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The U.S. speech therapy market size was valued at USD 4.13 billion in 2021. The market is projected to grow from USD 4.35 billion in 2022 to USD 6.52 billion by 2029, exhibiting a CAGR of 6.0% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with speech therapy experiencing lower-than-anticipated demand across the U.S. compared to pre-pandemic levels. Based on our analysis, the U.S. market exhibited a slower growth of 2.4% in 2020 as compared to 2019.
Speech-language pathology is a field of rehabilitation services provided by speech therapists or Speech-language Pathologists (SLP) treating speech impairment, language, communication, or swallowing problems among individuals. The therapy includes intervention services, focusing on improving a patient’s speech and abilities to understand and express language, including nonverbal language.
Thus, the increasing prevalence of speech disorders among children and adults in the country is increasing the demand for speech-language pathology services among the U.S. population. This, coupled with increasing initiatives by the government to promote speech and therapy care among the affected population in the U.S., is surging the demand and adoption of speech therapy during the forecast period. Additionally, the presence of favorable reimbursement policies in the U.S. and the rising shift toward teletherapy are expected to offer lucrative growth opportunities to the market players.
Decline in Patient Visits Hindered Market Growth during COVID-19
The outbreak of the coronavirus pandemic had a minimal impact on the market. A decline in the number of referrals to SLP was observed in the country during the pandemic, owing to lockdown restrictions imposed by the government. Also, limited infrastructure for virtual speech therapy limited the adoption rate of these therapies among the U.S. population.
However, the U.S. government, on the other hand, reallocated speech-language pathologists to provide essential rehabilitation services to patients recovering from critical coronavirus cases. This compensated for the decline in inpatient visits in the U.S. from Q1 to Q4 2020.
This, along with reimbursement policies by the U.S. government for virtual services, augmented the demand for these services during 2020.
Also, during the post-pandemic situation, a significant shift was observed among the U.S. population for these services. This was further fueled by the introduction of virtual programs, special education, and awareness campaigns by major companies, which increased the adoption rate and have been instrumental in the increasing growth rate of the market during the study period.
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Shift of Patients toward Teleconsultancy for Speech and Language Therapy
Speech and language therapy can be provided in various ways, including real-time visits via audio, video, or both, by avoiding actual contact between patients and therapists. Also, several medical associations have observed that teletherapy is an effective model for patients with articulation disorders, dysarthria, aphasia, and others.
For instance, in 2020, in response to the pandemic, the American Speech-Language-Hearing Association (ASHA) published an official statement on the use of telepractice. It offered speech-language pathologists an opportunity to deliver care by using this new model during the pandemic.
Also, to improve user experience, market players are already taking the initiative and citing the opportunity to fulfill patients’ demands through teletherapy for deafness and other communication disorders. For instance, in July 2020, Therapy Solutions Inc. arranged a virtual summer camp at the Philadelphia Zoo for its younger patients to provide therapy sessions during the pandemic. Hence, such initiatives by market players and medical associations have led to the introduction of a new approach for consulting patients, i.e., teletherapy and is gaining huge acceptance among speech-language pathologists and the patient population in the country.
According to an article published by iTechArt in November 2021, it was reported that 60% of the surveyed speech language pathologists preferred telehealth for its convenience of use and easy accessibility throughout rural, urban, and suburban locations. Also, 68% of the surveyed speech therapists ensured that they would adopt telehealth services in the near future.
Rising Prevalence of Speech & Language Disorders in the U.S. to Fuel Market Growth
The increasing number of people in the U.S. suffering from speech & language disorders, such as articulation, aphasia, stuttering, and others, generates a huge demand for effective treatment therapy.
Additionally, it is estimated by various studies that among all patients suffering from neurological conditions, such as Parkinson's and stroke, a higher percentage of patients suffer from speech and voice disorders that can affect the quality of life of a patient if not treated properly.
Thus, such statistics, along with the presence of favorable reimbursement policies for speech-language pathology services in the U.S., are improving the demand for these therapies in the country, and will subsequently propel the U.S. speech therapy market growth during the forecast period.
