2024-2033 Occupational Therapy Market Forecast: Predicted Growth Rate and Market Size
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What is the Expected Growth Rate of the Occupational Therapy Market from 2024 to 2033?
The occupational therapy market has grown strongly, projected to grow from $4.94 billion in 2023 to $5.26 billion in 2024, growing at a CAGR of 6.5%. The growth is attributed to the aging population, the prevalence of chronic conditions, increasing awareness of mental health, occupational health and safety regulations, and the expanding scope of occupational therapy practices.
The occupational therapy market is expected to grow to $6.58 billion by 2028, with a CAGR of 5.8%. Growth drivers include telehealth services, developmental disorders, mental health focus in the workplace, and evidence-based practices. Trends include collaboration with other healthcare fields, rehabilitation technologies, aging population care, and wellness programs.
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What Key Factors Are Fueling the Growth of the Occupational Therapy Market?
The increasing prevalence of mental disorders is expected to propel the growth of the occupational therapy market. Mental disorders affect an individual’s thoughts, emotions, and behavior, and occupational therapy helps individuals manage these conditions by developing skills to lead fulfilling lives. For instance, in 2023, 14.1 million adults in the U.S. had serious mental illness (SMI), and the proportion of people aged 17-19 with probable mental disorders increased from 17.4% in 2021 to 25.7% in 2022. The rising incidence of mental disorders is therefore contributing to the growth of the occupational therapy market.
What Are the Major Segments of the Occupational Therapy Market?
1) By Product: Cloud-Based, On-Premises
2) By Disease: Mental Disorders, Physical Disorders
3) By Application: Psychological Disorders, Hospital, Other Applications
What New Trends Are Transforming the Occupational Therapy Market?
Companies in the occupational therapy market are focusing on AI-powered physical rehabilitation solutions to gain a competitive advantage. These solutions use artificial intelligence to transform physical therapy and rehabilitation processes. For instance, in February 2021, Fujitsu Limited, a Japan-based information and communications technology company, introduced HOPE ROMREC, an AI-driven rehabilitation solution that uses video to automatically measure and visualize shoulder and elbow angles. This technology enhances the efficiency of joint curvature measurement, a task traditionally performed by therapists, assisting in diagnosing and evaluating therapy effectiveness.
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Which Regions Are Driving Growth in the Occupational Therapy Market?
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 Occupational Therapy Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the occupational therapy market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Occupational Therapy Market Include
1. Occupational Therapy Market Executive Summary
2. Occupational Therapy Market Segments
3. Occupational Therapy Market Size And Template Market Growth Rate
4. Key Occupational Therapy Market Trends
5. Major Occupational Therapy Market Drivers
……
25. Key Mergers And Acquisitions In The Occupational Therapy Market
26. Top Occupational Therapy Companies
27. Occupational Therapy Market Opportunities And Strategies
28. Occupational Therapy Market, Conclusions And Recommendations
29. Appendix
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