Offices of physical, occupational and speech therapists, and audiologists — US Industry Report
The offices of physical, occupational and speech therapists, and audiologists industry in the United States generated an estimated ~$53.5B in annual revenue across 52.1K establishments employing 466.9K workers (Census Bureau). This 24-page report analyzes industry performance, competitive dynamics, and delivers 5-year growth forecasts.
Industry Snapshot
- ▸Payroll growth significantly outpacing broader economy, yet individual therapist compensation remains flat
- ▸Practice fragmentation accelerating faster than sector employment expansion
- ▸Fragmented provider landscape unable to consolidate despite demographic tailwinds
- ▸Aging population demand spreading across dispersed practices rather than concentrating revenue
Table of Contents
Key takeaways, industry definition, and current state overview. Covers the industry's scope, principal activities, NAICS classification context, and a concise snapshot of where the industry stands today. Reading this alone gives decision-makers the high-level picture they need before diving into data-backed chapters.
Historical performance analysis covering establishments, employment, and payroll (2012-2025). Examines what has driven industry performance in recent years, how the industry has responded to macroeconomic cycles, and which operating conditions have shaped revenue and labor dynamics. Includes source-cited tables and year-by-year data points.
5-year projections (2026-2030) with base case, bull case, and bear case scenarios. Each scenario combines historical trends, macroeconomic indicators from FRED, and industry-specific signals. Addresses questions on expected trajectory, forecast risk, downside drivers, and the assumptions behind each scenario.
Growth drivers, risk factors, and external environment analysis. Unpacks the forces that will shape the industry over the forecast horizon — demographic shifts, regulatory changes, technology adoption, and cyclical exposure. Frames both the upside opportunities and the structural risks operators and investors should weigh.
Market structure overview, barriers to entry, and competitive dynamics. Describes how the industry is organized between large incumbents and smaller operators, how fragmented or concentrated it is, and the typical strategies firms use to compete. Named companies and market-share figures are covered at Standard tier and above.
Cost structure, labor requirements, technology factors, and the regulatory environment. Examines where operators spend, how sensitive margins are to input costs, what workforce and technology investments are typical, and which compliance and regulatory constraints shape day-to-day operations and long-term planning.
Strengths, weaknesses, opportunities, and threats — each supported by concrete evidence from the underlying data. Moves beyond generic bullet points by tying each SWOT element to specific metrics, structural trends, or external forces identified elsewhere in the report. Useful for strategic planning and risk assessment.
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Download a free sample report →Industry Analysis
The Offices of physical, occupational and speech therapists, and audiologists industry (NAICS 62134) encompasses 52.1K establishments in the United States employing 466.9K workers, generating an estimated ~$53.5B in annual revenue (Census Bureau). Classified within Health Care and Social Assistance, the industry is positioned in a mature phase of its life cycle.
This report examines historical performance trends (2012-2025), competitive structure, geographic distribution, and provides a 5-year outlook (2026-2030) with growth drivers, risk factors, and industry-specific SWOT analysis.
Products & Services
Key service categories in the Offices of physical, occupational and speech therapists, and audiologists industry.
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Top Questions Answered
What is the market size of the Offices of physical, occupational and speech therapists, and audiologists industry?
The Offices of physical, occupational and speech therapists, and audiologists industry generated ~$42.8B in revenue (US Census Economic Census, 2022). Full analysis available in report.
How fast is the physical, occupational, and speech therapy industry growing?
The industry has demonstrated strong, consistent growth over the past decade, outpacing the broader U.S. economy by a meaningful margin. Full analysis available in report.
What is the outlook for the therapy and audiology office industry over the next several years?
The industry is projected to continue its growth trajectory, supported by the continued aging of the U.S. population and expanding Medicare and Medicaid reimbursement frameworks for rehabilitative... Full analysis available in report.
What does NAICS code 62134 include and exclude?
NAICS 62134 covers establishments of independently practicing licensed practitioners — including physical therapists, occupational therapists, speech-language pathologists, and audiologists — whose... Full analysis available in report.
How many therapy and audiology offices operate in the United States?
As of 2023, approximately 52,100 establishments operate within this industry, employing roughly 466,900 workers (Census CBP, 2023) nationwide. Full analysis available in report.
How competitive is the physical and occupational therapy office market?
The industry is highly fragmented, with low capital barriers to entry for licensed practitioners, which sustains a large population of independent clinics competing alongside regional and national... Full analysis available in report.
How does compensation vary across roles and firm types in this industry?
Compensation within this industry varies considerably by discipline — audiologists and physical therapists with doctoral-level credentials typically earn at a premium relative to occupational therapy... Full analysis available in report.
What types of companies operate in the therapy and audiology office industry?
The industry is composed of three broad tiers: national platform operators that manage large networks of outpatient clinics across multiple states, regional multi-site groups concentrated in specific... Full analysis available in report.
Get complete answers with detailed growth rates, forecasts, and competitive analysis.
Methodology
This report is produced using AI-assisted analysis of official US government data sources. Our methodology combines automated data collection from federal statistical databases with AI-assisted synthesis and validation. Every numerical claim undergoes a validation pass against source data.
The Census Bureau's County Business Patterns and Economic Census provide establishment counts, employment, and payroll broken out by NAICS industry and geography. The Bureau of Labor Statistics QCEW program supplies wage data by industry. The Federal Reserve Economic Data (FRED) service contributes macroeconomic indicators used for industry forecasting — GDP, interest rates, housing starts, and sector-specific indices.
Data freshness varies by source: Census CBP has a ~2 year lag, BLS lags 6-9 months, and FRED provides near real-time macroeconomic data. Each report includes a data currency section showing exact year ranges.
Read our full methodology →Data Sources
Every chart, table, and claim in this report traces back to a published federal statistical database. Each data point in the PDF shows its source so you can verify it against the original dataset.
- U.S. Census Bureau — County Business Patterns & Economic Census
- Bureau of Labor Statistics — QCEW
- Federal Reserve Economic Data (FRED)
Report Details
Industry Classification (NAICS)
Where this industry sits in the North American Industry Classification System.
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