Speech Generating Devices Market Expected To Reach Nearly US$ 300 Mn through 2017-2022

Posted on 2019-03-29 by Mark Hub in Healthcare // 0 Comments

The purpose of this rich study presented by FactMR is to elaborate the various market projections impacting the global speech generating devices market during the period until 2028. This assessment delivers high-end statistics concerning market size (US$ 300 Mn), Y-o-Y growth and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about growth trends along with opportunities that are expected to reshape the overall structure of the speech generating devices market during the forecast period.

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According to FactMR’s recent report, the global market for speech generating devices is expected to register a staggering expansion at a CAGR of 12.2% during the forecast period 2017 to 2022. The report projects the revenues from global speech generating devices market to account for US$ 168.6 Mn in 2017; by 2022 this number is expected to reach nearly US$ 300 Mn. Speech Generating Devices (SGDs), an assistive technology, are electronic augmentative & alternative communication (AAC) systems enabling individuals with severe speech impairments to verbally communicate. Organization, content, and updating vocabulary of SGDs are influenced by numerous factors such as patient’s requirements, and contexts in which the devices will be utilized. Several input and display methods of SGDs are available, including fixed display, dynamic display, and talking keyboards, for users with varying speech disabilities.

A number of developments in the electronic technology over the past decade have enabled the speech generating devices to be portable and comparatively more user interactive. Several variants of speech generating devices are available on the basis of text, symbol system, cognitive abilities, physical abilities, tongue switches, and eye tracking system. Expansion of the global market for speech generating devices is mainly attributed to advancements in technology and rising availability of user-friendly devices. The National Institute of Deafness & Other Communication Disorders (NIDCD) has anticipated that approximately 7.5 Mn population in the U.S. is affected with speech-related disorders.

Market players in the global speech generating devices market are concentrating on enhancing touch-screen devices to offer users with easy navigation. These manufacturers are enabling speech generating devices to connect with smart phones. Owing to speech generating devices’ portable nature, adoption of these devices is witnessing an upsurge among patients affected with speech-related disorders. This is further expected to pave tremendous opportunities for players in the global speech generating devices market. However, factors such as high cost and low penetration of speech generating devices are expected to curb growth of the market.

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North America is estimated to remain the most lucrative region in the global market for speech generating devices, followed by Europe. In North America, sales of speech generating devices is expected to account for revenues worth US$ 126.7 Mn by 2022-end. Speech generating devices market in Asia Pacific excluding Japan (APEJ) is expected to register the fastest expansion through 2022. By product type, synthesized speech devices are expected to remain preferred in the global market for speech generating devices, followed by picture communicators. Text-to-speech devices’ sales are expected to exhibit the highest CAGR through 2022.

On the basis of display, even though speech generating devices with static display will remain sought-after, sales of speech generating devices with dynamic display will continue to exhibit a comparatively higher CAGR through 2022. Specialty clinics will remain dominant among distribution channels in the global speech generating devices market, witnessing expansion at the highest CAGR during the forecast period. Hospitals will remain the second most lucrative distribution channel for speech generating devices in the market, estimated to account for over US$ 100 Mn by 2022-end. Based on technology, manual segment will witness the largest adoption in the market, followed by eye tracking and head tracking technology-based speech generating devices.

Competition Tracking

FactMR’ report profiles key players in the global speech generating devices market, which include Abilia Toby Churchill Limited, AMDi, Saltillo Corporation, Zyteq Pty Ltd., Tobii Dynavox, Prentke Romich Company, Inc., Lingraphica, Textspeak, and Zygo USA.

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