Voice Prosthesis Devices And Equipment Global Market Report 2023

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Feb 10, 2023, 13:00 ET

NEW YORK, Feb. 10, 2023 /PRNewswire/ -- Major players in the voice prosthesis devices and equipment market are Atos Medical, Andreas Fahl Medizintechnik–Vertrieb, Servona, Acclarent Inc, (A Subsidiary of Johnson & Johnson), Karl Storz Gmbh & Co. Kg, Smith & Nephew PLC, InHealth Technologies, HEIMOMED Heinze, Sonova Holding AG, and William Demant Holding A/S.

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The global voice prosthesis devices and equipment market will grow from $1.57 billion in 2022 to $1.77 billion in 2023 at a compound annual growth rate (CAGR) of 12.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The voice prosthesis devices and equipment market is expected to grow to $2.69 billion in 2027 at a CAGR of 11.0%.

The vice prosthesis devices and equipment market consist of sales of indwelling voice prosthesis devices and non-indwelling voice prosthesis devices.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Voice prosthesis devices and equipment provides the capability to speak in patients who have undergone laryngectomy (removal of the larynx). These devices are placed in the tracheoesophageal puncture, an opening created between the trachea (windpipe) and the esophagus (food pipe) by surgeons.

North America was the largest region in the voice prosthesis devices and equipment market in 2022.Asia Pacific was the second-largest region in the voice prosthesis devices and equipment market.

The regions covered in the voice prosthesis devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The main device types of voice prosthesis devices and equipment are indwelling voice prosthesis devices and non-indwelling voice prosthesis devices.Non-indwelling devices can be removed by the patient and are changed, creating a higher level of independence for the patient.

The product types used are soft valve assembly, hard valve assembly, and others.The valve types are blom-singer valve, provox valve, and Groningen valve that are made up of silicone rubber, silicone, fluoroplastic, silver oxide, and others.

The various end-users are hospitals, ambulatory surgical centres, and clinics.

The voice prosthesis device and equipment market is driven by an increasing number of cases of larynx cancer.Larynx cancer is a disease in which cancer cells form tissue in the larynx and cause a sore throat and ear pain.

According to the WHO, there were 99840 deaths reported in 2020 due to Larynx cancer.

High equipment cost of voice prosthesis devices and equipment hampers the voice prosthesis devices and equipment market growth.High equipment costs refer to the replacement of prosthesis devices and equipment after a certain period.

For instance, the JAMA Otolaryngol Head Neck Surgery center found that the average life of the prosthesis devices and equipment is 3-6 months after which the device has to be changed.

Technological advancements of voice prosthesis devices and equipment have increased various properties of devices including, a lifetime of the device, simple and easy maintenance by patients, and comfortable outpatient replacements. For instance, the Indwelling prostheses are designed to meet the criteria of low air resistance and optimal retention in the tracheoesophageal wall, these prostheses devices and equipment have become the valve of choice with the success rate of 40-90% having very good voice quality.

Medical devices including ENT surgical devices enter the market through FDA 510(K) premarket clearance pathway, As announced by the FDA, this regulation is set to undergo changes in which more efficient medical devices clearance process to introduce a new generation of safety, technology, and capabilities in medical devices.The EU's Medical Device Regulation (MDR) came into force in 2020.

The future of ENT devices is likely to be impacted by both modernizations of the FDA 510(k) pathway and the forthcoming enforcement of new EU MDR regulations.

In September 2021, Atos Medical, a US-based company, a specialist in laryngectomy care-acquired TRACOE medical for an undisclosed amount.This acquisition is combining companies will strengthen the ability to fast track the journey towards becoming a full range global player in the tracheostomy segment, through a combined hospital and direct-to-consumer model.

TRACOE medical is a Germany-based manufacturer of medical technology.

The countries covered in the voice prosthesis devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The voice prosthesis devices and equipment market research report is one of a series of new reports that provides voice prosthesis devices and equipment market statistics, including voice prosthesis devices and equipment industry global market size, regional shares, competitors with a voice prosthesis devices and equipment market share, detailed voice prosthesis devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the voice prosthesis devices and equipment industry. This voice prosthesis devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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