U.S. Occupational & Physical Therapy Services Market to Grow at a CAGR of 10.1% During 2024-2032; Rising Prevalence of Chronic Diseases to Boost Market Growth

The U.S. occupational & physical therapy services market size was valued at USD 54.06 billion in 2023 and market is projected to grow from USD 59.43 billion in 2024 to USD 128.17 billion by 2032, exhibiting a CAGR of 10.1% during the forecast period (2024-2032).

Fortune Business Insights™ presents this information in its report titled, “U.S. Occupational & Physical Therapy Services Market Size, Share & Industry Analysis, By Setting (Hospitals, Outpatient Clinics, and Others), By Application (Orthopedic Therapy, General Therapy, Geriatric Therapy, Pediatric Therapy, Neurological Therapy, and Others), and By Payor (Public Health Insurance and Private Health Insurance/Out-of-pocket), and Country Forecast 2024-2032”.

Occupational & physical therapy services are important to alleviate the quality of people who have musculoskeletal disorders, cognitive disabilities, chronic pain, movement disorders, and others. These therapies are useful in treating short-term disabilities related to acute orthopedic conditions and accidental injuries, which turn into chronic conditions. The increasing prevalence of different chronic conditions in the U.S. boosts the market growth. The market is driven by the rising adoption of occupational & physical therapy services.  

The COVID-19 pandemic had a negative impact on the market in 2020. The decreased patient visits to outpatient rehabilitation clinics owing to the strict COVID-19 lockdown regulations in the U.S. during the pandemic hampered market expansion.

U.S. Physical Therapy, Inc. Acquired Two Physical Therapy Practices to Expand its Geographical Presence

In July 2023, U.S. Physical Therapy, Inc., an outpatient physical therapy clinics operator, acquired two physical therapy practices in separate transactions. With this acquisition, U.S. Physical Therapy, Inc., will expand its geographical presence in Alaska and will also open its clinic in the U.S. state of Colorado. The company has acquired 70% equity interest in the two practices and 30% equity interests will retain the current practice owners.

Shifting Preference Toward Non-Opioid Alternatives to Drive Market Growth

The shifting preference of patients toward occupational & physical therapy services from medication owing to the associated side effects with medication therapies bolsters the U.S. occupational & physical therapy services market growth. The substantial coverage delivered by the payors for non-opioid treatment to manage pain has increased the demand for these services in the country. Additionally, the benefits related to physical therapies are expected to raise the demand for these therapies, aiding market expansion.

However, the price capping on the different occupational & physical therapies instigated by the private and public insurance companies in the U.S. may hinder market expansion.

Rising Key Players Focus on Collaborations to Propel Market Growth

The U.S. occupational & physical therapy services market comprises key players, such as Select Medical, Athletico Physical Therapy, Upstream Rehabilitation Inc., and others. The growing focus of these key players on strategic collaborations and the introduction of innovative technology to bolster their market presence drives market growth. For instance, in February 2023, Select Medical Corporation signed a joint venture agreement with AtlantiCare to manage and own 13 outpatient physical therapy centers. With this joint venture, the companies will also manage a new rehabilitation hospital via the southeastern region of New Jersey.

Notable Industry Development

• October 2023 – U.S. Physical Therapy, Inc. acquired two physical therapy practices. With this acquisition, U.S. Physical Therapy, Inc. is planning to expand its presence in Colorado and Alaska.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/u-s-occupational-physical-therapy-services-market-106420

List of the Companies Profiled in the Report:

• fATI Physical Therapy (U.S.)


• Athletico Physical Therapy (U.S.)


• Enhabit Home Health & Hospice (U.S.)


• Upstream Rehabilitation Inc. (U.S.)


• Select Medical (U.S.)


• U.S. Physical Therapy (U.S.)


• PT SOLUTIONS (U.S.)


• LifePoint Health, Inc. (U.S.)

Further Report Findings-

• The outpatient clinics setting segment held the largest U.S. occupational & physical therapy services market share in 2023 and is expected to dominate the market during the projected period. The growth is attributed to the rising number of industrial accidents in the U.S.


• The hospitals segment is expected to hold the dominant market share during the forecast period. The increased prevalence of chronic diseases and surging partnerships between hospitals and key market players providing occupational and physical therapies.


• The orthopedic therapy application segment dominated the market in 2023 owing to the rising bone fracture cases in the U.S.


• The neurological therapy segment is expected to witness highest CAGR growth during the projected period due to the launch a new physical services for neurological conditions.


• By payor, the private health insurance/out-of-pocket segment held a dominant market share in 2023 owing to the increasing initiatives by private insurance companies to cover these therapy services.


• The public health insurance segment accounted for a substantial market share due to the collective initiatives by Medicaid, Medicare, and several other public health insurers to deliver affordable healthcare services in the U.S.

Table of Segmentation