The global voice prosthesis devices market share is a rapidly evolving market. Factors such as the massive advancements in medical technologies and increasing numbers of laryngectomy procedures are driving the growth of the market, majorly. Additionally, technological advances are accelerating the market growth on a global level, by improving functionalities of voice prosthesis devices and enabling them to garner significant market prominence.
According to an eminent research firm - Market Research Future (MRFR), the global voice prosthesis devices market is estimated to witness significant growth by 2023. In its recently published analysis, MRFR also asserts that the market would register a CAGR of approximately 6.20% throughout the review period (2023 – 2032). Rising cases of throat cancer and laryngeal cancer act as a major tailwind for the growth of the market.
Besides, rising prevalence of stroke, multiple sclerosis & amyotrophic lateral sclerosis, traumatic brain injury, and neurodegenerative diseases such as Parkinson’s disease majorly foster the market growth, often resulting in an irreversible loss of the ability to speak. The rapidly improving global economy plays a major role in impacting market growth positively. Also, the growing number of geriatric populations is furthering the market size globally.
Simultaneously, the market growth is led by the increasing numbers of severe accidents and injuries that cause traumatic effects on the brain, leading to the loss of speech. Besides, spreading awareness about the availability and advantages of voice prosthesis devices acts as a significant tailwind pushing up the market value.
Conversely, high cost and complications associated with voice prosthesis devices are projected to impede the growth of the market. Nevertheless, rising developments of cost-effective products using additive manufacturing (3D printing technology) would support market growth, reducing the cost of voice prosthesis devices.
Voice Prosthesis Devices Market – Segments
The market is segmented into four dynamics to widen the scope of understanding,
By Product Type : Indwelling Voice Prosthesis Devices and Non-Dwelling Voice Prosthesis Devices.
By Valve Type : Provox valve, Blom-Singer valve, Groningen valve, and others.
By End-user : Hospitals, Clinics, Diagnostic Centers, Ambulatory Surgical Centers, Research & Academic Institutes, and others.
By Regions : Europe, North America, APAC, and the Rest-of-the-World (RoW).
Voice Prosthesis Devices Market – Regional Analysis
North America dominates the global voice prosthesis devices market research. The largest share of the market attributes to the presence of significant market players and the increased prevalence of voice disorders within the region. Moreover, high healthcare expenditures and constant technological advancements create massive market demand. The region is estimated to create a larger revenue pocket in the global market throughout the review period, continuing with the same trends.
Besides, the rising occurrences of stroke, multiple sclerosis & amyotrophic lateral sclerosis, traumatic brain injury, and neurodegenerative diseases such as Parkinson’s disease that often result in an irreversible loss of the ability to speak foster the regional market growth, majorly. The North American voice prosthesis devices market receives significant contributions from the rapidly growing US market.
Europe stands second in the global voice prosthesis devices market globally. Factors such as the rising per-capita income, growing support for R&D activities from public & private entities, and the well-penetrated healthcare sector across the region boosts the regional market growth. The market is also driven by the increasing investments in healthcare and the rising number of patients seeking voice prosthetics in the region.
The Asia Pacific voice prosthesis devices market is rapidly emerging as a promising market globally. Factors such as the growing cases of throat cancer and increasing healthcare expenditure drive the APAC voice prosthesis devices market. Rapidly growing countries, India & China, backed by the vast developments in medical technologies, spreading awareness, and the availability of funds are significantly contributing to the regional market growth.
Voice Prosthesis Devices Market – Competitive Analysis
Highly competitive, the voice prosthesis devices market appears to be fragmented due to the presence of many well-established players. To gain a substantial share in the market, matured players incorporate strategic initiatives such as mergers & acquisitions, Expansion, brand reinforcement, and innovation/ Product & technology launch.
Major Players:
Players leading the voice prosthesis devices market include Teleflex Medical Europe Ltd., Atos Medical, Johnson & Johnson Services, Inc., Andreas Fahl Medizintechnik - Vertrieb GmbH, Sonova, InHealth Technologies, Smiths Medical, HEIMOMED Heinze, and SERVONA GmbH, among others.
Related Reports:
North America intraoral camera
For more information visit at MarketResearchFuture
Comments (0)