The Speech therapy Market is estimated to be valued at US$ 4.35 Bn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2021-2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Speech therapy provides treatment for communication and swallowing disorders using various techniques and strategies. It helps people with speech disorders to communicate more effectively by improving articulation, fluency, voice, resonance, and language skills. Therapy helps improve the efficiency of swallowing among patients with swallowing disorders and reduces the risk of choking and aspiration.
Market key trends:
One of the major trends driving the growth of this market is the increasing prevalence of speech and language disorders. According to the American Speech-Language-Hearing Association, around 7 million people in the U.S suffer from speech, language, and communication disorders. These include difficulties in areas such as fluency, voice, resonance, articulation, language skills, etc. which can have a significant impact on daily life if left untreated. The increasing awareness about available treatment options and their effectiveness is prompting more people to opt for speech therapy.
Segment Analysis
The U.S. speech therapy market is segmented by type into pediatric speech therapy and adult speech therapy. The pediatric speech therapy segment dominated the market in 2021 and is expected to continue its dominance over the forecast period. This is due to the rising prevalence of speech disorders among children such as stuttering, articulation disorders, and language delay. Pediatric speech therapy helps children in developing communication and speech skills which is important for childhood development.
Key Takeaways
The U.S. Speech Therapy Market is expected to witness high growth, exhibiting a CAGR of 5.4% over the forecast period 2021-2028, due to the increasing prevalence of speech disorders in the country.
- Market size: The U.S. speech therapy market size was valued at US$ 4.35 Bn in 2021 and is expected to reach US$ 6.53 Bn by 2028.
- Regional analysis: The Southern region dominated the U.S. speech therapy market in 2021 owing to higher healthcare expenditure and growing geriatric population. It is expected to continue its dominance during the forecast period.
- Key players: Key players operating in the U.S. speech therapy market are Genesis Rehab Services, Speech Therapy Solutions, Inc., Reliant Rehabilitation, Kindred Healthcare, LLC, Smart Speech Therapy LLC, BenchMark Physical Therapy Institute, Rehabilitation Associates, Inc., Easy Speech Therapy Center, LA Speech Therapy Solutions, LLC, Teamwork Therapies, and The Hello Foundation.
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