Physical Therapy Services Market

Physical Therapy Services Market Outlook (2024 to 2034)

The valuation of the global physical therapy services market is set to reach US$ 131.4 million in 2024 and climb to US$ 192.2 million by the end of 2034. The market has been thoroughly analyzed to expand at a 3.9% CAGR from 2024 to 2034, according to this new research study by Fact.MR, a marketing intelligence provider.

Physical therapy, also referred to as physiotherapy or PT, is a branch of medicine that involves the use of patient education, physical intervention, disease prevention, and health promotion to promote, maintain, or restore health. In the United States, these practitioners are referred to as physical therapists, whereas in many other countries, the word "physiotherapist" is used.

The market for physical therapy services consists of a wide range of healthcare services to promote function, mobility, and quality of life for people with physical injuries, impairments, or disabilities. Licensed physical therapists specializing in mobility improvement, pain management, and function restoration offer these services. They evaluate patients' requirements, create individualized treatment plans, and carry out therapeutic interventions.

Key Market Growth Drivers

• The prevalence of long-term illnesses, including obesity, diabetes, cardiovascular disease, and arthritis, is rising globally, which is boosting the demand for physical therapy services.
• The physical therapy services market size is expanding at a steady pace as these services play an important role in managing chronic disorders.
• New product launches and technological developments in rehabilitation such as robots, wearables, virtual reality, and telemedicine platforms, are increasing the efficacy and range of physical therapy services.
• Technological advancements are contributing to market growth as they allow more effective care delivery, remote monitoring, and customized treatment programs.
• Key market players are conducting online campaigns to attract more people by spreading awareness of the benefits of physical therapy, such as how it improves health outcomes and lowers medical expenses.
• Preventive physical therapy services aim to promote musculoskeletal health, prevent injuries, and optimize functional independence.
• Outpatient rehabilitation programs are becoming more popular, driven by patient demand, cost-effectiveness, and convenience.
• Home health agencies, rehabilitation facilities, and outpatient physical therapy clinics are focusing on expanding their offerings in response to the rising demand for outpatient rehabilitation services.

Report Attribute	Detail
Physical Therapy Services Market Size (2024E)	US$ 131.4 Million
Forecasted Market Value (2034F)	US$ 192.2 Million
Global Market Growth Rate (2024 to 2034)	3.9% CAGR
North America Market Share (2024E)	38.6%
East Asia Market Value (2024E)	US$ 25 Million
Revenue from Orthopedic Physical Therapy Services (2034F)	US$ 37.9 Million
Sports Rehabilitation Segment Value (2034F)	US$ 30.3 Million
Long-Term Care Facilities Segment Value (2034F)	US$ 57.5 Million
Key Companies Profiled	BTL; Select Physical Therapy; NovaCare Rehabilitation; ProHealth Limited; Rehab Alternatives PLLC; Athletico Physical Therapy; Enhabit Home Health & Hospice; U.S. Physical Therapy, Inc.; ATI Physical Therapy; Drayer Physical Therapy Institute; EMS Physio Ltd.; CORA Health Services, Inc.; Professional Physical Therapy.

Which Physical Therapy Services Market Trends are Providers Leveraging to Maximize Profits?

“Technological Advancements and Increased Awareness of Benefits of Physical Therapy”

Technological advancements and increasing digital applications are contributing to market growth as service providers are using them to spread knowledge, service information, pricing, offers, etc., to increase sales. Due to increased awareness of the benefits of physical therapy and rehabilitation in enhancing quality of life, reducing medical costs, and improving functional outcomes, more individuals are seeking these services.

Various healthcare service models, such as multidisciplinary care teams, patient-centered medical homes, and accountable care organizations, are incorporating physical therapy into their operations.

How are Other Therapies Creating Roadblocks for Physical Therapy Services Market Growth?

“Reliance on Self-management Approaches Due to Cultural Beliefs and Personal Preferences”

Competition with other alternative therapies is becoming a challenge for providers of physical therapy services, as patients have several options to choose from for musculoskeletal conditions, pain management, and rehabilitation. Alternative therapies such as acupuncture, chiropractic care, massage therapy, and herbal remedies also appeal to individuals based on cultural beliefs, personal preferences, or perceived efficacy.

Self-management approaches, including exercise programs, lifestyle modifications, and over-the-counter remedies, offer patients autonomy and convenience in addressing their healthcare needs. As patients weigh these options, their choices may impact the demand for physical therapy services.

Country-wise Insights

With 30.6% of the global physical therapy services market share, North America is estimated to lead in 2024, and its position is further projected to strengthen due to favorable reimbursement policies. The South Asia & Pacific region is also evaluated to provide lucrative market opportunities during the forecast period due to favorable cultural attitudes towards health and rehabilitation in many countries.

How is Robust Healthcare Infrastructure in the United States Driving Market Growth?

“Wide Availability of Physical Therapy Services Enabling Access to Specialized Care”

Attribute	United States
Market Value (2024E)	US$ 46 Million
Growth Rate (2024 to 2034)	4.6% CAGR
Projected Value (2034F)	US$ 73 Million

Robust infrastructure of the healthcare sector in the United States includes an excellent network of facilities such as hospitals, clinics, rehabilitation centers, and outpatient facilities that offer physical therapy services. This extensive infrastructure makes it easy for people to access physical therapy services to maintain their health and fitness. The availability of physical therapy services in diverse settings is boosting sales volume as patients seek specialized care and rehabilitation.

