Market Size of Global Voice Prosthesis Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.60 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Voice Prosthesis Devices Market Analysis
The voice prosthesis devices market is expected to register a CAGR of 5.6% during the forecast period.
The outbreak of COVID-19 led to clinical operations delays, which significantly impacted the market's growth during the pandemic. For instance, as per the annual report of Smith & Nephew published in June 2021, ear, nose, and throat (ENT) device companies, including major players such as Smith & Nephew and Cochlear Limited, saw clinical trial delays. The net sales also witnessed a decline, which was primarily caused by the postponed procedures for ENT due to COVID-19. According to a study published in the Australian Journal of Otolaryngology in July 2022, following the COVID-19 epidemic, the number of patients spending time on ENT elective surgery waiting lists increased significantly, as did the likelihood that these patients exceeded their prescribed surgery waiting times in New South Wales (NSW) and Victoria (Vic). However, as the restrictions were lifted, the market experienced a huge surge in ENT surgeries, which boosted the market growth.
The major factors contributing to the growth of the voice prosthesis devices market are the rise in the global prevalence of cases resulting in sore throats and ear pain. Besides, the proportion of people living unhealthy lifestyles such as smoking, alcohol, and tobacco consumption is increasing, which is also leading to the increased risk of cancer. For instance, according to the Throat Cancer Statistics 2022, laryngeal carcinoma is the 22nd most prevalent cancer in the United States. Cancer of the larynx accounted for 0.7% of all new cancer cases and 0.6% of all cancer deaths in 2021. In addition, about 12,380 new cases of laryngeal cancer are anticipated to be diagnosed by 2023. Thus, an increase in laryngeal cancer is expected to increase laryngectomy rates, thereby boosting the demand for voice prosthetics.
Moreover, various strategies adopted by the market players, such as mergers and acquisitions, partnerships, and product launches are expected to propel the growth of the studied market. For instance, in July 2021, Atos acquired Heimomed Heinze GmbH & Co. KG, a med-tech company that manufactures high-quality tracheostomy products. With this acquisition, Atos has expanded its footprint in Germany and Austria, thus fueling the market growth. Additionally, in October 2021, InHealth Technologies, a Freudenberg Medical business company, announced the commercial debut of the Blom-Singer SpeakFree HME Hands-Free Valve, which was designed for persons who have had a total laryngectomy. The SpeakFree HME cartridge is the first single-use heat and moisture exchange (HME) cartridge with an adjustable valve that does not require manual closing to talk.
While these developments indicate potential market growth, the high cost of voice prosthesis devices and the devices' short life span (about 3-6 months) are likely to stymie the growth of the voice prosthesis devices market.
