Electrolarynx Market Research, 2031
The global Electrolarynx Market Size market was valued at $409.5 million in 2021 and is projected to reach $703.0 million by 2031, growing at a CAGR of 5.5% from 2022 to 2031. An electronic larynx (electrolarynx) is battery-powered equipment that generates sound so that a person can speak. There are various makes and models, the electrolarynx is typically the size of a small electric razor. When a person wants to talk, this little, battery-operated gadget is put right on the neck, beneath the chin. The electrolarynx produces a vibration that is sent via the skin to the throat when the person presses a button on the device. It is essential to recollect the tone created through the electrolarynx, which is more robotic. During tracheoesophageal speech, an electrolarynx is an option for TE speech.
The key factors that drive the Electrolarynx Market Growth are the rise in the prevalence of laryngeal cancer and the surge in the consumption of alcohol and tobacco are the major factors drives the electrolarynx market. Moreover, a rise in the cases of human papillomavirus infection and a surge in the consumption of alcohol and tobacco, which increase the chance of laryngeal cancer, boosts the growth of the market. For instance, according to the report published by Cancer.Net in 2020, it has been reported that an estimated 12,470 adults (9,820 men and 2,650 women) in the U.S. are diagnosed with laryngeal cancer. It is also more common in men than in women. An estimated 184,615 people were diagnosed with laryngeal cancer in 2020, and 99,840 people worldwide died from laryngeal cancer. Thus, the rise in the number of people suffering from laryngeal cancer increases the demand for electrolarynx devices, which propels the growth of the market.
Furthermore, an increase in the adoption of technologically advanced electrolarynx devices and a surge in investments in R&D by pharmaceutical companies should boost the growth of the electrolarynx market. For instance, in 2019, Griffin Laboratories launched the Tru-Tone electrolarynx device, which is used to produce electronic speech in patients who don’t have voice prostheses. In addition, the high adoption of these medical devices and continuous investing in R&D by numerous key players for the launch of innovative and technologically advanced electrolarynx devices is the key Electrolarynx Market Opportunity in upcoming years.
However, the high cost of electrolarynx devices hampers market growth. Conversely, rising cases of hypopharyngeal cancer, the emerging healthcare market in developing countries, and low-income countries lacking access to basic healthcare, and an increase in the risk of laryngeal cancer are expected to provide a lucrative opportunity for the growth of the market during the forecast period.
The electrolarynx market is segmented on the basis of type, application, end-user, and region. By type, the market is segmented into external batteries and built-in batteries. By application, it is bifurcated into laryngeal cancer and speech rehabilitation. By end user, the market is segmented into hospitals, ambulatory surgical centers, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Type Segment Review
By type, the electrolarynx market is segmented into the external battery and built-in batteries. In 2021, the built-in battery segment accounted for the largest share of the market. The dominance of this segment can be attributed to the increasing prevalence of laryngeal cancer and the benefits provided by built-in battery electrolarynx devices as the batteries of these types of devices are rechargeable batteries that can be charged again after being discharged, thereby increasing the demand for built-in battery electrolarynx devices.
The external battery segment is anticipated to grow at a significant rate during the forecast period owing to a rise in the prevalence of laryngeal cancer and increases in demand for voice restoration devices to produce sound or to create a voice.
By Application Segment Review
By application, the electrolarynx market is segmented into laryngeal cancer and speech rehabilitation. In 2021, the laryngeal cancer segment accounted for the largest share of the market. The dominance of this segment can be attributed to rising in the number of populations and a surge in the consumption of alcohol and tobacco which causes laryngeal cancer.
The speech rehabilitation segment is anticipated to grow at a significant rate during the forecast period owing to the rising rate of hypopharyngeal cancer, which increases the demand for transoral video-laryngoscopy surgery and increase the availability of the device for speech rehabilitation is the key factor that drives the Electrolarynx Market Size in the upcoming year.
By End User Segment Review
By end user, the Electrolarynx Industry is segmented into hospitals, ambulatory surgical centers, and others. The hospital’s segment exhibited the highest growth in 2021 and is anticipated to lead during the forecast period, owing to an increase in the number of patients visiting hospitals for surgical procedures due to the rise in the prevalence of cancer also, hospitals are better equipped to handle any post-operative complications and include facilities for physical rehabilitation post surgeries.
