Medical Rehabilitation Services Market to Attain a Valuation of US$ 558.7 Million by 2031
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Some initiatives that the government offers to support the rehabilitation market include the creation of rehabilitation centers and clinics, the provision of financial aid, the funding of research and development, insurance coverage for rehabilitation services, awareness campaigns, tax incentives, and collaborations with private sector organizations. These government initiatives aim to make rehabilitation services more widely available, lower the cost of providing those services, and raise public awareness of the importance of rehabilitation. For instance, in order to support the Rehabilitation 2030 Plan, the World Health Organization also founded the World Rehabilitation Alliance (WRA). In order to achieve universal health coverage, the WRA promotes rehabilitation as a crucial medical service.
During the forecast period, rising rates of drug misuse, alcoholism, and depression are anticipated to fuel demand for these services. According to WHO statistics, 280 million people worldwide experienced depression as of 2021. Psychological therapies such as cognitive behavioral therapy, behavioral activation, interpersonal psychotherapy, or antidepressant medication are frequently used to treat depression.
Physical Therapy Dominated the Global Medical Rehabilitation Service Market
In the base year 2022, the physical therapy segment dominated the global market and generated half of the total revenue share. Many illnesses, such as burns, musculoskeletal disorders, neurological disorders, sports injuries, and wound care, are treated with physical therapy on a regular basis. This therapy can enhance a person's balance, voluntary movements, and muscular strength. For instance, according to the National Safety Council, injuries caused by gym equipment accounted for 409,000 injuries in 2021, making it the largest source of injuries.
Contrary, the cognitive rehabilitation segment maintained a second position in the global market and will generate the highest CAGR over the analysis years. This is due to the increasing need for mental health services and the incidence of neurological illnesses.
Outpatient Treatment Type is Commonly Preferred by End-Users
In 2022, the outpatient segment acquired a revenue share of 58% of the global medical rehabilitation service market. One of the main advantages of an outpatient program is its flexibility, which enables it to be tailored to the needs and schedule of the patient. Patients can choose how frequently they visit due to this flexibility, which makes it simple for them to go about their daily lives while receiving life-saving care. For instance, according to a study by Orthopedic Nursing, patients who got outpatient physical rehabilitation therapy soon after surgery returned to their regular activities up to 20 days earlier than the patients who did not receive the therapy.
Neurological Therapeutic Area to Grow at the Highest CAGR
The Orthopedic segment is likely to have strong development potential in the rehabilitation sector, with a predicted gain of US$ 116.8 million from 2023 to 2031. However, the neurological segment held the second-largest market share in 2022. Neurological rehabilitation programs aim to enhance the patient's physical, emotional, and social well-being. Many rehabilitation institutions specialize in treating neurological diseases. For instance, the Reut Rehabilitation Center, in addition to providing specialized treatment for patients with chronic illnesses, is a key provider of rehabilitation services for patients with spinal cord injuries, brain disorders, and stroke injuries.
End-Users Majorly Prefer Hospitals for Rehabilitation Service Providers
In terms of service providers, the hospital sector rules the medical rehabilitation services market. The growth of this market segment has been influenced by the rising number of patients requesting rehabilitation treatments at hospitals and clinics. Furthermore, hospitals frequently employ a multidisciplinary group of medical specialists who may offer patients extensive rehabilitation treatments, including physical therapists, occupational therapists, and speech therapists.
North America Attained 50% of the Market Revenue Share
North America held a lucrative share of more than 50% of the global medical rehabilitation services market in 2022. One of the major factors propelling the market for rehabilitation services in North America is the increasing prevalence of chronic diseases, including cancer, heart disease, and diabetes. The Centers for Disease Control and Prevention (CDC) estimate that chronic diseases account for 71% of all fatalities and 86% of healthcare expenditures in the US. The region has experienced a large increase in demand for rehabilitation services due to the burden of chronic diseases.
The global market growth is also due to access to cutting-edge medical technology, including robotic exoskeletons, virtual reality, and telemedicine, as well as superior healthcare infrastructure. The availability of cutting-edge technologies has raised the standard of rehabilitation treatments and increased patient accessibility.
Some of the major reasons that promoted the expansion of the market include the availability of rehabilitation services in-home care and outpatient facilities as well as attractive reimbursement rules. Medicare Part B, which pays up to 80% of medical expenses, covers outpatient therapies like speech-language, occupational, and physical therapy.
The Asia Pacific region is likely to generate the highest compound annual growth rate (CAGR) over the forecast years. Asia's market expansion is a result of supportive government programs and reimbursement regulations. For instance, the Indian government established the National Program for Healthcare of the Elderly (NPHCE) to offer elderly people healthcare services, including rehabilitation treatments. By increasing awareness and facilitating greater access to rehabilitation services, these measures are anticipated to accelerate market development in the region.
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Top 4 Players Attain a Market Revenue Share of 20%
Athletico Physical Therapy, Ability Lab, The Royal Buckinghamshire Hospital, and Paradigm Healthcare, the top four players in the market, are now expected to contribute only roughly 20% of the overall market revenue, indicating there is significant room for growth for other competitors in this market. This is a result of the rising demand for medical rehabilitation services and the transition from traditional treatment approaches to preventive care.
Recent Key Developments in the Market
In order to obtain a competitive edge in the market, these firms concentrate on launching new products, collaborating with others, and forming partnerships.
• In May 2023, Encompass Health opened a new, 60-bed freestanding inpatient rehabilitation center in Bowie. The Rehabilitation Hospital of Bowie, located at 17351 Melford Boulevard, will receive its first patients in June.
• In May 2023, to combine 24 outpatient physical therapy clinics in North Texas, Medical City Healthcare formed a joint venture with a nationwide operator of physical therapy clinics. Physical Rehabilitation Network, based in California, maintains more than 200 physical therapy clinics throughout 17 states, including one in North Texas under the name Vista Physical Thera.
• In March 2023, Olmsted Medical Centre introduced the new Rehabilitation Services location. More space is devoted to specialty services at the new Elton Hills Drive clinic, which is between OMC's north FastCare Clinic and the former rehab facility.
• In May 2021, through collaborations with Alkholi, Surgicorp, Swiss Rehabilitation, and Guttmann Barcelona, MindMaze increased the scope of its digital neurotherapeutics (DTx) solutions globally. The company will be able to grow its clientele in the Middle East, Latin America, Switzerland, and Spain thanks to this partnership.
Some of the notable competitors profiled in the global medical rehabilitation services market are:
AbilityLab
Athletico Physical Therapy
Lifespan Health System
Med Center Health
nMotion Physical Therapy
Paradigm Healthcare
Performance Rehabilitation Institute of Sports Medicine
SuVitas
The Royal Buckinghamshire Hospital
U.S. Physical Therapy, Inc.
Other Prominent Players
Segmentation Outline
The global medical rehabilitation services market segmentation focuses on Type, Treatment Type, Therapeutic Area, Service Provider, and Region.
By Type
Occupational Therapy
Physical Therapy
Speech Therapy
Cognitive Rehabilitation
Others
By Treatment Type
Inpatient
Outpatient
By Therapeutic Area
Orthopedic
Neurological
Cardiac
Sports-Related Injuries
Others
By Service Provider
Hospital
Clinic
Rehabilitation Center
Physiotherapy Center
Others
By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
South Korea
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Argentina
Brazil
Rest of South America
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