Speech therapy aims to treat speech disorders and help people improve their communication and swallowing abilities. It involves tasks, exercises, and techniques to help treat conditions like stuttering, phonological disorders, apraxia, auditory processing disorders and other speech sound disorders. The global U.S. SPEECH THERAPY Market is estimated to be valued at US$ 4.83 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends
The increasing prevalence of speech disorders in the U.S. is one of the major factors driving the growth of the U.S. speech therapy market. As per recent estimates, around 1 in 12 American children experience a language or speech disorder. Conditions like autism spectrum disorders, cleft palate or cerebral palsy often require speech therapy. Also, accidents, strokes or neurological conditions can cause speech impairments in adults. Early intervention and ongoing speech therapy helps the affected individuals improve their communication skills. The speech therapy market is expected to witness robust growth over the forecast period due to the rising awareness about the effectiveness of speech therapy and availability of personalized treatments.
Segment Analysis
The U.S. speech therapy market size is dominated by the adults segment. This segment accounts for nearly 55% share of the overall market owing to the high prevalence of speech disorders among aged population such as stroke, Parkinson's disease, and dementia. The pediatric segment is the fastest growing segment and is expected to witness a CAGR of 8.2% during the forecast period. Rising cases of autism spectrum disorder and developmental delays among children are driving the growth of this segment.
Key Takeaways
The Western region accounts for the major share in the U.S. speech therapy market owing to high awareness regarding speech disorders and availability of advanced healthcare facilities. The presence of key players and developed healthcare infrastructure has resulted in greater adoption of speech therapy services in this region.
Regional analysis: The Western region holds dominating share of around 40% in the overall U.S. speech therapy market and is expected to witness a CAGR of 7.9% during the forecast period. States like California, Washington and Oregon have higher prevalence of speech disorders and advanced reimbursement schemes for speech therapy which is supporting the growth of this market in the Western region.
Key players operating in the U.S. speech therapy market are Exxon Mobil Corporation, Total S.A., Royal Dutch Shell plc, Isu Exachem, Mehta Petro Refineries, Avani Petrocehm Pvt Ltd., Raj Petro Specialties P. Ltd., and Eastern Petroleum Private Limited. Exxon Mobil Corporation holds leading share of around 17% in the U.S. market owing to its wide service offerings and geographic presence across major cities.
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