by Physiotherapy refers to a medical treatment method that addresses various health conditions related to injury, surgery, disease or disability through the use of physical exercises and therapies. Physiotherapists are health care professionals who helps patients reduce pain, restore mobility, and improve movement through a variety of physical therapy techniques. Common physiotherapy treatments include therapeutic exercise, muscle stretching, ultrasound therapy, electrotherapy, heat therapy and aquatic therapy. Physiotherapy has proven highly effective in managing musculoskeletal pains and injuries, sports injuries, neurological conditions and cardiopulmonary ailments. The growing geriatric population suffering from mobility issues and the rising incidence of chronic conditions are majorly driving the demand for physiotherapy services globally.
The Global Physiotherapy Services Market is estimated to be valued at US$ 55.23 Billion 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 Demand 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.
The growing geriatric population suffering from age-related physical disabilities and the rising incidence of chronic diseases such as cardiovascular diseases, cancers, respiratory diseases, and diabetes are driving the demand for physiotherapy services. Physiotherapy plays a vital role in improving mobility and quality of life for both aged and disabled individuals.
Globally, physiotherapy services market is witnessing strong growth in developing regions owing to rising healthcare awareness, increasing healthcare expenditure and emergence of major players in Asia Pacific and Latin American countries. Major players are expanding their operations in these regions through investments and acquisitions to leverage high growth opportunities.
Market Key Trends
One of the key trends gaining traction in the physiotherapy services market is the shift towards remote/home-based physiotherapy care. The COVID-19 pandemic has fueled this shift as social distancing became imperative. Major players have adopted digital and virtual care models to continue serving patients through telehealth platforms, online consultations and prescription of home exercises. This remote care model offers convenience to patients and aids early recovery. It also allows higher patient volume for physiotherapists. The trend towards remote physiotherapy is expected to continue post pandemic as well due to strengthened digital capabilities and growing patient preference for convenience and minimized hospital visits.
Porter’s Analysis
Threat of new entrants: Low startup costs and expertise but brand loyalty and reputation is key in the industry.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and buyers can negotiate pricing and compensation.
Bargaining power of suppliers: Suppliers have moderate bargaining power as materials and supplies required for offering physiotherapy are not highly specialized.
Threat of new substitutes: Threat of new alternative treatment options available like chiropractics, massages, acupuncture however physiotherapy remains one of the most effective treatment options.
Competitive rivalry: High due to presence of numerous local and regional players offering similar services.
Geographical Regions
North America accounts for the largest share in the global physiotherapy services market in terms of value. This is attributed to factors such rising geriatric population and prevalence of chronic diseases.
Asia Pacific is expected to witness the fastest growth over the forecast period in the global physiotherapy services market. This is due to increasing healthcare expenditure, growing middle-class population and rising awareness regarding physiotherapy treatment.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
