Voice Prosthesis Devices And Equipment Market:
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The voice prosthesis devices and equipment market consists of sales of voice prosthesis devices and equipment and related services. Voice prosthesis devices and equipment are artificial devices that provide the capability to speak in patients who have undergone laryngectomy (removal of larynx). These devices are placed in the tracheo-esophageal puncture, an opening created between trachea (wind pipe) and esophagus (food pipe) by surgeons.
The global voice prosthesis devices and equipment market is expected to decline from $0.6 billion in 2019 to $0.5 billion in 2020 at a compound annual growth rate (CAGR) of -21.4%. The decline is mainly because of worldwide supply and demand mismatches of resources due to the COVID-19 outbreak. There is an inadequate production of Voice Prosthesis Devices And Equipment, hearing aid, hearing diagnostic, voice prosthesis, and other ENT-related devices due to the restrictions imposed by governments of various countries to shutdown factories or function with minimal staffing to contain the spread of virus and keep the staff safe. The market is then expected to recover and grow at a CAGR of 2.7% from 2021 and reach $0.7 billion in 2023.
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The voice prosthesis devices and equipment market has been geographically segmented into North America, Western Europe, APAC, Eastern Europe, South America and Middle East & Africa. The North American market is the largest market for voice prosthesis and is expected to continue to be the largest market during the forecast period.
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 malignant cancer cells form tissue in the larynx and cause sore throat and ear pain. According to NIDCD (National Institute on Deafness and Other Communication Disorders), 7.5 million people are suffering from voice related problems and according to American Cancer Society’s Publication, approximately 12,410 adults are expected to be diagnosed with Laryngeal cancer in 2019.
High equipment cost of voice prosthesis devices and equipment hampers the voice prosthesis devices and equipment market growth. High equipment costs refers to the replacement of prosthesis devices and equipment after a certain period of time. For instance, JAMA Otolaryngol Head Neck Surgery center found that 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, 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 FDA in November 2018 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) presented changes in 2017 that will come into force in 2020. The future of ENT devices is likely to be impacted by both modernization of FDA 510(k) pathway and forthcoming enforcement of new EU MDR regulations.
On January 11 2018, Atos acquired Heimomed Heinze GmbH & Co. KG – a medical technology company operating in Germany and Austria. This acquisition strengths the Atos groups presence in Germany and Austria. In conjunction with the acquisition, Atos’ customers will also gain access to Heimomed’s high-quality tracheostomy products.
Major players in the market are Atos Medical, Andreas Fahl Medizintechnik–Vertrieb, Servona, Acclarent, Inc. (A Subsidiary of Johnson & Johnson) and Karl Storz Gmbh & Co. Kg.
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