Dublin, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The "Physical Therapy Software Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global market for physical therapy software is projected to witness significant growth, with estimations soaring from $22.84 billion in 2022 to $24.66 billion in 2023, reflecting a robust compound annual growth rate (CAGR) of 7.9%.
Geopolitical tensions arising from the Russia-Ukraine conflict have momentarily disrupted the prospects of worldwide economic recovery post the COVID-19 pandemic. The ongoing war between these nations has triggered economic sanctions, instigated commodity price surges, and resulted in disruptions across supply chains, thus causing inflation across diverse sectors and reverberating through global markets.
Nevertheless, the physical therapy software market is poised for remarkable expansion, with a projected valuation of $32.13 billion by 2027, underpinned by a CAGR of 6.8%.
Unveiling Comprehensive Market Insights
The research report on the physical therapy software market is a pivotal addition to a comprehensive series of reports. This compilation offers a wide-ranging array of statistics concerning the global market size, regional distributions, competitive landscape, detailed market segments, emerging trends, potential opportunities, and vital data essential for thriving within the physical therapy software industry. By delving into an in-depth analysis of both current and future industry scenarios, this report offers a panoramic view of the sector.
Rising Trend: Integration of Artificial Intelligence (AI)
An emerging trend gaining traction within the physical therapy software market is the incorporation of artificial intelligence (AI) to predict clinical outcomes based on electronic health record (EHR) data. AI entails the capacity of computers to perform tasks that typically necessitate human intelligence and judgment. In the realm of physical therapy software, AI is harnessed to analyze, interpret, and present intricate medical and healthcare information in a manner that simulates human behavior.
A prime example of this trend is Fujitsu, a prominent Japan-based information and communications technology equipment and services corporation, which unveiled the AI-powered physical rehabilitation solution "HOPE ROMREC" in February 2021. This breakthrough AI technique automatically quantifies the range of motion for shoulder and elbow joints based on video recordings of patients' rehabilitation sessions. By seamlessly integrating this data with electronic medical record systems, therapists can efficiently and promptly record measurement data without the need for manual note-taking, significantly streamlining the process.
Market Dynamics and Global Reach
North America took the lead as the largest region in the physical therapy software market in 2022, with the Asia-Pacific region projected to witness the fastest growth in the forecast period. The report comprehensively covers a range of regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Additionally, the report provides a comprehensive analysis of the physical therapy software landscape in key countries such as Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Driving Force: Osteoporosis Prevalence
The escalating prevalence of osteoporosis is anticipated to propel the expansion of the physical therapy software market. Osteoporosis, a condition characterized by reduced bone mineral density and mass, as well as alterations in bone quality or structure, often results from low calcium intake. Physical therapy software plays a pivotal role in offering patients valuable information on treatment plans, claims, invoices, and home exercise recommendations throughout their clinical journey.
Statistics published by US-based biotechnology company Amgen in May 2022 underscore the significance of this trend. The data reveals that osteoporosis contributes to approximately 1.5 million fractures annually in the United States, incurring associated costs of $19 billion. Moreover, the projected rise in annual fractures by 68% from 2018 to 2040 emphasizes the growing impact of osteoporosis. This prevalence is set to drive the demand for physical therapy software solutions.
Report Overview
"Physical Therapy Software Global Market Report 2023" serves as an essential resource for strategists, marketers, and senior management, offering crucial insights into market trends, impacts, and data-driven decisions. This report empowers stakeholders to devise effective strategies and maintain an advantageous position within an evolving market landscape.
The report encompasses an array of geographies, comprehensively covering more than 50 regions. It provides a holistic understanding of the market's response to the COVID-19 pandemic and evaluates the impact of geopolitical conflicts such as the Russia-Ukraine war. Additionally, the report assesses the interplay between high global inflation and market growth, facilitating the creation of tailored regional and country strategies based on localized data and analysis.
With an emphasis on identifying growth segments for investment and leveraging forecast data, the report enables stakeholders to outperform competitors by aligning strategies with prevailing market drivers and trends. Insights into customer behavior through the latest market shares and performance benchmarking against key competitors further enhance the value of this report. Whether for internal or external presentations, the reliable high-quality data and analysis provided offer comprehensive support.
A selection of companies mentioned in this report includes
- MPN Software Systems Inc
- Practice Pro
- TherapySync
- Optima Healthcare Solutions LLC
- Meditab Software Pvt Ltd
- Systems4PT
- Net Health
- Phydeo
- OptimisCorp
- My Rehab Pro
- Yocale
- WebPT
- Bioex Systems Inc
- Warburg Pincus LLC
- DrChrono Inc
- ClinicSource
- NXGN Management LLC
- MICA Information Systems Inc
- Healigo
- Practice Fusion Inc
For more information about this report visit https://www.researchandmarkets.com/r/khphcu
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