Voice Prosthesis Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

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.

Voice Prosthesis Devices Market Trends

In-Dwelling Voice Prosthesis Devices Segment is Expected to Hold the Significant Market Share Over the Forecast Period

The indwelling TE voice prosthesis device stays in place permanently and has to be removed and replaced by a clinician. The growth of the segment can be attributed to the rising geriatric population and product launches. 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. In-dwelling voice prosthesis devices are gaining clinical acceptance for speech rehabilitation in patients, especially in those with laryngeal and hypopharyngeal cancer.

Various advantages of the indwelling voice prosthesis devices are expected to propel the growth of the segment. The advantages are indwelling devices have a more robust construction, and device life is generally longer than that of non-indwelling devices. Indwelling devices have the distinct benefit that daily maintenance of the device is less dependent on the patient's ability. The benefits offered by the indwelling devices will likely positively affect demand over the forecast period.

Moreover, the increasing geriatric population is likely to increase market growth over the forecast period. For instance, according to a 2022 statistic published by the United Nations Population Fund, a large proportion of the living population is aged 15-64 in the United States and accounted for 65% of the total population in 2022. In addition, as per the same source, 17% of the population was aged 65 years and above in 2022.

North America is Expected to Hold a Significant Share in the Market over the Forecast Period

North America is expected to dominate the voice prosthesis market throughout the forecast period. This dominance is mainly owing to the increased incidence of tracheal cancers, the increased healthcare expenditure, and the availability of advanced healthcare infrastructure. For instance, as per the statistics updated by the American Society, an estimated 9,900 men and 2,480 women are expected to be diagnosed with laryngeal cancer in the United States by 2023. As a result of the increase in laryngeal cancer incidence in the region, the market for voice prosthesis devices is predicted to spike in the region over the forecast period.

Additionally, the significant burden of the geriatric population in the United States is expected to boost the demand for voice prostheses. For instance, data updated in February 2022 by HealthyPeople.gov shows that the population in the United States is aging unprecedentedly, and the population aged 65 or older is projected to reach 23.5% (98 million) by 2060 in the country. The laryngeal system is impaired with age, which makes voice prostheses necessary for the elderly population. and thus, a significant burden geriatric population is expected to propel the growth of the market.

Voice Prosthesis Devices Market Competitor Analysis

The global voice prosthesis devices market is moderately competitive and consists of several major players. Some prominent players currently dominating the market in terms of market share are acquiring the products and entering into partnerships with other companies to consolidate their market positions across the globe, while others are distributing products. Some companies currently dominating the market are Andreas Fahl Medizintechnik-Vertrieb GmbH, InHealth Technologies, Atos Medical AB, Servona GmbH, Teleflex Incorporated, and Smiths Medical.

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