The latest market report published by Credence Research, Inc. “Global Voice Prosthesis Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global voice prosthesis market was valued at US$ 133.5 Mn in 2017, and is expected to reach US$ 204.3 Mn by 2026, expanding at a CAGR of 4.9% from 2018 to 2026.
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Market Insights:
Voice prosthesis device is an artificial device which helps in voice restoration of patients undergone laryngectomy. The material used in the making of the voice prosthesis device is of medical grade and highly biocompatible with negligible immunological response. The surgery process is also highly advanced which creates less problem during fixing of voice prosthesis device.
Provox valves are reigning the valve type segment for voice prosthesis market. It has the ability to detect early leakage around the valve, low speaking effort and low maintenance cost which increases its saleable value over the other valves. Provox HMEs have the ability to reduce mucus generation and coughing by heating and filtering the inhaled air. There is less reduction in candida infection. Blom-singer valve are gaining importance due to its popularity as the international standard for voice restoration throughout the globe. It is used in patients showing resistance to remove voice prosthesis device.
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Indwelling devices are dominating the device segment for voice prosthesis market. Its inherent features such as excellent patient satisfaction and provision of high voice quality drive its market growth. It is highly safe device and is replaced only under the supervision of a medical professional. Non-dwelling devices are employed due to its self-replacement capability and low maintenance.
North America currently represents 40% market share and is the largest regional segment for voice prosthesis market. Rising prevalence of larynx cancer and affordable reimbursement scenario for the voice prosthesis devices drive the market growth in North America region. Europe holds 31% market share and is the second largest market owing to supportive regulatory environment provided by European Medical Agency (EMA) and domicile of major players such as Andreas Fahl Medizintechnik-Vertrieb GmbH, SERVONA GmbH and Teleflex Medical Europe Ltd. etc.
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propel the market growth in Europe region. Asia Pacific is accountable for 17% market share on account of increasing number of patients suffering with larynx disorder due to increased consumption of alcohol and tobacco and emergence of local players actively engaged in production of devices at lower and affordable prices.
Companies manufacturing voice prosthesis devices are Andreas Fahl Medizintechnik-Vertrieb GmbH, Atos Medical, InHealth Technologies, Innaumation Medical Devices, Johnson & Johnson Services, Inc., Hood Laboratories, Sonova, SERVONA GmbH, Smiths Medical, Inc. and Teleflex Medical Europe Ltd.
Key Market Movements:
• Increasing number of patients suffering with larynx disorders worldwide
• Favorable reimbursement scenario for voice prosthesis devices in developed regions
• Emergence of local players in developing region actively engaged in producing voice prosthesis devices at lower and affordable prices
Charlie Gefen
Credence Research Inc
gefen.c@credenceresearch.com
https://www.credenceresearch.com