Voice Prosthesis Devices Market by Product and Geography - Forecast and Analysis 2022-2026

The voice prosthesis devices market share is expected to increase to USD 1.08 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.44%.

The report extensively covers voice prosthesis devices market segmentations by the following:

• Product - Indwelling voice prosthesis devices and non-indwelling voice prosthesis devices
• Geography - North America, Europe, Asia, and Rest of World (ROW) 

The voice prosthesis devices market report offers information on several market vendors, including Andreas Fahl Medizintechnik Vertrieb GmbH, Atos Medical AB, ICU Medical Inc., Johnson and Johnson, KARL STORZ SE and Co. KG, NOK Corp., and Servona GmbH among others.

This voice prosthesis devices market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.

What will the Voice Prosthesis Devices Market Size be During the Forecast Period?

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Voice Prosthesis Devices Market: Key Drivers, Trends, and Challenges

The growing incidences of laryngeal cancer is notably driving the voice prosthesis devices market growth, although factors such as the high cost of devices and procedures may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the voice prosthesis devices industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Voice Prosthesis Devices (VPD) Market Driver

The growing incidences of laryngeal cancer is one of the key drivers supporting the voice prosthesis devices (VPD) market growth. For instance, the American Cancer Society's most recent estimates for laryngeal cancer in the United States for 2022 are about 12,470 new cases of laryngeal cancer who will die from laryngeal cancer. This is due to the high tobacco and alcohol consumption and human papillomavirus (HPV) infection that increases the risk of laryngeal cancer. Owing to the growing number of new cancer cases, the demand for voice prosthesis devices is increasing. Further, the easy availability of cancer screening programs can also increase the adoption of these devices. Such factors will drive the growth of the global voice prosthesis devices (VPD) market during the forecast period.

Key Voice Prosthesis Devices (VPD) Market Trend

Product bundling is one of the key VPD market trends that is contributing to market growth. Many companies are implementing product bundling strategies and offering a combination of two or more products or services. For instance, InHealth Technologies provides the Blom-Singer Voice Prosthesis Placement Surgical Kit, which is designed to be used during surgery for primary or secondary placement of a tracheoesophageal puncture and voice prosthesis. It includes a trocar, a catheter, and a pharynx protector. This strategy helps in product differentiation, leading to the availability of advanced product offerings. Hence, end-users prefer such packaged offerings to individual products as they are more cost-effective and can help in reducing the out-of-pocket expenditure of patients. Such increasing preferences will propel the growth of the global VPD market during the forecast period.

Key Voice Prosthesis Devices (VPD) Market Challenge

The high cost of devices and procedures is one of the factors hindering the voice prosthesis devices (VPD) market growth. Many small- and medium-sized clinics cannot order and prepay for a minimum stock of different brands and sizes of devices due to a lack of budget. However, the cost of replacing the voice prosthesis device may become an unexpected obstacle. Revisit, or failure in the treatment can also increase the cost burden for patients. Moreover, some people cannot afford these voice restoration services owing to the high cost of consultation and procedure. Hence, the high cost of voice prosthesis devices and surgical procedure results in budget constraints for the patients, which reduces the adoption rate globally. Such factors will drive the voice prosthesis devices (VPD) market growth during the forecast period.

This voice prosthesis devices (VPD) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global voice prosthesis devices (VPD) market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the voice prosthesis devices market during the forecast period.

Who are the Major Voice Prosthesis Devices Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Andreas Fahl Medizintechnik Vertrieb GmbH
• Atos Medical AB
• ICU Medical Inc.
• Johnson and Johnson
• KARL STORZ SE and Co. KG
• NOK Corp.
• Servona GmbH

 

This statistical study of the VPD market encompasses successful business strategies deployed by the key vendors. The voice prosthesis devices market is concentrated and the vendors are deploying organic and inorganic growth strategies such as to compete in the market.

Product Insights and News

• Andreas Fahl Medizintechnik Vertrieb GmbH - Through the unified segment, the company offers manufacturing of medical devices such as clinic products, trachealkanulen, voice prostheses, LARYVOX  systems, speaking valves, tracheal suction devices, and tracheostomaschutz. 
• Andreas Fahl Medizintechnik Vertrieb GmbH - The company offers voice prosthesis devices such as Blom Singer CLASSIC indwelling voice prosthesis 16 Fr. Sterile, Blom Singer CLASSIC indwelling LESL voice prosthesis, Blom Singer ADVANTAGE indwelling voice prosthesis hard valve assembly 20 Fr, and Blom Singer CLASSIC indwelling voice prosthesis 20 Fr. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The voice prosthesis devices market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Voice Prosthesis Devices Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the VPD market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Voice Prosthesis Devices Market?

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37% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for the voice prosthesis devices market in North America. Market growth in this region will be faster than the growth of the market in ROW.

The rise in the geriatric population will facilitate the VPD market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 severely impacted the voice prosthesis devices market in North America. However, the lifting of lockdown restrictions and the adoption of online sales platforms have increased the demand for voice prosthesis devices in the region. Such factors are expected to drive the regional voice prosthesis devices (VPD) market during the forecast period.

What are the Revenue-generating Product Segments in the Voice Prosthesis Devices Market?

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The VPD market share growth by the indwelling voice prosthesis devices segment will be significant during the forecast period. The indwelling voice prosthesis devices segment accounted for 75% share of the global voice prosthesis devices market. This is due to the increase in the prevalence of laryngeal disorders and the increase in the adoption of laryngectomy devices. Indwelling voice prosthesis devices are placed by a physician or a speech-language pathologist (SLP). This is the easiest and most comfortable voice rehabilitation procedure, which is done under general anesthesia. Vendors are focusing on business strategies such as clinical studies, product distribution partnerships, and product bundling to boost their market share. These strategies will drive the segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the VPD market size and actionable market insights on post COVID-19 impact on each segment.

 

Voice Prosthesis Devices Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 5.44%
Market growth 2022-2026	$ 1.08 billion
Market structure	Concentrated
YoY growth (%)	4.29
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 37%
Key consumer countries	US, Canada, France, China, and India
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Andreas Fahl Medizintechnik Vertrieb GmbH, Atos Medical AB, ICU Medical Inc., Johnson and Johnson, KARL STORZ SE and Co. KG, NOK Corp., and Servona GmbH
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Voice Prosthesis Devices Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive voice prosthesis devices market growth during the next five years
• Precise estimation of the voice prosthesis devices market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the voice prosthesis devices industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of voice prosthesis devices market vendors

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