According to a new report published by UnivDatos Markets Insights, the Outpatient Rehabilitation Centers Market was valued at USD 80 billion in 2020 and is expected to grow at a CAGR of around 7% from 2022-2028. The analysis has been segmented into Type (Physical Therapy, Speech Therapy, Occupational Therapy, Cognitive Rehabilitation Therapy, Others); Age (Pediatric, Adult, Geriatric)); Region/Country.
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The Outpatient Rehabilitation Centers market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Outpatient Rehabilitation Centers market. The Outpatient Rehabilitation Centers market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Outpatient Rehabilitation Centers market at the global and regional levels.
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Market Overview
The global outpatient rehabilitation centers market size is projected to witness a significant CAGR of 7% from 2022 to 2028 owing to the growing aging population paired with associated age-related diseases, and increasing demand for residential care facilities among others. Rehabilitation refers to interventions designed to optimize functioning and reduce disability in individuals with health conditions in their interactions with their environment. It addresses the needs of a broad range of people across the lifespan. Rehabilitation is a fundamental component of health care, often needed to achieve and maintain the best outcomes for other health interventions such as surgery, trauma care, and management of non-communicable diseases. Furthermore, the aging population is increasing at a fast pace all over the world. According to the World Population Ageing Report by the UN, there were 727 million persons aged 65 years or over in 2020 and is expected to reach over 1.5 billion by 2050. Muscle strength and physical labor capabilities weaken with increasing age requiring physical and other therapies to keep the body working. Thus, the market is expected to witness significant growth during the forecast period.
Some of the major players operating in the market include US Physical Therapy Inc., Upstream Rehabilitation Inc., Select Medical, Forrest Health, The Mount Sinai Health System, UAB Health System, Cambridge Medical & Rehabilitation Center, Universal Health Services Inc., Unity Health Toronto, and Baylor Scott & White Institute for Rehabilitation.
COVID-19 Impact
During the COVID 19 pandemic, the outpatient rehabilitation centers market was adversely affected due to supply chain issues. Various research studies have provided insight into the impact of Covid on the studied market. For instance, in May 2020, a study published titled "COVID-19: Maintaining Essential Rehabilitation Services Across the Care Continuum" stated that enhanced measurement and monitoring are desperately needed at the individual, health system, and national levels.
The global Outpatient Rehabilitation Centers market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· On the basis of type, the market is segmented into physical therapy, speech therapy, occupational therapy, cognitive rehabilitation therapy, and others. In 2020, physical therapy accounted for the major share in the market. This is mainly due to the rising aging population, rising obesity levels, consumers seeking alternatives to opioids for pain management, and the cost savings and effectiveness of outpatient rehab. Physical therapy incorporates stretching, strengthening exercises, and range-of-motion exercises and offers customizable treatment, limiting time away from work and family.
· Based on age, the outpatient rehabilitation centers market is divided into a pediatric, adult, and geriatric. The adult segment dominated the market in 2020 and is expected to retain its dominant position during the forecast period. Cultural shifts are leading the adult population globally to pursue more active lifestyles, supporting higher utilization of outpatient physical therapy services for recovery following an exercise-related or another injury. However, the rising geriatric population coupled with the increasing prevalence of knee arthritis among the old age population and an increase the knee replacement surgeries will also drive the growth of the geriatric segment during the forecast period.
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Outpatient Rehabilitation Centers Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
In 2020, North America accounted for a significant market share. The rising growth of this market in the region is mainly due to the rising sports activities & injuries, spinal injuries, and the availability of a high number of outpatient rehabilitation clinics in the region. Furthermore, support from private and public reimbursement programs further boosts the adoption of outpatient therapies. Due to the proven efficacy and cost-effectiveness of physical therapy and other therapies, reimbursement rates are expected to remain stable relative to the overall health services landscape over the long term.
The major players targeting the market include
· US Physical Therapy Inc.
· Upstream Rehabilitation Inc.
· Select Medical
· Forrest Health
· The Mount Sinai Health System
· UAB Health System
· Cambridge Medical & Rehabilitation Center
· Universal Health Services Inc.
· Unity Health Toronto
· Baylor Scott & White Institute for Rehabilitation
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Outpatient Rehabilitation Centers Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Outpatient Rehabilitation Centers market?
• Which factors are influencing the Outpatient Rehabilitation Centers market over the forecast period?
• What are the global challenges, threats, and risks in the Outpatient Rehabilitation Centers market?
• Which factors are propelling and restraining the Outpatient Rehabilitation Centers market?
• What are the demanding global regions of the Outpatient Rehabilitation Centers market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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