The global stuttering therapeutics market is witnessing remarkable growth, with an anticipated market value of USD 43 Million in 2023. This market is projected to expand at a compound annual growth rate (CAGR) of 14%, reaching a significant value of USD 159.41 Million by 2033.
Stuttering, a speech disorder that affects millions worldwide, is increasingly being addressed through innovative therapeutic solutions. The growing awareness of stuttering and advancements in speech therapy treatments are driving the surge in market demand. Between 2018 and 2022, the market saw a consistent CAGR of 11%, reflecting a steady increase in the adoption of various therapeutic approaches, including speech therapy, medication, and technological interventions.
Experts attribute the projected 14% CAGR from 2023 to 2033 to the increasing focus on improving the quality of life for individuals with stuttering. The market growth is further fueled by ongoing research and development efforts aimed at creating more effective, personalized therapies.
Advancements in technology are also driving the growth of the stuttering therapeutics market. Electronic fluency devices, smartphone apps, and other technologies are being developed to help manage the symptoms of stuttering. These technologies offer non-invasive, convenient, and cost-effective options for individuals with stuttering, and are gaining popularity in the market.
Moreover, increased awareness and advocacy for stuttering are also driving the growth of the stuttering therapeutics market. There has been a significant increase in awareness and advocacy for stuttering in recent years, which has helped reduce the stigma surrounding the disorder and increased access to diagnosis and treatment for individuals with the disorder.
Key Takeaways from the Market Study:
- From 2018 to 2022, the Stuttering Therapeutics market grew at a CAGR of 11%.
- The global Stuttering Therapeutics market is expected to grow with a 14% CAGR during 2023 to 2033.
- As of 2033, the Stuttering Therapeutics Market is expected to reach USD 159.41 Million.
- According to the FMI analysis, the hospitals segment accounts for the largest market share.
- North America is expected to possess 40% market share for the Stuttering Therapeutics market.
- The East & South Asia market is predicted to increase significantly throughout the forecast period, with a share of 20% during the forecast period.
“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering Stuttering Therapeutics.” says an FMI analyst
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Market Competition:
Key players in the market include companies such as Competition Deep Dive, Auspex Pharmaceuticals, Inc., GlaxoSmithKline plc., Johnson & Johnson Services, Merck & Co., Inc., Pfizer Inc., Siemens Healthcare GmbH, Novartis AG, AstraZeneca, AbbVie Inc. along with healthcare providers and technology companies among other global players.
- In October 2022, Vivera announced that the US Patent and Trademark Office (USPTO) has granted a US patent allowance for the Company’s method and device for evaluating and providing feedback on Speech Fluency. Stuttering, a speech disorder that causes disfluencies in speech, affects 70 million individuals across the globe. Although there are treatments available, it can be challenging for clinicians to assess stuttering accurately, as its severity may fluctuate over time and in different situations.
- Recognizing the need for a more precise evaluation of patient speech disfluencies in real-world settings, Vivera developed a stuttering severity assessment device. This innovative device allows for continuous monitoring of a patient’s stuttering, enabling a more accurate assessment and providing feedback to the patient in real-time. By gathering personalized patient data, clinicians can monitor the therapeutic effects of treatment and adjust therapy accordingly.
Key Segments Profiled in the Stuttering Therapeutics Industry Survey:
Treatment:
- Speech therapy
- Stuttering Devices
- Cognitive behavioural therapy
- Parent-child interaction
- Drug therapy
Type:
- Developmental stuttering
- Neurogenic stuttering
End User:
- Hospitals
- Specialty Clinics
- Homecare
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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