US Physical Therapy Market Size Likely to Expand at a CAGR of 3.1% By 2033

As per the current market research conducted by the CMI Team, the US Physical Therapy Market size is expected to record a CAGR of 3.1% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 52.8 Billion. By 2033, the valuation is anticipated to reach USD 70.1 Billion.

US Physical Therapy Market: Growth Factors and Dynamics

• Aging Population: The increasing number of elderly individuals, more prone to musculoskeletal disorders, arthritis, and other age-related ailments, drives demand for physical therapy services. As the baby boomer generation ages, the need for specialized geriatric care and physical therapy services is expected to rise significantly, ensuring consistent market growth.

• Rising Incidence of Chronic Diseases: Chronic conditions such as diabetes, obesity, and cardiovascular diseases, which often require ongoing physical therapy for management and recovery, are on the rise. This trend necessitates continuous care and rehabilitation, leading to a sustained demand for physical therapy services to improve patient outcomes and manage long-term health issues effectively.

• Increased Awareness and Acceptance: Growing public awareness about the benefits of physical therapy and its increased acceptance as a preventive and rehabilitative measure contribute to market growth. Educational campaigns and advocacy by healthcare providers emphasize the role of physical therapy in enhancing mobility, reducing pain, and improving quality of life, thereby attracting more patients.

• Technological Advancements: Advances in physical therapy techniques and technologies, such as telehealth services, robotic-assisted therapies, and wearable devices for monitoring patient progress, enhance treatment efficacy and accessibility. These innovations provide personalized treatment plans, improve patient engagement, and enable remote monitoring, making physical therapy more efficient and accessible to a broader population.

• Healthcare Reforms and Policies: Government initiatives and healthcare reforms that support physical therapy services, including insurance coverage and reimbursement policies, positively impact the market. Policies promoting preventive care and rehabilitation, along with increased funding for physical therapy programs, ensure that more patients have access to necessary services, fostering market expansion.

• Growth in Sports and Fitness Industry: An increasing focus on fitness and sports, combined with the need for injury prevention and rehabilitation among athletes, boosts the demand for specialized sports physical therapy services. The rise in recreational and professional sports activities has led to a higher incidence of sports-related injuries, necessitating advanced physical therapy interventions to ensure quick and effective recovery.

US Physical Therapy Market: Partnership and Acquisitions

• In 2022, Athletico Physical Therapy bolstered its market position by acquiring Pivot Health Solutions, a provider of onsite health and occupational health services. This strategic move enhances Athletico’s footprint in the eastern region of the United States, expanding its service offerings and client base.

• In 2022, Upstream Rehabilitation Inc. expanded its reach by acquiring Crescent Physical Therapy in South Carolina. This strategic move allows Upstream to extend its services into underserved communities within the state, enhancing accessibility and broadening its footprint in the local healthcare market.

• In 2021, ATI Physical Therapy solidified its presence in Michigan by acquiring Auburn Physical Therapy, which includes four clinics in East Central Michigan. This strategic move enhances ATI’s footprint in the region, adding to its network of over 85 locations across the state

Report Scope

US Physical Therapy Market: COVID-19 Analysis

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

• Decreased Patient Visits: During the COVID-19 pandemic, many physical therapy clinics saw a significant decline in patient visits due to lockdowns, social distancing measures, and patients’ fear of contracting the virus. This led to a reduction in revenue and operational challenges for many practices.

• Shift to Telehealth: The pandemic accelerated the adoption of telehealth services in the physical therapy market. While this allowed some continuity of care, it also posed challenges due to the need for hands-on treatments and limited access to necessary equipment for remote sessions.

• Enhanced Safety Protocols: Physical therapy clinics have implemented stringent safety and sanitation protocols to reassure patients and staff. These measures include frequent disinfection, use of personal protective equipment (PPE), and adjustments to appointment scheduling to minimize contact and ensure social distancing.

• Integration of Telehealth: Building on the rapid adoption during the pandemic, many clinics have integrated telehealth as a permanent feature of their services. This allows them to reach patients who are unable or unwilling to visit in person, providing flexibility and maintaining patient engagement.

• Patient Outreach and Education: Clinics have focused on patient outreach and education to communicate the safety measures in place and the importance of continuing physical therapy for overall health. This includes digital marketing, virtual workshops, and direct communication to rebuild patient trust and encourage return visits.

• Adoption of Hybrid Care Models: A combination of in-person and virtual care models has been adopted to provide comprehensive treatment plans. This hybrid approach allows for initial assessments and periodic in-person visits supplemented by virtual follow-ups, ensuring continuity and effectiveness of care.

• Financial and Operational Adjustments: Many physical therapy practices have made financial and operational adjustments to navigate the post-pandemic landscape. This includes renegotiating leases, adjusting staffing levels, and exploring new revenue streams such as wellness programs and preventative care services to stabilize and grow their businesses.

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

List of the prominent players in the US Physical Therapy Market:

• ATI Physical Therapy Inc.
• Select Medical Holdings Corporation
• US Physical Therapy Inc.
• Upstream Rehabilitation Inc.
• Athletico Physical Therapy
• FYZICAL Therapy & Balance Centers
• Pivot Physical Therapy
• Concentra Inc.
• PT Solutions Physical Therapy
• Kindred Healthcare LLC
• RehabCare Group Inc.
• Spooner Physical Therapy
• COR Physical Therapy
• NovaCare Rehabilitation
• Professional Physical Therapy
• Others

The US Physical Therapy Market is segmented as follows:

By Type of Therapy

• Orthopedic
• Neurological
• Cardiopulmonary
• Geriatric
• Pediatric
• Sports
• Vestibular
• Women’s Health
• Others

By Application

• Acute Care
• Rehabilitation
• Preventative Care
• Occupational Health
• Others

By Age Group

• Pediatrics
• Adolescents
• Adults
• Elderly

By End User

• Hospitals and Clinics
• Home Care Settings
• Outpatient Clinics
• Rehabilitation Centers
• Fitness and Sports Centers
• Others