Portland, OR, Oct. 31, 2022 (GLOBE NEWSWIRE) -- 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.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Market Size in 2031 | $17 Billion |
| CAGR | 5.6% |
| No. of Pages in Report | 166 |
| Segments Covered | Type, Age, End-user, and Region. |
| Drivers | Increase in prevalence of speech disorders and neurological conditions |
| Opportunities | Rise in initiatives taken by government bodies to provide facilities related to communication disorders for all schools and education facilities |
| Restraints | High cost of speech therapy and shortage of speech therapists |
Covid-19 scenario-
- The outbreak of the pandemic had forced a number of industries to shut their operations temporarily including the sub-domains of healthcare. Decline in number of speech language pathologists had a negative impact on the global speech therapy market.
- However, there were Covid-19 patients who needed speech and language therapy treatments for voice, swallowing, and communication issues due to several respiratory symptoms, thus providing a mixed impact to the industry altogether.
The global speech therapy market is analyzed across type, age, end-user, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
Based on type, the neurological conditions segment held nearly two-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also manifest the fastest CAGR of 6.1% throughout the forecast period. The speech disorder segment is also analyzed through the report.
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By age, the pediatrics segment garnered more than two-thirds of the total market revenue in 2021, and is expected to dominate by 2031. The adults segment, however, would project the fastest CAGR of 6.1% throughout the forecast period.
By end-user, the hospitals segment generated nearly three-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also cite the fastest CAGR of 6.1% throughout the forecast period. The other segments studied through the report include clinics and rehabilitation centers.
Based on region, the global speech therapy market across North America generated nearly half of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. Asia-Pacific, at the same time, would display the fastest CAGR of 7.8% during the forecast period. The other provinces analyzed through the report include Europe and LAMEA.
The key market players analyzed in the global speech therapy market report include National Institute of Physical Medicine and Rehabilitation (NIPMR), Humanus Corporation, Powerback Rehabilitation, BenchMark Physical Therapy Institute, Rehabilitation Associates, Inc., LifePoint Health (Kindred Healthcare), Reliant Rehabilitation, Therapy Solutions, Inc., Orient Speech Therapy Limited, and Madonna TherapyPlus.
These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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