The occupational therapy market size has grown strongly in recent years. It will grow from $4.94 billion in 2023 to $5.26 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth observed in the historical period can be attributed to several factors, including the aging population, the prevalence of chronic conditions, an increasing awareness of mental health, adherence to occupational health and safety regulations, and the expanding scope of occupational therapy practice.
The occupational therapy market size is expected to see strong growth in the next few years. It will grow to $6.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The anticipated growth in the forecast period can be attributed to several factors, including the integration of telehealth services, a rising incidence of developmental disorders, personalized and client-centered approaches in occupational therapy, a heightened focus on mental health in the workplace, and the incorporation of research and evidence-based practices. Major trends expected in the forecast period include increased collaboration with other healthcare professions, advancements in rehabilitation technologies, addressing population aging and geriatric care, specialized pediatric occupational therapy services, and a focus on workplace ergonomics and wellness programs.
The increasing incidence of mental disorders is anticipated to drive the growth of the occupational therapy market in the future. Mental disorders, also referred to as psychiatric disorders or mental illnesses, are medical conditions affecting a person's thoughts, emotions, behavior, and overall mental well-being. Occupational therapy proves beneficial in treating and managing mental disorders by focusing on helping individuals with mental health challenges develop the necessary skills and strategies for leading meaningful and fulfilling lives. For example, data from March 2023, as reported by the National Center for Biotechnology Information, estimates that there were approximately 14.1 million adults aged 18 or older in the United States with serious mental illness (SMI). Additionally, in November 2022, as per the National Health Service, the proportion of people with a probable mental disorder, aged 17 to 19 years old, increased from 17.4% in 2021 to 25.7% in 2022. Therefore, the growing incidence of mental disorders is a key driver for the occupational therapy market.
An increase in spending on mental health is expected to contribute to the growth of the occupational therapy market in the near future. Spending on mental health involves allocating financial resources to provide mental health services, treatments, and support for individuals dealing with mental health issues. The level of spending on mental health significantly impacts occupational therapy by influencing the availability and quality of mental health services and support for individuals facing mental health challenges. For instance, a study by RAND Corporation in August 2023 reported that spending on mental health services increased by over 50% from March 2020 to August 2022, accompanied by a 39% increase in the use of mental health services. Therefore, the rise in spending on mental health is a driving factor for the growth of the occupational therapy market.
The lack of skilled healthcare personnel, including occupational therapists, is anticipated to impede the growth of the occupational therapy market. Skilled health personnel are proficient maternal and newborn health professionals who have received education, training, and adhere to national and international standards. This scarcity of skilled health personnel has resulted in staffing reductions, increased demand, workforce shortages, burnout, and challenges in delivering essential services. For example, in 2022, the Local Government Association in the UK reported an increase in the vacancy rate for occupational therapists from 7.1% in 2020 to 11.3% in 2022. Therefore, the insufficient availability of skilled healthcare personnel is hindering the growth of the occupational therapy market.
Major companies operating in the occupational therapy sector are focusing on developing technologies such as AI-powered physical rehabilitation solutions. These innovations leverage artificial intelligence to elevate and revolutionize the field of physical therapy and rehabilitation. For example, in February 2021, for instance, Fujitsu Limited, a Japan-based information and communications technology company, introduced HOPE ROMREC, an AI-driven physical rehabilitation solution. This solution utilizes rehabilitation videos to automatically measure and visualize a patient's shoulder and elbow angles. The Fujitsu image analysis AI engine employed in this technique comprises numerous picture recognition models, significantly enhancing the efficiency of visually measuring joint curvature. This process, typically performed by physical and occupational therapists, assists medical personnel in diagnosing patient conditions and evaluating the efficacy of therapies.
In January 2022, Rethink Autism Inc., a US-based behavioral health technology company, completed the acquisition of Total Therapy Inc. for an undisclosed amount. This strategic move by Rethink Autism Inc. aims to expand its offerings to better serve multi-disciplinary providers caring for patients with developmental disabilities in a rapidly growing market. Total Therapy, based in the US, is a software company providing high-quality therapy services, including occupational, physical, and speech therapy.
Major companies operating in the occupational therapy market report are Abbott Laboratories, STERIS Corporation, Getinge AB, Johns Hopkins Medicine International LLC, Premise Health Holding Corp., Cantel Medical Corporation, Midmark Corporation, Ergotron Inc., Performance Health Holdings Inc., Accord Medical Products Pvt. Ltd., A-Dec Inc., Drive DeVilbiss Healthcare, WebPT Inc., Net Health Systems Inc., Clinicient Inc., Dynasplint Systems Inc., AliMed, Optima Health Care Inc., Maddak Inc., Bio Med International Pvt. Ltd., Alliance Therapy Services, Rifton Equipment, BioSensics, ClinicSource, Divine Physiotherapy Equipments.
