Physiotherapy Services Market – An Overview
The global physiotherapy services market is expected to witness strong growth during the forecast period between 2021 and 2031.
Physiotherapy services are offered to patients suffering from mobility disorders. Usually performed by physiotherapists, physiotherapy involves an interaction between a patient and a physiotherapist in a bid to diagnose a patient’s movement.
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Physiotherapy services have proven beneficial in the treatment of different medical conditions such as musculoskeletal dysfunction conditions, cardiopulmonary conditions such as COPD and cystic fibrosis, and neurological disorders such as Parkinson’s disease and stroke.
The outbreak of the COVID-19 pandemic negatively impacted the growth in the overall physiotherapy services market.
With governments imposing stringent social distancing regulations and lockdowns in a bid to contain the spread of the virus, different medical procedures and elective surgeries at healthcare facilities such as hospitals were significantly restricted. This affected the physiotherapy services demand and lowered the overall market growth, too.
But with the subsequent reduction in cases and vaccine availability, it is anticipated that healthcare professionals would be permitted to perform different medical procedures, leading to increased demand for physiotherapy services and helping the market grow at a steady pace.
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Physiotherapy Services Market – Trends and Opportunities
Rising prevalence of orthopedic disorders in leading economies globally is the key growth driver for the physiotherapy services market.
Also, growing awareness about the benefits of physiotherapy services among population sections in developing economies such as India is expected to fuel the growth in the overall physiotherapy services market, in future. Advancements to existing services with integration with new technologies could propel the global physiotherapy services market, in the years ahead.
Other factors such as rising geriatric population worldwide could contribute to the growth of the global physiotherapy services market, in the coming years.
Orthopedic and geriatric physiotherapy services segment is expected to make the largest contribution to the overall market because of increasing deployment of physiotherapy services to cure patients suffering from geriatric diseases.
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Physiotherapy Services Market – Competitive Landscape
The global physiotherapy services market is still at a developing stage, with the presence of very few players. Many of these players could engage in different growth strategies such as novel product launches, in a bid to gain a competitive edge over others.
Leading heat therapy market player Sunbeam, in December 2020, launched a new ‘GoHeat Cordless Heating Pad’ with the objective to relieve patients of pain and cure injured muscles, whether from home or outside.
The smaller market players will seek funding from private investors, which they could use for research and development undertakings in a bid to produce improved quality of products that would meet the customer requirements.
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Market players who are witnessing strong growth could, at a later stage, look to collaborate with smaller players in a bid to expand their market presence and increase their revenue shares.
Some of the leading players in the global physiotherapy services market include AmeriCare Physical Therapy, Sunbeam, FullMotion Physical Therapy, Meier and Marsh Physical Therapy, and Elam Sports Oahu.
Physiotherapy Services Market – Regional Assessment
The global physiotherapy services market is divided into five regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
North America is expected to be the dominant region in the global physiotherapy services market because of increasing number of patients suffering from osteoporosis in countries such as US and Canada.
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Europe is expected to witness significant growth in the overall physiotherapy services market because of rising geriatric population in countries such as UK and Germany.
Asia Pacific is anticipated to witness strong growth in future because of increasing aging population as well as growing medical tourism industry in countries such as India and China.
Other regions of the world such as Middle East and Africa and Latin America are expected to witness moderate growth in the global physiotherapy services market, in the coming years.
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