Vocal Cord Paralysis Global Market 2018-2023: Key Players - Medtronic plc (Ireland), Abbott (U.S.), Hoya Corporation (Japan) and Olympus Corporation (Japan)

Market Scenario
Vocal cord paralysis is the second most common congenital defect of the voice box, which accounts for about 10%-15% of congenital laryngeal disorders. It is an inability of one or both vocal cords to move properly. It is also called as a vocal fold paresis and it results from abnormal nerve input to the laryngeal muscles. This condition can occur at any age, from birth to advanced age, in males and females, due to a variety of causes. The cause of vocal fold paralysis indicates whether the disorder may resolve over time or it may be permanent. The major causes include inadvertent injury during surgery, a complication of endotracheal intubation, blunt neck or chest trauma, tumors of the skull base, neck, and chest, and viral infections.
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Vocal fold movements are controlled by the brain through a specific nerve i.e. superior laryngeal nerve (SLN), and recurrent laryngeal nerve (RLN). SLN carries signals to the cricothyroid muscle, and RLN carries signals to different voice box muscles, which are responsible for opening vocal folds, closing the folds for vibration during voice use, and other activities. Diseases that result in inflammation of the vocal cords includes Wegener's granulomatosis, gout, syphilis, sarcoidosis or polychondritis, and tuberculosis. Diabetes mellitus may also lead to a neuropathy resulting in vocal cord paralysis. Laryngoscopy is the most commonly adopted procedure for the diagnosis of vocal cord paralysis. According to a study published in Clinical and Experimental Otorhinolaryngology journal in 2017, it is found that electrical stimulation has emerged as a potential therapeutic technique to measure peripheral nerve injury. It is also stated that electrical stimulation may promote the specificity of reinnervation of denervated laryngeal muscles.
Notably, rising technological advancements is the key factor driving the vocal cord paralysis market. In the recent years, various new endoscopic technologies such as CT colonography, Narrow Band Imaging, Endoscopic Mucosal Resection (EMR), Capsule Endoscopy, Endoscopic Ultrasound (EUS), Mucosal Ablation Therapies, microendoscopy, etc., have increased accuracy in diagnosis and treatment to a great extent.
Various other push factors such as increasing awareness among people, increasing government assistance, improving regulatory framework, and rising funding and reimbursement continuously contributing to the growth of the global vocal cord paralysis market.

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Despite these drivers, there are some issues associated with vocal cord paralysis market. Some of the challenges in research and development are lack of skilled physicians, and poor healthcare system in low and middle-income countries may hinder the growth of the market to an extent.
It is estimated that the vocal cord paralysis market is expected to grow at a CAGR 6.4% during the forecast period of 2017-2023.
Intended Audience
• Pharmaceutical Companies
• Research and Development (R&D) Companies
• Diagnostic Laboratories
• Government Research Institute
• Academic Institutes and Universities
Segmentation
The global vocal cord paralysis market is segmented on the basis of type, diagnosis, treatment, and end-user.
On the basis of the type, the market is segmented into unilateral, and bilateral.
On the basis of the diagnosis, the market is classified into endoscopy, laryngeal electromyography (LEMG), corticosteroids, gene therapy, nerve stimulation, stem cell therapy, and other tests. Other tests include X-rays, CT scans, and MRI scans.
On the basis of the treatment, the market is classified as voice therapy, surgery, and others. The surgery is further segmented into a bulk injection, phonosurgery, tracheotomy, nerve muscle implant, cordectomy, and adrytenoidectomy.
On the basis of the end-users, the market is segmented into hospital, clinics, diagnostic centers, and others.
Regional Analysis
The Americas dominate the vocal cord paralysis market owing to the rising awareness among people, and high healthcare expenditure. According to the Centers for Disease Control and Prevention in 2015, the total health expenditure in the United States was reported to be USD 3.2 trillion and hospital care accounted for a share of 32.3%.
Europe holds the second position in the vocal cord paralysis market. It is expected that the support provided by the government bodies for research & development and improvement in reimbursement policies in healthcare is likely to drive the market of Europe region.
The Asia Pacific is the fastest growing vocal cord paralysis market owing to a huge patient pool and developing healthcare technology. Healthcare expenditure is also improving in various Asia Pacific countries. According to the Australian Institute of Health and Welfare in the years 2015-2016, the total health expenditure was USD 170.4 billion, which is 3.6% higher than the expenditure of 2014-2015.
The Middle East & Africa holds the lowest market due to lack of technical knowledge and poor medical facilities.

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Key Players
Some of key the players in the global vocal cord paralysis market are Medtronic plc (Ireland), Abbott (U.S.), Hoya Corporation (Japan), Olympus Corporation (Japan), KARLSTORZ GmbH & Co (Germany), Acclarent, Inc. (U.S.), Stryker Corporation (U.S.), Smith & Nephew plc (U.K), William Demant Holdings A/S (Denmark), Sonova Holdings AG (Switzerland), Cochlear Limited (Australia), and Others.

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This release was published on openPR.