How Will the Voice Prosthesis Devices And Equipment Market Grow? Key Trends and Opportunities for 2025 and Beyond
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How Will the Voice Prosthesis Devices And Equipment Market Grow Over the Forecast Period Based on Its Expected CAGR?
The market for voice prosthesis devices and equipment has seen significant expansion in the past few years. The forecast indicates an increase from $1.26 billion in 2024 to $1.41 billion in 2025, reflecting a compound annual growth rate (CAGR) of 12.3%. The historical growth of this trend can be linked to increasing cases of laryngeal cancer, an aging population, heightened awareness of speech rehabilitation, and support from healthcare providers.
In the ensuing years, swift expansion is anticipated in the voice prosthesis devices and equipment market. It is predicted to reach a valuation of $2.16 billion in 2029, growing at a compound annual growth rate (CAGR) of 11.2%. Factors contributing to this growth within the forecast period include the adoption of minimally invasive procedures, expansion in emerging markets, regulatory backing and reimbursement schemes, and the use of telehealth and remote speech therapy. Key trends expected during this forecast period encompass advancements in device materials, speech recognition technology, personalised and patient-focused solutions, and the use of rehabilitation apps and digital tools.
How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the Voice Prosthesis Devices And Equipment Market?
The anticipated rise in larynx cancer cases is projected to spur the expansion of the voice prosthesis devices and equipment market. Larynx cancer, also known as laryngeal cancer, is a type of cancer that originates in the larynx tissues, commonly known as the voice box. The typical treatment for this disease often involves the surgical removal of the larynx, known as a total laryngectomy, resulting in the patient losing their natural voice. As a result, those who have had their larynx removed often seek methods of voice restoration, thereby increasing demand for voice prosthesis devices. For example, a report by the American Cancer Society pointed out in January 2023 that around 12,380 new cases of laryngeal cancer are expected in 2023, with 9,900 cases affecting men and 2,480 cases affecting women. The report also estimates that around 3,820 people (3,070 men and 750 women) are anticipated to lose their lives to laryngeal cancer in 2023. Hence, the rising incidence of larynx cancers is a significant factor propelling the growth of the voice prosthesis devices and equipment market.
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Who Are the Dominant Players Expanding Their Reach in the Voice Prosthesis Devices And Equipment Market?
Major companies operating in the voice prosthesis devices and equipment market include Atos Medical AB, Andreas Fahl Medizintechnik – Vertrieb GmbH, Servona GmBH, Acclarent Inc., Karl Storz Gmbh & Co. Kg, Smith & Nephew PLC, InHealth Technologies, HEIMOMED Heinze GmbH & Co. KG, Sonova Holding AG, William Demant Holding A/S, Smiths Medical Inc., ICU Medical Inc., Coloplast A/S, Orbisana Healthcare GmbH, Teleflex Incorporated, Innaumation Medical Devices Private Limited, Hood Laboratories, Caden Companies LLC, Calmoseptine Inc., Ajinomoto Cambrooke Inc., Cara Incorporated, Cardinal Health Inc., Blom-Singer Indwelling Voice Prostheses, CooperSurgical Inc., Cook Medical, Dale Medical Products Inc., Stryker Corporation, Halyard Health, Integra LifeSciences Holdings Corporation, Medtronic plc, Olympus Corporation
What Key Trends Are Currently Impacting the Voice Prosthesis Devices And Equipment Market’s Development?
Advancements in the technology used in voice prosthesis devices and equipment have enhanced several attributes of the devices, such as the durability of the device, user-friendly maintenance, and convenient outpatient replacements. Specifically, the Indwelling prostheses have been engineered to satisfy the requirements of low air resistance and optimal adhesion in the tracheoesophageal wall. These devices and apparatus have morphed into the preferred valve due to their success rate of 40-90% and exceptional voice quality.
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Which Primary Segments of the Voice Prosthesis Devices And Equipment Market Are Driving Growth and Industry Transformations?
The voice prosthesis devices and equipment market covered in this report is segmented –
1) By Device Type: Indwelling Voice Prosthesis Devices, Non-Indwelling Voice Prosthesis Devices
2) By Product Type: Soft Valve Assembly, Hard Valve Assembly, Other Product Types
3) By Valve Type: Blom-Singer valve, Provox valve, Groningen valve
4) By Material: Silicone Rubber, Silicone, Fluoroplastic, Silver Oxide, Other Materials
5) By End User: Hospitals, Ambulatory Surgical Centers, Clinics
Subsegments:
1) By Indwelling Voice Prosthesis Devices: Silicone Indwelling Voice Prosthesis, Hydrophilic Indwelling Voice Prosthesis, Customizable Indwelling Prosthesis, Disposable Indwelling Prosthesis
2) By Non-Indwelling Voice Prosthesis Devices: Hands-Free Voice Prosthesis, Removable Voice Prosthesis, Oral Voice Prosthesis, Reusable Non-Indwelling Prosthesis
Which Regions Are Setting the Pace for Voice Prosthesis Devices And Equipment Market Growth?
North America was the largest region in the global voice prosthesis devices and equipment market in 2023. Asia-Pacific was the second-largest region in the voice prosthesis devices and equipment market share. The regions covered in the voice prosthesis devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Defines the Scope of the Voice Prosthesis Devices And Equipment Market?
Voice prosthesis devices and equipment provide the capability to speak for patients who have undergone laryngectomy (removal of the larynx). These devices are placed in the tracheoesophageal puncture, an opening created between the trachea (windpipe) and the esophagus (food pipe) by surgeons.
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