Occupational and Physical Therapy Services Market Size

Occupational & Physical Therapy Services Market Analysis

The occupational and physical therapy services market is projected to register a CAGR of 15.8% during the forecast period.

The COVID-19 pandemic impacted the growth of the occupational and physical therapy services market. For instance, according to an article published in Frontiers in Public Health, in June 2022, a cross-sectional survey was conducted in Japan. It has been observed that mental health occupational therapists had a bigger decline in therapy quality, an increase in workload, and a slower rate of decline in working hours as compared to occupational therapists in the physical health area. Also, as per an article published in RBMT in April 2021, it has been found that a significant proportion of the active working population has been impacted by the pandemic, and the population who need lengthy hospitalization and extensive care have experienced physical, psychological, and cognitive effects that led to functional incapacity. Thus, such a population required both physical and occupational therapies to recover from their health condition. This has impacted market growth during the pandemic. However, the increasing number of sports injuries and resumed therapy services have increased the demand for occupational and physical therapy services, and the market is expected to regain its full potential over the forecast period.

Factors such as the increasing number of occupational and physical therapists, the availability of medical reimbursement in some countries, and the increasing incidence of sports injuries are boosting market growth.

The rising incidences of sports-related injuries are the key factor driving the market's growth. For instance, as per an article published in February 2022, about 8.6 million athletes suffer from sports-related injuries each year in the United States. The 1-year injury rate among elite youth athletes is as high as 91.6%, causing patients to spend millions of dollars on medical care every year. As per the data published by the NSC Injury Facts, in July 2021, about 3.2 million people in the United States received treatment in the emergency department for injuries involving sports and recreational equipment such as exercise, cycling, and basketball. Also, as per an article published in the Orthopedic Journal of Sports Medicine in June 2022, about 6785 soccer match-related and 5035 soccer training-related injuries were reported in Italy in 2021. This is expected to increase the demand for occupational and physical therapies to recover from the injury, hence propelling market growth.

Additionally, the rising government focus on passing new laws and acts as well as renewing the existing policies for occupational health is expected to increase the demand for occupational and physical therapies among patients, thereby fueling the market's growth. For instance, in September 2020, the Indian government passed the Occupational Health and Safety Act to reform and codify the rules governing workplace safety and health. This act also modifies the working conditions of those employed in a business and other related matters.Also, in April 2021, the Province of Ontario will recognize the importance of supporting and nurturing a safety and health culture in every workplace. An Occupational Safety and Health Day was organized during North American Occupational Safety and Health Week, which provides an opportunity to promote workplace safety and health through education on safety and health rights, responsibilities, and prevention measures.

Furthermore, the rising company activities in providing occupational and physical therapies are also contributing to market growth. Work Health Solutions, for example, will expand its services to the Las Vegas market in June 2022 with the opening of a near-site occupational and new employee health clinic.Work Health Solutions provides a range of medical services to companies to create an occupational health care program that is customized to a company's needs, reduces workers' compensation expenses and downtime, and enhances the general well-being of its employees.

Moreover, the rising company's focus on expanding its physical and occupational therapy centers to provide more sophisticated services to patients is also expected to increase market growth. For instance, in April 2021, Luna launched an innovative new Luna Protocols capability to improve the quality and standardization of outpatient physical care therapy.

Therefore, owing to the aforementioned factors, the studied market is expected to grow over the forecast period. However, the lack of awareness and access to services in emerging markets is likely to impede the growth of the occupational and physical therapy services market over the forecast period.