Occupational Therapy Market Insights, Size, Forecast, Growth, Trends 2024-2033

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.

Market Overview -

Occupational therapy (OT) refers to a healthcare provider focusing on helping individuals of all ages participate in the meaningful activities and daily routines they want and need to do. Occupational therapists work with people who may have physical, cognitive, sensory, or emotional challenges that affect their ability to engage in everyday activities.

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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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