|Fastest Growing Market:||North America|
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The Outpatient Home Therapy Market is projected to register a CAGR of 8% during the forecast period (2022-2027).
The COVID-19 pandemic is expected to positively impact the market due to the increasing acceptance of outpatient home therapy treatment to minimize hospitalization. For instance, In 2021, the article titled' Preventive home therapy for symptomatic patients affected by COVID-19 and followed by teleconsultations' published that this treatment scheme could reduce the risk of hospitalization as only four patients needed to be admitted to the hospital and only two in the sub-intensive department. Similarly, in 2021 the article titled 'A single, home- therapy algorithm to prevent hospitalization for Covid-19 patients: A retrospective observational matched-cohort study' published that effective home treatment algorithms implemented on a pathophysiologic and pharmacologic rationale to accelerate recovery and prevent hospitalization of patients with COVID-19 diseases.
The Rising incidence of chronic diseases and the growing geriatric population who prefer home-based therapy such as physical therapy and speech therapy are the major drivers contributing to the market's growth. For instance, in 2020, 'the Cost of Cerebellar Ataxia in Hon Kong: A retrospective Cost-of-illness Analysis' was published, and the mean severity of ataxia was 21 out of 40. Similarly, an article published in 2019, titled 'Estimated of the prevalence of motor speech disorders in children with idiopathic speech delay' mentioned that Childhood apraxia of speech is estimated to occur in 1 child per 1,000. Also, in 2021, the article titled 'Prevalence and therapy rates for stuttering, Cluttering and Developmental disorders of Speech and Language: Evaluation of German Health Insurance data' mentioned that Developmental disorders of speech and language were identified in 61.2% of males and 38.8% females. Such an increase in the various types of speech-related disorders led to the increasing demand for outpatient home-based therapy, propelling the market's growth.
Moreover, the growing geriatric population who are prone to disease to chronic disorders such as orthopedic complications and neurological complications are also expected to increase the demand for outpatient home therapy. According to the United Nations Department of Economic and Social Affairs report titled 'World Population Ageing 2020 Highlights,' there were 727 million persons aged 65 years or over in the world in 2020. It is expected to double and reach nearly 1.5 billion in 2050. Since the older population is prone to the disease, it is expected to generate the need for outpatient home-based therapy, thereby driving the market's growth during the forecast period.
Scope of the Report
As per the scope of this report, outpatient home therapy provides treatment in the patients’ homes. Outpatient home therapy provides extra comfort to the patients. The Outpatient Home Therapy Market is segmented by Product type (Physical Therapy, Speech Therapy), Age Group (Pediatrics, Adults, and Elderly), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The Market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers values (USD million) for the above segments
|By Product Type|
|By Age Group|
Key Market Trends
The Physical therapy Segment is Expected to Hold a Major Market Share in the Outpatient Home Therapy Market
The sudden outbreak of COVID-19 had a positive impact on the market growth due to sudden restriction of movements, thereby increasing the adoption of home-based therapies by patients to reduce the infection rate.
The Physical therapy Segment is expected to dominate the studied market segment during the forecast period. It is mainly due to the increasing patient awareness and the focus on preventive and personalized health care. Physical therapy consists of Orthopedic physical therapy, Geriatric physical therapy, Neurological Physical therapy, Cardiopulmonary and pulmonary physical therapy, and others. The increasing prevalence of the abovementioned conditions is expected to drive the market's growth. According to the World Health Organization (WHO), in 2021, approximately 1.71 billion people will have musculoskeletal conditions. While the prevalence of musculoskeletal conditions varies by age and diagnosis, people of all ages worldwide are affected.
Similarly, the senior population prone to chronic conditions such as cardiopulmonary disorders is expected to increase the growth of the studied segment. For instance, the MDPI Journal research article titled 'Prevalence of Peripheral Arterial Disease and Associated Vascular Risk Factors in 65-Years-Old People of Northern Barcelona' published in September 2021, reported that the worldwide prevalence of peripheral arterial disease (PAD) is estimated to be 3–12%, affecting nearly 27 million people in America and Europe. The same source also reported that in Europe, the prevalence of PAD is estimated at around 17.8% in the ages of 45 and 55. Thus, these studies showing the high burden of peripheral vascular diseases are expected to boost the market's growth. Such a large prevalence of geriatric population with muscular skeletal issues globally is fueling the market's growth. Thus due to the abovementioned factors, the studied segment is expected to grow during the forecast period.
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North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period.
The United States is likely to command the global market owing to the increasing adoption of Outpatient Home Therapy and the rising geriatric population in this region. The robust growth of Outpatient Home Therapy can be attributed to the increasing chronic disorders in this region. For instance, the article published in 2021 titled 'Speech Impediment Statistics Around the United States mentioned that Speech disorders are common impairment that plagues many Americans. The increasing geriatric population prone to diseases is also expected to drive the market's growth. For instance, the Centers For Disease Control and Prevention (CDC) article titled 'Peripheral Arterial Disease (PAD),' updated in September 2021, reported that approximately 6.5 million people aged 40 and older in the United States have the peripheral arterial disease. The increasing population with the peripheral arterial disease increased the demand for physical therapy as the disease leads to severe leg pains. Moreover, the presence of major market players and advanced technologies for product development is expected to mark this region with dominating share. Additionally, an increase in research and development activities and favorable healthcare infrastructure are fueling the growth of the overall regional market to a large extent.
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The Outpatient Home Therapy Market is fragmented and competitive and consists of several major players. In terms of market share, a few major players dominate the market. Some companies currently dominating the market are Olean Physical Therapy, Graceville Physiotherapy, AmeriCare Physical Therapy, Athletic Physical Therapy, Full-motion Physical Therapy, PIVOT Physical Therapy, SPI ProHealth Limited Hongkong, Central and Stanley Wellness, and Therapy Solutions.
In April 2022, Luna and Rady Children's Hospital announced a partnership through which Luna will provide home-based outpatient physical therapy to Rady Children's patients, greatly expanding patient access and ensuring continuity of care.
In May 2021, Expressable launched speech therapy, raising a new USD 4.5 million for telehealth services to support its patients.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Incidence of Chronic diseases
4.2.2 Increasing awareness about physical therapy
4.3 Market Restraints
4.3.1 Insufficient Number of healthcare professionals for physical therapy
4.3.2 Lack of standardized tools for treatment
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Physical Therapy
5.1.2 Speech Therapy
5.2 By Age Group
5.3.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
5.3.5 South America
220.127.116.11 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Olean Physical Therapy
6.1.2 Graceville Physiotherapy
6.1.3 AmeriCare Physical Therapy
6.1.4 Athletico Physical Therapy
6.1.5 FullMotion Physical Therapy
6.1.6 PIVOT Physical Therapy
6.1.7 SPI ProHealth Limited Hong Kong
6.1.8 Central and Stanley Wellness
6.1.9 Therapy Solutions Inc
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Outpatient Home Therapy market is studied from 2019 - 2027.
What is the growth rate of Global Outpatient Home Therapy ?
The Global Outpatient Home Therapy is growing at a CAGR of 8% over the next 5 years.
Which region has highest growth rate in Global Outpatient Home Therapy ?
North America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Outpatient Home Therapy ?
Asia-Pacific holds highest share in 2021.
Who are the key players in Global Outpatient Home Therapy ?
Olean Physical Therapy, AmeriCare Physical Therapy, PIVOT Physical Therapy , Athletico Physical Therapy , Central & Stanley Wellness are the major companies operating in Global Outpatient Home Therapy .