PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1546364
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1546364
The speaking valves market is valued at an estimated USD 94 million in 2024 and is projected to reach USD 128 million by 2029 at a CAGR of 6.4% during the forecast period. With increase in tracheostomy and laryngectomy surgeries the speaking valves market is expected to grow as speaking valve is placed on patients finding it difficult to communicate after these surgeries, so speaking valve helps in bring back the speech and facilitating communication. By facilitating communication, it makes great positive impact on mental health which helps in fast recovery. Additionally, government and private players continuously trying to raise awareness and knowledge about speaking valves and ensuring that they are readily available to the people who need them. Such initiatives are expected to increase the use of speaking valves in the coming years.
Scope of the Report | |
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Years Considered for the Study | 2022-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Million) |
Segments | Material, application, and end user |
Regions covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
"Silicone segment accounted for the highest growth rate in the speaking valves market, during the forecast period."
Based on Material, the speaking valves market is bifurcated into silicone, PVC and other materials. The silicone segment in the speaking valves market is experiencing substantial growth. Silicone speaking valves are the preferred choice because of their biocompatibility. They offer comfort, safety, durability, and hygienic properties, making them a reliable option for patients.
The tracheostomy patient experience extreme discomfort In order to cater to this need, there are medical devices such as speaking valves which provide comfort to the patients due to its material. Silicone speaking valves are biocompatible, hence compatible with the human tissue, thereby reducing adverse body reactions and ensuring safety in case of extended exposure to sensitive parts of the body. Silicone can withstand extreme temperatures and endure exposure to chemicals without degradation, thus being reliable under numerous conditions. Not to forget, its unparalleled flexibility allows silicone to produce precisely molded valves to meet individual needs, proving them to be the best available product in the market.
"Hospitals segment is expected to have the fastest growth rate in the speaking valves market, by end user, during the forecast period."
The speaking valves market is segmented into hospitals, ambulatory surgical centers and other end users, based on end user. Hospitals segment is expected to account for the highest CAGR during the forecast period. This growth can be attributed to factors like the high preference for hospital-based treatment, increasing investments in healthcare infrastructure, and the presence of the specialized expertise required for placement of speaking valves. These factors can account for the growth of this segment.
"Asia Pacific: The fastest-growing region in speaking valves market."
The worldwide market for speaking valves is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to experience the most substantial growth in the forecast period. In Asia Pacific region, there is a significant increase in chronic illnesses like respiratory problems, cancer, and neurological disorders in the area, leading to a higher demand for tracheostomies resulting in increased market for speaking valves. Moreover, governments in the region are making substantial investments in healthcare infrastructure and technology and in countries like India government is providing favourable reimbursement to boost facilitate access to healthcare. This confluence of factors is propelling the speaking valves market within the Asia Pacific region.
The key players in this market are Coloplast A/S (Denmark), Freudenberg Group (Germany), Passy-Muir, Inc. (USA), Primed Halberstadt Medizintechnik GmbH (Germany), Medtronic (Ireland), Teleflex Incorporated (US), Andreas Fahl Medizintechnik-Vertrieb GmbH (Germany), Pepper Medical (US), Boston Medical Products Inc. (US), Parburch Medical Developments Ltd. (England), Besmed Health Business Corp (Taiwan), E. Benson Hood Laboratories, Inc. (US), The Airway Company (US), Prunus Medical (China), Mednom (South Africa), Insight Medical Products Ltd (UK), Ashton India Private Limited (India).
This research report categorizes the speaking valves market by material (Silicone, PVC and other materials), by application (tracheostomy, laryngectomy and other applications), by end user (hospitals, ambulatory surgical centers and other end users), and region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, opportunities, and challenges influencing the growth of the speaking valves market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, key strategies, acquisitions, and agreements. New product & service launches, and recent developments associated with the speaking valves market. Competitive analysis of upcoming startups in the speaking valves market ecosystem is covered in this report.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall speaking valves market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.