The U.S. speech therapy market size is set to gain traction from the rising adoption of teletherapy by various medical associations in the country. It has proven to be an effective model for people suffering from aphasia, dysarthria, and articulation disorders. The American Speech-Language-Hearing Association (ASHA), for instance, officially stated in 2020 that speech-language pathologists could gain multiple opportunities for providing care by using teletherapy amid the COVID-19 pandemic. As per a published report by Fortune Business Insights™, titled, “U.S. Speech Therapy Market, 2021-2028,” the market stood at USD 3.94 billion in 2020. It is projected to grow from USD 4.10 billion in 2021 to USD 6.08 billion in 2028 at a CAGR of 5.8% during the forecast period.
A list of renowned
companies Present in the U.S. speech therapy industry:
Genesis Rehab Services
(Pennsylvania, U.S.)
Therapy Solutions Inc.
(Pennsylvania, U.S.)
Reliant Rehabilitation (Texas,
U.S.)
Kindred Healthcare, LLC
(Kentucky, U.S.)
Humanus Corporation
(Pennsylvania, U.S.)
Smart Speech Therapy (New
Jersey, U.S.)
BenchMark Physical Therapy
Institute (Georgia, U.S.)
Rehabilitation Associates, Inc.
(Connecticut, U.S.)
Report
Coverage-
Our detailed research reports offer
comprehensive coverage of this industry, ensuring a deep and holistic
understanding of the market. It also provides granular and actionable data. We
strive to ensure that you receive the best strategies for increasing the sales
of your products. Our key mission is service orientation. We also conduct
extensive primary and secondary research to help you track the latest
innovations, regulatory developments, and competitive landscape.
Drivers &
Restraints-
Rising Cases of
Articulation, Aphasia, and Stuttering to Bolster Growth
The surging prevalence of speech &
language disorders, such as stuttering, aphasia, and articulation among the
pediatric population, is set to drive the demand for effective treatment
therapies and accelerate the U.S. speech therapy market growth. In 2019, for
instance, the National Institute on Deafness and Other Communication Disorders
declared that children between 3 to 17 years suffering from a speech disorder
in the U.S. were 5.0%. These disorders lasted for a longer duration. However,
the cost of these therapies is very high. Hence, not many people can afford
them, which may obstruct the industry.
Read a
Detailed Summary of This Report: https://www.fortunebusinessinsights.com/u-s-speech-therapy-market-105574
Focus of SLPs on
Critically Ill COVID-19 Patients to Affect Growth Negatively
The COVID-19 pandemic resulted in the
declining number of referrals to speech-language pathologists (SLP) in the
U.S., especially because of lockdown measures imposed by the government. But,
the government put forward new norms that compelled speech-language
pathologists to offer essential rehabilitation services to COVID-19 positive
patients. We provide detailed reports to help you select the best strategy that
you can adopt to surge revenues in the U.S. speech therapy industry.
Competitive
Landscape-
Key Players Focus
on Joint Ventures & Partnerships to Compete in Industry
The industry contains a large number of
big, small, and medium-sized companies. Most of them are participating in the
partnership strategy to add the expertise of prominent players in their range
of services. A few others are focusing on forming joint ventures with local
companies to develop novel healthcare facilities. This would help them in
gaining a competitive edge in the U.S. speech therapy industry. Below are the
two important industry developments:
February
2021: Kindred
Healthcare, LLC announced a joint venture with UofL Health to operate and
develop an inpatient rehabilitation hospital in Kentucky. It would help people
to gain access to high-quality inpatient rehabilitation services.
November 2020: Diversicare Healthcare Services, Inc. joined hands with Reliant Rehabilitation to offer efficient therapy services to patients. This partnership would also help blend the core strength and expertise of both companies to address the expectations and demands from patients during the new normal era.
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