Physical Therapy Software Global Market Report 2024

The global physical therapy software market has grown strongly in recent years. It will grow from $24.56 billion in 2023 to $26.35 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth observed in the historical period is linked to several key factors, including the escalating costs within the healthcare sector, a heightened emphasis on patient-centered care approaches, the integration of advanced diagnostic tools, a growing preference for outcome-driven care, and an increasing demand for remote healthcare services.

The global physical therapy software market is expected to see strong growth in the next few years. It will grow to $34.87 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. Anticipated growth in the forecast period is expected to stem from several contributing factors, including ongoing support for professional development, the adoption of personalized treatment methods, the surge in mobile and cloud-based solutions, the focus on value-based care initiatives, and the establishment of interoperability standards. Noteworthy trends during this period encompass the development of educational and training tools, a heightened emphasis on patient engagement, prioritization of data security and compliance measures, increased integration and interoperability, and a strong focus on outcomes and analytics.

The expected rise in osteoporosis cases is poised to drive growth in the physical therapy software market. Osteoporosis, characterized by decreased bone density or quality, often leads to fractures. Utilized during clinical processes, this software aids patients with treatment information, claims, invoices, and home exercise recommendations. As per statistics from Amgen Inc. in May 2022, osteoporosis causes approximately 1.5 million fractures annually in the US, generating associated costs of $19 billion. Predictions indicate a 68% surge in annual fractures by 2040. This prevalence surge is anticipated to fuel demand for physical therapy software.

An increasing need for physical therapists is expected to fuel the growth of the physical therapy software market. These professionals aid individuals with limited physical functioning, employing software to streamline practice, enhance patient care, and boost efficiency. Statistics from the Bureau of Labor Statistics in September 2023 project a 15% increase in physical therapist jobs, amounting to 37,300 new positions between 2022 and 2032. This escalating demand for physical therapists is a driving force behind the expanding market for physical therapy software.

Integration of artificial intelligence (AI) to predict clinical outcomes via Electronic Health Records (EHRs) has emerged as a significant trend in the physical therapy software market. AI applications in this software analyze and interpret intricate healthcare data, simulating human behavior. Fujitsu Limited introduced 'HOPE ROMREC' in Japan in February 2021, employing AI to measure shoulder and elbow joint movements. This advancement streamlines data linkage with electronic medical records, eliminating manual input, and enhancing data recording efficiency during rehabilitation sessions.

Major companies in the physical therapy software market are concentrating on technological innovations, notably electronic medical record (EMR) platforms, to gain a competitive edge. EMR platforms efficiently manage patient records and offer comprehensive medical information access. For instance, Alliance Physical Therapy Partners introduced AgileEMR in February 2021, a cost-effective cloud-based system optimizing clinic management and revenue. This user-friendly platform, ensuring compliance and customizable user rights, offers a significant technological leap for the market.

In April 2022, Netsmart, a prominent US-based health technology company, completed the acquisition of TheraOffice for an undisclosed sum. This strategic acquisition enriches the Netsmart CareFabric platform, empowering therapy providers with enhanced connectivity across diverse healthcare settings. TheraOffice, a leading US-based provider specializing in physical therapy EMR software, augments Netsmart's capabilities in streamlining and integrating therapy-related processes within the healthcare landscape.

Major companies operating in the physical therapy software market report are MPN Software Systems Inc., Practice Pro, TherapySync, Optima Healthcare Solutions LLC, Meditab Software Pvt Ltd., Systems4PT, Net Health, Phydeo, Optimis Corp., My Rehab Pro, Yocale, WebPT, BioEx Systems Inc., Warburg Pincus LLC, DrChrono Inc., ClinicSource, NXGN Management LLC, MICA Information Systems Inc., Healigo, Practice Fusion Inc., Casamba LLC, CLINICIENT, Fusion Web Clinic, TheraOffice, Raintree Systems, Pearle Computer Services, 3D Practice, RehabMyPatient, Practice Perfect, SimplePractice

North America was the largest region in the physical therapy software market in 2023. The regions covered in the physical therapy software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the physical therapy software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of terminals in physical therapy software encompass PC terminals and mobile terminals. A PC terminal functions as a hardware device facilitating the input, retrieval, and display of electronic data. In the domain of physical therapy software, PC terminals play a crucial role in averting administrative errors within hospitals and rehabilitation centers. These systems are deployed in diverse environments including on-premises and cloud-based setups, strategically implemented across hospitals, clinics, and other relevant healthcare facilities.

This report provides physical therapy software market statistics, including physical therapy software industry global market size, regional shares, competitors with a physical therapy software market share, detailed physical therapy software market segments, market trends and opportunities, and any further data you may need to thrive in the physical therapy software industry. This physical therapy software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The physical therapy software market includes revenues earned by entities by providing practice management, patient relationship management, visit scheduling, telehealth, healthcare online assistance, billing, database information, task automation, quality control. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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