US Physiotherapy Market Analysis Report [2022-30] I Insights10

US Physiotherapy Market Analysis

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The US physiotherapy market size was valued at $22.34Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 3.85% from 2022 to 2030 and will reach $30.22Bn in 2030. The physiotherapy market in US is expected to see steady growth in the coming years, as an aging population, an increase in chronic diseases, greater focus on preventative care and rehabilitation after surgeries. The market is segmented by Product Type, Application Type, and End User. The major players in the US physiotherapy market are BTL Industries, EMS Physio Ltd., DJO Global, Inc., Dynatronics Corporation, Inc., Performance Health, and others.

ID: IN10USHS016 CATEGORY: Healthcare Services GEOGRAPHY: US

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US Physiotherapy Market Executive Summary

The US physiotherapy market size was valued at $22.34 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 3.85% from 2022 to 2030 and will reach $30.22 Bn in 2030. The US has one of the world's highest healthcare expenditures per capita. According to data from the World Bank, the US spent an estimated $9,892 per capita on healthcare in 2019, which is significantly higher than the average expenditure of other developed countries.The total healthcare expenditure in the US was around 3.6 trillion US dollars in 2020, which accounted for 17.7% of the GDP. The expenditure is mainly financed by a combination of private and public sources, with a significant portion of the costs being borne by individuals through out-of-pocket expenses and private health insurance.

Physical therapy is an essential part of the healthcare system in the US, with a growing need for these services due to an aging population, an increase in chronic diseases, and a greater focus on preventative care.An aging population in the US is leading to an increase in the number of people with chronic conditions such as arthritis, osteoporosis, and other age-related conditions that require physical therapy. Additionally, there is a growing number of people with chronic conditions such as obesity, diabetes, and heart disease, which also require physical therapy to manage symptoms and improve overall health.

Physical therapy is also used to prevent and manage injuries, particularly in athletes and active individuals. With an increase in participation in sports and physical activity, there is a growing need for physical therapy services to help prevent and manage injuries.The high healthcare expenditure in the US is attributed to several factors, including an aging population, high costs of drugs and medical equipment, and a fee-for-service reimbursement system that incentivizes overuse of healthcare services. Despite the high expenditure, the US healthcare system still faces challenges such as high rates of chronic diseases, lack of access to healthcare for certain populations, and poor health outcomes compared to other developed countries.The report also states that the market is highly fragmented, with a large number of small and medium-sized companies operating in the industry. The most common settings for physical therapy in the US include hospitals, rehabilitation centers, nursing homes, and private practices.

US Physiotherapy Market Analysis

Market Dynamics

Market Growth Drivers

By 2060, nearly one in four Americans will be 65 years and older, the number of 85-plus will triple, and the country will add a half million centenarians.The aging population in the US is leading to an increase in the number of people with chronic conditions such as arthritis, osteoporosis, and other age-related conditions that require physical therapy.

Nearly 60% of adult Americans have at least one chronic disease. Chronic conditions like diabetes, cancer, and cardiovascular disease are the leading causes of death in the US. The prevalence of chronic diseases is increasing in the US, and these conditions require physical therapy to manage symptoms and improve overall health.

Moreover, there is a growing emphasis on preventative care in the US healthcare system, which is increasing the demand for physical therapy services.Physical therapy is widely used in the rehabilitation of patients who have undergone surgeries and other medical procedures, which is driving the growth of the physical therapy market. Furthermore, Advancements in technology are enabling physical therapists to provide more effective and efficient services, which is leading to increased demand for physical therapy services.

Market Restraints

Despite the growth in the physical therapy market in the United States, there are several factors that may act as restraints on the market's growth. Some of the major restraints on the US physical therapy market includeLimited reimbursement, the reimbursement for physical therapy services is limited in the US, which makes it difficult for many patients to access these services. Moreover, The cost of physical therapy services and equipment can be high, which can be a barrier for some patients. Furthermore, Certain populations, particularly those in rural areas, may have limited access to physical therapy services due to a shortage of providers in these areas.

