July 21, 2024
U.S. Physical Therapy Virtual and Telerehabilitation Services Market

The global U.S. Physical Therapy Virtual and Telerehabilitation Services Market Growth accelerated by demand for accessibility and affordable healthcare solutions

The U.S. physical therapy virtual and telerehabilitation services market has gained significant momentum in recent years. Physical therapy virtual and telerehabilitation allow patients to access physical and rehabilitation therapy services remotely through digital platforms and applications. It offers patients accessibility to physical therapy care without having to physically visit clinics, which is particularly beneficial for patients living in remote areas or facing mobility issues. The remote and virtual nature of these services also makes physical therapy affordable for many as it reduces travel costs.

The global U.S. Physical Therapy Virtual and Telerehabilitation Services Market is estimated to be valued at US$ 181.9 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growing demand for accessible and affordable healthcare solutions has been a key driver accelerating the adoption of physical therapy virtual and telerehabilitation services in the U.S. The ongoing COVID-19 pandemic has further highlighted the necessity of remote healthcare services and virtual platforms for physical rehabilitation. During lockdowns and social distancing periods, virtual and telerehabilitation allowed continuity of care for physical therapy patients while avoiding exposure risks. This boosted short term demand and uptake of these services. The positive experiences of users and payers with telehealth during the pandemic is also expected to drive long term structural increase in demand going forward.

Segment Analysis
The U.S. Physical Therapy Virtual and Telerehabilitation Services Market is dominated by home care services segment which accounts for around 60% share of the overall market. This is because, home care services allow patients to receive physical therapy in the comfort of their homes via virtual medium thus providing more flexibility and convenience. With growing preference for receiving non-emergency medical care from the comfort of home, the home care services segment is expected to continue dominating the market during the forecast period.

Key Takeaways
The UGlobal U.S. Physical Therapy Virtual And Telerehabilitation Services Market is expected to witness high growth over the forecast period of 2023 to 2030. The global U.S. Physical Therapy Virtual and Telerehabilitation Services Market is estimated to be valued at US$ 181.9 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.

Regional analysis
The Western region dominates the U.S. Physical Therapy Virtual and Telerehabilitation Services Market with over 35% share due to the higher penetration of digital technologies and presence of major players in states like California. However, the Midwestern region is expected to grow at the fastest pace during the forecast period owing to increasing investments by both public and private players to expand access to virtual care in rural areas.

Key players
Key players operating in the U.S. Physical Therapy Virtual and Telerehabilitation Services Market are Chevron Phillips Chemical Company, BASF SE, Evonik Industries AG, Arkema Group, Solvay SA, Taizhou Sunny Chemical Co., Ltd., Arkema Group, Prasol Chemicals Pvt. Ltd., TCI Chemicals (Tokyo Chemical Industry Co., Ltd.), Apollo Scientific Ltd., Sasol Ltd., Merck KGaA, Lanxess AG, Zhejiang Weihua Chemical Co., Ltd., Tokyo Chemical Industry UK Ltd. The major players are focusing on adopting advanced technologies and collaborate with healthcare facilities to strengthen their presence in the market.
Note:
Source: Coherent Market Insights, Public sources, Desk research
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