Vocal Cord Paralysis Market is expected to grow at a CAGR of approximately 3.8% during the forecast period, 2018–2023. The latest Industry Research on Global Vocal Cord Paralysis Market published by MRFR.
Vocal Cord Paralysis Market Overview
Vocal cord paralysis is a medical condition where the nerves leading to the vocal cord is damaged resulting in dysphonia. It is also known as vocal fold paresis. The global vocal cord paralysis market is likely to reach a valuation of USD 2920.2 Mn at a CAGR of 3.8% over t5eh forecast period of 2018-2023, asserts Market Research Future (MRFR) in an extensive study. The growth of the global vocal cord paralysis market is sustained by the high prevalence of brain disorders which can cause vocal cord paralysis. Escalating cases of neck, head, and laryngeal cancers is a prime reason for the growth of the global vocal cord paralysis. Surgeries related to such disorders carry a high risk of causing damage to the vocal cord.
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Advancements in treatment procedures such as endoscopy, laryngoscopy, and others facilitate rapid diagnosis of the condition and thereby foster market growth. Other driving factors include increased healthcare expenditure, especially in developing countries. Improving reimbursement scenario across the globe encourages patients to opt for treatment which further stimulates the growth of the market. On the other hand, the growth of the global vocal cord paralysis market might be hindered by heavy costs associated with the treatment of the diseases which might limit the growth of the market in price-sensitive market.
Vocal Cord Paralysis Market Segmentation
The global vocal cord paralysis market has been segmented based on type and treatment.
By type, the global vocal cord paralysis market has been segmented into unilateral and bilateral. The unilateral segment accounts for the largest share of 89.3% of the global market. The segment is expected to attain a valuation of USD 2646.5 Mn at a CAGR of 3.6% over the forecast period. The bilateral segment is likely to be the fastest growing segment over the forecast period and register a CAGR of 3.8% over the forecast period.
By treatment, the global vocal cord paralysis market has been segmented into voice therapy and surgery. The surgery segment has been further segmented into structural implants, vocal cord repositioning (phonosurgery), bulk injection, and tracheotomy. The voice therapy holds the largest share of 62.8% of the global market and is expected to reach USD 1848.7 Mn by the end of the forecast period. The surgery segment is anticipated to be the fastest growing segment with a CAGR of 3.8% and reach USD 1121Mn by the end of the forecast period.
Vocal Cord Paralysis Market Regional Analysis
By region, the global vocal cord paralysis market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
The Americas accounted for the largest share of 35.4% share of the global market in 2017 and is due to reach USD 1,007.5 Mn in 2023 at a CAGR of 3.4% by the end of the forecast period. Robust healthcare sector, technological superiority, and rising expenditure ion healthcare sector drive the market in the Americas. In addition, the region is highly aware of the medical condition which is acts a plus for the growth of the market.
Europe is a prominent market for vocal cord paralysis and is likely to scale valuation of USD 958.1 Mn at a CAGR of 4% by the end of the forecast period. Similar factors spur the Europe market as the Americas. Also, favorable reimbursement policies and high government support create a conducive environment for the growth of the Europe vocal cord paralysis market.
APAC vocal cord paralysis market is likely to exhibit rapid growth over the forecast period and emerge as the fastest growing market over the forecast period. The increasing prevalence of laryngeal cancer, availability of affordable treatment options and high expenditure on healthcare drive the market in APAC. The APAC market is expected to capture a CAGR of 4.11% over the forecast period.
The MEA market for vocal cord is expected to hold the least share of the market and expand at a CAGR of 3.90% over the forecast period.
Vocal Cord Paralysis Market Competitive Landscape
The prominent players in the global vocal cord paralysis market are Stryker (US), Karl Storz GmbH & Co. KG (Germany), Olympus Corporation (Japan), Teleflex Incorporated (US), Medtronic (US), Smiths Group plc (UK), Cytophil, Inc. (US), LifeCell Corporation (US), Therapy Solutions Inc. (US), and Fujifilm Holdings Corporation (Japan).
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