The ambulatory surgical center segment is expected to witness considerable market growth during the forecast period, owing to a surge in demand for minimally invasive surgical procedures and an increase in the number of ambulatory surgical centers for laryngectomy surgery.
Region-wise, the electrolarynx market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a majority of the electrolarynx market share in 2021 and is anticipated to remain dominant during the forecast period owing to the high adoption rate of technologically advanced electrolarynx devices for laryngeal cancer, increase in healthcare expenditure, and the presence of major key players in the country and the strategies they adopt for the development of voice restoration products such as electrolarynx device.
Asia-Pacific is expected to register the fastest CAGR during the forecast period due to the rising consumption of alcohol and tobacco, highly populated countries along with a high rate of active smokers, and a high prevalence of hypopharyngeal cancer.
The key players that operate in the electrolarynx market are Atos Medical, Amplicord, Andreas Fahl Medizintechnik, Griffin Laboratories, NU-Vois, Labaex Trade, InHealth Technologies, Romet, SERVONA GmbH, and ULTRAVOICE Limited.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electrolarynx market analysis from 2021 to 2031 to identify the prevailing electrolarynx market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the electrolarynx market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional as well as global electrolarynx market trends, key players, market segments, application areas, and market growth strategies.
Electrolarynx Market Report Highlights
Aspects | Details |
Market Size By 2031 | USD 703 million |
Growth Rate | CAGR of 5.5% |
Forecast period | 2021 - 2031 |
Report Pages | 190 |
By Type |
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By Application |
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By End user |
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By Region |
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Key Market Players | Griffin Labs, Inhealth Technologies, AMPLICORD DI GABRIELLA SALVATORE, Atos Medical AB, Nu-Vois, LLC, Romet Limted, Andreas Fahl Medizintechnik - Vertrieb GmbH, Ultravoice Limited, Servona GmbH, Labex Trade |
Analyst Review
This section provides various opinions of top-level CXOs in the electrolarynx market. According to several interviews conducted, the electrolarynx market is expected to witness significant growth in the future, owing to the increasing rate of the smoking population, which is a notable factor augmenting the prevalence of laryngeal cancer.
According to the perspectives of CXOs, the electrolarynx market is expected to witness steady growth in the future. The rise in the prevalence of laryngeal cancer an increase in the number of people suffering from respiratory disease caused by human papillomavirus infection and changes in lifestyle, such as a rapid increase in the number of people smoking, are anticipated to fuel the market's growth. The surge in investments in R&D by pharmaceutical companies, growing healthcare expenditure, and rise in technological advancement are the key factors driving the growth of the market.
However, the high cost of the electrolarynx device will hamper the growth of the market to some extent over the forecast period. On the contrary, emerging economies such as India, China, Mexico, and Brazil provide lucrative opportunities for the growth of the market through the introduction of technologically advanced medical devices for voice restoration in developing countries.
In addition, emerging markets are gaining importance for the majority of technologically advanced voice restoration devices, such as electrolarynx devices. Rapid growth was observed in the shipment of these devices to provide improved healthcare services in emerging nations, and this is expected to offset the challenging conditions in mature markets, such as North America and Europe. As per CXOs, North America is expected to dominate the global electrolarynx market during the forecast period, followed by Europe.
The key trends in the Electrolarynx market report are an increase in the incidence of laryngeal cancer and, an increase in the adoption of technologically advanced electrolarynx devices.
North America accounted for a majority of the electrolarynx market share in 2021 and is anticipated to remain dominant during the forecast period.
The market value of the electrolarynx market in 2021 was 409.55 million.
The forecast period in the report is from 2022 to 2031.
The top companies to hold the market share in Electrolarynx are Atos Medical, Amplicord, Andreas Fahl Medizintechnik, Griffin Laboratories, NU-Vois LLC, Labaex Trade, InHealth Technologies,Romet, Servona GmbH, and Ultravoice Limited.
No, there is value chain analysis provided in the electrolarynx market report
The estimated industry size of Electrolarynx market in 2031 will be $703.0 million.
The base year for the report is 2021.
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