Global Physical Therapy Market Size Likely to Surpass at a CAGR of 7.5% By 2033

As per the current market research conducted by the CMI Team, the global Physical Therapy Market size is expected to record a CAGR of 7.5% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 30,553.2 Million. By 2033, the valuation is anticipated to reach USD 58,577.8 Million.

Physical Therapy Market: Growth Factors and Dynamics

• Aging Population: The aging population is driving significant growth in the physical therapy market. As people age, they are more prone to musculoskeletal and neurological conditions that require physical therapy for rehabilitation and management, leading to increased demand for services.

• Prevalence of Chronic Conditions: The rising prevalence of chronic conditions such as obesity, diabetes, and cardiovascular diseases has led to a greater need for physical therapy interventions. Physical therapy plays a crucial role in managing these conditions, and improving mobility, function, and overall quality of life for patients.

• Advancements in Technology: Technological advancements in physical therapy modalities and equipment, such as robotics, virtual reality, and wearable devices, are driving market growth. These innovations improve treatment outcomes, enhance patient engagement, and enable more personalized and efficient rehabilitation programs.

• Shift Towards Preventive Care: There is a growing emphasis on preventive healthcare and early intervention to prevent the onset or progression of chronic conditions and injuries. Physical therapy plays a key role in preventive care by promoting physical activity, addressing musculoskeletal imbalances, and educating patients on injury prevention strategies.

• Expanding Scope of Practice: The expanding scope of practice for physical therapists, including direct access to patients without a physician referral in many regions, has contributed to market growth. This increased autonomy allows physical therapists to provide timely interventions, improving patient access to care and driving demand for services.

• Healthcare Policy and Reimbursement Changes: Changes in healthcare policies and reimbursement models, including value-based care initiatives and increased coverage for physical therapy services, have positively impacted market dynamics. These changes incentivize healthcare providers to focus on delivering high-quality, cost-effective care, leading to greater utilization of physical therapy services.

• Focus on Sports Medicine and Rehabilitation: The growing emphasis on sports medicine and rehabilitation has become a significant driver of growth in the physical therapy market. With the increasing participation in sports and fitness activities, there is a higher incidence of sports-related injuries. Physical therapy plays a crucial role in the rehabilitation of athletes, helping them recover from injuries, improve performance, and prevent future injuries, thus driving demand for specialized sports rehabilitation services.

Physical Therapy Market: Partnership and Acquisitions

• In 2022, U.S. Physical Therapy, Inc. bolstered its market presence by acquiring a six-clinic physical therapy practice in West Virginia and Pennsylvania. This strategic move not only expanded the company’s footprint but also reinforced its market position in the region.

• In 2022, Athletico Physical Therapy bolstered its market presence in the eastern region by acquiring Pivot Health Solutions, an onsite health and occupational health service provider. This strategic move enhances Athletico’s ability to offer comprehensive services and expand its reach in the country’s eastern markets.

Report Scope

Physical Therapy Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Physical Therapy Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Disruption of In-Person Services: During the height of the pandemic, many physical therapy clinics faced closures or restrictions on in-person visits due to lockdowns and social distancing measures, leading to a significant decline in patient volumes and revenue.

• Shift to Telehealth Services: To adapt to the challenges posed by COVID-19, many physical therapy practices rapidly adopted telehealth services to provide remote consultations and exercise prescriptions. While telehealth helped mitigate the impact of clinic closures, it also presented challenges related to reimbursement, technology access, and patient engagement.

• Gradual Resumption of In-Person Services: As vaccination rates increase and COVID-19 restrictions ease, physical therapy clinics are gradually reopening for in-person services. This allows patients to receive hands-on care and personalized treatment plans tailored to their specific needs.

• Hybrid Care Models: Many physical therapy practices are adopting hybrid care models that combine in-person sessions with telehealth visits. This hybrid approach offers flexibility for patients and providers, allowing for continuity of care while accommodating individual preferences and circumstances.

• Focus on Safety Measures: Physical therapy clinics are implementing rigorous safety protocols to ensure the health and well-being of patients and staff. This includes enhanced cleaning and sanitation procedures, screening protocols, and adherence to social distancing guidelines to create a safe environment for care delivery.

• Expansion of Services and Specializations: To meet evolving patient needs and capitalize on emerging opportunities, physical therapy practices are diversifying their service offerings and expanding into new specialties such as post-COVID rehabilitation, chronic pain management, and mental health support.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Physical Therapy Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Physical Therapy Market:

• Select Medical Corporation
• Encompass Health Corporation
• Kindred Healthcare LLC
• Concentra Inc.
• ATI Physical Therapy
• NovaCare Rehabilitation
• Kessler Rehabilitation Center
• S. Physical Therapy Inc.
• Athletico Physical Therapy
• HealthSouth Corporation
• FYZICAL Therapy & Balance Centers
• Results Physiotherapy
• CORA Physical Therapy
• Pivot Physical Therapy
• SPEAR Physical Therapy
• Others

The Physical Therapy Market is segmented as follows:

By Type of Therapy

• Orthopedic Physical Therapy
• Neurological Physical Therapy
• Cardiovascular and Pulmonary Rehabilitation
• Pediatric Physical Therapy
• Geriatric Physical Therapy
• Sports Physical Therapy
• Women’s Health Physical Therapy
• Others

By Setting of Care

• Outpatient Clinics
• Hospitals
• Rehabilitation Centers
• Home Care Settings
• Schools and Educational Institutions
• Fitness and Wellness Centers

By Treatment Modality

• Manual Therapy
• Therapeutic Exercise
• Electrotherapy Modalities
• Heat and Cold Therapies
• Aquatic Therapy
• Massage Therapy
• Dry Needling
• Others

By Patient Age Group

• Pediatric Patients
• Adult Patients
• Geriatric Patients

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America