U.S. Physical Therapy Services Market Size, Share & Trends Analysis Report By Settings (Hospitals, Outpatient Clinics), By Application (Orthopedic, Women Health), By Payer (Public, Private Insurance), And Segment Forecasts, 2023 - 2030

PUBLISHED: January 5, 2023

PAGES: 100 Pages

DELIVERY TIME: 2-10 business days

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The U.S. physical therapy services market size is estimated to reach USD 58.6 billion by 2030, exhibiting a CAGR of 3.56% from 2023 to 2030 according to a new report by Grand View Research, Inc. Physical therapy (PT) can help in reducing overall treatment costs and improving outcomes. This, coupled with the rising prevalence of pain and musculoskeletal diseases, is driving market growth. According to the U.S. Bureau of Labor Statistics, employment of PTs is expected to increase by 17% from 2021 to 2031. In addition, approximately 15,400 yearly average openings for physical therapists are projected over the next ten years. Providers and purchasers of traditional healthcare services, such as insurance companies, health maintenance organizations, businesses, and industries, are constantly seeking cost savings.

PT services are a cost-effective method for preventing short-term disabilities from becoming chronic conditions, avoiding invasive procedures, accelerating recovery, and eliminating or reducing the need for opioids. The patient who takes PT can save an average of USD 2,736 on treatment costs. In the United States, approximately 19.7% of children & adolescents aged 2 to 19 years are obese. This represents over 14.7 million children & adolescents. The prevalence of obesity among adults was 41.9% during 2017-2020. Furthermore, the annual medical cost of obesity was estimated to be around USD 173 billion in 2019. PT services help obese individuals become more active and fit with the help of pain-free movement techniques.

The COVID-19 pandemic has negatively impacted market growth. In April and May 2020, according to national surveys conducted by the American Physical Therapy Association (APTA), 54% of physical therapists reported a decrease in work hours since the start of the pandemic. Nearly 36% reported a decrease in hours in July 2020, while 7% reported being laid off, 16% furloughed, and 2% resigned or quit. Nearly 98% of therapists did not offer telehealth consultations to patients before the COVID-19 outbreak. However, by July 2020, 47% reported using telehealth, a percentage that is likely to increase in the future. Due to the COVID-19 emergency, policy modifications have facilitated telehealth utilization in PT services.

U.S. Physical Therapy Services :

Based on application, the orthopedic therapy segment dominated the industry in 2022 owing to the increased cases of orthopedic-related disorders

The geriatric therapy application segment is anticipated to register the fastest growth rate during the forecast period owing to the high number of patients suffering from chronic diseases and the inclusion of PT services in long-term care facilities

In terms of the payer, the private insurance segment held the maximum revenue share due to the presence of corporate insurance and a large number of people taking commercial insurance

The outpatient clinics settings segment accounted for the largest revenue share in 2022 on account of the shift towards outpatient settings and the increased number of standalone physical therapists

Product Code: GVR-4-68040-022-3

Chapter 1 Report Scope and Objectives

1.1 Market Segmentation
1.2 Regional Scope
1.3 Estimates and Forecast Timeline
1.4 Research Objectives
- 1.4.1 Objective - 1
- 1.4.2 Objective - 2
- 1.4.3 Objective - 3

Chapter 2 Methodology

2.1 Research Methodology
2.2 Information Procurement
- 2.2.1 Purchased Database
- 2.2.2 GVR's Internal Database
- 2.2.3 Secondary Sources
- 2.2.4 Primary Research
- 2.2.5 Details of Primary Research
2.3 Information or Data Analysis
- 2.3.1 Data Analysis Models
2.4 Market Formulation & Validation
2.5 Model Details
- 2.5.1 Volume Price Analysis
2.6 List of Secondary Sources
2.7 List of Abbreviations

Chapter 3 Executive Summary

3.1 Market Outlook
3.2 Segment Outlook
- 3.2.1 Application
- 3.2.2 Payer
- 3.2.3 Settings
3.3 Competitive Insights

Chapter 4 Market Variables, Trends & Scope

4.1 Market Lineage outlook
- 4.1.1 Parent market outlook
4.2 Market Dynamics
- 4.2.1 Market driver analysis
- 4.2.2 Market restraint analysis
4.3 Penetration & Growth Prospect Mapping
4.4 Business Environment Analysis Tools
- 4.4.1 Porter's five forces analysis
  - 4.4.1.1 Competitive rivalry
  - 4.4.1.2 Threat of new entrants
  - 4.4.1.3 Bargaining power of buyers
  - 4.4.1.4 Bargaining power of suppliers
  - 4.4.1.5 Threat of substitutes
- 4.4.2 PESTEL Analysis
  - 4.4.2.1 Political landscape
  - 4.4.2.2 Economic and social landscape
  - 4.4.2.3 Technological landscape
4.5 Impact of COVID-19: Qualitative Analysis

Chapter 5 U.S. Physical Therapy Services Market: Application Analysis

5.1 U.S. Physical Therapy Services Application Market Share Analysis, 2022 & 2030
5.2 U.S. Physical Therapy Services Application: Segment Dashboard
5.3 Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the Application Segment
- 5.3.1 Orthopedic Therapy
  - 5.3.1.1 Orthopedic therapy market, 2018 - 2030 (USD Million)
- 5.3.2 Geriatric Therapy
  - 5.3.2.1 Geriatric therapy market, 2018 - 2030 (USD Million)
- 5.3.3 Cardiopulmonary Therapy
  - 5.3.3.1 Cardiopulmonary therapy market, 2018 - 2030 (USD Million)
- 5.3.4 Pediatric Therapy
  - 5.3.4.1 Pediatric therapy market, 2018 - 2030 (USD Million)
- 5.3.5 Neurological Therapy
  - 5.3.5.1 Neurological therapy market, 2018 - 2030 (USD Million)
- 5.3.6 Women's Health
  - 5.3.6.1 Women's health market, 2018 - 2030 (USD Million)
- 5.3.7 Others
  - 5.3.7.1 Others market, 2018 - 2030 (USD Million)

