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Physical Therapy Services Market Set to Expand from US$70.7 Bn in 2024 to US$102.2 Bn by 2031, Reports Persistence Market Research

05-16-2025 07:56 AM CET | Health & Medicine

Press release from: Persistence Market Research

Physical Therapy Services Market

Physical Therapy Services Market

The global physical therapy services market is projected to grow significantly, expanding from US$70.7 Bn in 2024 to US$102.2 Bn by 2031, registering a Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period. Driven by the convergence of aging demographics, an increase in chronic diseases, and a surge in telehealth adoption, the sector is undergoing a transformative evolution.

There is a greater focus on providing high-quality, reasonably priced physical therapy as healthcare providers move toward value-based care models and bundled payment schemes. Furthermore, patient access to care in North America is changing due to the growing demand for telehealth services and technological developments like tele-rehabilitation platforms.

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Market Overview and Introduction

Physical therapy services encompass a broad array of interventions aimed at promoting mobility, alleviating pain, and enhancing functional capacity in individuals recovering from injuries, surgeries, or chronic conditions. Delivered by licensed physical therapists, these services incorporate manual therapy, exercise prescriptions, and modalities such as electrical stimulation and ultrasound.

Traditionally confined to clinics and hospitals, physical therapy is now expanding into homes and remote environments due to tele-rehabilitation technologies. The shift aligns with global healthcare trends emphasizing value-based care, early intervention, and patient-centered treatment.

Historical Performance and Future Outlook

Between 2019 and 2023, the market grew at a CAGR of 4.9%, largely attributed to rising awareness of rehabilitation's role in post-surgical recovery and chronic disease management. Going forward, the market is set to outpace its historical performance with a projected CAGR of 5.4% from 2024 to 2031, underpinned by:

➤ Aging population increasingly affected by mobility impairments and chronic illnesses
➤ Rising incidences of lifestyle-related conditions such as obesity and diabetes
➤ Surge in demand for sports rehabilitation and orthopedic therapies
➤ Greater availability and acceptance of telehealth platforms

Key Market Drivers

➤ Aging Population
The global demographic shift toward an older population is a central growth driver. Older adults face a higher prevalence of conditions such as arthritis, osteoporosis, and post-stroke mobility limitations-all requiring sustained physical therapy.

➤ Rising Chronic Disease Burden
Conditions like cardiovascular disorders, diabetes, and obesity are on the rise due to sedentary lifestyles. Physical therapy is a core intervention for managing these conditions and improving long-term health outcomes.

➤ Expansion of Telehealth and Digital Tools
Technology adoption in healthcare is fueling accessibility. Wearable devices and tele-rehabilitation platforms enable remote monitoring, real-time feedback, and personalized care-streamlining therapy delivery and broadening market reach.

Market Constraints

➤ Reimbursement Limitations
Many patients depend on insurance or government programs to afford therapy. Capped reimbursements and inconsistent coverage can deter patients from receiving sufficient sessions, thereby constraining service utilization and market expansion.

➤ Professional Workforce Shortage
The market faces a shortfall in licensed physical therapists, especially in rural and underserved regions. This scarcity can lead to patient backlogs, increased workload for therapists, and reduced quality of care-hindering overall growth potential.

Service and Application Segment Analysis

Orthopedic Physical Therapy (Service Segment)

Market Share (2024): 20.2%

Orthopedic therapy leads the services category, reflecting the high incidence of musculoskeletal conditions and post-operative rehabilitation needs. It covers a spectrum of issues from joint replacements to sports-related injuries.

Sports Rehabilitation (Application Segment)

Market Share (2024): 17.76%

Rising participation in athletic and recreational activities has led to increased injuries, driving demand for sports rehabilitation services. These services are tailored to restore function, prevent re-injury, and optimize performance.

Regional Market Insights

North America: Dominant Regional Contributor

Market Share (2024): 30.54%

The region maintains leadership due to favorable reimbursement structures, advanced healthcare infrastructure, and technological integration. The U.S. contributes 94.46% of the regional revenue.

➤ The proliferation of wearable sensors enables remote monitoring and feedback loops, enhancing patient compliance and therapeutic outcomes.

➤ The transition to value-based care models and bundled payments ensures cost-efficiency and aligns provider incentives with patient recovery.

Europe: A Hub for Interdisciplinary and Preventive Care

Europe is emerging as a key market, bolstered by a holistic and interdisciplinary healthcare approach. Collaboration between physical therapists and allied health professionals (e.g., occupational and speech therapists) is increasingly common.

➤ The UK physical therapy market captured a 21.8% share in Europe in 2021, showing significant maturity and opportunity for growth.

➤ Initiatives like the Veterans Affairs AI platform collaboration with JumpStart highlight the continent's shift toward AI-driven rehabilitation models.

Industry Developments and Competitive Landscape

Recent years have seen intensified competition and innovation among providers, focusing on patient outcomes and service diversification.

Notable Developments:

March 2024: The EU and UNDP launched the School of the Physical Therapist of the Future to address talent shortages in Ukraine and expand rehabilitation services.

February 2024: SportsMed Physical Therapy introduced SportsMed HomeCare, an in-home therapy program integrating outpatient services, filling the post-hospital care gap.

Key Market Players:

Select Medical Corporation

Encompass Health Corporation

Kindred Healthcare LLC

ATI Physical Therapy

CORA Physical Therapy

FYZICAL Therapy & Balance Centers

Pivot Physical Therapy

Athletico Physical Therapy

HealthSouth Corporation

NovaCare Rehabilitation

These players are executing strategies like geographic expansion, investment in AI tools, and telehealth rollouts to stay competitive in a dynamic market.

Emerging Trends and Growth Opportunities

Telehealth and Remote Delivery Models

The adoption of telehealth not only reduces geographic barriers but also ensures continuity of care for homebound or rural patients. These models enhance convenience, reduce costs, and improve compliance, leading to higher patient retention.

Integration of AI and Wearable Technology

AI enables real-time data analysis from wearables, allowing therapists to monitor adherence, customize protocols, and improve recovery timelines. These tools also support predictive modeling, helping clinicians forecast patient outcomes and adjust interventions accordingly.

➤ Real-time feedback from wearables enhances patient engagement, reduces dropouts, and aligns care with evidence-based best practices.

Regulatory and Policy Trends

Governments and regulators globally are encouraging the integration of digital health platforms with physical therapy services to ensure accessibility.

In countries like the U.S. and U.K., bundled payments and accountable care frameworks are incentivizing cost-effective outcomes in rehabilitation.

Licensure portability and telehealth parity laws are expanding cross-state and cross-border care options, especially in North America and Europe.

Strategic Recommendations for Stakeholders

Invest in digital transformation: Providers and investors should allocate capital to AI-integrated therapy tools and tele-rehabilitation platforms to improve scale and outcomes.

Expand workforce capacity: Address the labor shortage by collaborating with academic institutions and government-backed training programs.

Adopt hybrid care models: Combine in-person and virtual sessions to improve flexibility and patient engagement, particularly in underserved regions.

Leverage public-private partnerships: Engage with health ministries, NGOs, and community organizations to increase therapy access in emerging markets.

Conclusion

The physical therapy services market is on a sustainable growth trajectory, supported by aging demographics, chronic disease management needs, and the digital transformation of care delivery. Despite workforce shortages and reimbursement caps, opportunities in telehealth, AI, and preventive care create a promising outlook.

Contact Us:

Persistence Market Research
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Email: sales@persistencemarketresearch.com
Web: https://www.persistencemarketresearch.com

About Persistence Market Research:

At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.

Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.

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