Physical Therapy Services Market size was over USD 129.74 billion in 2024 and is poised to exceed USD 247.69 billion by 2037, witnessing over 5.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of physical therapy services is evaluated at USD 135.03 billion.
The market growth is attributed to the rising cases of chronic diseases and an increasing number of sports injuries which have increased the demand for physical therapy services. According to a recent report, almost half of the U.S. population, or 133 million Americans are living with at least one chronic condition and 40% of adults suffer from two or more.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
5.1% |
Base Year Market Size (2024) |
USD 129.74 billion |
Forecast Year Market Size (2037) |
USD 247.69 billion |
Regional Scope |
|
By Type (Pediatrics, Adults, Elderly)
Pediatrics segment is estimated to dominate over 55% physical therapy services market share by 2037. The segment growth can be attributed to its various benefits which improve the overall health of pediatric patients such as infants and children. Pediatric physical therapy helps in developing the patient’s motor skills to activate muscles, increase flexibility, and strengthen the movements that lead to stimulating segment growth. According to a recent report, in 2022, the number of total pediatric patients reported in India was the highest in UP with over 32,200 cases.
By Application (Orthopedic, Geriatric, Neurological, Cardiopulmonary and Pulmonary)
By 2037, orthopedic segment is poised to dominate over 51% physical therapy services market share. The segment growth can be attributed to the increasing cases of orthopedic conditions and age-related diseases. Orthopedic physical therapy focuses on addressing musculoskeletal issues by incorporating physical exercises that help in pain management and improve flexibility.
Moreover, due to the growing aging population, the demand for orthopedic physical therapy services is anticipated to grow which may boost the segment growth.
Our in-depth analysis of the market includes the following segments:
Type |
|
Application |
|
North America Market Statistics
North America industry is anticipated to dominate majority revenue share of 46% by 2037. The market growth in the region is also expected on account of the presence of well-established healthcare infrastructure and rising research initiatives.
The rising cases of sports-related injuries due to the high popularity of sports events have increased the demand for physical therapy services in the US. The role of physical therapy is crucial in addressing sports related injuries as it reduces the pain and improves muscle flexibility.
In Canada, there are various companies available that offer physical therapy services at affordable prices to expand their network and accessibility that expand the market size of physical therapy services. According to a source, in 2022, 19,798 physiotherapists were employed in direct patient care in Canada.
APAC Market Analysis
The Asia Pacific region will also encounter huge growth for the physical therapy services market during the forecast period and will hold the second position owing to the large number of population and increasing number of diseases.
The presence of large number of physical therapy services in India which easily meet the increasing need for physical therapy at affordable prices. According to a source, there are a total of 15368 physiotherapists in India as of April 2024.
In China, the rising middle-class income has increased the demand for quality healthcare services. According to a recent report, as of January 2022, the largest share of Chinese middle-class families has an annual income of between 100 thousand and 300 thousand Yuan per year. Furthermore, growing awareness about well-being and healthy lifestyles has contributed to the market growth of physical therapy services in the China.
The market of physical therapy services consists of various key players. Some of the companies dominating the market are ATI Holdings, Athletico Physical Therapy, and Pro-Health Limited among others.
Author Credits: Radhika Pawar
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