Electrolarynx Market to Reach $703.0 Million by 2031: Allied Market Research

Electrolarynx Market to Reach $703.0 Million by 2031: Allied Market Research

Allied Market Research

Rise in the prevalence of laryngeal cancer, increase in the consumption of alcohol and tobacco among people, increase in the adoption of technologically advanced electrolarynx devices, and rapid investments in R&D by pharmaceutical companies drive the growth of the global electrolarynx market. Decline in the number of laryngectomy procedures during the pandemic had a negative impact on the growth of the market.

Portland, OR, Nov. 21, 2022 (GLOBE NEWSWIRE) — A new business intelligence report released by Allied Market Research, the global Electrolarynx Market generated $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. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain , key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.

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Report Coverage & Details:

Report Coverage

Details

Forecast Period

2022–2031

Base Year

2021

Market Size in 2021

$409.5 million

Market Size in 2031

$703.0 million

CAGR

5.5%

No. of Pages in Report

190

Covered segments

Type, application, end-user, and region

drivers

Rise in the prevalence of laryngeal cancer

Increase in the consumption of alcohol and tobacco among people, particularly the younger generation

Opportunities

Increase in the adoption of technologically advanced electrolarynx devices

Rapid investments in R&D by pharmaceutical companies

Restraints

High cost of electrolarynx devices

Limited to specific consumers

COVID-19 Scenario:

  • The outbreak of COVID-19 had a negative impact on the growth of the global electrolarynx market, owing to a gradual decline in the number of laryngectomy procedures during the lockdowns in various countries across the globe.

  • Lockdowns resulted in the delay or postponement of non-emergency services, which included laryngectomy procedures.

  • There was a decrease in the number of patients visiting the healthcare center as stringent social distancing restrictions were imposed by the government as well. Therefore, the demand for electrolarynx devices plummeted adversely.

  • However, the market is expected to recoup soon with eased lockdown restrictions.

The report offers detailed segmentation of the global electrolarynx market based on type, application, end-user, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.

Based on type, the built-in battery segment held the dominating market share in 2021, holding around three-fifths of the global electrolarynx market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 5.8% during the forecast period. The report also analyzes the external battery segment.

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Based on application, the laryngeal cancer segment held the dominating market share in 2021, holding nearly three-fifths of the global electrolarynx market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 5.8% during the forecast period. The report also analyzes the speech rehabilitation segment.

Based on end user, the hospitals segment held the dominating market share in 2021, holding around two-fifths of the global electrolarynx market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 6.3% during the forecast period. The report also analyzes the ambulatory surgical centers and others.

Based on region, the market across North America held the dominating market share in 2021, holding around two-fifths of the global electrolarynx market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to quote the fastest CAGR of 6.5% during the forecast period.

The key players analyzed in the global electrolarynx market report include Ultravoice Limited, Inhealth Technologies, Griffin Labs, Servona GmbH, Labex Trade, AMPLICORD DI GABRIELLA SALVATORE, Romet Limted, Nu-Vois, LLC, Andreas Fahl Medizintechnik – Vertrieb GmbH, Atos Medical AB .

The report analyzes these key players in the global electrolarynx market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and progress in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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