Incorporation of Cloud Computing and Advanced Technology in Healthcare IT Application to Drive the Physical Therapy Software Market Growth

Introduction

Globally, the demand for healthcare IT applications has been witnessing a significant surge due to its efficiency, easy accessibility, reduced errors, enhanced analysis, better customer service, and accuracy. The application is witnessing huge demand among the geriatric population to keep a record of their health and fitness, further driving the market growth. In North America and Europe, the application is extensively used in outpatients, physical, occupational, and speech therapy clinics. Additionally, the incorporation of cloud computing and advanced technology in such apps is driving its adoption across the globe. However, privacy and security hazards and misinterpretation might hamper the market growth to some extent.

Key Highlights

• The booming healthcare IT market drives the physical therapy software market
• Shifting customer preference for online therapy due to lockdown to drive market growth.
• The health IT dashboard developed by the government of the U.S. has witnessed a two-fold growth since the implementation of EHR in 2008.
• North America dominates the physical therapy software market due to the higher adaptability rate of technology, government initiatives, and increasing sports injuries.
• The Asia-Pacific region is projected to witness significant growth in the physical therapy software market on account of increasing government initiatives, rising patients of osteoporosis, and the high geriatric population.

Competitive Players

1. MPN Software Systems (the U.S.)
2. PT Practice Pro (the U.S.)
3. TherapySync (the U.S.)
4. Optima Healthcare Solutions (the U.S.)
5. Meditab Software (the U.S.)
6. Yocale (Canada)
7. Systems4PT (the U.S.)
8. Net Health (the U.S.)
9. Phydeo (Canada)
10. GoMotive (the U.S.)
11. My Rehab Pro (the U.S.)
12. OptimisCorp (the U.S.)

Recent Developments

Recent Developments

• In August 2019, PT Practice Pro collaborated with Kno2 to connect with occupational therapy practices and deliver interoperability.
• In June 2014, Net Health acquired The Rehab Documentation Company. The latter company is one of the leaders in physical, occupational, and speech therapy software.
• In February, 2020, Net Health launched a Private Practice Solution that works on the companies xfit platform that will aid the clinics that are trying to scale their operations for complex processes.
• In April 2013, Meditab offered its cloud-based solutions to the Allergy EHRShot lab thus transforming the paer based management to an electronic format.
• According to the Health IT Dashboard, U.S. Government, in 2008, only 42% of the office-based physicians used the EHR while in 2017 85.9% of the physicians used the EHR thus observing a two-fold rise is noticed in the EHR adoption rate.

Segmentation

1. By Deployment Type
   1. On-premise
   2. Cloud-based
2. By Application
   1. Hospital
   2. Specialty clinic
3. By Interface
   1. Desktop & Laptop
   2. Mobile & Tablet