by Physiotherapy services play a crucial role in rehabilitation and pain management through physical exercise and physical modalities such as heat, cold, ultrasound and muscle massage. Physiotherapy treats musculoskeletal problems, cardiopulmonary and neuro-muscular conditions, and sports injuries. It aims to improve mobility, relieve pain, increase strength and physical performance. Global demand for physiotherapy services has grown substantially with rising lifestyle diseases, work-related musculoskeletal disorders and increasing health awareness.
The Global Physiotherapy Services Market is estimated to be valued at US$ 55.23 Bn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Global Physiotherapy Services Market Demand are ProRehab Physical Therapy, Physiotherapy Associates, Encompass Health, Upright Health, Select Medical Corporation, Rehacare, Celtic Healthcare, ATI Physical Therapy, GymnaUniphy, The Movement Clinic, Fyzical, Aspetar, Athletico Physical Therapy, Physitrack, Apollo Hospitals Enterprise Ltd. Key players are focusing on digital physiotherapy solutions and telehealth services to expand their market share.
Growing global disease burden of chronic diseases such as cardiovascular diseases, diabetes, cancer and lifestyle diseases has increased the demand for physiotherapy services. Developing economies are witnessing increased health expenditure and demand for quality rehabilitation services for better quality of life.
The global physiotherapy services market is expanding with entry of new players and consolidation of existing players. Market leaders are investing in advanced technologies and establishing global presence through mergers and acquisitions. International players are entering developing country markets through franchising and public-private partnerships.
Market key trends
Digital physiotherapy and telehealth services are gaining traction in the global physiotherapy market driven by need for flexible and affordable physiotherapy services. Virtual reality, augmented reality, mobile apps, wearable sensors and telehealth platforms are expanding access to physiotherapy and assisting in remote monitoring, especially post-Covid. Tech-enabled physiotherapy solutions are finding increased adoption with advantages of personalized care, enhanced compliance and reduced costs. This trend is expected to accelerate over the forecast period.
Porter’s Analysis
Threat of new entrants: Low barrier to entry, however established players dominate market share.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes.
Bargaining power of suppliers: Suppliers have low bargaining power due to availability of substitute products and suppliers.
Threat of new substitutes: Low threat of substitutes due to specialized nature of physiotherapy services however threat is moderate from other wellness services.
Competitive rivalry: High competition due to presence of large number of regional and established international players.
Geographical Regions
North America accounts for the largest share in the global physiotherapy services market in terms of value owing to increasing prevalence of chronic diseases and increasing healthcare expenditure.
Asia Pacific is expected to witness fastest growth over the forecast period supported by expanding medical tourism industry, growing geriatric population, increasing income levels and favorable government initiatives to promote sports physiotherapy.
The largest share of global physiotherapy services market in terms of value is concentrated in developed regions of North America and Europe due to availability of advanced infrastructure and high awareness levels regarding physiotherapy. However, Asia Pacific region is anticipated to emerge as the fastest growing geographical market on back of rapid economic development, rising health conscious population and increasing healthcare investments in emerging countries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
