June 18, 2024

U.S. Speech Therapy Market is Estimated to Witness High Growth Owing to Accelerated Awareness Regarding Speech Disorders

The U.S. speech therapy market covers a variety of treatment methods and therapies to help individuals with communication or swallowing disorders stemming from conditions such as stroke, traumatic brain injury, Parkinson’s disease, cleft palate, autism spectrum disorder and voice disorders. Speech therapy aims to improve communication skills, treat swallowing disorders and reduce or eliminate any impediments in spoken and written language.

The Global U.S. speech therapy market is estimated to be valued at US$ 5.57 Mn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the U.S. speech therapy 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. The growing awareness about communication and swallowing disorders across the U.S. is creating opportunities for players in the market to expand their service offerings. Rapid advancements in technology are enabling speech therapists to develop novel therapeutic approaches using virtual and augmented reality tools. With rising prevalence of conditions causing speech impairments and an aging population, demand for speech therapy is expected to grow substantially in countries across North America, Europe, Asia Pacific and RoW regions in the coming years.

Market drivers

One of the key drivers for the U.S. speech therapy market is the accelerated awareness regarding various speech disorders such as articulation disorders, fluency disorders, language disorders, voice disorders etc. Extensive efforts by non-profit organizations as well as speech therapy associations are helping create acceptance and address the stigma surrounding disorders. This is encouraging more individuals especially children to seek early intervention and ongoing treatment options. As a result, demand for speech therapists and pathologists is growing at a notable pace in the U.S. healthcare system.

PEST Analysis
Political: The U.S. Speech Therapy Market is regulated by government agencies like Medicaid, Medicare, Individuals with Disabilities Education Act. The policies and funding impact the demand for speech therapy services.
Economic: A stronger U.S. economy leads to greater disposable incomes which increases the spending on speech therapy services. Rising healthcare costs also affects consumer spending decisions.
Social: Growing awareness about disorders like autism, articulation, apraxia drives the social demand for speech therapy. Effective marketing and education help reduce the stigma around speech difficulties.
Technological: Adoption of teletherapy and digital tools allows speech therapists to effectively reach more clients remotely. Web-based training modules and apps supplement traditional in-person therapy.

The U.S. SPEECH THERAPY Market in terms of value is concentrated highly in regions with large population centers and a high concentration of healthcare facilities. California, Texas, Florida and New York account for over 40% of the total market value due to their large size and higher health expenditures. Metropolitan areas offer clients easy access to multiple therapist options driving higher spend per capita.

The fastest growing region for the U.S. SPEECH THERAPY Market is the South. States like Georgia, North Carolina, Tennessee and South Carolina are witnessing population growth as well as increasing economic activity. Higher diagnosis rates, newer clinics entering markets and greater affordability compared to coastal states contribute to rapid expansion of the market in these areas over the forecast period. With healthcare providers follow population shifts, expenditure on speech services will see sustained double digit increases annually in the Southern states.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it