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Voice Prosthesis Devices Market Snapshot
The voice prosthesis devices market is slated to have a healthy growth during the evaluation period as the cases related to voice issues are increasing. This factor has also elevated the acceptability level of the product around the globe. National Institute on Deafness and Other Communication Disorders (NIDCD) reports that around 7.5 million or more people in the United States (U.S) are afflicted with voice issues. Moreover, currently manufacturers are striving to customize the voice prosthesis device size so that it can be easily fixed inside the patient’s body, and can function more effectively.
With that said, the high costs of voice prosthesis device could have a debilitating effect on the market growth in the future. But, with the growing prevalence of voice related issues in low- and middle-income countries owing to the lack of oral sanitation along with excessive consumption of alcohol and tobacco, the voice prosthesis market will be presented with several growth opportunities in the subsequent years.
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The demand for voice prosthesis has increased over the years with the increasing acceptability as well as awareness pertaining to voice prosthesis devices. Also, with the rise in viable reimbursement scenarios within the developing regions for a variety of conditions, the voice prosthesis market is bound to display a gainful performance in the coming years.
The global voice prosthesis devices market is projected have a lucrative run at the growth rate of 5.6% during the forecast period (2018-2023), reports Market Research Future (MRFR). Voice prosthesis devices find massive demand amongst the patients that suffer from voice problem, which is generally brought on by old age. The most affected patients are in the age group of 30 to 50, who mostly benefit from voice prosthesis devices. The voice prosthesis devices are developed using medical grade materials like silicone rubber as well as other materials that exhibit less immunological rejection inside the patient’s body. At present, numerous researches are being conducted by the public and private research institutes to advance the materials
Voice Prosthesis Devices Market Regional Insight
MRFR has analyzed the latest geographical trends of the voice prosthesis devices market in the regions of Europe, Asia Pacific, the Americas, and the Middle East & Africa.
The Americas covers the most substantial portion of the global voice prosthesis devices market, due to the mere presence of prominent vendors along with the growing prevalence of voice disorders in the region. As per the American Speech-Language-Hearing Association, voice disorders affect 3% to 9% of the total population in the United States (U.S). Another report suggests that the prevalence of voice related issues is higher in females compared to males, with the ratio being 1.5:1.0.
Europe is making similar strides as the Americas, garnering the second most significant share in the global voice prosthesis devices market on account of the hike in the research & development activities related to healthcare and the subsequent rise in sophisticated medical devices.
In 2017, Asia Pacific was identified as the fastest expanding region in the global market. The critical factors responsible for the lucrative performance of the regional market include the increasing cases of throat cancer, growth in healthcare expenditure, and the hike in the participation of healthcare organizations. For instance, Healthcare Global Enterprises (HCG), India, had developed a low-cost voice prosthesis device for those afflicted with throat cancer. This is indicative of the emergence of innovative products and technological advancements taking place in the region, thereby pushing the growth of the market.
Lastly, the Middle East and Africa managed to acquire the least share in the global voice prosthesis devices market with reasons being low per capita income and poor healthcare infrastructure, especially in the African region.
Voice Prosthesis Devices Market Segmentation
The worldwide voice prosthesis devices market is segmented on the basis of product type, valve type and end user.
The voice prosthesis devices market, depending on the product type, is considered for indwelling voice prosthesis devices and non-dwelling voice prosthesis devices. Between these, the indwelling voice prosthesis devices market will be projecting the maximum growth over the assessment period, backed by the growth in the cases of voice disorders across the globe.
The valve types covered by the report are Blom-Singer valve, Provox valve, and Groningen valve. Provox valves are the ruling segment in the voce prosthesis market. The built-in features of provox valves including the ability of detecting early leakage around the valve, less requirement to maintain the device and the low speaking effort needed are responsible for its exceptional growth in the worldwide market.
The end users in the voice prosthesis devices market are hospitals, clinics, diagnostic centers, ambulatory surgical centers, research & academic institutes. Out of these, the hospitals segment is expected to seize the biggest market share based on the rising cases of laryngeal cancer. Furthermore, the diagnostic centers are presumed to surge at the best growth rate on account of the elevated demand for early diagnosis.
Prosthesis Devices Market Developments
A low-cost voice prosthesis device known as Aum Voice Prosthesis has been developed at a Bangalore hospital. An imported platinum-cured medical-grade silicone, as well as various other materials, have been used to develop Aum Voice Prosthesis, which measures 2.5 cm in length and weighs around 25 grams.
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Prosthesis Devices Market Top Vendors
Some of the top vendors in the global voice prosthesis devices market include Teleflex Medical Europe Ltd., InHealth Technologies, Sonova, Smiths Medical, Atos Medical, HEIMOMED Heinze, SERVONA GmbH, Andreas Fahl Medizintechnik – Vertrieb GmbH, Johnson & Johnson Services Inc., and others.
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