Speaking Valves Market Size is valued at USD 90.9 million in 2023 and is predicted to reach USD 145.5 million by the year 2031 at a 6.16% CAGR during the forecast period for 2024-2031.
A speaking valve is a medical device that allows patients with tracheostomies to regain their speech ability. These valves facilitate inhalation of air into the lungs via the tracheostomy. The valves allow the patient to speak by re-directing airflow through the vocal cords whenever they exhale. The market growth of speaking valves is being propelled by the increasing knowledge of their benefits among both healthcare practitioners and patients. Healthcare providers are more inclined to suggest these devices to tracheostomy patients as their knowledge of their benefits grows.
Additionally, speaking valve devices help with communication, quality of life, and reducing the risk of problems. Furthermore, there has been a noticeable uptick in the proactive pursuit of speaking valves as both patients and caregivers get more knowledge regarding the restoration of speech abilities. Key factors fueling this rising awareness and resulting market expansion include training programs and improved patient results.
However, the high costs of speaking valves are a significant market constraint. Also, market growth is further hindered by low levels of knowledge in underdeveloped areas and the necessity of expert instruction to ensure correct use. Additionally, the speaking valves market was hit hard by the COVID-19 pandemic, which interfered with healthcare services and supply chains, delaying elective tracheostomy treatments.
However, speaking valve devices become more important because of the rising demand for respiratory treatment. Additionally, a number of factors are creating opportunities in the speaking valves market. These include innovations in healthcare technology, rising public consciousness about the importance of healthcare, an aging population, and an ever-increasing desire for patient-centered care.
Competitive Landscape
Some Major Key Players In The Speaking Valves Market:
- Coloplast A/S
- Freudenberg Group
- Passy-Muir, Inc.
- Primed Halberstadt Medizintechnik GmbH
- Medtronic
- Teleflex Incorporated
- Andreas Fahl Medizintechnik-Vertrieb GmbH
- Pepper Medical
- Boston Medical Products Inc.
- Parburch Medical Developments Ltd.
- Besmed Health Business Corp
- Benson Hood Laboratories, Inc.
- The Airway Company
- Prunus Medical
- Mednom
- Insight Medical Products Ltd
- Ashton India Private Limited
- Other Market Players
Market Segmentation:
The speaking valves market is segmented based on material, application, and end-user. Based on material, the market is segmented into silicone, PVC, and others. By application, the market is segmented into tracheostomy, laryngectomy, and others. The end-user segment contains hospitals, ambulatory surgical centers, and others.
Based On The Material, The Silicone Segment Is Accounted As A Major Contributor To The Speaking Valves Market
Silicone is expected to hold a major global market share in 2023 in the speaking valves market because it is biocompatible and long-lasting. Due to its lack of reactivity, silicone is safe to use for extended periods in medical devices, minimizing the likelihood of skin irritation or allergic responses. Additionally, its malleability also makes it a popular choice for speaking valve designs because it enables the creation of more comfortable and effective valve expansion in this market.
Hospitals Segment To Witness A Rapid Growth
The hospital segment is growing because hospitals are the main places where tracheostomy procedures and care after surgery happen, and speaking valves are often recommended there. Additionally, hospitals have specialized medical staff and modern medical equipment that makes sure speaking valves are fitted, monitored, and managed correctly. Speaking valves are also in high demand in hospitals because of the growing focus on patient rehabilitation and conversation in clinical settings.
In The Region, The North American Speaking Valves Market Holds A Significant Revenue Share
The North American-speaking valves market is expected to report the biggest market share in revenue in the near future because of the region's well-developed healthcare system, the high number of tracheostomy surgeries, and the emphasis on patient rehabilitation. The region’s market is growing thanks to rising awareness as well as supportive reimbursement regulations. In addition, the Asia Pacific is expected to grow rapidly in the speaking valves market because of a surge in healthcare spending, more public understanding of cutting-edge medical technology, an aging population, and better access to medical treatment in developing nations.
Recent Developments:
- In January 2024, Freevent DualCare paired a speaking valve with an HME. This allows patients to talk without using their hands and gives their lungs important heat and moisture. It only takes a twist of the speaking valve lid to switch from speaking mode to HME mode.
Speaking Valves Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 90.9 Mn |
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Revenue Forecast In 2031 |
USD 145.5 Mn |
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Growth Rate CAGR |
CAGR of 6.16% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Material, Application, End-User. |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Coloplast A/S, Freudenberg Group, Passy-Muir, Inc., Primed Halberstadt Medizintechnik GmbH, Medtronic, Teleflex Incorporated, Andreas Fahl Medizintechnik-Vertrieb GmbH, Pepper Medical, Boston Medical Products Inc., Parburch Medical Developments Ltd., Besmed Health Business Corp, E. Benson Hood Laboratories, Inc., The Airway Company, Prunus Medical, Mednom, Insight Medical Products Ltd, Ashton India Private Limited. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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