Chapter 6 U.S. Physical Therapy Services Market: Payer Analysis

6.1 U.S. Physical Therapy Services Payer Market Share Analysis, 2022 & 2030
6.2 U.S. Physical Therapy Services Payer: Segment Dashboard
6.3 Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the Payer Segment
- 6.3.1 Public Insurance
  - 6.3.1.1 Public insurance market, 2018 - 2030 (USD Million)
- 6.3.2 Private Insurance
  - 6.3.2.1 Public insurance market, 2018 - 2030 (USD Million)
- 6.3.3 Out of Pocket
  - 6.3.3.1 Out of pocket market, 2018 - 2030 (USD Million)

Chapter 7 U.S. Physical Therapy Services Market: Settings Analysis

7.1 U.S. Physical Therapy Services Settings Market Share Analysis, 2022 & 2030
7.2 U.S. Physical Therapy Services Settings: Segment Dashboard
7.3 Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the Settings Segment
- 7.3.1 Hospitals
  - 7.3.1.1 Hospitals market, 2018 - 2030 (USD Million)
- 7.3.2 Outpatient Clinics
  - 7.3.2.1 Outpatient Clinics market, 2018 - 2030 (USD Million)
- 7.3.3 Home Healthcare
  - 7.3.3.1 Home health market, 2018 - 2030 (USD Million)
- 7.3.4 Others
  - 7.3.4.1 Others market, 2018 - 2030 (USD Million)

Chapter 8 Competitive Analysis

8.1 Participant's Overview
8.2 Financial Performance
8.3 Company Market Position Analysis
8.4 Participant Categorization
- 8.4.1 Strategy Mapping
- 8.4.2 Facility Expansion
- 8.4.3 Partnerships
- 8.4.4 Mergers & Acquisition
8.5 Company
- 8.5.1 U.S. Physical Therapy, Inc.
- 8.5.2 Select Physical Therapy
- 8.5.3 ATI Physical Therapy
- 8.5.5 Athletico Physical Therapy
- 8.5.5 Drayer Physical Therapy Institute
- 8.5.6 NovaCare Rehabilitation
- 8.5.7 Professional Physical Therapy
- 8.5.8 CORA Health Services, Inc.
- 8.5.9 PT SOLUTIONS
- 8.5.10 Boston Children's Hospital

Product Code: GVR-4-68040-022-3

List of Tables

Table 1 List of secondary sources
Table 2 List of abbreviations
Table 3 U.S. physical therapy services market, by application, 2018 - 2030 (USD Million)
Table 4 U.S. physical therapy services market, by settings, 2018 - 2030 (USD Million)
Table 5 U.S. physical therapy services market, by payer, 2018 - 2030 (USD Million)

List of Figures

Fig. 1 Market research process
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Market research approaches
Fig. 5 Value chain-based sizing & forecasting
Fig. 6 QFD modeling for market share assessment
Fig. 7 Market formulation & validation
Fig. 8 Market outlook
Fig. 9 Physical therapy services market segmentation
Fig. 10 Market trends & outlook
Fig. 11 Market driver relevance analysis (Current & future impact)
Fig. 12 Market restraint relevance analysis (Current & future impact)
Fig. 13 Penetration & growth prospect mapping
Fig. 14 U.S. physical therapy services application movement analysis, 2022 & 2030
Fig. 15 U.S. physical therapy services market: application segment dashboard
Fig. 16 Orthopedic therapy market, 2018 - 2030 (USD Million)
Fig. 17 Geriatric therapy market, 2018 - 2030 (USD Million)
Fig. 18 Cardiopulmonary therapy market, 2018 - 2030 (USD Million)
Fig. 19 Pediatric therapy market, 2018 - 2030 (USD Million)
Fig. 20 Neurological therapy market, 2018 - 2030 (USD Million)
Fig. 21 Women's health market, 2018 - 2030 (USD Million)
Fig. 22 Others market, 2018 - 2030 (USD Million)
Fig. 23 U.S. physical therapy services settings movement analysis, 2022 & 2030
Fig. 24 U.S. physical therapy services market: settings segment dashboard
Fig. 25 Hospitals market, 2018 - 2030 (USD Million)
Fig. 26 Outpatient clinics market, 2018 - 2030 (USD Million)
Fig. 27 Home healthcare, 2018 - 2030 (USD Million)
Fig. 28 Others market, 2018 - 2030 (USD Million)
Fig. 29 U.S. physical therapy services payer movement analysis, 2022 & 2030
Fig. 30 U.S. physical therapy services market: payer segment dashboard
Fig. 31 Public insurance market, 2018 - 2030 (USD Million)
Fig. 32 Private insurance market, 2018 - 2030 (USD Million)
Fig. 33 Out of pocket, 2018 - 2030 (USD Million)
Fig. 34 Recent developments & impact analysis, by key market participants
Fig. 35 Strategy framework
Fig. 36 Competition Categorization
Fig. 37 Company market position analysis