US Physical Therapy Market
Physical therapy services are essential to improve the quality of life of individuals suffering from chronic pain, cognitive disabilities, musculoskeletal disorders, movement disorders, and others. These therapies can be used to treat short-term disabilities associated with accidental injuries and acute orthopedic conditions that become chronic conditions. At present, the US is witnessing a rise in the demand for physical therapy services. The growing importance of physical therapists and increasing direct access to therapy are noteworthy factors contributing to the expansion of the US physical therapy market size. On the other hand, burnout among physical therapists hinders market growth. Moreover, patient engagement with the adoption of advanced technologies is expected to bring new US physical therapy market trends in the coming years.
Growing Importance of Physical Therapists Drives US Physical Therapy Market Growth
Physical therapy is an important aspect of the recovery process of patients undergoing treatments for disabilities, injuries, and chronic conditions. According to a study funded by the Parkinson’s Foundation, published in late 2022, ~90,000 people are diagnosed with Parkinson’s disease annually in the US. This number indicates a 50% upsurge from the previously projected rate of 60,000 diagnoses annually. The disease can cause considerable mobility limitations, making it challenging for people to move around independently. Further, traumatic brain injury (TBI) often occurs as a result of severe sports injuries or road accidents. As per a report published by the Brain Injury Association of America in March 2024, nearly 2.8 million people in the US sustain TBIs annually, resulting in ~280,000 cases of hospitalizations. Approximately 50,000 of these injuries are fatal, which results in almost 155 deaths every day from TBI-related injuries. Moreover, as per the American Academy of Neurology, stroke is the third leading cause of death in the US. Centers for Disease Control and Prevention (CDC) data states that one in six deaths from cardiovascular disease in the US was due to stroke in 2021. Approximately 795,000 people in the country experience stroke every year; ~610,000 of these are first or new strokes. Physical therapy can help patients who have Parkinson’s disease and TBIs stay mobile and retain physical function as the disease progresses by assisting them in relearning daily activities, which, in turn, allows the restoration of fitness and wellness. Moreover, the therapists work with stroke patients to improve their strength, coordination, and balance to help them regain the ability to perform day-to-day activities.
The CDC estimates that 1.6–3.8 million sports and recreation-related concussions occur annually in the US. Professional athletes, young people, children playing in clubs, and adults are all contributors to the increase in sports injuries in the country. The incidence of ligament tears and fractures is high among athletes. According to the Hopkins Medicine report, ~3.5 million sports-related injuries are reported annually in the US. As per 2024 Stanford Medicine Children’s Health data, ~30 million youth and children play sports annually in the US. The increasing contribution to sports and fitness activities reflects a high incidence of sports injuries. Physical therapists create treatment plans for athletes following sports-related injuries and surgeries.
Physical therapists are experts in detecting, diagnosing, and treating movement problems. Traditionally, their roles involve prescribing exercises to patients and providing hands-on care services to help them develop, maintain, and regain functional ability. Patients require assistance in regaining the activity when it is compromised by aging, chronic or progressive diseases, injuries, or other conditions. Physical therapy is crucial in effectively managing conditions such as neurological diseases, cardiovascular and musculoskeletal disorders, and sports injuries. In addition, therapists can offer preventive care, rehabilitation, education, and treatment to patients with chronic conditions. They assist individuals to maintain or restore as much function as possible, which is crucial for overall health, wellness, and independence. Thus, the burgeoning importance of physical therapists with surging cases of neurological diseases, sports injuries, and cardiovascular and musculoskeletal disorders propels the US physical therapy market growth.
US Physical Therapy Market: Competitive Landscape and Key Developments
ATI Physical Therapy, Inc, Physical Therapy Now, The Jackson Clinics, Select Physical Therapy, Onward Physical Therapy, PT SOLUTIONS, Athletico Physical Therapy, Confluent Therapy Solutions, Upstream Rehabilitation Inc., and Peak Performance Physical Therapy are a few key companies operating in the market. These companies focus on product innovation strategies to meet evolving customer demands, along with maintaining their brand name in the US physical therapy market.
As per company press releases, a few recent developments initiated in the global US physical therapy market report are mentioned below:
- In March 2024, Athletico Physical Therapy opened a new location in Rochester Hills, Michigan, at the corner of E. Avon and Rochester Rd. next to Starbucks. The location offers convenient hours, including early morning and late evening appointments, and does not need a referral or prescription to start treatment. It also offers patients the alternative to have their condition assessed and treated virtually by a licensed physical or occupational therapist via a secure online video chat.
- In August 2023, PT Solutions was introduced as the official physical therapy partner of the Tampa Bay Buccaneers. The partnership is centered around the team’s youth football programming, with a prominence on providing wellness services throughout the Tampa Bay community. In an attempt to develop programs and support youth health and wellness, PT Solutions will be onsite for the Girl’s Flag Football Tournament and support the boy’s 7-on-7 and 11-on-11 tournaments.