North America was the largest region in the occupational therapy market in 2023. The regions covered in the occupational therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the occupational therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Occupational therapy (OT) involves healthcare providers who focus on assisting individuals of all ages in participating in meaningful activities and daily routines that they want and need to do. Occupational therapists collaborate with people facing physical, cognitive, sensory, or emotional challenges that impact their ability to engage in everyday activities.
The primary products associated with occupational therapy are categorized as cloud-based and on-premises. Cloud-based refers to a computing model where resources such as servers, storage, databases, networking, software, and analytics are delivered over the Internet. Occupational therapy is utilized for the treatment of various diseases, encompassing both mental and physical disorders. It finds applications in various settings, including psychological disorders, hospitals, and other healthcare-related contexts.
The occupational therapy market research report is one of a series of new reports that provides occupational therapy market statistics, including occupational therapy industry global market size, regional shares, competitors with occupational therapy market share, detailed occupational therapy market segments, market trends, and opportunities, and any further data you may need to thrive in the occupational therapy industry. This occupational therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The occupational therapy market includes revenues earned by entities by providing individualized treatment plans, sensory integration, assessments, and evaluation services. 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.
This product will be delivered within 3-5 business days.
The occupational therapy market size is expected to see strong growth in the next few years. It will grow to $6.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The anticipated growth in the forecast period can be attributed to several factors, including the integration of telehealth services, a rising incidence of developmental disorders, personalized and client-centered approaches in occupational therapy, a heightened focus on mental health in the workplace, and the incorporation of research and evidence-based practices. Major trends expected in the forecast period include increased collaboration with other healthcare professions, advancements in rehabilitation technologies, addressing population aging and geriatric care, specialized pediatric occupational therapy services, and a focus on workplace ergonomics and wellness programs.
The increasing incidence of mental disorders is anticipated to drive the growth of the occupational therapy market in the future. Mental disorders, also referred to as psychiatric disorders or mental illnesses, are medical conditions affecting a person's thoughts, emotions, behavior, and overall mental well-being. Occupational therapy proves beneficial in treating and managing mental disorders by focusing on helping individuals with mental health challenges develop the necessary skills and strategies for leading meaningful and fulfilling lives. For example, data from March 2023, as reported by the National Center for Biotechnology Information, estimates that there were approximately 14.1 million adults aged 18 or older in the United States with serious mental illness (SMI). Additionally, in November 2022, as per the National Health Service, the proportion of people with a probable mental disorder, aged 17 to 19 years old, increased from 17.4% in 2021 to 25.7% in 2022. Therefore, the growing incidence of mental disorders is a key driver for the occupational therapy market.
An increase in spending on mental health is expected to contribute to the growth of the occupational therapy market in the near future. Spending on mental health involves allocating financial resources to provide mental health services, treatments, and support for individuals dealing with mental health issues. The level of spending on mental health significantly impacts occupational therapy by influencing the availability and quality of mental health services and support for individuals facing mental health challenges. For instance, a study by RAND Corporation in August 2023 reported that spending on mental health services increased by over 50% from March 2020 to August 2022, accompanied by a 39% increase in the use of mental health services. Therefore, the rise in spending on mental health is a driving factor for the growth of the occupational therapy market.
The lack of skilled healthcare personnel, including occupational therapists, is anticipated to impede the growth of the occupational therapy market. Skilled health personnel are proficient maternal and newborn health professionals who have received education, training, and adhere to national and international standards. This scarcity of skilled health personnel has resulted in staffing reductions, increased demand, workforce shortages, burnout, and challenges in delivering essential services. For example, in 2022, the Local Government Association in the UK reported an increase in the vacancy rate for occupational therapists from 7.1% in 2020 to 11.3% in 2022. Therefore, the insufficient availability of skilled healthcare personnel is hindering the growth of the occupational therapy market.
Major companies operating in the occupational therapy sector are focusing on developing technologies such as AI-powered physical rehabilitation solutions. These innovations leverage artificial intelligence to elevate and revolutionize the field of physical therapy and rehabilitation. For example, in February 2021, for instance, Fujitsu Limited, a Japan-based information and communications technology company, introduced HOPE ROMREC, an AI-driven physical rehabilitation solution. This solution utilizes rehabilitation videos to automatically measure and visualize a patient's shoulder and elbow angles. The Fujitsu image analysis AI engine employed in this technique comprises numerous picture recognition models, significantly enhancing the efficiency of visually measuring joint curvature. This process, typically performed by physical and occupational therapists, assists medical personnel in diagnosing patient conditions and evaluating the efficacy of therapies.
In January 2022, Rethink Autism Inc., a US-based behavioral health technology company, completed the acquisition of Total Therapy Inc. for an undisclosed amount. This strategic move by Rethink Autism Inc. aims to expand its offerings to better serve multi-disciplinary providers caring for patients with developmental disabilities in a rapidly growing market. Total Therapy, based in the US, is a software company providing high-quality therapy services, including occupational, physical, and speech therapy.
