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Unlocking Opportunities in the Voice Prosthesis Devices And Equipment Market: 2025-2034 Forecast Report
Voice Prosthesis Devices And Equipment
What Will the Voice Prosthesis Devices And Equipment Industry Market Size Be by 2025?
The market size of voice prosthesis devices and equipment has seen rapid expansion in the last few years. It's projected to escalate from $1.26 billion in 2024 to $1.41 billion in 2025, with a compound annual growth rate (CAGR) of 12.3%. The historical growth can be ascribed to factors such as the surge in laryngeal cancer cases, an increasing aging population, heightened awareness of speech rehabilitation, and support from healare providers.
What's the Long-Term Growth Forecast for the Voice Prosthesis Devices And Equipment Market Size Through 2029?
The market size for voice prosthesis devices and equipment is projected to experience a significant surge in the coming years. The market value is anticipated to reach $2.16 billion by 2029, with a compound annual growth rate (CAGR) of 11.2%. This surge in the forecast period can be credited to factors such as the use of minimally invasive techniques, growth of emerging markets, supportive regulatory environment, and reimbursements, as well as advancements in telehealth and remote speech therapy. Key trends during the forecast period are expected to include enhancements in device materials, advancements in speech recognition technology, developments in customization and patient tailored solutions, as well as the emergence of rehabilitation apps and digital tools.
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What Are the Key Growth Drivers Fueling the Voice Prosthesis Devices And Equipment Market Expansion?
The voice prosthesis devices and equipment market is forecasted to grow due to the rising incidence of larynx cancers. Laryngeal cancer, another term for larynx cancer, is a type of cancer that originates in the larynx tissues, often referred to as the voice box. A common treatment for laryngeal cancer involves surgical removal of the larynx, known as total laryngectomy. This operation leads to the loss of the patient's natural voice, creating a demand for voice prosthesis devices from individuals subjected to a laryngectomy as they seek options for voice restoration. As per a report from the American Cancer Society, a health organization based in the United States, around 12,380 laryngeal cancer cases are forecasted in January 2023. Out of these, 9,900 cases will be in men and 2,480 in women. The disease is expected to cause approximately 3,820 deaths (3,070 men and 750 women) in 2023. As a result, the rise in larynx cancer cases is fostering the growth of the voice prosthesis devices and equipment market.
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What Are the Key Trends Driving Voice Prosthesis Devices And Equipment Market Growth?
Advancements in technology have significantly improved voice prosthesis devices and equipment, enhancing characteristics such as device lifespan, ease of maintenance for patients, and comfort during outpatient replacement procedures. For example, indwelling prostheses, specifically designed for low air resistance and optimal retention in the tracheoesophageal wall, have become the preferred valve. The success rate of these devices ranges from 40-90% and they provide excellent voice quality.
How Is the Voice Prosthesis Devices And Equipment Market Segmented?
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
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Which Companies Are Leading the Charge in Voice Prosthesis Devices And Equipment Market Innovation?
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 Healare 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
Which Regions Are Leading the Global Voice Prosthesis Devices And Equipment Market in Revenue?
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.
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Voice prosthesis devices are medical devices used to restore speech in patients who have undergone laryngectomy, typically due to laryngeal cancer. The market includes indwelling and non-indwelling voice prostheses, accessories, and replacement kits, along with supportive rehabilitation services.
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