The Speech Impairment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Speech Impairment Global Market Report 2024, The speech impairment market size is expected to see strong growth in the next few years. It will grow to $12.73 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to increasing awareness about speech impairments and their impact , rising incidence of speech disorders, rise of mobile health applications , rising adoption of augmentative and alternative communication (aac) devices, increasing demand for speech therapy and pathology services. Major trends in the forecast period include advancements in speech recognition, collaborations between healthcare institutionsand technology companies, technological advancements, home-based intervention, speech-to-text innovations.
The rise in the incidence of speech disorders is expected to propel the growth of the speech impairment market going forward. Speech disorders are conditions that affect a person’s ability to produce sounds that create speech. As the prevalence of speech disorders increases, there is a growing need for effective diagnostic tools, therapies, and assistive technologies to address these conditions, and this demand can drive innovation and investment in the development of new products and services tailored to individuals with speech impairments. For instance, according to Contemporary Pediatrics, a US-based medical clinic, in 2022, speech disorder diagnoses among children, with infants and children aged 0–2, experienced an increase of 136% increase compared to the pre-pandemic era. Further, children aged 3 to 5 years saw a 107% increase in diagnoses in 2022. Therefore, the rise in the incidence of speech disorders is driving the growth of the speech impairment market.
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The speech impairment market covered in this report is segmented –
1) By Type: Speech Disorder, Language Disorder, Apraxia, Autism Spectrum Disorder (ASD), Other Types
2) By Age: Pediatrics, Adults, Elderly
3) By End-User: Specialty Clinics, Rehabilitation Centers, Speech Therapy Centers, Bilingual Classes, Hospitals, Community Health Centers
Top Major Players:
Google LLC
Microsoft Corporation
The International Business Machines Corporation
LifePoint Health
Sunnova Holding AG
North America was the largest region in the speech impairment market in 2023.
Major companies operating in the speech impairment market are focusing on innovative technology, such as speech recognition apps, to help people with speech disabilities communicate. A speech recognition app, or speech-to-text app, is a software application that converts spoken language into written text. For instance, in June 2021, Voiceitt, an Israel-based startup company, launched a speech recognition app that allows people to speak to and be understood through their smart devices with their own voice commands. It is a patented automatic speech recognition (ASR) technology specifically for individuals with speech disabilities, aging voices, and accents. The Voiceitt app is designed to understand non-standard speech, such as that of individuals with motor-speech disabilities and translate speech to text and automated voice output.
The speech impairment market report table of contents includes:
1. Executive Summary
2. Speech Impairment Market Characteristics
3. Speech Impairment Market Trends And Strategies
4. Speech Impairment Market – Macro Economic Scenario
5. Global Speech Impairment Market Size and Growth
….
32. Global Speech Impairment Market Competitive Benchmarking
33. Global Speech Impairment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Speech Impairment Market
35.Speech Impairment Market Future Outlook and Potential Analysis
36. Appendix
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