The Global voice prosthesis devices market is expected to grow at an approximate CAGR of 5.6% during forecast period, 2018–2023.
Rising cases of laryngeal cancer is boosting the voice prosthesis devices market. According to the National Cancer Institute, around 13,150 new cases of laryngeal cancer were registered in 2018, which is around 0.8% of all new cancer cases.
Various other factors such as increasing cases of throat cancer, technological advancements, favourable reimbursement, presence of a large target patient population and rising patient awareness regarding the benefits of voice prosthesis devices are also expected to propel the growth of the market.
However, complications associated with voice prosthesis device, and high cost of device can hamper the market growth over the forecast period.
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Market Segmentation
The Global voice prosthesis devices market is segmented based on product type, valve type, end user and region.
The global market for voice prosthesis devices, by product type is segmented into indwelling voice prosthesis devices and non-dwelling voice prosthesis devices. The indwelling voice prosthesis devices market is expected to command the largest market share over the review period due to increasing cases of voice disorders.
The market, by valve type, is segmented into Blom-Singer valve, Provox valve, and Groningen valve
Based on end user, voice prosthesis devices market is segmented into hospitals, clinics, diagnostic centers, ambulatory surgical centers, research & academic institutes.
Key Players
Some of the key players in the global voice prosthesis devices market are Atos Medical, Teleflex Medical Europe Ltd., Johnson & Johnson Services, Inc., Sonova, Andreas Fahl Medizintechnik – Vertrieb GmbH, InHealth Technologies, HEIMOMED Heinze, Smiths Medical, SERVONA GmbH, and others.
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Regional Analysis
The Americas dominated the global market for voice prosthesis devices owing to presence of major market players and increased prevalence of voice disorders within the region. According to the American Speech-Language-Hearing Association, voice disorders have been estimated to be present in between 3% to 9% of the US population. It is also reported that the prevalence is higher in adult females than in adult males i.e. 1.5:1.0.
Europe is expected to hold the second largest position in the global voice prosthesis devices market. The market growth in this region is attributed to the improvement in healthcare related research & development activities.
Asia Pacific was projected to be the fastest growing region in 2017. Factors such as, growing cases of throat cancer, increasing healthcare expenditure, and increasing participation of healthcare organizations drives the regional markets of the Asia Pacific region.
On the other hand, the Middle East and Africa held least share in the global voice prosthesis devices market due to the low per capita income, especially within the African region.
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