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:
The physical therapy rehabilitation solutions market consists solutions such as web-based applications, mobile applications, and hardware devices that help physical therapists streamline administrative tasks, communicate better with patients, and facilitate the delivery of virtual and in-person rehabilitation services. The growing aging population suffering from disabilities and chronic conditions is driving the demand for physical therapy rehabilitation services. The need to improve post-surgery recovery and reduce healthcare costs is also boosting adoption of physical therapy rehabilitation solutions across the globe.
Market key trends:
One of the key trends in the Global Physical Therapy Rehabilitation Solutions Market Size is the rising popularity of telehealth and virtual physical therapy. The Covid-19 pandemic has accelerated the adoption of telehealth applications as they allow physical therapists to evaluate, educate and monitor patients remotely. Many physical therapy clinics are also offering hybrid models combining in-person and virtual sessions to provide greater flexibility to patients. Another trend is the integration of artificial intelligence and sensor technologies in rehabilitation devices. Wearable sensors can track patient activity and movements during recovery while AI tools help analyze data to optimize treatment outcomes. This is gaining significance as data-driven physical therapy yields better clinical outcomes.
Porter’s Analysis
Threat of new entrants: High capital requirements for equipment and certified professionals pose challenges for new entrants in this market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and suppliers capable of meeting large demands.
Bargaining power of suppliers: Suppliers of rehabilitation equipment and service providers have moderate bargaining power due to switching costs for buyers and availability of substitutes.
Threat of new substitutes: Alternative treatment options like medications, surgeries pose threat of substitution.
Competitive rivalry: Intense competition exists among existing players investing in innovation and service quality.
Key Takeaways
The global Physical Therapy Rehabilitation Solutions Market is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing prevalence of chronic diseases. The market size for 2023 is US$ 28.86 Bn.
Regional analysis: North America dominates the market and is expected to continue its dominance over the forecast period owing to increasing healthcare expenditure and high awareness about physical therapies. Asia Pacific exhibits high growth potential for the market supported by expansion of healthcare facilities and growing medical tourism in the region.
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. These players are investing in innovation and partnership strategies to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
