Physical Therapy Services Market Trends

Growth Drivers

• Growing preference towards physical therapy services for pain management - The growing side effects of traditional medication therapies have increased the demand for physical therapy services. Several side effects of medication therapies include overdose- related deaths due to opioids and misuse of prescriptions. Moreover, increasing awareness about the benefits of physical therapy for pain management solutions has popularized the therapy services among people. According to a source, over 50 million Americans seek physical therapy services each year. Additionally, the aging population which is mostly suffering from chronic diseases needs physical therapy services that further boost its market growth.
• Increasing awareness about preventive care and wellness -Due to the changing lifestyles and eating habits, cardiovascular diseases, obesity, and diabetes are rising which have increased the need for preventive care and wellness. According to WHO, about 16% of adults aged 18 years and older worldwide were obese in 2022. Furthermore, people are becoming aware of healthy lifestyles and adopting physical therapies and lifestyle counseling. The prevention of diseases is only possible through implementing preventive care physical therapies and this is predicted to increase the market size of physical therapy services.
• Adoption of advanced technology in physical therapy - The growing adoption of advanced technologies and innovations in physical therapies improve the patient’s experience and offer better treatment. The use of advanced technologies in physical therapy services includes the inclusion of virtual reality (VR), and Artificial Intelligence (AI).
  
  Moreover, the use of AI is to measure and analyze patient data and offer personalized treatment recommendations. Additionally, wearable technology has various benefits in physical therapy such as it offers real-time data on patient’s movements and monitoring their health by creating exercise plans. Technology has a crucial role in revolutionizing physical therapy which further boosts the market growth of physical therapy services.

Challenges

• Emerging competition from alternative providers - The growing availability of various healthcare providers which include massage therapists and chiropractors poses a challenge to market growth. Patients may opt for the services of alternative therapy solutions which will limit the adoption of physical therapy services.
• Lack of qualified therapists - The shortage of qualified and skilled physical therapists limits the sustainability of physical therapy practices. The shortage of staff may affect the patient’s overall experience with physical therapy services which further hamper its market growth.