Why is China Projected to Provide Ample Opportunities in the Future?

“Increasing Prevalence of Obesity, Diabetes, and Musculoskeletal Disorders”

Attribute	China
Market Value (2024E)	US$ 17 Million
Growth Rate (2024 to 2034)	5.1% CAGR
Projected Value (2034F)	US$ 28 Million

In China, due to the vast population, the number of patients with chronic diseases is also high, which includes cardiovascular diseases, diabetes, obesity, and musculoskeletal disorders. The current state of health underscores the importance of physical therapy in treating various ailments. Physical therapy interventions aid in recovery, alleviate symptoms, and prevent chronic disease-related complications, attracting patients to choose these services. Amid this health crisis, there is a rise in demand for physical therapy services due to the increasing need for effective treatment and preventative care across China.

Category-wise Insights

Based on location, the market is segmented into hospital facilities, ambulatory surgical centers, long-term care facilities, skilled nursing facilities, and physician-owned physical therapy clinics. Long-term care facilities are expected to account for 26.1% of revenue share in 2024.

Why is Sports Physical Therapy in Such High Demand?

“Greater Susceptibility of Athletes to Injuries on Field and Need to Expedite Recovery”

Attribute	Sports Physical Therapy
Segment Value (2024E)	US$ 22.4 Million
Growth Rate (2024 to 2034)	3.1% CAGR
Projected Value (2034F)	US$ 30.6 Million

Individuals involved in sports such as cricket, football, basketball, pole vault, hammer throw, volleyball, javelin throw, and many others need physical therapy services as they face injuries on the game field. To overcome pain and recover fast, they opt for these services. Also, to overcome sport-related injuries, players or individuals seek intervention and rehabilitation.

Sports physical therapy plays an important role in the recovery of athletes and individuals who participate in physical activities. These therapies are designed to treat sports injuries, such as sprains, strains, fractures, and dislocations, and help improve performance by addressing muscular imbalances, reducing pain, and enhancing flexibility and range of motion.

Why is Application of Physical Therapy Services Growing in Pre- & Post-Operative Care?

“Role of Physical Therapy in Improving Patient Outcomes and Reducing Medical Expenses”

Attribute	Pre & Post-operative Care
Segment Value (2024E)	US$ 18.6 Million
Growth Rate (2024 to 2034)	5.4% CAGR
Projected Value (2034F)	US$ 31.6 Million

The use of physical therapy services in pre and post-operative care is expanding because of the advantages it provides in terms of better patient outcomes and lower medical expenses. Pre-operative care is greatly enhanced by physical therapy, which helps patients become more physically fit and healthy before surgery as well as educates them on what to expect both before and after the treatment. This speeds up the patient's recuperation and lowers the chance of problems occurring during and after surgery.

Competitive Landscape

The market for physical therapy services is highly competitive and fragmented. Several key players in the physical therapy services market ranging from large hospitals to small clinics are competing to increase their profit margins, strengthen their positions, and attract patients based on factors such as pricing, quality of service, and serval types of services offered. As people have started to adopt physical therapy services, new players are also entering the market, which is further making it more competitive.

• In May 2022, Golden Bear Therapy Partners, now known as Therapy Partners Group, announced its partnership with FIT Physical Therapy, a privately held physical therapy organization with six facilities in southern Utah and Nevada that is run by physical therapists.
• In May 2022, Kelly Services Inc. acquired Pediatric Therapeutic Services, a company that offers speech-language pathology, physical therapy, occupational therapy, and mental and behavioral health services.
• In December 2019, the Physical Rehabilitation Network (PRN) of Carlsbad, California, announced that it had acquired Team Rehab, an outpatient integrative care company located in Portland, Oregon, that runs three rehabilitation clinics. With this acquisition, PRN now has 26 clinics in the Pacific Northwest.

Fact.MR provides detailed information about the price points of leading providers of physical therapy services positioned across the world, sales growth, production capacity, and speculative technological expansion in this new market report.

Segmentation of Physical Therapy Services Market Research

• By Service Type :

  • Orthopedic Physical Therapy
  • Geriatric Physical Therapy
  • Neurological Physical Therapy
  • Cardiopulmonary Physical Therapy
  • Pediatric Physical Therapy
  • Sports Physical Therapy
  • Vestibular Rehabilitation
  • Women's Health Physiotherapy

• By Application :

  • Acute & Chronic Pain
  • Burn & Trauma Cases
  • Pre- & Post-operative Care
  • Sports Rehabilitation
  • Neurological Disorders
  • General Orthopedic
  • Cardiovascular Disorders
  • Vestibular Therapy
  • Lymphedema
  • Others

• By Location :

  • Hospital Facilities
  • Ambulatory Surgical Centers
  • Long-term Care Facilities
  • Skilled Nursing Facilities
  • Physician-Owned Physical Therapy Clinics

• By Region :

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa