GVR Report cover Physical Therapy Software Market Size, Share & Trends Report

Physical Therapy Software Market Size, Share & Trends Analysis Report By Interface (Desktop And Laptop, Mobile And Tablet), By Delivery Mode (Server-based, Cloud-based), By End-use, By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68039-970-4
  • Number of Pages: 150
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2020
  • Industry: Healthcare

Report Overview

The global physical therapy software market size was valued at USD 1.09 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.1% throughout the forecast period. Rising investments in the healthcare sector and integration of practice management with other health IT solutions are the factors expected to drive market growth. Benefits associated with physical therapy software such as generating less paperwork, reducing billing errors, and other benefits further support the market growth. Advancements in technology have altered the healthcare sector during the last few years; for example, the software deployment modes integration with in-built tools supports dealing with patient data. As per the ‘Administrative Errors: Technical Series on Safer Primary Care’ report published by the World Health Organization, estimates are that 5.0% to 50.0% of all medical errors in primary care are administrative mistakes. This further increases the necessity for physical therapy software.

U.S. physical therapy software market size, by interface, 2020 - 2030 (USD Million)

The COVID-19 crisis has overburdened public health systems in many nations and emphasized the strong requirement for sustainable investment in health systems. COVID-19 forced nearly everyone to work remotely. Globally, existing communications and operations, along with numerous regional infrastructures, were transformed. Effective standardization of the functions and correct data management became even more important to the successful delivery of care across populations.

Thus, healthcare organizations are investing in software solutions to tackle the challenges of managing repetitive tasks and follow-ups, and becoming compliant with the healthcare guidelines. Besides, market players also enhanced their offerings to aid market growth. For instance, Practice Pro which provides physical therapy EMR software solutions for Adult and Pediatric Practices started to offer its COVID-19 toolkit.

Operational efficiency, interface ability, integrated billing, and time-saving are some of the key drivers of the increasing demand for these kinds of software in the market. Billing software programs are also equipped with other innovative features that permit physical therapists to access significant patient information and enable appropriate storage and retrieval of patient records. This kind of automation safeguards patient records. These are updated and can produce suitable invoices.

Thus, benefits the adoption of such software. Changing dynamics of the hospital industry are expected to involve centralization and digitalization of back-end processes, thereby boosting demand for the implementation of software systems, which in turn is anticipated to positively impact the market growth.

Physical therapists have the authority to prescribe medication in some countries, such as the UK. Systems 4PT is a software solution that helps professionals to perform assessments, including family history, patient questions, drug prescription, need for qualified therapy, job status, and others. This supports the overall market growth.

Physical therapists successfully incorporate apps, virtual reality, and other technologies into their treatments presenting their new proficiencies and delivering patients with new opportunities. In February 2021, Alliance Physical Therapy partners introduced Outpatient Therapy EMR Software. Agile EMR can bring together all the essential elements of compliance, documentation, billing, and care coordination into one complete platform.

Furthermore, increasing healthcare expenditure and high digital literacy rates are expected to enhance the possibility of more usage of software solutions in the coming years. Furthermore, various initiatives are being undertaken by the government and private organizations to enhance healthcare facilities, which are expected to boost the market. For instance, in Germany, physiotherapists were encouraged to join the national EHR infrastructure, which was started in July 2021. Any costs associated with the shift to EHRs will be reimbursed.

The healthcare system is constantly facing challenges in providing quality care. They are in the process of integrating workflows for managing tedious documentation, as well as facilitating easy access to a patient’s clinical data, in all their departments. For instance, in April 2022, Netsmart publicized the addition of Thera Office, an industry-leading practice management stage for physical therapy and rehabilitation practices, to the Netsmart portfolio. This addition increases the Netsmart CareFabric platform to deliver workflows for the therapist to better connect with all healthcare locations.

Interface Insights

The mobile and tablet segment held the largest revenue share of above 58% in 2021. A software in mobile health app makes all the procedures in a hospital smoother to add value to the patients. There are many healthcare settings in the market that have already started using a custom-made mobile app for themselves. Mobile devices are quickly outpacing the usage of desktops and laptops. Besides, the usage of tablets and mobiles is on the rise in hospitals and clinics as well. This gives health care providers a portable device they can take during consultations and home appointments, which supports market growth.

The desktop and laptop segment of management software is proposed to be used at a single location by one or more associates of a medical office’s staff accessing a single computer. Nowadays, cloud and mobile extensions to this management software option have transformed this approach by offering the flexibility of remote functionality through mobile devices. IMS from 1st Provider's Choice is for Physical Therapy, which is intended to be used on iPads, iPhones, Windows-based tablets, Android devices, and other handheld devices, as well as laptops and desktop computers.

Deployment Mode Insights

The cloud-based segment is estimated to account for the largest market share and witnessed lucrative growth due to the growing adoption and rising popularity of cloud-based healthcare services. Cloud-based systems are more cost-effective to deploy than server-based systems, and this software abolishes the requirement for in-house maintenance, which is likely to be the primary factor driving their popularity.

Besides, cloud deployment provides greater flexibility, which in turn promotes market growth. For instance, Bellarmine University provisions students in obtaining real-world EMR experience with Web PT’s cloud-based software.

Server-based systems are stored on location at the practice. These solutions are still widespread, but that’s altering due to their associated drawbacks, such as high procurement price and overall cost of maintenance, which include annual software updates and network maintenance.

End-Use Insights

The hospitals segment held the largest share of the market in 2021 and is anticipated to continue leading the market during the forecast period. Hospitals are a vital part of the healthcare industry and are the main revenue source for the entire sector, which drives research and innovation. Consequently, numerous corporations are making significant efforts, both in terms of revenue & marketing strategies, to endorse their interface/services in hospitals. Hospitals are the prime point of care for all kinds of health problems, owing to which the segment is anticipated to hold the largest share in the global market.

Global physical therapy software market share, by end-use, 2021 (%)

The others segment is expected to witness the fastest growth during the forecast period. The segment is inclusive of sports & fitness centers, nursing homes, home health care services, and rehabilitation facilities. According to the American Academy of Physical Therapy, physical therapists typically work in private offices, clinics, hospitals, and nursing homes, such as hospitals (state, local, and private) (28%), at-home health care services (11.0%), nursing and residential care facilities (7%), and physician offices (5%).

Regional Insights

North America accounted for the largest revenue share in 2021 owing to high awareness levels and improved healthcare infrastructure. Besides, superior adoption of innovative technologies and greater investments in the healthcare area drives the market growth in this region. Moreover, the healthcare sector is one of the largest industrial verticals in the U.S. This further propels the market growth of this region. Presence of established market players and initiatives taken by them further propel regional development, which in turn, supports market growth.

Physical Therapy Software Market Trends by Region

The Asia Pacific market is presumed to witness the fastest growth owing to the rising healthcare infrastructure. Physiotherapy and rehabilitative services go beyond prescriptions for acute circumstances. Geriatric population growth in the region further propels regional demand. There are many chronic conditions that call for a long-term plan to help in the prevention and correction of these conditions. For instance, iFour Techno Lab Pvt. Ltd. offers +Physio which is a comprehensive and reliable physical therapy software. The firm is based in Gujarat, India.

Key Companies & Market Share Insights

The key players are involved in various strategies such as new interface developments, distribution agreements, and expansion strategies to improve their market penetration. For instance, in January 2022, WebPT acquired Clinicient and its subsidiary Keet. The acquisition offers further scale and industry expertise to WebPT. Such factors are likely to maintain the intensity of rivalry in the market at a high level.

Likewise, in May 2021, WRS Health announced that it is expanding its footprint with the accessibility of Physical Therapy-Cloud. Physical Therapy-Cloud is an EHR that permits Physical Therapists to improve their workflows profitably and efficiently. WRS Health is a qualified and award-winning web-based provider of entirely integrated EHR and Practice Management software solutions for medical specialties. Some of the prominent players in the global physical therapy software market include:

  • Practice Fusion, Inc.

  • WebPT

  • Systems 4PT

  • Axxess

  • DrChrono Inc.

  • Power Diary Pty Ltd.

  • BioEx Systems

  • Meditab

  • OptimisCorp

  • Systems 4PT

  • MICA Information Systems, Inc.

  • Cerner (Oracle)

  • Kareo, Inc.

  • NXGN Management, LLC

Physical Therapy Software Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 1.16 billion

Revenue forecast in 2030

USD 2.52 billion

Growth rate

CAGR of 10.1% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million, CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, trends

Segments covered

Interface, deployment mode, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; Germany; U.K.; France; Italy; Spain; Japan; India; China; Australia; Brazil; Mexico, South Africa; Saudi Arabia

Key companies profiled

Practice Fusion, Inc.; WebPT; Systems 4PT; Axxess; DrChrono Inc.; Power Diary Pty Ltd.; BioEx Systems; Meditab; OptimisCorp; Systems 4PT; MICA Information Systems, Inc.; Cerner (Oracle); Kareo, Inc.; NXGN Management, LLC

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Physical Therapy Software Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global physical therapy software market report based on the interface, deployment mode, end-use, and region:

Global Physical Therapy Softwareg Market Segmentation

  • Interface Outlook (Revenue, USD Million, 2017 - 2030)

    • Desktop & Laptop

    • Mobile & Tablet

  • Deployment Mode Outlook (Revenue, USD Million, 2017 - 2030)

    • Server-Based

    • Cloud-Based

  • End-Use Outlook (Revenue, USD Million, 2017 - 2030)

    • Clinics

    • Hospital

    • Others

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

    • Latin America

      • Brazil

      • Mexico

    • Middle East and Africa

      • South Africa

      • Saudi Arabia

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