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. 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.
Browse in-depth TOC on "Speaking Valves Market
140 - Tables
50 - Figures
173 – Pages
Market Segmentation
Based on material, the global market of speaking valve can be segmented into silicone, pvc and other materials.In 2023, silicone accounted for the largest share of the speaking valves market amongst other material.The silicone segment hold the largest share of the global market of silicone dur to its biocompatibility. Silicone biocompatibility helps in minimizing the risk of irritation of any kind or allergic reactions, which makes silicone safe to use for a long-term. Apart from its durability, silicone provides comfort to patients using silicone valve. These benefits of silicone speaking valves is the reason for the frequent repeat purchases.Thus, establishing this segment as a reliable and expected revenue stream within the global speaking valves market.
Based on application, the global speaking valves market is segmented into tracheostomy, laryngectomy and other applications. The tracheostomy segment is projected to register highest growth rate and market share of the global speaking valves market. Tracheostomy segmemt is expected to grow because of the increasing number of respiratory disorders like COPD, asthma leading to higher tracheostomy procedures happening globally. Thus, with increase in tracheostomy the growth of speaking valves market is increase in the forecasted year.
Based on end user, the global speaking valves market is segmented into hospitals, ambulatory surgical centers, and other end users. In end user segment the Hospitals held for the largest share of the global speaking valves market. The dominant share of the this segment can be attributed to the preference of speaking valves patients for hospital-based treatment. This is because of the availability advanced equipment and skilled personnel and in hospitals setting as compared to other such as ambulatory surgical centers or other end-user.
North America is the largest regional market for speaking valves market.
The global speaking valves market has been segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the speaking valves market. The large share of this regional segment is mainly driven by the well-developed healthcare market and robust R&D infrastructure. The Asia Pacific region is expected to offer significant growth opportunities for players operating in speaking valves market during the forecast period.
The major players operating 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 (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).
Coloplast A/S: Market Leader in Speaking Valves
Coloplast A/S (Denmark) emerged as the leading player in the global speaking valves market in 2023. The company maintains a strong presence across Europe, North America, and Asia, driven by its significant investments in research and development. Coloplast's commitment to innovation and efficient supply chain management has reinforced its market leadership. The company's growth is also supported by inorganic strategies, including acquisitions such as the November 2021 acquisition of Atos Medical, which expanded its portfolio to include voice and respiratory care. These strategic moves have solidified Coloplast's dominance in the speaking valves market.
Freudenberg Group: Key Player in Speaking Valves Market
Freudenberg Group (Germany) commanded a substantial market share in the speaking valves market in 2023. Through its subsidiary Freudenberg Medical's business unit Inhealth Technologies, Freudenberg offers a wide range of speaking valves. The company's extensive distribution network across Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa ensures consistent global product availability and mitigates regional demand fluctuations. Freudenberg's market position is strengthened by continuous innovation, such as the October 2021 launch of the Blom-Singer SpeakFree HME Hands-Free Valve. These efforts reinforce Freudenberg's role as a leading player in the market.
Passy-Muir, Inc.: Prominent Player in Speaking Valves
Passy-Muir, Inc. (US) held a prominent position in the speaking valves market in 2023. The company, with a strong presence in the US, distributes its products globally through international distributors. Passy-Muir enhances its market position not only by providing speaking valves but also by offering training and educational resources for healthcare providers. This commitment to improving patient outcomes and effective product use has significantly contributed to the company's substantial market share.
For more information, inquire now! Inquire Now
Content Source:
https://www.marketsandmarkets.com/PressReleases/speaking-valves.asp
https://www.marketsandmarkets.com/ResearchInsight/speaking-valves-market.asp
