The global voice prosthesis devices market is forecasted to value over USD 180 million by 2026 end and register a CAGR of over 4.3% from the forecast period 2019-2026.
Technological advancements of latest voice prosthesis coupled with an increase in investments for research and development activities are accelerating the global voice prosthesis devices market growth. Increasing cases of laryngeal have resulted in the inflation of voice prosthesis devices market size. The increasing prevalence of throat cancer coupled with increasing patient awareness regarding the advantages of voice prosthesis devices is expected to fuel the growth of the market.
The market is bifurcated into by valve, by device, by end-user and by region. On the basis of valve, the provox valve segment is expected to show notable growth. Provox valve help in detecting early leakages around the valve and offers low device maintenance. It also lessens coughing and mucus production by filtering the air inhaled by humans. Owing to these advantages there has been a rapid demand for provox valves as result inflating the voice prosthesis devices market size.
Based on device, indwelling devices currently dominate the growth of the market. Indwelling devices offer a high voice alongside excellent patient satisfaction. Owing to its longer product lifespan, users prefer indwelling devices hence resulting in expansion of the market.
In terms of end-users, hospitals and ambulatory surgical centers hold a vast share of the market. The rapid expansion of hospitals in developed economies alongside favorable government initiatives is fueling the growth of the market as well. The increasing cases of laryngeal cancer are also contributing to the growth of hospitals and ambulatory surgical centers.
On the basis of region, North America dictates the growth of the market. The increasing prevalence of larynx cancer coupled with the presence of prominent players in the region is increasing the voice prosthesis market share. Developed healthcare infrastructure alongside increasing patient pool is also contributing towards the growth of the market in the region. According to the figures released by National Institute of Deafness and Other Communication Disorders, approximately 7.5 million suffer from voice problems. The rise inpatient population is expected to positively influence the market.
The Asia-Pacific region is considered a lucrative region owing to an increase in healthcare budgets by governments coupled with increase in adoption of voice prosthesis devices. Nations like China and Japan are the biggest consumers of voice prosthesis thus, increasing the voice prosthesis devices market share of the region.
Prominent players of the market are Servona GmbH, Atos Medical, Hood Laboratories, InHealth Technologies, Teleflex Medical Europe Ltd., Sonova, Acclarent, Inc and Smiths Medical.
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Competitive Landscape:
• Atos Medical strengthened its foothold in the market by acquiring Heimomed Heinze GmbH & Co. KG in 2018
• Healthcare Global Enterprises revealed an affordable voice prosthesis device for people suffering from throat cancer. The organization claims the device was the first one in India
Global Voice Prosthesis Devices Market Segmentation
By Valve
• Blom-Singer Valve
• Provox Valve
• Other Valves
By Device
• Indwelling Voice Prosthesis Devices
• Non-Dwelling Voice Prosthesis Devices
By End-User
• Hospitals & Ambulatory Surgical Centers
• Specialty Clinics
• Others
By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Rest of the World
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FutureWise Key Takeaways:
• Growth Prospects
• SWOT Analysis
• Key Trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global voice prosthesis devices market by valve, by device, by end-user and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• Evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and the rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financial and core competencies
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