IBISWorld Industry’s report offers good news to anyone wanting to embark on a career in physical therapy.
There’s good news for students who are interested in joining the world of physical therapy in Canada: the industry is facing continued good health, and revenue is expected to rise. According to a recently-released IBISWorld Industry report, industry revenue in the past five years has grown at an average annual rate of 4.1% to $1.3 billion, including a 6.1% jump in 2013.
Baby boomers play a large part in the growth of the physical therapy industry, as more and more older Canadians turn to physical therapists to improve their overall health and fitness, and to treat injuries.
“Older adults are more likely to require industry services as a result of injuries and illnesses due to greater physical vulnerability; for example, the elderly are more likely to break bones in falls,” says IBIS World Industry analyst Anna Son.
A shortage of qualified physical therapists is foreseen in the next five years, with the demand increasing well past the five year mark, as more practitioners retire and physiotherapy a bigger part of general geriatric care. A continued rise in revenue is expected to accompany that demand.
“Rising consumer confidence along with economic recovery and the aging population will underpin industry growth,” says Son.
Another contributing factor to revenue growth is the level of education attained by today’s physiotherapists. Many hold Master’s degrees and that, combined with specializations within physical therapy, has caused wages to increase at a rapid rate over the past five years.
If you’re interested in becoming a physical therapist or physical therapist assistant, these are just some of the schools that offer related programs: