Rising Sales of Indwelling Voice Prostheses Spurs Growth Momentum of Voice Prosthesis Devices Market, M&A Activities Key Strategy for Consolidation: TMR

ALBANY, N.Y., March 4, 2021 /PRNewswire/ -- Voice prosthesis devices are gaining clinical acceptance for speech rehabilitation in patients, especially in patients with laryngeal and hypopharyngeal cancer. Total laryngectomies in particular considerably affect the quality of life of patients, along with psychological distress. Medical technology companies have been offering indwelling voice prostheses for adults following the total laryngectomy to enable them to communicate verbally with high clinical outcomes. The drive for voice prosthesis devices market stems from this factor. Compared to other product segments, indwelling voice prostheses are technology-wise simpler and also are usually affordable for the patient population. These factors had helped the segment to occupy the major market share in 2017. Advancing cancer care for patients with head and neck cancers in North America and Europe is expanding the demand in the global voice prosthesis devices market.

Clocking CAGR of 4.5% during 2018 - 2026, the market is projected to reach worth of US$190 million, globally, by the end of 2026.

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Key Findings of Voice Prosthesis Devices Market Study

• Cancer Care Centers Spurs Sales

Growing treatment options for neck and head cancers has advanced care for these patients and help reduce the debilitating effects. A prominent case in point is the rise in demand for indwelling voice prostheses for young and older adults after total laryngectomies. Tertiary cancer care centers in a number of economies have seen the demand for these in improving the speech mechanics substantially. The marked morbidity and mortality of laryngeal cancers has spurred the demand for indwelling or non-indwelling voice prostheses in helping patients regain their speech. For instance, laryngeal cancers represent one-third of all neck and head cancers. Various end users are ambulatory surgical centers and specialty clinics.

In the U.S. alone, per a recent estimate published in the NCBI, around 13,000 laryngeal cancer patients, notably squamous cell cancers, are found every year. Smoking and especially marijuana smoking has been a key part of the etiology of the disease.

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• Developed Nations to See Scope of Cutting-edge Technologies

The voice prosthesis devices market is witnessing strides on the back of relentless focus of manufacturers and vendors to make next-gen technology available to the target population. Manufacturers are focusing on improving the longevity of voice prosthesis. In addition, they are launching cost-effective devices with improved clinical effectiveness and ease-of-use. Improvements of guidelines in developed nations has spurred the demand for cutting-edge technology development. Some of the attributes are ease of maintenance and cleaning for the user. Companies in voice prosthesis devices market are focusing on expanding the choice for the target patient population.

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Voice Prosthesis Devices Market: Competitive Dynamics

Relatively few players exercise control over the forces of demand and supply in the voice prosthesis devices market. The competitive landscape is thus moderate or low. This also means that that barrier to entry is low, leaving abundant scope for investment by new players. This has attracted medtech companies making plans to gain a foothold in the voice prosthesis devices market. Top players aim at mergers and acquisitions (M&A) to retain their stronghold during the forecast period.

Some of the key industry players in the market are E Benson Hood Laboratories, Smiths Medical, Servona GmbH, Atos Medical, and InHealth Technologies.

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Market: Key Drivers and Avenues

• Growing focus on improving the diagnosis and treatment for larynx cancer is boosting the market
• Improving reimbursement frameworks will expand the sales prospects
• Rise in number of laryngectomy patients in Asia Pacific boosting market
• Growing healthcare budgets in developing regions to expand the potential

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