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Voice Prosthesis Devices Market Size
Voice Prosthesis Devices Market was valued at around USD 579 million in 2023 and is projected to witness around 6.7% CAGR from 2024 to 2032, due to the ongoing advancements in medical device, increasing prevalence of laryngeal cancer, rising focus on patient-centric care, an increase in head and neck cancer cases, and the continual growth of healthcare expenditure, among other contributing factors.
Moreover, laryngeal cancer is one of the leading indications for laryngectomy, a surgical procedure involving the partial or total removal of the larynx. As the incidence of laryngeal cancer rises globally due to factors such as tobacco use, alcohol consumption, and human papillomavirus (HPV) infection, the demand for voice prosthesis devices also increases. Voice prosthesis devices play a crucial role in restoring speech function for patients who have undergone laryngectomy, driving market growth.
Furthermore, increasing awareness about voice prosthesis devices among patients, caregivers, and healthcare professionals drives market growth. Education programs, patient advocacy initiatives, and support groups play a crucial role in raising awareness about voice restoration options and encouraging their adoption. Healthcare providers are increasingly recognizing the importance of voice rehabilitation and referring patients for evaluation and treatment with voice prosthesis devices, thereby contributing to the market growth.
How are hospitals influencing the demand for voice prosthetic devices?
The hospitals segment accounted for around USD 347.9 million revenue in 2023 and will grow significantly through 2032 as these settings have advanced diagnostic imaging technologies, surgical facilities, and multidisciplinary teams of healthcare professionals capable of diagnosing and treating laryngeal disorders effectively.
What is the size of the global voice prosthetics devices market?
The market size of voice prosthesis devices was reached USD 579 million in 2023 and is estimated to cross over USD 1.1 billion by 2032, attributed to the ongoing advancements in medical devices and increasing prevalence of laryngeal cancer.
Who are the major key players in the global voice prosthetic devices market?
Andreas Fahl Medizintechnik-Vertrieb GmbH, Atos Medical, HEIMOMED Heinze GmbH & Co. KG, Hood Laboratories, ICU Medical, Inc., InHealth Technologies, Innaumation Medical Devices Private Limited, Luminaud, Inc., Servona GmbH, and Teleflex Incorporated.
Why is North America voice prosthetic devices market developing?
North America voice prosthesis devices industry accounted for USD 247.2 million revenue in 2023 and is predicted to witness substantial growth through 2032 as the region has a relatively high incidence of laryngeal cancer, alongside the presence of advanced healthcare infrastructure, including state-of-the-art hospitals, specialized treatment centers, and academic medical institutions.