Speech Therapy Market to reach USD 18.19 billion in 2032 and grow at a CAGR of 5.64%
The speech therapy market is increasing due to growing disorders associated with speech and neurological conditions. According to UN World Population Prospects 2022, it is estimated that the population aged 65 and more will grow from 10% in 2022 to 16% by the year 2050. As these neurodegenerative conditions escalate in this age group, therefore, demand for speech therapy services is also expected to increase. Newborn hearing screenings also have some improvements by increasing. Early detection and intervention are even becoming better. For example, an article published in October 2021 by the American Academy of Pediatrics reported the rate of improvement in reading proficiency among children who have hearing loss when intervened early.