Rehabilitation Therapy Services Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Therapy (Occupational Therapy, Speech and Language Therapy, Physical Therapy, Cognitive Therapy, and Others); Service (Outpatient Rehabilitation Services and Inpatient Rehabilitation Services); Application (Orthopedic, Neurological, Cardiologic, Pulmonary, Sports Related Injuries, and Others); End-User (Hospitals and Clinics, Rehab Centers, Homecare Settings, and Physiotherapy Centers); and Region/Country
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.
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 are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst therapy, the physical therapy category accounted for the significant share in the market in 2020”
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, 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.
“Amongst service, the outpatient rehabilitation services category is expected to witness considerable CAGR during the forecast period”
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.
“Amongst application, the orthopedic category is expected to witness considerable CAGR during the forecast period”
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 orthopedic conditions such as arthritis, and spinal, ankle, and hip injuries aided the segment’s growth during the forecast period.
“Amongst end-users, the hospitals and clinics category is expected to witness considerable CAGR 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 hospitals and clinics segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. 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
“North America to witness significant growth during the forecast period”
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.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the Rehabilitation Therapy Services Market|
|2.2.||Research Methodology of the Rehabilitation Therapy Services Market|
|5||IMPACT OF COVID-19 ON THE REHABILITATION THERAPY SERVICES MARKET|
|6||GLOBAL REHABILITATION THERAPY SERVICES MARKET REVENUE, 2020-2028F|
|7.2.||Speech and Language Therapy|
|8.1.||Outpatient Rehabilitation Services|
|8.2.||Inpatient Rehabilitation Services|
|9.5.||Sports Related Injuries|
|10.1.||Hospitals and Clinics|
|11.1||NORTH AMERICA REHABILITATION THERAPY SERVICES MARKET|
|11.1.3||Rest of North America|
|11.2||EUROPE REHABILITATION THERAPY SERVICES MARKET|
|11.2.6||Rest of Europe|
|11.3||ASIA PACIFIC REHABILITATION THERAPY SERVICES MARKET|
|11.3.5||Rest of Asia Pacific|
|11.4||REST OF THE WORLD REHABILITATION THERAPY SERVICES MARKET|
|13||REHABILITATION THERAPY SERVICES MARKET OPPORTUNITIES|
|14||REHABILITATION THERAPY SERVICES MARKET TRENDS & INSIGHTS|
|15.1||Demand Side Analysis|
|15.2||Supply Side Analysis|
|16||VALUE CHAIN ANALYSIS|
|17.1.1||Porter’s Five forces analysis|
|18.1.||Shirley Ryan AbilityLab|
|18.2.||The Priory Group|
|18.4.||The University of Chicago Medical Center|
|18.5.||Therapy Solutions Inc|
|18.6.||Genesis Rehab Services|
|18.7.||Athletico Physical Therapy|
|18.10.||CORA Health Services Inc|
Research Methodology for the Global Rehabilitation Therapy Services Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global rehabilitation therapy services market were the three major steps undertaken to create and analyze the adoption of rehabilitation therapy services in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global rehabilitation therapy services market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the rehabilitation therapy services market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the rehabilitation therapy services market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as the therapy, service, application, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the rehabilitation therapy services market. Further, we conducted factor analysis using dependent and independent variables such as an increasing patient suffering across the globe from conditions such as musculoskeletal, neurological, and cardiologic conditions, etc. globally. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the rehabilitation therapy services market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global rehabilitation therapy services market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the rehabilitation therapy services market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global rehabilitation therapy services market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global rehabilitation therapy services market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of therapy, service, application and end-users in the global rehabilitation therapy services market.
The main objective of the Global Rehabilitation therapy services Market Study
The current & future market trends of the global rehabilitation therapy services market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the rehabilitation therapy services market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of therapy, service, application, and end-users.
- Define and analysis of the regulatory framework for the rehabilitation therapy services market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the rehabilitation therapy services market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the rehabilitation therapy services market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry