DUBLIN, Aug. 15, 2023 /PRNewswire/ -- The "Speech Therapy Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The global speech therapy services market is projected to experience growth at a Compound Annual Growth Rate (CAGR) of 5.9% during the forecast period.
The COVID-19 pandemic had a significant effect on the market, impacting the neurorehabilitation and speech and language therapy (SLT) services. However, with the pandemic subsiding, speech therapy services are being provided normally, leading to stable growth in the market.
Factors such as increasing screening for speech and hearing impairment in newborns and the rising geriatric population are expected to drive market growth in the coming years. The prevalence of neurological disorders, including Alzheimer's disease, among the geriatric population may boost the demand for speech therapy services. Additionally, early hearing detection and intervention programs are contributing to the market's growth.
Key Market Trends:
The geriatric segment is expected to hold a significant market share during the forecast period, driven by growing research and development for neurodegenerative disorders like Alzheimer's. The increasing geriatric population worldwide is expected to enhance the segment's growth.
North America is expected to hold a significant share in the market due to factors such as the rising geriatric population, increasing prevalence of Alzheimer's disease, positive reimbursement policies, and early hearing detection and intervention programs.
Competitive Landscape:
The speech therapy services market is moderately fragmented, with major players like Smart Speech Therapy, Speech Therapy Services London Ltd, John McGivney Children's Centre, Speechpathway.net, and Speech Plus leading the industry.
The global speech therapy services market shows promising growth opportunities, driven by increasing awareness about speech and language therapy and efforts to address speech disorders in both newborns and the geriatric population.
A selection of companies mentioned in this report includes
- Benchmark Therapies Inc.
- CHEO
- Humanus Corporation
- John McGivney Children's Centre
- Reliant Medical Group
- Smart Speech Therapy
- Speech Plus
- Speech Therapy Services London Ltd
- SPEECH THERAPY SOLUTIONS INC.
- Speech Therapy Talk Services LLC
- Speechpathway.net
- Talk About Speech Pathology
For more information about this report visit https://www.researchandmarkets.com/r/gmvf5
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