The global Physical Therapy Software Market is expected to attain significant revenue by 2022. The digitization of data and records of patients is projected to encourage the adoption of physical therapy (PT) software. Physical therapy or physiotherapy software is designed for clinicians or physicians to maintain records of their patients. Benefits such as automation of tasks, faster sharing of records, schedule management, and decision making are likely to augment market over the forecast period (2012 to 2022).
The physical therapy software market is projected to exhibit a healthy CAGR from 2012 to 2022 driven by the emergence of physiotherapy clinics. The growing geriatric populace and need for palliative care are expected to further impel the demand for physical therapy software. Popularity of sports and rise in sports injuries can play a major role in influencing market growth during the forecast period. In addition, incentives by governments to medical offices for switching to electronic health records (EHR) are expected to bolster market expansion.
Emergence of telerehabilitation and mobile health (mHealth) platforms has made physical therapy software a quintessential product in large clinics. The transition towards technology-intensive practices by clinics can open up new business avenues for the market. Smartphone applications are also assisting patients in keeping appointments and improve patient care levels. In February 2017, Physitrack, a UK-based company received an upsurge in users due to its partnership with drchrono, a U.S. company. All registered providers of the latter will attain access to the former’s exercise videos through their respective EHR account.
The physical therapy software market is fragmented by application and region. By application, the market is bifurcated into mobile and PC terminals. Regions covered in the market report include Southeast Asia, India, China, Japan, United States (U.S.), and European Union (EU). The U.S. market is anticipated to exhibit robust growth during the forecast period due to an upsurge in numbers of physiotherapists and PT clinics. Popularity of wearables is expected to minimize costs and provide a feasible solution for remote rehabilitation. In addition, the legalization of telehealth licenses which allows doctors to practice in member states can bode well for the market.
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The EU physical therapy software market is anticipated to expand due to developments in physiotherapy treatments and adoption of technology to expedite laborious processes such as appointment scheduling and billing. In addition, healthcare providers are offering virtual therapy sessions to provide patients with convenient and cost-effective therpy. In March 2017, UK-based IPRS Health has launched their own channel on Physitrack in collaboration with QBE Insurance Group Limited. Thus, customers can enjoy application-based physical therapy sessions and utilize their resources effectively and save time through telecommuting. Physicians can use the platform to create customized exercise sessions for individual patient needs and can provide telehealth services.
The Japan and China markets for physical therapy software are projected to exhibit a steady CAGR during the forecast period. Rising incidence of injuries due to accidents and growing geriatric populace are the primary regional drivers. Introduction of Cloud-based EHR systems owing to their extended storage capacity and faster processing capabilities can augment adoption rates of physical therapy software in near future.
Key players operating in the global physical therapy software market include Optima Healthcare Solutions; MPN Software Systems, Inc.; TherapySync; Yocale; and Net Health. Mergers and acquisitions (M&A) is the key business strategy adopted by many companies to increase their market share. For instance, Net Health, a U.S. company acquired The Rehab Documentation Company (ReDoc) to enhance their offerings in the outpatient management solution portfolio.
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Market segment by Regions/Countries, this report covers
• United States
• Southeast Asia
Market segment by Application, Physical Therapy Software can be split into
• PC Terminal
• Mobile Terminal
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