May 29, 2024

Physical Therapy Rehabilitation Solutions Is Expected To Be Flourished By Growing Geriatric Population

Physical therapy rehabilitation solutions provide a variety of treatments to restore function, improve mobility, relieve pain, and prevent or limit permanent physical disabilities in patients suffering from injury or disease through physical methods like exercise, massage, heat treatment and hydrotherapy. Some key products used in physical therapy include modalities like ultrasound, electrical stimulation and heat/cold therapy equipment which are designed to reduce pain and swelling. The global physical therapy rehabilitation solutions market also includes braces and supports, closed looped systems, resistance & assistance products, McKenzie products and accessories.

The global Physical Therapy Rehabilitation Solutions Market is estimated to be valued at Us$ 33.25 Mn in 2023 and is expected to exhibit a CAGR Of 4.3% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The growing geriatric population worldwide acts as a major driver for the physical therapy rehabilitation solutions market. As per the World Health Organization, the number of people aged 65 years and above is expected to rise from 703 million in 2019 to 1.5 billion in 2050 globally. Older adults are at higher risk of mobility issues, injuries and diseases due to age-related changes which increases the demand for physical therapy rehabilitation products and services. Additionally, the establishment of more rehabilitation centers and availability of insurance coverage for physical therapies in many countries have fueled the adoption of various physical therapy rehabilitation solutions. North America especially United States is the largest market for physical therapy rehabilitation solutions owing to supportive reimbursement scenario and availability of advanced products. However, Asia Pacific region is expected to witness highest growth over the forecast period with presence of emerging economies like India and China and growing healthcare infrastructure.

 

Segment Analysis

 

The physical therapy rehabilitation solutions market can be segmented into services, products and application. The services segment is dominating the market owing to the increasing need for physical therapy services with rising geriatric population and chronic diseases. The services sub-segment includes physiotherapy, occupational therapy and others.

PEST Analysis

Political: Governments across the globe are focusing on preventive healthcare by promoting physical therapy and rehabilitation services. This is driving investments and regulations in this market.

Economic: Rising healthcare spending coupled with growing disposable income is fueling the demand for physical therapy rehabilitation solutions. The rising incidence of injuries from accidents and sports is also boosting the market growth.

Social: Changing lifestyles and increased workload is leading to sedentary lifestyle among people. This is increasing the risk of chronic diseases and injuries requiring physical therapy rehabilitation solutions.

Technological: Advancements in biomaterials and 3D printing technologies are aiding the development of innovative solutions for fractures and musculoskeletal injuries repairs. This is further expanding the application areas of physical therapy rehabilitation solutions.

Key Takeaways

The Global Physical Therapy Rehabilitation Solutions Market Demand  is expected to witness high growth over the forecast period 2024 to 2031 driven by the increasing geriatric population suffering from mobility issues. The global Physical Therapy Rehabilitation Solutions Market is estimated to be valued at US$ 33.25 Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 to 2031.

Regional analysis :

The North American region holds over 30% share of the global physical therapy rehabilitation solutions market led by the US and Canada. This can be attributed to factors such as rising healthcare spending, presence of major players and favorable reimbursement policies in the region promoting the uptake of physical therapy.

Key players :

 

Key players operating in the physical therapy rehabilitation solutions market are CoorsTek, Inc., Kyocera Corporation, Morgan Advanced Materials, CeramTek, BONESUPPORT, COLLAGEN MATRIX, BERKELEY ADVANCED BIOMATERIALS INC., and CERAMTEC. These players are focused on developing innovative biomaterial-based solutions for musculoskeletal injuries and mobility issues.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it