Physical Therapy Software Market Growth & Trends
The global physical therapy software market size is expected to reach USD 2.52 billion by 2030, registering a CAGR of 11.0% during the forecast period, according to a new report by Grand View Research, Inc. Advancement in health IT technologies, growing investments in healthcare sector, integration of practice management with other health IT solution are the factors expected to drive the market growth. Furthermore, benefits associated with physical therapy software such as generating less paperwork, reducing billing errors, and other benefits supports in market growth.
As physical therapists have expanded into more diverse and autonomous practice locations, they are required to make more operative and efficient clinical decisions. Making sound clinical conclusions needs the right information at the right time and in the right format. Hence, physical therapy software expected to cater such market demand, in turn, promotes the market growth.
Since the emergence of COVID-19, every industry has grappled with how to do business and deliver services to their constituents, clients, and patients. Consistent with an American Physical Therapy Association (APTA) report from August 2020, nearly half of the clinic owners shut their doors at some point in the initial months of the pandemic. A large majority of clinic owners informed revenue losses. Physical therapists and their assistants faced reduced hours and income as they navigated an exclusively new way of providing services: telehealth visits.
Effective standardization of the functions and correct data management became even more important to the successful delivery of care across populations. Thus, the healthcare organizations are investing in a software solution to tackle the challenges of managing repetitive tasks, follow-ups, and become compliant with the healthcare guidelines, thus, expected to drive the market growth.
From the computers growth that better track patient medical records to handheld devices that stimulate healing at the cellular level, technology has constantly evolved to better assist individuals— the patients. And nowadays, technology can better aid therapy practice. In the physical therapy world, new advancements in technology are taking place. In February 2021; Alliance Physical Therapy partners introduced Outpatient Therapy EMR Software. Agile EMR can bring together, all the essential elements of compliance, documentation, billing, and care, coordinating into one complete platform.
Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/physical-therapy-software-market-report
Physical Therapy Software Market Report Highlights
- Mobile & Tablet segment was the largest revenue-generating segment of the Physical Therapy Software market in 2023. These devices are quickly outpacing the usage of desktops and laptops. Besides, the usage of tablets and mobiles is on the rise in hospitals and clinics as well
- Cloud-Based segment is estimated to account for the largest market share and witnessed lucrative growth due to the growing adoption and rising popularity of the cloud-based healthcare services
- On the end-use, hospitals segment held the largest market share during the forecast period. Hospitals are the prime point-of-care for all kinds of health problems, owing to which the segment is anticipated to hold the largest share in the global market
- North America accounted for the major revenue share in 2023 owing to greater awareness levels and improved healthcare infrastructure are one of the largest industrial verticals in the U.S. This further propels the market growth of this region
- The market is highly competitive in nature as major players are focusing on the product innovation, new product developments, distribution agreements, and expansion strategies to improve their market penetration
- In January 2022, WebPT acquired Clinicient and its subsidiary Keet. The acquisition offers further scale and industry expertise to WebPT. Such factors are likely to maintain the intensity of rivalry in the market at a high level.
Physical Therapy Software Market Segmentation
Grand View Research has segmented the global physical therapy software market based on interface, deployment, end-use, and region:
Physical Therapy Software Interface Outlook (Revenue, USD Million, 2018 – 2030)
- Desktop & Laptop
- Mobile & Tablet
Physical Therapy Software Deployment Outlook (Revenue, USD Million, 2018 – 2030)
- Cloud-based
- Server-based
Physical Therapy Software End-use Outlook (Revenue, USD Million, 2018 – 2030)
- Hospitals
- Clinics
- Others
Physical Therapy Software Regional Outlook (Revenue, USD Million, 2018 – 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Thailand
- Latin America
- Brazil
- Argentina
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- Kuwait
- UAE
List of Key Players in the Physical Therapy Software Market
- Practice Fusion, Inc.
- WebPT
- Systems 4PT
- Axxess
- DrChrono Inc. (EverHealth Solutions Inc.)
- Power Diary Pty Ltd.
- BioEx Systems, Inc.
- Meditab
- OptimisCorp
- MICA Information Systems, Inc.
- Oracle
- Kareo, Inc.
- NXGN Management, LLC
Browse Full Report: https://www.grandviewresearch.com/industry-analysis/physical-therapy-software-market-report