Emphasis on Type (Electronic Larynx Speech Aid Device, Speech Generating Device, and Others); Indication (Aphasia, Larynx-related Disorders, and Others); and Region/Country
The speech aid devices market was valued at USD 954.2 Million in 2022 and is expected to grow at a strong CAGR of around 7.4% during the forecast period (2023-2030) owing to the rising technological advances concerning speech aid devices.
The speech aid devices market is escalating due to several reasons including the rising cases of laryngeal cancer, rise in research & development activities, rising strategic collaborations, and increasing technological advancements. The integration of artificial intelligence with speech aid devices is also driving the market’s growth.
According to the National Cancer Institute, laryngeal cancer represents 0.6% of all new cancer cases in the U.S.
Moreover, in March 2022, Altec Inc. initiated a clinical trial to evaluate the ability of an Augmentative and Alternative Communication (AAC) device, MyoVoice to replace natural speech. This AAC device uses electrical signals recorded non-invasively from speech muscles to restore communication for those with vocal impairments that resulted from surgical treatment of laryngeal and oropharyngeal cancers. Such research & development activities are driving the growth of the market during the forecast period.
This section discusses the key market trends that are influencing the various segments of the speech aid devices market as identified by our team of research experts.
Speech-Generating Devices Transforming Industry Standards
Speech-generating devices (SGDs), also known as augmentative and alternative communication (AAC) devices, are electronic tools designed to help individuals with communication impairments express themselves. These devices are particularly useful for people with conditions such as cerebral palsy, autism, ALS (amyotrophic lateral sclerosis), stroke, or traumatic brain injury, which may affect their ability to speak or write. These devices play a vital role in enabling individuals to participate in social interactions and engage more fully in everyday activities. They can significantly enhance quality of life by giving users a means to communicate their thoughts, needs, and feelings effectively. Ongoing technological advancements further propel the growth of these devices in the market. For instance, in September 2020, Control Bionics announced the newest addition to its Augmentative and Alternative Communication (AAC) device line, the GridPad Trilogy communication solution, which is a neuro-based voice output communication aid intended to help people living with a range of conditions, including spinal muscular atrophy (SMA), cerebral palsy and spinal cord injury.
North America is Expected to Grow with Significant CAGR During Forecast Period
Within North America, the U.S. holds a major share of the market. The major factors boosting the market’s growth in the country are the increasing number of oral cancer cases and aphasia, rising technological advancements, growing research and development activities, growing focus on R&D, a well-established healthcare infrastructure, and the presence of several market players.
According to the American Cancer Society, about 12,650 new cases of laryngeal cancer- 10,030 in men and 2,620 in women are estimated for laryngeal cancer in the U.S. in 2024.
In November 2023, in the U.S-based Duke Department of Neurosurgery Duke neuroscientists, a collaborative team of neurosurgeons, and engineers developed a speech prosthetic that can translate a person’s brain signals into what they’re trying to say. This new technology can help mute people to talk due to neurological disorders and regain the ability to communicate through a brain-computer interface.
The speech aid devices market is competitive, with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Tobii Dynavox AB; PRC-Saltillo; Lingraphica; Atos Medical US; Attainment Company, Inc.; Jabbla; Sentient Healthcare; Luminaud, Inc.; Nu-Vois LLC; Andreas Fahl Medizintechnik-Vertrieb GmbH.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Speech Aid Devices Market
6. Speech Aid Devices Market Revenue (usd Bn), 2020-2030f
7. Market Insights By Type
8. Market Insights By Application
9. Market Insights By Region
10. Speech Aid Devices Market Dynamics
11. Speech Aid Devices Market Opportunities
12. Speech Aid Devices Market Trends
13. Demand And Supply-side Analysis
14. Value Chain Analysis
15. Competitive Scenario
16. Company Profiled
17. Disclaimer
Analyzing the historical market, estimating the current market, and forecasting the future market of the global speech aid devices market were the three major steps undertaken to create and analyze the adoption of speech aid devices in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global speech aid devices market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the speech aid devices market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the speech aid devices market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, indication, and region. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the speech aid devices market. Further, we conducted factor analysis using dependent and independent variables such as type, indication, and region of the speech aid devices market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the speech aid devices market sector across the globe.
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global speech aid devices market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global speech aid devices market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the type, indication, and region in the global speech aid devices market.
The current & future market trends of the global speech aid devices market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the current market size and growth potential of the speech aid devices market?
Q2: What are the driving factors for the growth of the speech aid devices market?
Q3: Which segment has the largest share of the speech aid devices market by type?
Q4: What are the emerging technologies and trends in the speech aid devices market?
Q5: Which region will dominate the speech aid devices market?
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