Global Physical Therapy Services Market: Overview

Physical therapy involves various techniques employed to alleviate pain and bring mobility to injured human body parts such as limbs and joints. It provides a new lease of life for people affected with major musculoskeletal and neuromuscular problems, acquired or genetic. It is also given to patients post surgeries such as joint replacement surgery and muscle repair surgery, where a body part is immobilized for an elongated period. Since advances in medicine have increased the survival rate of premature infants, and trauma and stroke victims, need for assessment and possible treatment with their biophysical problems has grown. This is leading global physical therapy services market on to a higher growth curve.

It is pertinent to note here that an increase in number of people belonging to the geriatric age group and in incidence of sports injuries is contributing positively to growth in the market. As per Transparency Market Research, the market will record sturdy CAGR over the forecast period of 2020 to 2030.

Global Physical Therapy Services Market: Competitive Landscape

The physical therapy services market is fragmented due to the presence of numerous players in this market. Top players that are shaping the competitive landscape with their proactive growth measures are mentioned below:

  • Patterson Medical Holdings, Inc.
  • Enraf-Nonius
  • DJO Global
  • Select Medical
  • Kindred Healthcare, Inc.
  • Concentra Operating Corporation
  • BTL Industries
  • EMS Physio Ltd.
  • US Physical Therapy, Inc.
  • Isokinetic, Inc.

The competitive vendor landscape is experiencing a slew of organic and inorganic strategies being deployed by top market players to slice off a larger market share. These include improvement in services, adoption of advanced technology, key alliances based on strategic considerations.

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Global Physical Therapy Services Market: Key Trends and Drivers

While simple massaging and movement techniques form the basis of physical therapy, there are various specialized instruments available in this market which facilitates more effective pain relief and rehabilitative treatments. This is leading to higher demand for physical therapy services. Glimpses into top factors that are impacting the market over the forecast period are provided below:

  • With a growing geriatric population, falls are common both in household and outdoor settings. This is a natural outcome of malfunctioning of joints with age, which would lead to an increase in need for physical therapy services.
  • More people in the world are actively participating in sports activities and strenuous physical exercise and this is leading to higher number of related injuries. It is major growth factor in the market.
  • Surgical replacement of joints with chronic pain and dysmobility will adversely affect the physical services market, but again, surgical procedures are often followed with physical therapy to ensure speedy return to function for the individual.

Global Physical Therapy Services Market: Regional Analysis

North America will account for a massive share of revenue in the global market owing to increase in cases of accidents and mishaps, in the incidence of osteoporosis, and in number of old people (60 and above). As per a recent study, the number of Americans aged 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060.

The Asia Pacific (APAC) region is projected to witness an impressive growth rate in the coming years due to increase in disposable income (outcome of robust economic growth), and improving healthcare infrastructure.

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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