Major companies operating in the occupational therapy market report are Abbott Laboratories, STERIS Corporation, Getinge AB, Johns Hopkins Medicine International LLC, Premise Health Holding Corp., Cantel Medical Corporation, Midmark Corporation, Ergotron Inc., Performance Health Holdings Inc., Accord Medical Products Pvt. Ltd., A-Dec Inc., Drive DeVilbiss Healthcare, WebPT Inc., Net Health Systems Inc., Clinicient Inc., Dynasplint Systems Inc., AliMed, Optima Health Care Inc., Maddak Inc., Bio Med International Pvt. Ltd., Alliance Therapy Services, Rifton Equipment, BioSensics, ClinicSource, Divine Physiotherapy Equipments.
North America was the largest region in the occupational therapy market in 2023. The regions covered in the occupational therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the occupational therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Occupational therapy (OT) involves healthcare providers who focus on assisting individuals of all ages in participating in meaningful activities and daily routines that they want and need to do. Occupational therapists collaborate with people facing physical, cognitive, sensory, or emotional challenges that impact their ability to engage in everyday activities.
The primary products associated with occupational therapy are categorized as cloud-based and on-premises. Cloud-based refers to a computing model where resources such as servers, storage, databases, networking, software, and analytics are delivered over the Internet. Occupational therapy is utilized for the treatment of various diseases, encompassing both mental and physical disorders. It finds applications in various settings, including psychological disorders, hospitals, and other healthcare-related contexts.
The occupational therapy market research report is one of a series of new reports that provides occupational therapy market statistics, including occupational therapy industry global market size, regional shares, competitors with occupational therapy market share, detailed occupational therapy market segments, market trends, and opportunities, and any further data you may need to thrive in the occupational therapy industry. This occupational therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The occupational therapy market includes revenues earned by entities by providing individualized treatment plans, sensory integration, assessments, and evaluation services. 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.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Occupational Therapy Market Characteristics3. Occupational Therapy Market Trends and Strategies32. Global Occupational Therapy Market Competitive Benchmarking33. Global Occupational Therapy Market Competitive Dashboard34. Key Mergers and Acquisitions in the Occupational Therapy Market
4. Occupational Therapy Market - Macro Economic Scenario
5. Global Occupational Therapy Market Size and Growth
6. Occupational Therapy Market Segmentation
7. Occupational Therapy Market Regional and Country Analysis
8. Asia-Pacific Occupational Therapy Market
9. China Occupational Therapy Market
10. India Occupational Therapy Market
11. Japan Occupational Therapy Market
12. Australia Occupational Therapy Market
13. Indonesia Occupational Therapy Market
14. South Korea Occupational Therapy Market
15. Western Europe Occupational Therapy Market
16. UK Occupational Therapy Market
17. Germany Occupational Therapy Market
18. France Occupational Therapy Market
19. Italy Occupational Therapy Market
20. Spain Occupational Therapy Market
21. Eastern Europe Occupational Therapy Market
22. Russia Occupational Therapy Market
23. North America Occupational Therapy Market
24. USA Occupational Therapy Market
25. Canada Occupational Therapy Market
26. South America Occupational Therapy Market
27. Brazil Occupational Therapy Market
28. Middle East Occupational Therapy Market
29. Africa Occupational Therapy Market
30. Occupational Therapy Market Competitive Landscape and Company Profiles
31. Occupational Therapy Market Other Major and Innovative Companies
35. Occupational Therapy Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Occupational Therapy Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on occupational therapy market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
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- Benchmark performance against key competitors.
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- All data from the report will also be delivered in an excel dashboard format.
Description:
Where is the largest and fastest growing market for occupational therapy ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The occupational therapy market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Product: Cloud-Based; On-Premises2) By Disease: Mental Disorders; Physical Disorders
3) By Application: Psychological Disorders; Hospital; Other Applications
Key Companies Mentioned: Abbott Laboratories; STERIS Corporation; Getinge AB; Johns Hopkins Medicine International LLC; Premise Health Holding Corp.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Abbott Laboratories
- STERIS Corporation
- Getinge AB
- Johns Hopkins Medicine International LLC
- Premise Health Holding Corp.
- Cantel Medical Corporation
- Midmark Corporation
- Ergotron Inc.
- Performance Health Holdings Inc.
- Accord Medical Products Pvt. Ltd.
- A-Dec Inc.
- Drive DeVilbiss Healthcare
- WebPT Inc.
- Net Health Systems Inc.
- Clinicient Inc.
- Dynasplint Systems Inc.
- AliMed
- Optima Health Care Inc.
- Maddak Inc.
- Bio Med International Pvt. Ltd.
- Alliance Therapy Services
- Rifton Equipment
- BioSensics
- ClinicSource
- Divine Physiotherapy Equipments
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | March 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 5.26 Billion |
| Forecasted Market Value ( USD | $ 6.58 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 25 |
