Global Voice Prosthesis Devices Market to grow substantially over 2020-2026

July 08, 2020

As per the report titled ‘Global Voice Prosthesis Devices Market Size study with COVID-19 impact, by Product Type (Non-dwelling Voice Prosthesis Devices, In-dwelling Voice Prosthesis Devices), by Valve Type (Blom-Singer, Provox, Groningen Valve), by End-User (Hospital, Clinics, Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global voice prosthesis devices market is expected to record an appreciable growth rate through 2026.

Increasing cases of laryngeal cancer and voice disorders across the globe, favorable reimbursement protocols, and rising patient awareness regarding the benefits of voice prosthetics are driving the industry growth. Further, existence of a large patient base, particularly in the age bracket of 35 to 55 years who are at an elevated risk of acquiring such diseases serves a major growth impetus for global voice prosthesis devices market, cites the report.

For the record, a voice prosthesis device is an equipment used in conjunction with voice therapy to aid laryngectomized patients in speaking. This device is made up of biocompatible materials such as silicon and is placed in the tracheoesophageal puncture. Advancements in surgical process have further eased the placement of voice prosthesis devices inside the patient body. Moreover, these devices have lower immunological complexities and high patient acceptance, which further encourages the transplant.  

Although voice prosthesis devices are witnessing an increased demand, high cost of procurement and maintenance along with associated complications of these devices may impede the industry growth over the analysis timeframe.

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In addition, the COVID-19 outbreak has severely impacted MedTech companies due to a decline in demand for medical devices and procedures as population remained confined in their houses during the lockdown period, which in turn, negatively impacts the global voice prosthesis devices market.

Geographically, North America accounted for a significant share of global voice prothesis devices market in the recent past. As per National Cancer Institute, more than 13,150 new cases of laryngeal cancer were recorded in 2018. Also, according to the National Institute on Deafness and Other Communication Disorders (NIDCD), there were over 7.5 million patients with voice disorders in U.S in 2016. High prevalence of voice disorders along with increasing healthcare spending and advanced healthcare infrastructure are supporting the industry expansion in North America.

Meanwhile, Asia Pacific market is slated to showcase a strong CAGR through 2026, owing to escalating cases of voice-related disorder and soaring consumption of alcohol & tobacco in nations like India and China.

Prominent players in global voice prosthesis devices market are Servona GmbH, Smiths Medical, Inc., HEIMOMED Heinze, InHealth Technologies, Andreas Fahl Medizintechnik - Vertrieb GmbH, Sonova, Johnson & Johnson Services, Inc., Teleflex Medical Europe Ltd., and Atos Medical.

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