Global Physiotherapy Services Market is driven by growing geriatric population and healthcare reforms
Global Physiotherapy Services Market overview: Physiotherapy services aim to improve mobility and reduce pain through various physical methods without the use of drugs. It involves evaluating patients, determining diagnoses, establishing prognoses and plans of treatment interventions. It works by strengthening muscles, maintaining joint mobility, improving posture and breathing, reducing swelling, and promoting overall fitness. Regional rehabilitation hospitals and specialty clinics are the main providers of physiotherapy along with multi-specialty hospitals.
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 Size 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. With the growing geriatric population and rise in chronic diseases, the demand for physiotherapy services is increasing globally. Furthermore, governments across countries are undertaking healthcare reforms to widen the coverage of physiotherapy services to benefit larger populations.
The growing geriatric population is more susceptible to mobility issues, joint pains, fractures and other physical impairments leading to higher demand for physiotherapy services globally. Furthermore, prevalence of lifestyle diseases and road accidents has increased rapidly over the past decade. Physiotherapy offers non-invasive treatment methods to effectively treat chronic pain, mobility issues and recovery from accidents or surgeries.
Key players are expanding globally through mergers & acquisitions and partnerships to consolidate their presence and tap the high growth regions. For example, in 2021, Encompass Health acquired home health and hospice operations from Aliquippa, PA to expand in West Pennsylvania region. Upright Health partnered with online medtech company Hinge Health to integrate digital therapeutics into its virtual and in-clinic experience.
Market drivers
Growing geriatric population and healthcare reforms are expected to be the major market drivers. As per United Nations data, the global geriatric population is projected to reach 1.5 billion by 2050 from 703 million in 2019. The ageing population is more vulnerable to mobility issues, joint pains and chronic diseases requiring physiotherapy services. Furthermore, governments globally are undertaking healthcare reforms and increasing coverage of physiotherapy services under public health insurance to benefit larger populations and improve accessibility. This will significantly boost the demand for physiotherapy over the forecast period.
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