Speech Aid Devices Market: Current Analysis and Forecast (2023-2030)

Report Description

Speech Aid Devices Market Size & Forecast

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.

Speech Aid Devices Market Analysis

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.

Speech Aid Devices Market Trends

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.

Speech Aid Devices Industry Overview

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.

Speech Aid Devices Market News

• In March 2023, in March, Aural Analytics’ speech vitals software received breakthrough device designation from the United States Food and Drug Administration (FDA) to help patients living with amyotrophic lateral sclerosis (ALS).

• In February 2022, Tobii Dynavox, launched TD I-110, its touch-based speech-generating device for Augmentative and Alternative Communication (AAC), which has an ultra-rugged design and powerful performance to fit the needs of individuals with speech impairments and disabilities such as autism, cerebral palsy and aphasia.

• In October 2021, Tobii Dynavox acquired Acapela Group, to enable innovation in communication aids.

• In September 2021, EyeTech Digital Systems announced the release of EyeOn Go, a new 10-inch speech-generating device (SGD) in the augmentative and alternative communication (AAC) product portfolio as a fast, effective communication for verbally impaired individuals. With this device, using symbol or text-based communication, users can quickly and easily generate words and sentences that are then spoken aloud or shared via a built-in messaging app.

• In June 2021, Tobii Dynavox and Advantech co-created a next-generation I-Series AAC device that stands out from the competition to assist physically challenged people with communicating.

Speech Aid Devices Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global speech aid devices market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Speech Aid Devices Market Analysis (2023-2030)

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:

Analysis of Historical Market Size

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 Size Estimate & Forecast

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:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the speech aid devices market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global speech aid devices market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

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.

Split of Primary Participants in Different Regions

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 main objective of the Global Speech Aid Devices Market Study

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:

• Analyze the current and forecast market size of the speech aid devices market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the type, indication, and region
• Define and analysis of the regulatory framework for the speech aid devices industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the speech aid devices market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the speech aid devices market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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