Rehabilitation Therapy Services Market: Current Analysis and Forecast (2022-2028)
Description
Rehabilitation Therapy Services Market: Current Analysis and Forecast (2022-2028)
The rehabilitation therapy services market is expected to register a CAGR of approx. 7% over the period of 2022-2028. Rehabilitation is defined as a range of actions taken to improve an individual's functioning in relation to their environment in order to lessen a variety of disabilities. Various carefully curated programs, such as in-patient rehabilitation and outpatient rehabilitation are available as rehabilitation therapy services. Rehabilitation therapy services can help people avoid surgery and heal from a variety of conditions. Rehabilitation therapy centers are in high demand because they can benefit both individuals and society. Global rehabilitation therapy services can be attributed to the increasing patient suffering across the globe from conditions such as musculoskeletal, neurological, and cardiologic conditions. For instance, according to WHO, approximately 1.71 billion people have musculoskeletal conditions worldwide. Owing to these glaring statistics are due to the increase in the geriatric population and the rise in the incidence of disabilities which increases the demand for rehabilitation therapy services and would contribute to the growth of the market in the forthcoming period as well. Furthermore, the rehabilitation therapy services market is anticipated to grow on account of the increasing instances of drug abuse, alcoholism, and depression. However, some of the restraints in the market including the advent of the high cost of rehabilitation therapy services and the lesser number of rehab centers in developing countries are impeding the growth of this market all over the world.
The rehabilitation therapy services market is expected to register a CAGR of approx. 7% over the period of 2022-2028. Rehabilitation is defined as a range of actions taken to improve an individual's functioning in relation to their environment in order to lessen a variety of disabilities. Various carefully curated programs, such as in-patient rehabilitation and outpatient rehabilitation are available as rehabilitation therapy services. Rehabilitation therapy services can help people avoid surgery and heal from a variety of conditions. Rehabilitation therapy centers are in high demand because they can benefit both individuals and society. Global rehabilitation therapy services can be attributed to the increasing patient suffering across the globe from conditions such as musculoskeletal, neurological, and cardiologic conditions. For instance, according to WHO, approximately 1.71 billion people have musculoskeletal conditions worldwide. Owing to these glaring statistics are due to the increase in the geriatric population and the rise in the incidence of disabilities which increases the demand for rehabilitation therapy services and would contribute to the growth of the market in the forthcoming period as well. Furthermore, the rehabilitation therapy services market is anticipated to grow on account of the increasing instances of drug abuse, alcoholism, and depression. However, some of the restraints in the market including the advent of the high cost of rehabilitation therapy services and the lesser number of rehab centers in developing countries are impeding the growth of this market all over the world.
- Based on the therapy, the rehabilitation therapy services market is segmented into occupational therapy, speech and language therapy, physical therapy, cognitive therapy, and others. The physical therapy segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe. The use of physical therapy for a variety of ailments, including cardiovascular, musculoskeletal, neurologic, sports injuries, burns, and wound care, is a significant factor that has contributed to the market's expansion.
- Based on the service, the market is fragmented into outpatient rehabilitation services and inpatient rehabilitation services. The outpatient rehabilitation services segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. Disability rates are rising as a result of increased rates of burn injuries, cerebral palsy, and child developmental disorders. During the forecast period, these factors are expected to drive the segment. Furthermore, the availability of advanced equipment at the facilities is expected to increase patient adoption of outpatient services.
- Based on the application, the market is fragmented into orthopedic, neurological, cardiologic, pulmonary, sports related injuries, and others. The orthopedic segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. The rising prevalence of orthopaedic conditions such as arthritis, and spinal, ankle, and hip injuries aided the segment's growth during the forecast period.
- Based on the end-users, the market is fragmented into hospitals and clinics, rehab centers, homecare settings, and physiotherapy centers. The increasing number of patients undergoing rehabilitation at hospitals and clinics has contributed to the segment's growth. The segment is expected to grow during the forecast period, driven by an increase in the number of people with chronic illnesses and disabilities.
- For a better understanding of the market adoption of rehabilitation therapy services, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, U.K., and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the rehabilitation therapy services industry owing to increased adoption of advanced products, increased per capita healthcare expenditure, increased penetration of retail stores, and the presence of strong healthcare infrastructure, which has significantly driven the market growth in the region. Moreover, the rising geriatric population in the U.S., the availability of rehabilitation services in-home care and outpatient facility, and favorable reimbursement policies are some of the key factors that favored the growth of the market in the region. For instance, according to the US Census Bureau, more than 20% of the US population will be over the age of 65 years by 2029.
