Rockville, Dec. 15, 2022 (GLOBE NEWSWIRE) -- According to a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global voice prosthesis devices market is valued at US$ 155.2 million in 2023 and is predicted to expand at a CAGR of 4.5% from 2023 to 2033. An artificial device called a voice prosthesis device is used to help laryngectomized patients speak. The tracheo-esophageal puncture, also known as the windpipe-food pipe junction, is where the voice prosthesis is inserted.
The voice prosthesis device market is primarily driven by the development of effective and cutting-edge technologies, a rise in public awareness, the growing use of minimally-invasive ENT surgeries, and the rising prevalence of laryngectomized patients. The demand for voice prosthesis devices is also benefitting from the rising adoption of these devices in emerging nations.
Based on product, voice prosthesis devices are segmented into non-dwelling voice prosthesis devices and in-dwelling voice prosthesis devices. In-dwelling voice prosthesis devices are technologically similar and offer superior voice quality. As a result, in-dwelling voice prosthesis devices are gaining traction.
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North America and Europe hold the major share of the global voice prosthesis devices market. According to the American Society of Clinical Oncology (ASCO), head and neck malignancies are the sixth most prevalent cancer forms worldwide. The number of patients suffering from such medical issues is sharply rising in recent years.
Key Takeaways from Market Study
- The global market for voice prosthesis devices is projected to reach US$ 241 million by 2033.
- Germany’s market is predicted to expand at a CAGR of 3.5% during the forecast period.
- Demand for voice prosthesis devices in China is expected to rise at an impressive CAGR of 7% during the forecast period.
- Sales of in-dwelling voice prosthesis devices are predicted to rise at a high CAGR of 5% from 2023 to 2033.
“Rising prevalence of larynx cancer and throat-related disorders is boosting voice prosthesis devices market growth,” says a Fact.MR analyst.
Segments of Voice Prosthesis Devices Industry Research
- By Device:
- Non-dwelling
- In-dwelling
- By End User:
- Hospitals
- Clinics
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Winning Strategy
To increase their market share, top companies are focusing on developing technologically sophisticated voice prosthesis devices, along with these manufacturers of voice prosthesis devices are also collaborating with others and forming partnerships to sustain their market position.
- Atos Medical, a laryngectomy care expert with a U.S. base of operations, purchased TRACOE medical in September 2021.
Key Companies Profiled
- Andreas Fahl Medical Technology Sales GmbH
- Atos Medical
- HEIMOMED Heinze GmbH & Co. KG
- Hood Laboratories
- InHealth Technologies
- Johnson & Johnson Services Inc
- Servona GmbH
- Smiths Medical
- Sonova
- Teleflex Incorporated
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global voice prosthesis devices market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the market based on device (non-dwelling voice prosthesis devices, in-dwelling voice prosthesis devices) and end user (hospitals, clinics), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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