North America to Remain the Most Lucrative Market for Speech Generating Devices, Reveals Fact.MR
The global demand for speech generating devices market is expected to exhibit a staggering expansion at 12.2% CAGR over the forecast period 2017 to 2022, according to a report by Fact.MR. The report anticipates the market to account for revenues worth US$ 168.6 Mn in 2017, and the market is further estimated to reach nearly US$ 300 Mn by 2022-end.
Various developments in electronic technology have been witnessed over the past decade, rendering the speech generating devices portable and more user interactive. Speech generating devices exist in several variants on the basis of levels of cognitive abilities, physical abilities, symbol system, tongue switches, text, and eye tracking system.
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Growth of the global speech generating devices market is primarily attributed to increasing availability of user-friendly devices and advancements in technology. According to the National Institute of Deafness & Other Communication Disorders (NIDCD), it is estimated that approximately 7.5 Mn of the U.S. population is affected with some kind of speech related disorders.
Global leaders in speech generating devices market are focusing on enhancement of touch-screen devices for the provision of easy navigation to users. In addition, these manufacturers are providing speech generating devices with the ability to connect with variety of smart phone versions such as iPhone and Android.
On the back of speech generating devices’ portable nature, demand for these devices is gaining higher traction among patients with speech impairments. This is further expected to create huge opportunities for manufacturers of speech generating devices. However, factors such as low penetration of speech generating devices, coupled with their high cost are expected to inhibit growth of the market during the forecast period.
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Projections for the Global Speech Generating Devices Market
- North America will continue to be the most lucrative region for growth of the speech generating devices market, followed by Europe. Revenue from sales of speech generating devices in North America is expected to reach US$ 126.7 Mn by 2022-end.
- Sales of speech generating devices in Asia-Pacific excluding Japan (APEJ) will continue to register the fastest expansion during the forecast period.
- Synthesized speech devices will remain preferred among products in the market, followed by picture communicators.
- Sales of text-to-speech devices are expected to register the highest CAGR in the market through 2022.
- On the basis of display, although static display for speech generating devices will remain sought-after in the market, sales of dynamic display will exhibit a comparatively faster expansion throughout the forecast period.
- Specialty clinics are expected to remain the largest distribution channel for sales of speech generating devices, expanding at the highest CAGR through 2022.
- Hospitals will continue to hold second position in the market based on distribution channel, to account for more than US$ 100 Mn by 2022-end.
- By technology, manual speech generating devices will witness largest adoption, followed by head tracking and eye tracking technology-based speech generating devices.
- Fact.MR’ report profiles key players in the global speech generating devices market, which include Tobii Dynavox, Prentke Romich Company, Inc., Lingraphica, Abilia Toby Churchill Limited, AMDi, Textspeak, Saltillo Corporation, Zyteq Pty Ltd., and Zygo USA.
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- Advancement in technology and rising availability of user-friendly devices to improve the demand
- Increased adoption of portable devices among patients with speech related disorder is accelerating the sales of speech generating devices
- Demand for enhanced touch-screen devices with multiple facilities to create growth opportunities for market players
- High cost and low penetration of speech generating devices to curb the growth of market
Static Display for Speech Generating Devices to Remain Sought-After in the Market
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, the manual segment will witness the largest adoption in the market, followed by eye tracking and head tracking technology-based speech-generating devices.
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More Insights on the Speech Generating Devices Market
Fact.MR offers an unbiased analysis on global speech generating devices market. The report offers a detailed segmentation on Speech Generating Devices market on the basis of product (synthesized speech devices, text-to-speech devices, and picture communicators), display (static display and dynamic display), distribution channel (hospitals, specialty clinics, and e-commerce), and technology (manual devices, head tracking technology) across seven regions.
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