Competitive Landscape

Key Players

BTL Industries
Kinetec
Thera-Band
Mettler Electronics
Chattanooga Group
EMS Physio Ltd.
Isokinetics, Inc.
Algeo Limited
DJO Global, Inc.
Dynatronics Corporation, Inc.
Medline Industries
Performance Health
Halyard Health
Patterson Medical

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario of US Physiotherapy Market

In the United States, the regulation of physiotherapy equipment is primarily handled by theFood and Drug Administration (FDA) and the Federal Trade Commission (FTC).The FDA is responsible for ensuring the safety and effectiveness of medical devices, including physiotherapy equipment. Medical devices are classified into different classes based on the level of risk they pose to patients, and the regulations for each class vary. For example, Class I devices, which pose the lowest risk, are subject to the least amount of regulation, while Class III devices, which pose the highest risk, are subject to the most stringent regulations.The FTC is responsible for ensuring that the advertising and labeling of physiotherapy equipment is truthful and not misleading. The FTC also has the authority to take action against companies that make false or misleading claims about their products.Additionally, many states in the US have their own regulations and laws related to the practice of physical therapy, which may also affect the regulation of physiotherapy equipment.

The reimbursement scenario for physiotherapy treatment in the United States can vary depending on the payer and the specific treatment being provided.

Medicare: Medicare, the federal health insurance program for people who are 65 or older, covers some physical therapy services, but there are limits on the number of visits and the amount that can be covered.

Medicaid: Medicaid, the joint federal-state program that provides health coverage to low-income individuals and families, covers physical therapy services, but the coverage and reimbursement rates can vary by state.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Physiotherapy Market Segmentation

By Product: (Revenue, USD Billion):

Based on product, the physiotherapy equipment market is divided into two major segments, namely, equipment and accessories. The equipment segment accounted for the largest share of the physiotherapy equipment market in 2021. The equipment segment is further segmented into electrotherapy equipment, ultrasound equipment, exercise therapy equipment, heat therapy equipment, cryotherapy equipment, combination therapy equipment, continuous passive motion therapy equipment, shockwave therapy equipment, laser therapy equipment, magnetic pressure therapy equipment, traction therapy, and other physiotherapy equipment (hydrotherapy and vacuum therapy). Owing to the increasing use of electrotherapy equipment in the treatment of musculoskeletal disorders and owing to increasing concerns for patients’ safety and minimal/no side-effects during the physiotherapy treatments.

Equipment

Electrotherapy equipment
Ultrasound equipment
Exercise therapy equipment
Heat therapy equipment
Cryotherapy equipment
Combination therapy equipment
Continous passive motion therapy equipment
Shockwave therapy equipment
Laser therapy equipment
Magnetic pressure therapy equipment
Traction therapy
Other physiotherapy equipment

Accessories
Manual Therapy
Specialized treatment
Joint Mobilization Techniques
Suspension Therapy

By Application (Revenue, USD Billion):

Based on application, the physiotherapy equipment market is segmented into musculoskeletal applications, neurological applications, cardiovascular and pulmonary applications, pediatric applications, gynecological applications, and other applications (including sports and palliative care). The musculoskeletal applications segment holds a dominating share attributed to the increasing adoption of physiotherapies to accelerate recovery of accidental injuries, rising incidence of musculoskeletal disorders, and growth in the geriatric population.

By Applications

Musculoskeletal applications
Neurological applications
Cardiovascular and pulmonary applications
Pediatric applications
Gynecological applications
Other applications

By End-user (Revenue, USD Billion):

Based on end users, the physiotherapy equipment market is segmented into physiotherapy & rehabilitation centers, hospitals, home care settings, physician offices, and other end users (community health centers and elderly care facilities). In 2021, the physiotherapy & rehabilitation centers segment accounted for the largest share of the physiotherapy equipment market due to increasing demand for advanced physiotherapy equipment and their wide usage across the care continuum across these centers.

Physiotherapy & Rehabilitation centers
Hospitals
Home care settings
Physician offices

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.