February 25, 2024

The Global Physical Therapy Rehabilitation Solutions Market Is Driven By Rising Geriatric Population

Physical therapy rehabilitation solutions help patients regain skills that have been lost due to injury, illness or other disabling condition such as arthritis, stroke, joint replacement surgeries etc. Physiotherapists design special rehabilitation programs using devices and equipment to treat balance and mobility issues, provide pain relief, improve muscle strength and flexibility. Some common physical therapy devices used include continuous passive motion devices, traction therapy equipment, ultrasound therapy, electrical stimulation devices and therapeutic exercises equipment. The global Physical Therapy Rehabilitation Solutions Market provides cost-effective recovery solutions for orthopedic injuries and musculoskeletal conditions.

The global Physical Therapy Rehabilitation Solutions Market is estimated to be valued at Us$ 33.25 Mn in 2024 and is expected to exhibit a CAGR Of 4.3% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The physical therapy rehabilitation solutions market is witnessing increasing adoption of telehealth solutions. During the COVID-19 pandemic, there was surge in demand for virtual physical therapy sessions. Companies offering remote patient monitoring equipment, wearable sensors and virtual reality based rehabilitation platforms experienced significant growth. Another key trend gaining traction is increased focus on evidence-based practices in physical therapy. Market players are investing in clinical research to establish efficacy of various rehabilitation protocols and devices. This is helping generate more insurance coverage and reimbursements for new physical therapy modalities.

Porter’s Analysis

Threat of new entrants: Low. High costs associated with R&D for new solutions and strong brand loyalty towards existing players pose entry barriers.

Bargaining power of buyers: Moderate. Though physical therapy rehabilitation solutions have many uses, buyers have several options to choose from.

Bargaining power of suppliers: Moderate. Key raw materials used have few substitutes but suppliers still do not have significant control over pricing due to presence of other suppliers.

Threat of new substitutes: Low. While some virtual substitutes exist, there are no close alternatives that can fully replace physical therapy rehabilitation solutions.

Competitive rivalry: High. Major brands compete fiercely on the basis of product quality, price and innovation.

Key Takeaways

The Global Physical Therapy Rehabilitation Solutions Market Demand   is expected to witness high growth over the forecast period of 2024 to 2031. The global Physical Therapy Rehabilitation Solutions Market is estimated to be valued at US$ 33.25 Mn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 to 2031.

Regional analysis:

 

North America is expected to retain its dominance in the market during the forecast period. Favorable reimbursement policies for physical therapy and increasing healthcare expenditure are driving the North American market. Asia Pacific is anticipated to witness the highest growth rate owing to rising medical tourism and improving healthcare infrastructure.

Key players:

 

Key players operating in the Physical Therapy Rehabilitation Solutions Market are CoorsTek, Inc., Kyocera Corporation, Morgan Advanced Materials, CeramTec, BONESUPPORT, COLLAGEN MATRIX, BERKELEY ADVANCED BIOMATERIALS INC. These players are focusing on new product launches and strategic collaborations to strengthen their market position.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it