Cover Corona Outbreak Impact: Voice Prosthesis Industry 2021 is expected to Boom in Coming Years

 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.

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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 hearing implants, 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.

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.