DUBLIN, Feb. 24, 2023 /PRNewswire/ — The “Vocational Rehabilitation Services Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
The global vocational rehabilitation services market will grow from $4.94 billion in 2022 to $5.22 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The vocational rehabilitation services market is expected to grow to $6.32 billion in 2027 at a CAGR of 4.9%.
The vocational rehabilitation services market consists of revenues earned by entities by career assessment and evaluation, training, general skill improvement, refresher courses, on-the-job training, career counseling, job searches, and consultation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Vocational rehabilitation is a set of services intended to make it easier for people with disabilities or for those who have recently sustained an injury or a handicap to enter the workforce or return to it. Additionally, these services could change according on the needs of the person.
Western Europe was the largest region in the vocational rehabilitation services market in 2022. Asia Pacific was the second-largest region in the vocational rehabilitation services market. The regions covered in the vocational rehabilitation services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of vocational rehabilitation services are counseling and guidance, job search and placement assistance, vocational and other training services, evaluation of physical and mental impairments, on-the-job or personal assistance services, interpreter services, occupational licenses, and technical assistance for self-employment, supported employment services and others. Occupational licensing is a type of government regulation that requires a license to pursue a specific profession or vocation for a fee. The services are provided for physical, mental, and disabilities that occurred during the job. The various care settings include in-patient and out-patient services.
An increase in the number of companies expressing interest in hiring individuals with disabilities is expected to drive the vocational rehabilitation services market. There is a rise in companies recruiting people with disabilities for empowering them and also provide them with a source of income opportunity, which in turn benefits the company with loyal employees and a diverse workplace. According to the Bureau of Labor Statistics, 17.9% of individuals with a disability were employed in 2020.
Similarly, in 2020, UnitedHealth Group with the Inclusion and Diversity Center of Excellence launched Disability Inclusion Internship Program. This collaboration with disability workforce development agencies and non-profit community partners was aimed at creating a career development program that would be opened to anyone with a disability seeking corporate experience in an inclusive environment.
This program takes place over the course of 12 to 15 weeks in a cohort setting during flexible full or part-time hours. During their internships, interns explore careers in the healthcare industry and receive hands-on training and mentoring to prepare for UnitedHealth Group corporate roles. The program offers participants opportunities to transition into part or full-time employment after completing the program.
The shortage of skilled workers in vocational rehabilitation (VR) centers is expected to hinder the vocational rehabilitation services market. Proficient workers are needed for training people with disabilities as they require more intense and structured training than people without disabilities.
According to the Council of State Governments, several state VR agencies are unable to provide services to all eligible applicants due to financial constraints and have adopted an ‘Order of Selection’ to determine who receives services first. Furthermore, according to WHO (World Health Organization), in November 2021, stated that over 50% of people in low and middle-income countries do not receive rehabilitation services.
According to the Bureau of Labor Statistics, the shortage of qualified rehabilitation counselors is anticipated to grow by 20% by the end of 2022. This shortage of skilled counselors causes a demand-supply gap, impedes the learning experience of disabled people, and thereby, hampers the market growth.
The countries covered in the vocational rehabilitation services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
A selection of companies mentioned in this report includes
- Rehabilitation Services Administration (RSA)
- Vocational Rehabilitation and Employment (VR&E)
- illuminate VR Services Ltd.
- Vocational Rehabilitation Association (VRA)
- Easterseals Arc
- RISE Inc.
- Vocational rehabilitation of the handicapped person
- Georgia Vocational Rehabilitation Agency
- New York State Education Department, Adult Career and Continuing Education Services – Vocational Rehabilitation
Key Topics Covered:
1. Executive Summary
2. Vocational Rehabilitation Services Market Characteristics
3. Vocational Rehabilitation Services Market Trends And Strategies
4. Vocational Rehabilitation Services Market – Macro Economic Scenario
4.1 COVID-19 Impact On Vocational Rehabilitation Services Market
4.2 Ukraine-Russia War Impact On Vocational Rehabilitation Services Market
4.3 Impact Of High Inflation On Vocational Rehabilitation Services Market
5. Vocational Rehabilitation Services Market Size And Growth
5.1. Global Vocational Rehabilitation Services Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Vocational Rehabilitation Services Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Vocational Rehabilitation Services Market Segmentation
6.1. Global Vocational Rehabilitation Services Market, Segmentation By Service, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Counselling And Guidance
- Job Search And Placement Assistance
- Vocational And Other Training Services
- Evaluation Of Physical And Mental Impairments
- On-The-Job Or Personal Assistance Services
- Interpreter Services
- Occupational Licenses
- Technical Assistance For Self-Employment
- Supported Employment Services
- Other Services
6.2. Global Vocational Rehabilitation Services Market, Segmentation By Disability, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Disability Occurred During Job
6.3. Global Vocational Rehabilitation Services Market, Segmentation By Care Settings, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7. Vocational Rehabilitation Services Market Regional And Country Analysis
7.1. Global Vocational Rehabilitation Services Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Vocational Rehabilitation Services Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/1m7lwa
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