Occupational Therapy Market Report 2024: Strategies And Recent Developments | Abbott Laboratories, STERIS Corporation, Getinge AB, Johns Hopkins Medicine International LLC, Premise Health Holding Corp

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The Business Research Company offers in-depth market insights through Occupational Therapy Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The occupational therapy market size has grown strongly in recent years. It will grow from $4.94 billion in 2023 to $5.26 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to aging population, prevalence of chronic conditions, increasing awareness of mental health, occupational health and safety regulations, expanding scope of occupational therapy practice.

The occupational therapy market size is expected to see strong growth in the next few years. It will grow to $6.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to integration of telehealth services, rising incidence of developmental disorders, personalized and client-centered approaches, focus on mental health in the workplace, research and evidence-based practices. Major trends in the forecast period include collaboration with other healthcare professions, advancements in rehabilitation technologies, population aging and geriatric care, pediatric occupational therapy, workplace ergonomics and wellness programs.

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Market Segmentation:
The main products of occupational therapy include cloud-based and on-premises. Cloud-based refers to a computing model where resources, such as servers, storage, databases, networking, software, and analytics, are delivered over the Internet. It is used to treat various diseases, including mental disorders and physical disorders, and is used for several applications, such as psychological disorders, hospital, and other applications.

Major Driver - The Growing Incidence Of Mental Disorders
The growing incidence of mental disorders is expected to propel the growth of the occupational therapy market going forward. Mental disorders, also known as psychiatric disorders or mental illnesses, are medical conditions that affect a person's thoughts, emotions, behavior, and overall mental well-being. Occupational therapy is beneficial for the treatment and management of mental disorders as it focuses on helping individuals with mental health challenges develop the necessary skills and strategies to lead meaningful and fulfilling lives. For instance, in March 2023, according to a report published by the National Center for Biotechnology Information, a US-based government organization, there were an estimated 14.1 million adults aged 18 or older in the United States with serious mental illness (SMI. Furthermore, in November 2022, according to the National Health Service, a UK-based publicly funded healthcare system, the proportion of people with a probable mental disorder, between 17 to 19 years old, has increased from 17.4% in 2021 to 25.7% in 2022. Therefore, the growing incidence of mental disorders is driving the growth of the occupational therapy market.

Competitive Landscape:
Major companies operating in the occupational therapy market report are Abbott Laboratories, STERIS Corporation, Getinge AB, Johns Hopkins Medicine International LLC, Premise Health Holding Corp., Cantel Medical Corporation, Midmark Corporation, Ergotron Inc., Performance Health Holdings Inc., Accord Medical Products Pvt. Ltd., A-Dec Inc., Drive DeVilbiss Healthcare, WebPT Inc., Net Health Systems Inc., Clinicient Inc., Dynasplint Systems Inc., AliMed, Optima Health Care Inc., Maddak Inc., Bio Med International Pvt. Ltd., Alliance Therapy Services, Rifton Equipment, BioSensics, ClinicSource, Divine Physiotherapy Equipments

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Top Trend - Increasing Focus On Technological Advancement To Drive The Revenues
Major companies operating in the occupational therapy market are developing technologies, such as AI-powered physical rehabilitation solutions, to gain a competitive edge in the market. An AI-powered physical rehabilitation solution is a technological innovation that leverages artificial intelligence to enhance and transform the field of physical therapy and rehabilitation. For instance, in February 2021, Fujitsu Limited, a Japan-based information and communications technology company, launched HOPE ROMREC, an AI-driven physical rehabilitation solution that uses rehabilitation videos to automatically measure and visualize a patient's shoulder and elbow angles. It employs a Fujitsu image analysis AI engine that comprises numerous picture recognition models. This technique has the potential to dramatically increase the efficiency of visually measuring joint curvature with a goniometer, a process normally performed by physical and occupational therapists. It assists medical personnel in diagnosing patient conditions and evaluating the efficacy of therapies.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Occupational Therapy Market Characteristics
3. Occupational Therapy Market Trends And Strategies
4. Occupational Therapy Market - Macro Economic Scenario
5. Occupational Therapy Market Size And Growth
…..
27. Occupational Therapy Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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