SEATTLE, July 22, 2021, (MEDGADGET) — Physical Therapy Rehabilitation Solutions Market
Overview:
Physical therapy (PT), also known as physiotherapy, is a health specialty in which healthcare practitioners treat a variety of human conditions including physical impairments caused by accident, trauma, or disease in the musculoskeletal, cardiovascular, respiratory, neurological, and endocrinological systems. Physical therapy can take many forms, including evidence-based kinesiology, exercise medication, health education, and mobilisation, to name a few. Via diagnosis, prognosis, physical examination, physical intervention, recovery, and disease prevention, physical therapy is used to enhance a patient’s physical functions.
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Covid-19 Impact:
COVID-19 has spread to over 100 countries worldwide since its outbreak in December 2019, causing the World Health Organization to declare it a public health emergency. Globally, as of 7:34pm CET, 17 March 2021, there have been 120,383,919 confirmed cases of COVID-19, including 2,664,386 deaths, reported to WHO. As of 16 March 2021, a total of 363,691,238 vaccine doses have been administered.
The coronavirus (COVID 19) pandemic and related lockdowns in different countries have had a financial effect on companies in all sectors. The private healthcare sector is one of the areas where the COVID-19 pandemic has had a significant effect. The COVID-19 pandemic has put a financial strain on the private healthcare sector in a number of countries.
Furthermore, the coronavirus pandemic has had a negative effect on the production and supply of services, as well as the growth of different companies’ healthcare businesses around the world. This has resulted in the closing of manufacturing establishments, with the exception of those that produce vital goods, as well as disturbances in product and service supply chains. As a result, the COVID-19 pandemic has had a negative impact on the global physical therapy rehabilitation solutions market.
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Drivers:
Increasing geriatric population and rising cases of accidents and injuries is expected to propel growth of the global physical therapy rehabilitation solutions market. For instance, according to the Centers for Disease Control and Prevention (CDC), about one-quarter of people over the age of 65 in the U.S. experience a fall per year, with at least 300,000 of them being treated for hip fractures. The CDC also states that in 2016, over 95 percent of hip fractures were attributed to accidental cases in individuals, costing the United States US$ 31 billion annually.
Restraints:
Limited awareness among individuals about physical therapy treatment and lack of skilled professionals is expected to hinder the growth of physical therapy rehabilitation solutions market.
The global physical therapy rehabilitation solutions market is estimated to be valued at US$ 23.1 billion in 2020 and is expected to exhibit a CAGR of 7.7 % during the forecast period (2020-2027).
Market Trends
Major players in the physical therapy rehabilitation solutions market are focused on approval and launch of new products to enhance their market share. For instance, in April 2020, ATI Physical Therapy launched an online or virtual physical therapy service. This telehealth solution provides patients with a customised and optimised online alternative for physical therapy care.
Major players in the physical therapy rehabilitation solutions market are focused on adopting partnership and collaboration strategies to enhance their market share. For instance, in April 2020, MTI Physical Therapy, a provider of manual therapy and orthopedic sports rehabilitation, collaborated with MedBridge, a producer of video-based healthcare content for telehealth solutions, to launch the option of remote therapy for patient care with low-cost treatment, one-to-one, evidence-based care with the assistance of MedBridge’s Telehealth Virtual Visits solution.
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Market Taxonomy:
Physical Therapy Rehabilitation Solutions Market, by Solution is segmented into:
- Software
- Hardware
By Application:
- Hip Joint
- Spinal Cord Injuries
- Forearms
- Wrist Joints
- Shoulder
- Elbow Joint
- Knee Join
- Others
By Deployment:
- On-premise
- Cloud-base
- Hybrid
By End User:
- Ambulatory Surgical Center
- Self-insured Employer
- Healthcare IDN (Integrated Delivery Network)
- Commercial payer
- Organization
- Physiotherapy Clinics
- Hospitals
- Homecare & Rehabilitation Centers
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
Key Players:
Key players involved in the global physical therapy rehabilitation solutions market include Reflexion Health, eviCore healthcare, Meditab, Isalus, Smith+Nephew, CoRehab srl, Hinge Health, Inc., AC INTERNATIONAL EAST, Cerner Corporation, Kareo, Inc., TherapySync SWORD Health, Inc., MIRA Rehab Limited, Motekforce Link, and GESTURETEK HEALTH.
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