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According to Stratistics MRC, the Global Audiology Devices market is accounted for $8.32 billion in 2017 and is expected to reach $16.98 billion by 2026 growing at a CAGR of 8.2%. Growing geriatric population coupled with increasing prevalence of hearing disorders, favorable government initiatives, increased R&D to develop innovative hearing aids, congenital disability, infectious disease, chronic ear infection and usage of drugs are some key factors boosting the market growth. However, inadequate reimbursement, development of new product with high efficiency and more shelf life are hampering the market scope. In addition, technological improvements in hearing aids will be one of the main trends that will expand traction for the market during the forecast period.
Deafness is a consequence of injury in the ear or damage to the nerves connected with hearing. The causes for this defect comprise congenital defects, injuries, diseases, side effects of medications, age-related factors, and exposure to loud noise. Audiology devices are assistive tools that help enhance hearing ability of patients. These devices differ on the basis of size, shape, features, and hearing conditions. These devices are aimed towards diagnostic purposes as well as for the treatment of impairments associated with hearing. Improvements in technology related to these devices such as PC-based audiometers and hybrid audiometers can simply be integrated with standard computers and operating systems, resulting in enhanced diagnostic performance and treatment decisions. This in turn, is expected to boost the global market over the forecast period.
Among Product, the cochlear implants segment is likely to witness highest share over the forecast period. These implants serve to be an ideal substitute for hearing. Cochlear implant provides about 80% good understanding of a sentence compared to usual hearing aids that provide an average of 10% understanding. These implants use a technology that bypasses the impaired sensory hair cells, further presenting a virtual sense of sound. North America dominated the global market followed by Europe. Owing to the rising occurrence of hearing disorders in children and adults, the demand and acceptance of hearing aids will increase gradually in the coming years in this region. Additionally, the increasing consumer awareness about hearing loss and aids and fast technological advancements in hearing aid devices, will also contribute to the growth of the market in this region.
Some of the key players in the global market include William Demant, Starkey Hearing Technologies, Sonova, Medtronic, WIDEX, Sivantos, Otometrics (acquired by Natus Medical), Nurotron Biotechnology, Microson, MED-EL, Interacoustics, GN Hearing, Frye Electronics, ExSilent, Cochlear, Benson Medical Instruments and Audina Hearing Instruments.
Technology Covered:
• Digital
• Analog
Products Covered:
• Bone Anchored Hearing Aid (BAHA/BAHS)
• Cochlear Implants
• Tinnitus Devices
• Diagnostic Devices
• Hearing Aids
Disease Types Covered:
• Ostosclerosis
• Ménière´s Disease
• Acoustic Tumors
• Otitis Media
• Acoustic Trauma
End Users Covered:
• Ambulatory surgical centers (ASCs)
• Research institutes
• Hospitals
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Deafness is a consequence of injury in the ear or damage to the nerves connected with hearing. The causes for this defect comprise congenital defects, injuries, diseases, side effects of medications, age-related factors, and exposure to loud noise. Audiology devices are assistive tools that help enhance hearing ability of patients. These devices differ on the basis of size, shape, features, and hearing conditions. These devices are aimed towards diagnostic purposes as well as for the treatment of impairments associated with hearing. Improvements in technology related to these devices such as PC-based audiometers and hybrid audiometers can simply be integrated with standard computers and operating systems, resulting in enhanced diagnostic performance and treatment decisions. This in turn, is expected to boost the global market over the forecast period.
Among Product, the cochlear implants segment is likely to witness highest share over the forecast period. These implants serve to be an ideal substitute for hearing. Cochlear implant provides about 80% good understanding of a sentence compared to usual hearing aids that provide an average of 10% understanding. These implants use a technology that bypasses the impaired sensory hair cells, further presenting a virtual sense of sound. North America dominated the global market followed by Europe. Owing to the rising occurrence of hearing disorders in children and adults, the demand and acceptance of hearing aids will increase gradually in the coming years in this region. Additionally, the increasing consumer awareness about hearing loss and aids and fast technological advancements in hearing aid devices, will also contribute to the growth of the market in this region.
Some of the key players in the global market include William Demant, Starkey Hearing Technologies, Sonova, Medtronic, WIDEX, Sivantos, Otometrics (acquired by Natus Medical), Nurotron Biotechnology, Microson, MED-EL, Interacoustics, GN Hearing, Frye Electronics, ExSilent, Cochlear, Benson Medical Instruments and Audina Hearing Instruments.
Technology Covered:
• Digital
• Analog
Products Covered:
• Bone Anchored Hearing Aid (BAHA/BAHS)
• Cochlear Implants
• Tinnitus Devices
• Diagnostic Devices
• Hearing Aids
Disease Types Covered:
• Ostosclerosis
• Ménière´s Disease
• Acoustic Tumors
• Otitis Media
• Acoustic Trauma
End Users Covered:
• Ambulatory surgical centers (ASCs)
• Research institutes
• Hospitals
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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