Speaking Valves Market Size, Share & Trends by Material (Silicone, PVC), Application (Tracheostomy, Laryngectomy), End User (Hospitals, Ambulatory Surgical Centers), and Region - Global Forecast to 2029
Speaking Valves Market Size, Share & Trends
The speaking valves market is expected to generate a revenue of USD 128 million in 2029, with a revenue of USD 94 million in 2024 to register a CAGR of 6.4%. During the forecasted year, the growth of the speaking valves market can be attributed to the increasing number of chronic respiratory diseases like COPD, asthma, and neck injuries, which are leading to a growing number of tracheostomy and laryngectomy surgeries.
Other factors include favorable reimbursement scenarios provided by the government and technological advancements in speaking valves, such as reductions in aspiration, ease of use, enhanced swallowing, and the availability of different speaking valves that cater to the individual needs of patients.Emerging countries like India and China are expected to register the highest growth rates due to the rise in the geriatric population needing airway management, including speaking valves.
Rising awareness about the use of speaking valves also leads to higher adoption rates. Additionally, the increase in healthcare expenditures in several countries emphasizes increased quality of life and access to healthcare. Constant investments by players in product development and innovation contribute to the overall growth of this market.
Speaking Valves Market Trends
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Speaking Valves Market Dynamics
Driver: Increase in tracheostomy procedures
The rising number of cases of respiratory disorders, traumatic injuries to the neck, and chronic conditions that require prolonged ventilation, leading to tracheostomies, is a key driver for the expansion of the speaking valves market. With the increasing need for tracheostomy procedures, there is also a greater demand for devices such as speaking valves that improve patient quality of life and enable communication. According to the Global Tracheostomy Collaborative, more than 100,000 individuals in the US annually undergo tracheostomy procedures. Such funding initiatives are expected to support the further growth of the speaking valves market.
Restraint: High cost of tracheostomy procedures
The notable financial costs related to tracheostomy surgeries, comprised of pre-operative assessments, surgical interventions, post-operative management, and continuous provision of equipment and supplies, may discourage patients from opting for tracheostomy procedures. This could affect the expansion of the speaking valves market. For instance, the average cost of a tracheostomy procedure in the US is approximately USD 5,399. These high costs may limit the growth of the speaking valves market.
Opportunity: Opportunities for growth in developing economies
Major players in the speaking valves market could see development prospects from emerging economies, including South Africa, China, Brazil, and India. Emerging countries such as India and Brazil have some of the highest incidence rates of respiratory diseases like COPD, asthma, and bronchitis worldwide. Furthermore, factors contributing to this growth include the growing per capita income, increased investments in healthcare, the expansion of private-sector hospitals to rural areas, low infrastructure and treatment costs, as well as the availability of highly educated physicians. This, in turn, encourages the growth of the speaking valves market and contributes to the expanding use of speaking valves.
Challenge: Lack of awareness in emerging countries
Speaking valves are not widely recognized in emerging economies, which creates a serious problem for the market. Speaking valves are not widely known or used in developing nations despite their huge benefits for aspiration reduction, swallowing, communication, and improved psychological effects. A comprehensive approach is needed to address these issues, such as increasing healthcare workers' education and training about speaking valves, which can improve their awareness of and proficiency in managing patients who may benefit from speaking valves. Because of these barriers, the speaking valves market may find it challenging to grow.
Speaking Valves Ecosystem/Market Map
The largest share in the speaking valves industry in 2023 was held by the silicone segment, by material.
The speaking valves market is divided into three material categories: silicone, PVC, and other materials. Silicone dominates the market due to its biocompatibility, durability, and resistance to thermal and chemical degradation, making it well-suited for medical devices like speaking valves. Its biocompatibility ensures no allergic reactions or irritation. Silicone not only lasts long but also provides more comfort to patients than any other material. This results in regular repeat purchases from customers, establishing the silicone segment as a reliable and steady revenue source in the speaking valves market.
Tracheostomy segment accounted for the largest share of the speaking valves industry in 2023, by application.
The speaking valves market is categorized into three types based on application: tracheostomy, laryngectomy, and other applications. Tracheostomy holds the largest market share and experiences the highest growth rate in the global speaking valves market. This is due to the increasing number of tracheostomy surgeries performed for conditions such as asthma, COPD, and various other diseases. The rise in tracheostomy procedures has made speaking valves an invaluable device for patients, helping them communicate more easily, swallow more effectively, and reduce aspiration, among other benefits. These factors are driving the growth of this segment.
Hospitals segment dominated the speaking valves industry in 2023, based on end user.
The speaking valves market is segmented by end user into hospitals, ambulatory surgical centers, and other end users. In 2023, the hospitals segment held the largest share of the speaking valves market. Hospitals serve as the primary point of care for patients in need of speaking valves due to various procedures, such as tracheostomy, percutaneous tracheotomy, and laryngectomy surgery, which are carried out in operating rooms or hospital rooms. The substantial share of this end-user segment can be attributed to the strong preference for hospital-based treatment.
North America accounted for the largest share of the speaking valves industry in 2023.
