by The global Physical Therapy Rehabilitation Solutions Market is estimated to be valued at US$ 28.86 Bn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Physical therapy rehabilitation solutions are used in physical therapy to help patients with injuries, chronic diseases, and post-surgerical conditions regain mobility and manage pain. They include equipment, software, and virtual reality platforms incorporated for treatments. They provide effective pain relief, recovery from injuries, improvement in mobility and flexibility. Growing cases of sports injuries, road accidents, and chronic diseases like arthritis are increasing demand for efficient rehabilitation solutions to improve outcomes in healing and recovery.
Market key trends:
One of the key trends in the physical therapy rehabilitation solutions market is growing adoption of virtual and digital platforms. Companies are developing various virtual and digital applications integrated with VR headsets, interactive games, and home-based programs to engage and motivate patients for rehabilitation exercises. This is improving compliance and outcomes. Growing focus on evidence-based treatment protocols is also a trend, with market players conducting clinical trials to scientifically validate efficacy of their solutions. Rising chronic diseases prevalence is driving demand for home-based therapy programs delivered through digital means for long-term management as well. Investments into research & development of robot-assisted therapies using exoskeleton robotic devices is another area garnering interest for future growth.
Porter’s Analysis
Threat of new entrants: Low as this industry requires huge capital investments for setting up physical therapy centers and equipment. It also requires trained staff and therapists which takes time and investment.
Bargaining power of buyers: Moderate as there are many service providers in the industry patients and organizations can compare prices and services.
Bargaining power of suppliers: Low as raw material and equipment suppliers serve the whole industry. No single supplier dominates the market.
Threat of new substitutes: Low as there is no close substitute for physical therapy rehabilitation solutions.
Competitive rivalry: High as the market is fragmented with many local and international players competing on service quality and pricing.
Key Takeaways
The Global Physical Therapy Rehabilitation Solutions Market Demand is expected to witness high growth, exhibiting a CAGR of 7.7% over the forecast period of 2023 to 2030, due to increasing prevalence of chronic diseases and rising geriatric population globally.
Regional analysis: North America dominates the Physical Therapy Rehabilitation Solutions Market currently owing to rising healthcare expenditure and increasing adoption of digital physical therapy solutions in the region. Asia Pacific is expected to grow at fastest pace during the forecast period with China and India emerging as highly lucrative markets.
Key players: Key players operating in the Physical Therapy Rehabilitation Solutions Market are Reflexion Health, AC INTERNATIONAL EAST, Cerner Corporation, Kareo, Inc, TherapySync, eviCore healthcare, Meditab, Isalus, Smith+Nephew, CoRehab srl, Hinge Health, Inc, SWORD Health, Inc, MIRA Rehab Limited, Motekforce Link, and GESTURETEK HEALTH. Reflexion Health, Cerner Corporation, and TherapySync collectively account for over 30% share of the global market currently.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
