of this segment and helps to fuel the market growth. 

The physiotherapy clinic segment is also expected to hold a substantial market share in the global market during the forecast period. The rising awareness among the people and technological advancement this factor favors the growth of the segment.

Physical Therapy Rehabilitation Solutions Market- Based on Geography

• North America
• Latin America
• Europe
• Asia-Pacific
• Middle East and Africa

North America is the leading region in the global physical therapy rehabilitation solutions market. This region held the largest market revenue of 41.8% in 2022. The rising prevalence of chronic conditions across the North American region majorly fuels market growth. As per the report published by the CDC stated that around 53 million adults in the U.S. majorly suffer from chronic pain. The other factor includes a rising geriatric population, technological advancement in physical therapy and rehabilitation solutions, growing initiatives, and favorable reimbursement policies these all factor contributed to the overall growth of the market in this region. 

The Asia-Pacific region is expected to show lucrative growth in this region and is anticipated to dominate the market at the fastest CAGR during the projected period. The rising geriatric population in the countries such as India, japan, and china is anticipated to rise the demand for these services. This region has a growing patient pool with certain disabilities will further favor the market expansion. An estimated 403 million people live in the Asia Pacific region, which shows the highest percentage of people living with disabilities. Hence factor such as rising awareness among the population, emerging improvement in the healthcare infrastructure, and the rapid adoption of telehealth and telerehabilitation services fuel the growth of the market in the APAC region. 

Europe region is anticipated to grow at a healthy CAGR during the projected period. The drivers driving the growth of this region include supportive government policies, rising investment in the healthcare infrastructure, and the rising adoption of the telehealth application in this region propels the market growth. The aging population is rapidly rising in European countries, which indicated the necessity of rehabilitation services thus this factor drives the growth of the market in this region. 

Latin America is another region expected to grow at a significant CAGR during the projected period. Factors such as rising healthcare expenditure, advancement in technology, growing geriatric population, and rising prevalence of chronic conditions this all factors fueling the growth of the market.

The Middle East and Africa region is also expected to show lucrative growth and grow at a healthy CAGR in the global market.

Key Market Players:

The prominent key player in the global physical therapy rehabilitation solutions market are Reflexion Health, AC INTERNATIONAL EAST, Cerner Corporation, Kareo Inc., TherapySync, eviCore Healthcare, Meditab, Isalus, Smith Nephew, CoRehab srl, Hinge Health, Inc., SWORD Health, Inc., MIRA Rehab Limited, Motekforce Link, and GESTURETEK HEALTH.

Recent Development in the Market:

In May 2023, Physical Rehabilitation Network and Medical City Healthcare have established a joint venture to run a network of 24 full-service outpatient physical therapy clinics, including one in Flower Mound, across North Texas.

In July 2022, A landmark resolution on enhancing rehabilitation in healthcare systems, backed by 20 nations and introduced by Israel, was adopted by the World Health Assembly. The resolution emphasises the importance of rehabilitation in primary care as well as emergency planning and response and calls for the expansion and integration of rehabilitation into healthcare systems as part of Universal Health Coverage (UHC).