The speaking valves market is divided into five primary regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2023, North America held the leading position in this market. This is mainly due to the advanced healthcare systems in the US and Canada. The speaking valves market in North America is expected to grow due to factors such as an increasing number of patients in the emergency department, high adoption of speaking valves after laryngectomy and tracheostomy, wide availability of advanced speaking valves, and an increase in the number of chronic respiratory diseases. These factors have significantly contributed to the expansion of the speaking valves market in North America.
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The major players in this market are Coloplast A/S (Denmark), Freudenberg Group (Germany), Passy-Muir, Inc. (US), Primed Halberstadt Medizintechnik GmbH (Germany), and Medtronic (Ireland). These players lead the market because of their extensive product portfolios and wide geographic presence.
Scope of the Speaking Valves Industry:
|
Report Metric |
Details |
|
Market Revenue in 2024 |
$94 million |
|
Projected Revenue by 2029 |
$128 million |
|
Revenue Rate |
Poised to Grow at a CAGR of 6.4% |
|
Market Driver |
Increase in tracheostomy procedures |
|
Market Opportunity |
Opportunities for growth in developing economies |
This report categorizes the speaking valves market to forecast revenue and analyze trends in each of the following submarkets:
By Material
- Silicone
- PVC
- Other Materials
By Application
- Tracheostomy
- Laryngectomy
- Other Applications
By End User
- Hospitals
- Ambulatory Surgical Center
- Other End Users
By Region
-
North America
- US
- Canada
-
Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
-
Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Middle East Africa
Recent Developments of Speaking Valves Industry
- In November 2021, Coloplast acquired Atos Medical. With this acquisition, Coloplast added a new business segment called Voice and Respiratory Care, focusing on patients with tracheostomy and laryngectomy.
- In October 2021, InHealth Technologies, the maker of Blom-Singer voice restoration and ENT products and a business unit of Freudenberg Medical, announced the commercial launch of the Blom-Singer SpeakFree HME Hands-free Valve created for people who have undergone a total laryngectomy.
Frequently Asked Questions (FAQ):
What are the recent trends affecting the speaking valves market?
Recent trends impacting the speaking valves market include the increasing global numbers of tracheostomies and laryngectomies, rising cases of respiratory diseases, and a favorable reimbursement scenario.
What are the major material types in the speaking valves market?
The speaking valves market is broadly segmented into silicone, PVC, and other materials. In 2023, the silicone segment took the lead. Silicone's biocompatibility and durability prioritize patient comfort, which translates into frequent repeat purchases by end users. .
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The objective of the study is to analyze the key market dynamics, such as drivers, opportunities, restraints, challenges, and key player strategies. To track company developments such as acquisitions, product launches, expansions, agreements, and partnerships of the leading players, the competitive landscape of the Speaking Valves Market to analyze market players on various parameters within the broad categories of business and product strategy. Top-down and bottom-up approaches were used to estimate the market size. To estimate the market size of segments and subsegments, the market breakdown and data triangulation were used.
The four steps involved in estimating the market size are
Secondary Research
In the secondary research process, various secondary sources such as annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard & silver-standard websites, regulatory bodies, and databases (such as D&B Hoovers, Bloomberg Business, and Factiva) were referred to identify and collect information for this study.
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources were mainly industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, service providers, technology developers, researchers, and organizations related to all segments of this industry’s value chain. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information as well as assess prospects.
The following is a breakdown of the primary respondents:
Breakdown of Primary Participants:
Note 1: Others include sales managers, marketing managers, and product managers.
Note 2: Companies are classified into tiers based on their total revenues. As of 2022/2023, Tier 1 = >USD 100 million, Tier 2 = USD 10 million to USD 100 million, and Tier 3 = <USD 10 million.
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|
COMPANY NAME |
DESIGNATION |
|
Innaumation Medical Devices Pvt. Ltd |
Consultant |
|
Primed Halberstadt Medizintechnik |
Global Business Development Manager |
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the speaking valves market's total size. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry have been identified through extensive secondary research
- The revenues generated by leading players operating in the speaking valves market have been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Global Speaking Valves Market Size: Bottom-Up Approach
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Global Speaking Valves Market Size: Top-Down Approach
Data Triangulation
After arriving at the overall market size by applying the process mentioned above, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Market Definition
A speaking valve is a medical device designed to be attached to a tracheostomy tube. It allows inhaling through the valve and closes when exhaling, enabling airflow through the larynx, mouth, and nose. A speaking valve can help restore the senses of smell and taste. It can quickly improve the patient’s ability to speak and swallow while reducing problems such as aspiration.
Key Stakeholders
- Senior Management
- End User
- Finance/Procurement Department
- R&D Department
Report Objectives
- To define, describe, segment, and forecast the global Speaking Valves market, by material, application, end user, and region
- To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
- To analyze the micro markets with respect to individual growth trends, prospects, and contributions to the overall speaking valves market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast the size of the market segments with respect to five regions, namely, North America, Europe, the Asia Pacific, Latin America and Middle East & Africa
- To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
- To track and analyze company developments such as product launches & approvals, partnerships, acquisitions, agreements, and other developments
- To benchmark players within the market using the proprietary Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product excellence
Available Customizations
MarketsandMarkets offers the following customizations for this market report.
Country Information
- Additional country-level analysis of the speaking valves market
Company profiles
- Additional five company profiles of players operating in the speaking valves market.
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company in the speaking valves market
Growth opportunities and latent adjacency in Speaking Valves Market