- Some of the major players operating in Shirley Ryan AbilityLab, Prism Medical, Paradigm Healthcare, The University of Chicago Medical Center, Therapy Solutions Inc, Genesis Rehab Services, Smart Speech Therapy LLC, Banner Health, Spectrum Physio, CORA Health Services Inc among others. Several M&A’s along with partnerships have been undertaken by these players.
Table of Contents
167 Pages
- 1 MARKET INTRODUCTION
- 1.1. Market Definitions
- 1.2. Main Objective
- 1.3. Stakeholders
- 1.4. Limitation
- RESEARCH METHODOLOGY OR ASSUMPTION
- 2.1. Research Process of the Rehabilitation Therapy Services Market
- 2 2.2. Research Methodology of the Rehabilitation Therapy Services Market
- 2.4. Respondent Profile
- 3 MARKET SYNOPSIS
- 4 EXECUTIVE SUMMARY
- 5 IMPACT OF COVID-19 ON THE REHABILITATION THERAPY SERVICES MARKET
- 6 GLOBAL REHABILITATION THERAPY SERVICES MARKET REVENUE, 2020-2028F
- 7 MARKET INSIGHTS BY THERAPY
- 7.1. Occupational Therapy
- 7.2. Speech and Language Therapy
- 7.3. Physical Therapy
- 7.4. Cognitive Therapy
- 7.5. Others
- 8 MARKET INSIGHTS BY SERVICE
- 8.1. Outpatient Rehabilitation Services
- 8.2. Inpatient Rehabilitation Services
- 9 MARKET INSIGHTS BY APPLICATION
- 9.1. Orthopedic
- 9.2. Neurological
- 9.3. Cardiologic
- 9.4. Pulmonary
- 9.5. Sports Related Injuries
- 9.6. Others
- 10 MARKET INSIGHTS BY END-USERS
- 10.1. Hospitals and Clinics
- 10.2. Rehab Centers
- 10.3. Homecare Settings
- 10.4. Physiotherapy Centers
- 11 MARKET INSIGHTS BY REGION
- 11.1 NORTH AMERICA REHABILITATION THERAPY SERVICES MARKET
- 11.1.1 U.S.
- 11.1.2 Canada
- 11.1.3 Rest of North America
- 11.2 EUROPE REHABILITATION THERAPY SERVICES MARKET
- 11.2.1 Germany
- 11.2.2 U.K.
- 11.2.3 France
- 11.2.4 Spain
- 11.2.5 Italy
- 11.2.6 Rest of Europe
- 11.3 ASIA PACIFIC REHABILITATION THERAPY SERVICES MARKET
- 11.3.1 China
- 11.3.2 Japan
- 11.3.3 India
- 11.3.4 South Korea
- 11.3.5 Rest of Asia Pacific
- 11.4 REST OF THE WORLD REHABILITATION THERAPY SERVICES MARKET
- 12 REHABILITATION THERAPY SERVICES MARKET DYNAMICS
- 12.1 Market Drivers
- 12.2 Market Challenges
- 12.3 Impact Analysis
- 13 REHABILITATION THERAPY SERVICES MARKET OPPORTUNITIES
- 14 REHABILITATION THERAPY SERVICES MARKET TRENDS & INSIGHTS
- 15 DEMAND AND SUPPLY SIDE ANALYSIS
- 15.1 Demand Side Analysis
- 15.2 Supply Side Analysis
- 16 VALUE CHAIN ANALYSIS
- 17 COMPETITIVE SCENARIO
- 17.1. Competitive Landscape
- 17.1.1 Porter’s Five forces analysis
- 18 COMPANY PROFILED
- 18.1. Shirley Ryan AbilityLab
- 18.2. The Priory Group
- 18.3. Paradigm Healthcare
- 18.4. The University of Chicago Medical Center
- 18.5. Therapy Solutions Inc
- 18.6. Genesis Rehab Services
- 18.7. Athletico Physical Therapy
- 18.8. Banner Health
- 18.9. Spectrum Physio
- 18.10. CORA Health Services Inc
- 19 DISCLAIMER
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