The US Occupational & Physical Therapy Services Market size was USD 47.50 billion in 2021. The market is expected to expand from USD 50.26 billion in 2022 to USD 72.70 billion by 2029, exhibiting a CAGR of 5.4% during the forecast period. The surge can be credited to the escalating number of sports injuries and the increasing prevalence of chronic diseases in the country.
Key Industry Development:
September 2021– Upstream Rehabilitation Inc. announced the acquisition of Results Physiotherapy. The move was aimed at becoming the largest pure-play outpatient physical therapy provider in the U.S.
Drivers and Restraints:
Market Share to Rise Due to Soaring Demand for Rehabilitation Services
One of the major factors propelling the US Occupational & Physical Therapy Services Market growth is the increasing prevalence of chronic diseases. Additional factors favoring industry expansion comprise the soaring demand for rehabilitation services, including PT and OT services.
However, the industry growth could be hampered by the high claim denials related with physical and associated therapies. The significant reasons for claim denial include eligibility issues, failure to establish medical necessity, and misuse of modifier codes.
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