High Cost of Treatment and Shortage of Speech Therapists Responsible for Hindering Market Growth
The increasing prevalence of speech disorders, coupled with the rising early diagnosis rate and demand for effective treatment, are major factors anticipated to propel the need for this therapy in the U.S. However, the cost-to-benefit ratio of the therapy is not justified. For instance, according to an article published by the National Centre for Biotechnology Information, it was observed that speech disorders, such as apraxia and stuttering, could easily take around 6 to 18 months of treatment. However, still, the condition cannot be fully cured. Also, according to CostHelper, Inc., speech therapy can cost around USD 250 to USD 700 for an evaluation and USD 100 to USD 250 per hour for ongoing sessions. This huge cost structure is not affordable for the majority of the U.S. population and hence limits the adoption rate of this service.
Also, the shortage of SLP has been observed across the country. According to the Chairman of Texas Woman's University, in Texas, there is a need for speech therapists to assess and treat more than 200,000 public school students between the ages of 3 to 21 every year. Thus, the high cost of these services and the shortage of speech-language pathologists result in the unavailability of such therapy in rural areas of the U.S. and subsequently restrict the growth of the market in the country.
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Rising Prevalence of Key Speech Disorders Led to Segmental Dominance
Based on type, the market is segmented into speech disorders, language disorders, neurological conditions, swallowing disorders, and others. The speech disorders segment held a dominant share in 2021, which is attributable to the increasing prevalence of a number of speech disorders, including aphasia, apraxia, articulation disorders, and others. This is resulting in the rising patient population in the U.S. and leading to the rising demand for available treatment options. The neurological conditions segment is expected to register a significant CAGR due to the increasing number of patients seeking effective therapy for neurological conditions such as Parkinson’s disorders and dysarthria.
On the other hand, the language, swallowing disorders, and other segments are anticipated to grow at a comparatively moderate CAGR during the forecast period due to the increasing number of rehabilitation service-providing companies in the U.S. and the gradually increasing patient population with aphasia and traumatic brain injury undergoing rehabilitation therapy.
Pediatrics Segment to Dominate Market during Forecast Period
Based on age, the market is categorized into pediatrics and adults. Among them, the pediatrics segment held a dominating share in 2020. The dominance is due to the increasing incidence of speech-language and swallowing disorders among children and the surging initiatives by the government to provide care across all schools and education facilities in the U.S. This is alternatively increasing the number of diagnosed children requiring this therapy and boosting the demand and adoption of the service.
However, the adult segment is anticipated to grow at a significant CAGR owing to the rising prevalence of speech and voice disorders among the adult population in the country.
Inorganic Growth Strategies and Launch of New Clinics by Key Players Led to Market Dominance
The market is characterized by the presence of tier 1, tier 2, and tier 3 players. Expansion of healthcare settings across the U.S. by the key companies is one of the primary reasons attributed to the increasing U.S. speech therapy market share of the tier 1 companies such as Kindred Healthcare, LLC, Genesis Rehab Services, and BenchMark Physical Therapy Institute during the study period.
Also, a few market players, including Reliant Rehabilitation and Humanus Corporation are focusing on adopting growth strategies, such as partnerships and mergers, on expanding their customer base in the U.S.
Other prominent players operating in the U.S. market include Smart Speech Therapy, Therapy Solutions Inc., and Rehabilitation Associates, Inc.
An Infographic Representation of U.S. Speech Therapy Market
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The U.S. speech therapy market research report provides a granular overview of the industry by performing corporate analysis and accurate data. It focuses on key aspects such as leading companies, type, and age. Besides, it offers insights into market trends and highlights key industry developments. In addition to the factors mentioned above, the report analyzes and understands several factors that have contributed to the growth of the market in recent years.
ATTRIBUTE | DETAILS |
Study Period | 2018-2029 |
Base Year | 2021 |
Estimated Year | 2022 |
Forecast Period | 2022-2029 |
Historical Period | 2018-2020 |
Unit | Value (USD billion) |
Segmentation | By Type and Age |
By Type |
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By Age |
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Fortune Business Insights says that the market stood at USD 4.13 billion in 2021 and is projected to reach USD 6.52 billion by 2029.
In 2021, the market value stood at USD 4.13 billion.
The market will exhibit steady growth at a CAGR of 6.0% during the forecast period (2022-2029).
The speech disorders segment is set to lead the market by type.
The increasing prevalence of speech & language disorders and the rising initiatives taken by the government to promote speech therapy are the key factors driving the market.
Kindred Healthcare, LLC, Genesis Rehab Services, and BenchMark Physical Therapy Institute are the top players in the market.