Medical Rehabilitation Services Market Expected to Reach $305.7 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Medical Rehabilitation Services Market," The medical rehabilitation services market was valued at $167.8 billion in 2022, and is estimated to reach $305.7 billion by 2032, growing at a CAGR of 6.2% from 2023 to 2032.

Rehabilitation is the process of helping individuals with physical, mental, or emotional disabilities to regain or improve their physical, cognitive, social, and vocational skills so they can lead an independent and productive life. The physical rehabilitation therapy, occupational rehabilitation therapy, and speech rehabilitation therapy are the common types for medical rehabilitation.

The key Medical Rehabilitation Services Market Trends such as rise in prevalence of chronic disorders, surge in geriatric population, and increase in smoking habits act as the driving forces of the growth of global Medical Rehabilitation Services Industry. For instance, according to report of world health organization (WHO) published in May 2022, tobacco kills more than 8 million people each year, in which more than 7 million of those deaths are the result of direct tobacco use, whereas around 1.2 million are the result of non-smokers being exposed to second-hand smoke. The rehabilitation centers assist people to overcome their addictions.

Moreover, increase in awareness of medical rehabilitation services among the population, rise in adoption of advanced technologies, and surge in geriatric population notably contribute toward the growth of the Medical Rehabilitation Services Market Size. The geriatric people are more more to chronic conditions that can benefited by rehabilitation centers such as rheumatoid arthritis, diabetes, and Alzheimer’s disease. For instance, according to World Health Organization (WHO), by 2050, the world’s population of people aged 60 years and older will be 2.1 billion.

However, high cost of medical rehabilitation services and lack of awareness regarding advantages of rehabilitation in population restrict the growth of Medical Rehabilitation Services Industry. Conversely, increased awareness for medical rehabilitation services among the population is expected to provide lucrative opportunities for the growth of the market.

The global medical rehabilitation services market is segmented into services, therapy, end user, and region. On the basis of services, the market is classified into the outpatient rehabilitation services and inpatient rehabilitation services. Depending on the therapy segment the market is classified into physical therapy, occupational therapy, speech therapy, and others.By end user, it is categorized into hospitals, homecare, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of services, the medical rehabilitation services market is classified into outpatient rehabilitation services and inpatient rehabilitation services. In 2022, the outpatient rehabilitation services segment is projected to exhibit the fastest market growth during the Medical Rehabilitation Services Market Forecast period owing to an increase in the adoption of outpatient medical rehabilitation services in post COVID-19 situations and advancements in the telerehabilitation services.

On the basis of therapy, the medical rehabilitation services market is segmented into physical therapy, occupational therapy, speech therapy, and others. In 2022, the speech therapy segment is projected to exhibit the fastest market growth during the forecast period owing to an increase in the adoption of speech rehabilitation services and growing need of speech rehabilitation.

Depending on end user, the medical rehabilitation services market is segmented into hospitals, homecare, and others. In 2022, the homecare segment is anticipated to grow at the highest rate due to an upsurge in use of home based and medical rehabilitation. Moreover, the COVID-19 pandemic and advancements in home based medical rehabilitation services contribute toward the growth of the Medical Rehabilitation Services Market Size.

In 2022, North America dominated the Medical Rehabilitation Services Market Share is expected to continue the same trend throughout the forecast period owing to presence of well-established healthcare infrastructure, strong presence of key players, and surge in the drug abuse and alcoholism cases in the region. However, Asia-Pacific is expected to witness the highest CAGR during the Medical Rehabilitation Services Market Analysis period owing to increase in the number of patients of chronic diseases, which helps to accelerate the demand for medical rehabilitation services, thus fostering the market growth.

Key Findings of the Study

• By services, the inpatient rehabilitation services segment was the major share contributor in 2022.
• By therapy, the physical therapy segment was the major share contributor in 2022
• On the basis of end users, the homecare segment is anticipated to grow with the highest CAGR throughout the forecast period.
• Region wise, North America occupied major share of the medical rehabilitation services market in 2022.