Market Size of Outpatient Home Therapy Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 8.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Outpatient Home Therapy Market Analysis
The Outpatient Home Therapy Market is projected to register a CAGR of 8% during the forecast period.
The COVID-19 pandemic is expected to have positively impacted the market due to the increasing acceptance of outpatient home therapy treatment to minimize hospitalization. For instance, in January 2021, according to Multidisciplinary Respiratory Medicine, the treatment scheme could reduce the risk of hospitalization as only four patients needed to be admitted to the hospital and only two in the sub-intensive department. Similarly, in June 2021, an article published by eClinical Medicine stated that effective home treatment algorithms implemented on a pathophysiologic and pharmacologic rationale accelerate recovery and prevent hospitalization of patients with COVID-19 diseases. In addition, the market growth is stabilizing in the current scenario after COVID-19 as the worldwide restrictions have eased down and the disease screening services have been resumed.
The rising incidence of chronic diseases and the growing geriatric population who prefer home-based therapy such as physical therapy and speech therapy are the major drivers contributing to the market's growth. For instance, in April 2021, an article published by Frontiers in Human Neuroscience mentioned that developmental disorders of speech and language were identified in 61.2% of males and 38.8% of females. Such an increase in the various types of speech-related disorders led to the increasing demand for outpatient home-based therapy, propelling the market's growth.
Moreover, the growing geriatric population who are prone to disease to chronic disorders such as orthopedic complications and neurological complications are also expected to increase the demand for outpatient home therapy. For instance, as per World Population Prospects 2022, the share of the global population aged 65 years or above was projected to rise from 10% in 2022 to 16% in 2050. By 2050, the number of persons aged 65 years or over worldwide is projected to be more than twice the number of children under age 5 and about the same as the number of children under age 12. Since the older population is prone to the disease, it is expected to generate the need for outpatient home-based therapy, thereby driving the market's growth during the forecast period.
Moreover, in May 2021, Expressable launched speech therapy, raising a new USD 4.5 million for telehealth services to support its patients.
Thus, owing to the abovementioned factors, the market is expected to show growth over the forecast period. However, an insufficient number of healthcare professionals for physical therapy and a lack of standardized tools for treatment significantly hinder the market's growth.
Outpatient Home Therapy Industry Segmentation
As per the scope of this report, outpatient home therapy provides treatment in the patients' homes. Outpatient home therapy provides extra comfort to the patients. The Outpatient Home Therapy Market is segmented by Product type (Physical Therapy and Speech Therapy), Age Group (Pediatrics, Adults, and Elderly), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers values (USD million) for the above segments.
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| Physical Therapy | |
| Speech Therapy |
| By Age Group | |
| Pediatrics | |
| Adults | |
| Elderly |
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Outpatient Home Therapy Market Size Summary
The Outpatient Home Therapy Market is experiencing significant growth, driven by the increasing acceptance of home-based treatments, particularly following the COVID-19 pandemic. The pandemic highlighted the benefits of minimizing hospital visits, which has led to a broader acceptance of outpatient home therapy solutions. This trend is further supported by the rising incidence of chronic diseases and a growing geriatric population that prefers home-based therapies such as physical and speech therapy. The demand for these therapies is fueled by the prevalence of speech-related disorders and chronic conditions among the elderly, who are more susceptible to orthopedic and neurological complications. Despite challenges such as a shortage of healthcare professionals and a lack of standardized treatment tools, the market is poised for expansion.
The physical therapy segment is expected to dominate the market, driven by increased patient awareness and a focus on preventive and personalized healthcare. The prevalence of musculoskeletal conditions and cardiopulmonary disorders, particularly among the senior population, is a significant factor contributing to market growth. The United States is anticipated to lead the global market due to its large geriatric population and the high incidence of chronic disorders requiring outpatient home therapy. The presence of major market players and advanced technologies further strengthens this region's market position. The competitive landscape is characterized by several key players, with ongoing developments and partnerships enhancing service delivery and patient access to home-based therapies.
Outpatient Home Therapy Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rise in Incidence of Chronic diseases
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1.2.2 Increasing Awareness about Physical Therapy
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1.3 Market Restraints
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1.3.1 Insufficient Number of Healthcare Professionals for Physical Therapy
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1.3.2 Lack of Standardized Tools for Treatment
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product Type
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2.1.1 Physical Therapy
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2.1.2 Speech Therapy
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2.2 By Age Group
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2.2.1 Pediatrics
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2.2.2 Adults
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2.2.3 Elderly
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle-East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle-East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Outpatient Home Therapy Market Size FAQs
What is the current Outpatient Home Therapy Market size?
The Outpatient Home Therapy Market is projected to register a CAGR of 8% during the forecast period (2024-2029)
Who are the key players in Outpatient Home Therapy Market?
Olean Physical Therapy, AmeriCare Physical Therapy, PIVOT Physical Therapy , Athletico Physical Therapy and Central & Stanley Wellness are the major companies operating in the Outpatient Home Therapy Market.
