Speech Therapy Services Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Global speech therapy services market size is expected to $12.94 Bn by 2028 at a rate of 7.2%, segmented as by therapy type, articulation therapy, language intervention therapy, oral motor therapy, other therapy types

Jun 25, 2024 - 15:01

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Speech Therapy Services Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Speech therapy services refer to the clinical practice of diagnosing and treating communication and swallowing disorders through targeted interventions and therapeutic techniques. These services are aimed at enhancing communication skills, promoting independence, and improving the quality of life for individuals with communication disorders.

Sizing and Forecast
The speech therapy services market size has grown strongly in recent years. It will grow from $9.15 billion in 2023 to $9.78 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to growing awareness of speech and language disorders, the rise in the incidence of congenital disorders, changed demographics, and increased screening for speech and hearing impairment.

The speech therapy services market size is expected to see strong growth in the next few years. It will grow to $12.94 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to teletherapy expansion, integration of AI and digital tools, focus on early intervention, globalization of services, and demand from aging populations. Major trends in the forecast period include mobile applications for therapy support, personalized treatment approaches, virtual reality integration, remote monitoring and data analytics, and interdisciplinary collaboration.

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Segmentation & Regional Insights
The speech therapy services market covered in this report is segmented –

1) By Therapy Type: Articulation Therapy, Language Intervention Therapy, Oral Motor Therapy, Other Therapy Types
2) By Indication: Speech Disorder, Language Disorder, Apraxia, Autism Spectrum Disorder (ASD), Other Types
3) By Application: Pediatrics, Adults, Elderly
4) By End-Use: Hospitals and Clinics, Rehabilitation Centers, Homecare Settings

North America was the largest region in the speech therapy services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the speech therapy services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increasing incidence of communication disorders is expected to propel the speech therapy services market going forward. Communication disorders refer to difficulties in speech, language, voice, fluency, and swallowing that affect an individual's ability to communicate effectively. The increasing incidence of communication disorders can be attributed to neurological disorders due to damage to the brain's speech and language centers. Speech therapy services are essential for diagnosing and treating various communication disorders, such as dysphagia, aphasia, and voice disorders, through specialized interventions and techniques. For instance, in March 2024, according to the National Institute on Deafness and Other Communication Disorders (NIDCD), a US-based government agency, developmental language disorder had a prevalence of 7%, or approximately 1 in 14 children. Approximately 2% of children with a language disorder also have an existing medical condition, such as autism or an intellectual disability. 5% of U.S. children ages 3–17 have a speech disorder that lasted for a week or longer during the past 12 months. Therefore, the increasing incidence of communication disorders is driving the growth of the speech therapy services market.

Key Industry Players
Major companies operating in the speech therapy services market report are Children's Hospital of Eastern Ontario ; Reliant Rehabilitation Holdings Inc.; Tender Touch Rehab Services Inc.; Reliant Medical Group; The Speech Pathology Group; Linguarama International Group; Therapy Solutions LLC; Speech Language and Educational Associates; Benchmark Therapies Inc.; Reliant Pediatric Therapy Services PC; Expressable Inc.; Humanus Corporation; Vertis Therapy; Achieve Therapy Inc.; Therapy Tree AZ; TherapyWorks Inc.; John McGivney Children's Centre; Speech Therapy Group; Comprehensive Speech and Therapy Center; CST Academy; Speechpathway.net; Glenda Browne Speech Pathology Pty Ltd; TalkTime Speech Therapy LLC; Speech INC.; Rhind Speech Therapy

The speech therapy services market report table of contents includes:

1. Executive Summary
2. Speech Therapy Services Market Characteristics
3. Speech Therapy Services Market Trends And Strategies
4. Speech Therapy Services Market - Macro Economic Scenario
5. Global Speech Therapy Services Market Size and Growth
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31. Global Speech Therapy Services Market Competitive Benchmarking
32. Global Speech Therapy Services Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Speech Therapy Services Market
34. Speech Therapy Services Market Future Outlook and Potential Analysis
35. Appendix