Physiotherapy services involve physical therapies that are prescribed by doctors to treat different injuries and illnesses without use of medication or surgery. Physiotherapy services helps in reducing pain and improving mobility of patients suffering from chronic illnesses, musculoskeletal problems and sports injuries by using various physical techniques including therapeutic exercise, therapeutic massage, ultrasound and other customised therapies. With rise in lifestyle diseases, work related musculoskeletal disorders and injuries among the elderly, demand for physiotherapy services has increased significantly.
The Global Physiotherapy Services Market is estimated to be valued at US$ 55.23 Bn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Global Physiotherapy Services Market Growth are ProRehab Physical Therapy, Physiotherapy Associates, Encompass Health, Upright Health, Select Medical Corporation, Rehacare, Celtic Healthcare, ATI Physical Therapy, GymnaUniphy, The Movement Clinic, Fyzical, Aspetar, Athletico Physical Therapy, Physitrack, Apollo Hospitals Enterprise Ltd. Rising geriatric population suffering from limited mobility and chronic illnesses is driving the demand for physiotherapy services globally. Technological advancements in virtual physiotherapy solutions and personalized treatment plans is expected to bolster the market growth during the forecast period.
Market Trends
Increasing consolidation in the industry: Key players in the market are focusing on expansion through mergers and acquisitions to consolidate their presence and enhance service offerings. For instance, Encompass Health acquired home health and hospice provider Home Health Caregivers of America in 2023 to enhance post-acute services.
Rise of telephysiotherapy: With advancements in telehealth and virtual care solutions, telephysiotherapy services allowing virtual consultation and treatment have gained traction during the pandemic. Key players are investing in virtual platforms to provide remote treatment plan monitoring and consultation.
Market Opportunities
Geriatric population: Growing geriatric population is more prone to chronic musculoskeletal conditions creating lucrative opportunities. Favorable government initiatives for elderly care will drive the demand.
Emerging markets: Emerging countries are expected to offer higher growth potential driven by unmet needs, health awareness and increasing healthcare expenditure in regions like Asia Pacific and Latin America.
Impact of COVID-19 on Global Physiotherapy Services Market Growth
The COVID-19 pandemic severely impacted the growth of the global physiotherapy services market. During the initial lockdown periods in various countries, regular physiotherapy services were temporarily suspended. This led to a sharp decline in the overall market revenues. Patients were reluctant to visit physiotherapy clinics due to fears of contracting the virus. Telehealth and virtual physiotherapy services gained prominence as an alternative. However, the adoption of telehealth was also limited by availability and accessibility of necessary technology infrastructure.
As lockdown restrictions started easing from mid-2020, physiotherapy clinics resumed limited operations with strict safety protocols. Only emergency and high priority cases were prioritized initially. Gradual normalization of economic activities helped revive market demands. The pandemic also raised public awareness about the importance of preventive healthcare and rehabilitation needs. This boosted the preference for physiotherapy services over long term. However, workforce shortages and delayed elective procedures are still posing challenges in some geographies. Overall, the market is anticipated to regain its pre-pandemic growth levels in the coming years backed by continued digitalization drives and service innovations.
North America has been the most lucrative regional market for physiotherapy services globally. Various factors such as high healthcare expenditure, early adoption of advanced therapies, and presence of prominent market players have contributed to its leading position. However, Asia Pacific is expected to emerge as the fastest growing regional market post Covid. Countries like China, India, and Indonesia show strong potential for future market expansion backed by growing middle class populations, increasing healthcare investments, and developing healthcare infrastructures. While Europe and rest of world markets will also steadily recover and offer attractive opportunities.
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