PersistenceMarketResearch states that the global speech therapy services market will grow at a notable rate between 2020 and 2030.
Speech therapy services could be inclusive of speech drills, physical exercises, and sound production practice. The settings related to treatment could be neighbourhood, home, and school. Home care is preferred for patients less than 3 years of age. It so happens that pre-schoolers could avail of these services in daycare centres, whereas school-going children could have it in the classroom settings.
Plus, the increase in geriatric population is another factor boosting the speech therapy services market. The baby boomers fall in the category of this population. Neurological ailments like hydrocephalus, brain malformation, and birth asphyxia do need speech therapy. As per NCBI, neurological disorders’ prevalence stands at over 38% (out of the overall disorders). It also states that children battling Down syndrome are more prone to neurological disorders.
Speech therapy services, by indication, consist of language disorder, speech disorder, apraxia, ASD (Autism Spectrum Disorder). By patient pool, they say children and adult.
North America dominates the speech therapy services market, with Europe taking the second position. This could be credited to the growing incidences regarding congenital disorders along with growth in the geriatric population. The National Institute on Deafness and Other Communication Disorders states that close to 17.9 Mn US adults aged 118 and above have issues with their voice every single year. Increase in healthcare expenditure is driving the market in the Asia-Pacific as well. This region is, in fact, expected to stand tall in the upcoming period.
The key market participants include Smart Speech Therapy, Glenda Browne Speech Pathology, Therapy Solutions Inc., Talk Speech Pathology Pty Ltd., Benchmark Therapies, Inc., and Smart Speech Therapy. Innovation on the count of speech therapy services is expected to keep the cash flow smooth in the next few years.
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