U.S. Speech Therapy Market, by Age Group (Children and Adults), by Indication (Speech Disorders, Language Disorders, Apraxia, Autism Spectrum Disorder (ASD), and Others), and by End User (Hospitals, Clinics, Rehabilitation Centers, and Others), is estimated to be valued at US$ 4.35 million in 2021, and is expected to exhibit a CAGR of 5.4% during the forecast period (2021-2028).
Increasing prevalence of autism spectrum disorder (ASD) is anticipated to drive the growth of U.S. speech therapy market over the forecast period. According to the Centers for Disease Control and Prevention (CDC) an estimated 5,437,988 (2.21%) adults in the U.S. had autism spectrum disorder (ASD) in 2017. The states with the greatest estimated number of adults living with autism spectrum disorder (ASD) include California (701,669), Texas (449,631), New York (342,280), and Florida (329,131).
Moreover, increasing prevalence of voice, speech, language, or swallowing disorders among children is expected to propel the U.S. speech therapy market growth over the forecast period. The National Institute on Deafness and Other Communication Disorders, a member of the U.S. National Institutes of Health, reported in 2016, that the prevalence of speech, voice, language, or swallowing disorders is highest among children aged three to six (11.0%), compared to children aged seven to ten (9.3%), and children aged 11-17 (4.9%).
U.S. Speech Therapy Market- Impact of Coronavirus (COVID – 19) Pandemic
The COVID-19 pandemic has affected several markets across the globe. The COVID-19 pandemic has affected the demand and supply of healthcare products in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and due to its financial impact on firms and financial markets.
However, market players started providing online speech therapy services during the pandemic, which boosted the market growth even after the COVID-19 hit the U.S. Moreover, the U.S. government included Medicare coverage for certain audiology and speech-language pathology services in order to ensure that the patients can access speech therapy services. For instance, in April 2021, The Centers for Medicare & Medicaid Services announced that expansion of Medicare coverage for certain audiology and speech-language pathology services delivered via telehealth during the coronavirus pandemic which further augmented the growth of U.S. speech therapy market.
Browse 20 Market Data Tables and 54 Figures spread through 245 Pages and in-depth TOC on U.S. Speech Therapy Market, by Age Group (Children and Adults), by Indication (Speech Disorders, Language Disorders, Apraxia, Autism Spectrum Disorder (ASD), and Others), and by End User (Hospitals, Clinics, Rehabilitation Centers, and Others)
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Market players are focusing on expanding their services for speech therapies, which is anticipated to boost the U.S. speech therapy market growth over the forecast period. For instance, in October 2020, SPG, a Ridgemont Equity Partners portfolio company and provider of behavioral health and therapeutic services to children with autism and other disabilities, announced the addition of Go2Consult in Southern California and Family Support Center (FSC) in Colorado in the SPG family. Go2Consult is a speech and language services provider for school districts throughout the Inland Empire.
Key Takeaways of the U.S. Speech Therapy Market:
- The U.S. speech therapy market is expected to exhibit a CAGR of 5.4% over the forecast period (2021-2028). Increasing prevalence of voice, speech, language, or swallowing disorders, rising number of online therapy services, and others are expected to drive growth of the U.S. speech therapy market over the forecast period. For instance, in June 2017, Global Teletherapy, a company which delivers speech therapy, occupational therapy, psychoeducational assessments, physical therapy, and mental health services, announced that the company had assembled a team of speech and language pathologists and occupational therapists who are providing children across the U.S., with online therapy services via secure, two-way video conferencing.
- Some of the major players operating in the U.S. speech therapy market include 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
