Speech Therapy Market to Surpass $17 Billion by 2031; Driven by Rising Prevalence of Speech and Neurological Disorders

The speech therapy market size was valued at $9.9 billion in 2021, and is estimated to reach $17 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.

WILMINGTON, DELAWARE , UNITED STATES, April 18, 2024 /EINPresswire.com/ -- A new business intelligence report released by Allied Market Research, the global Speech Therapy Market was estimated at $9.9 billion in 2021 and is expected to hit USD 17 billion by 2031, registering a CAGR of 5.6% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/request-sample/A31451

The global speech therapy market is thoroughly examined across various parameters including type, age, end-user, and region. The report offers a comprehensive analysis of each segment and its sub-segments, employing both tabular and graphical representations. Investors and market players can leverage this detailed breakdown to formulate strategies, focusing on the segments that yield the highest revenue and exhibit the most rapid growth, as highlighted in the report.

In terms of type, the neurological conditions segment accounted for nearly two-fifths of the total market revenue in 2021 and is projected to maintain its dominance through 2031. Moreover, this segment is anticipated to witness the fastest compound annual growth rate (CAGR) of 6.1% over the forecast period. The report also delves into the analysis of the speech disorder segment.

In terms of age demographics, the pediatrics segment captured over two-thirds of the overall market revenue in 2021 and is forecasted to maintain its dominance through 2031. Conversely, the adults segment is poised to exhibit the swiftest compound annual growth rate (CAGR) of 6.1% over the forecast period.

Regarding end-users, hospitals contributed to nearly three-fifths of the total market revenue in 2021 and are projected to continue their dominance through 2031. Additionally, hospitals are expected to observe the fastest CAGR of 6.1% throughout the forecast period. The report also examines other segments such as clinics and rehabilitation centers.

𝐒𝐩𝐞𝐚𝐤 𝐭𝐨 𝐎𝐮𝐫 𝐀𝐧𝐚𝐥𝐲𝐬𝐭- https://www.alliedmarketresearch.com/connect-to-analyst/A31451

Regarding geographical distribution, North America accounted for almost half of the total market revenue in 2021 and is predicted to maintain its leading position through 2031. On the other hand, Asia-Pacific is set to demonstrate the highest CAGR of 7.8% during the forecast period. The report also covers analysis of other regions including Europe and LAMEA.

𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐑𝐞𝐜𝐞𝐬𝐬𝐢𝐨𝐧 𝐨𝐧 𝐒𝐩𝐞𝐞𝐜𝐡 𝐓𝐡𝐞𝐫𝐚𝐩𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡
During economic recessions, individuals and families may face financial constraints, leading to prioritization of essential expenses over non-essential healthcare services. As a result, the demand for speech therapy services may experience a decline, especially among uninsured or underinsured individuals. Moreover, job losses and reduced income levels can further exacerbate the situation, as people may postpone or forgo non-urgent medical treatments, including speech therapy sessions.

While economic recessions present challenges for the healthcare industry as a whole, including the speech therapy market, they also foster opportunities for innovation and adaptation. By leveraging technology, prioritizing preventive care, and collaborating with stakeholders, speech therapy providers can navigate the challenges posed by recessions and continue to deliver high-quality services to those in need. Additionally, policymakers and healthcare stakeholders must work together to ensure that essential healthcare services, including speech therapy, remain accessible and affordable during periods of economic uncertainty.

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐅𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the speech therapy market analysis from 2021 to 2031 to identify the prevailing speech therapy market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the speech therapy market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global speech therapy market trends, key players, market segments, application areas, and market growth strategies.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
Orient Speech Therapy Center Limited
Benchmark Physical Therapy Institute
Powerback Rehabilitation
Reliant Rehabilitation
Madonna Therapy Plus
Therapy Solutions Inc.
Rehabilitation Associates Inc.
Humanus Corporation
LifePoint Health (Kindred Healthcare, LLC)
National Institute of Physical Medicine and Rehabilitation

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
• Based on type, the neurological conditions segment held largest share in the global market in 2021. However, adults segment is anticipated to grow at the highest CAGR of 6.1% during the forecast period.
• On the basis of age, the pediatrics segment held largest market share in 2021.
• Based on end user, the hospitals segment dominated the market in 2021, and is expected to grow at a CAGR of 6.1% during the forecast period.
• On the basis of region, North America held largest share in the global market in 2021. However, Asia-Pacific is anticipated to grow at the highest CAGR of 7.8% during the forecast period.

David Correa
Allied Market Research
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