Audiology Devices Market: Industry Perspective
The report covers forecasts and analyses for the Global Audiology Devices Market. The study provides historic data from 2016 to 2018 along with forecasts from 2019 to 2025 based on revenue (USD Million). In-depth secondary research is used to ascertain overall market size, top industry players, top products, industry associations, etc. Macro-economic indicators such as healthcare industry outlook, healthcare spending, research funding, GDP along with company websites, company annual reports, white papers, financial reports, and other sources have also been considered to arrive at the indicated market numbers.
Electronic devices which are used by audiologists to diagnose and treat hearing impairment or hearing loss are known as audiology devices. These are also used to monitor and study hearing. Frequent hearing loss or hearing impairment are often associated with old age and is a growing problem globally. Cost-effective and efficient devices, technology advancements, and widespread acceptance of novel devices among the elderly population are likely to fuel the market growth for audiology devices. These devices today are being equipped with smart sensors that offer more ease to the users. Besides, wireless hearing aids are being manufactured by many companies which are also gaining traction in the audiology devices market.
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The study provides a decisive view of the audiology devices market by segmenting the market based on product, disease type, end user, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. Based on product the market is segmented into hearing aids, cochlear implants, BAHA/BAHS, and diagnostic devices. The hearing aids market is further segmented into receiver-in-the-ear (RITE), in-the-ear hearing aids (ITE), behind-the-ear (BTE), and canal hearing aids (CHA). The diagnostic devices market is further segmented into tympanometry, otoscopes, and audiometers. Hearing aids dominate the market while cochlear implants are likely to grow at a high CAGR owing to the reduced risk of infection, innovation in implantation techniques, operating time, and complications, and it also improves patients’ ability to hear.
Based on disease type the market is segmented into otosclerosis, otitis media, Meniere’s disease, acoustic tumors, and others. Meniere’s disease segment held the major share of the market in 2018 and is likely to grow at a high CAGR in the forecast period. As per the stats provided by the American Hearing Research Foundation, approx. 0.2% population has Meniere’s disease and almost 46,000 new cases of the disease are diagnosed every year in the U.S. alone. Based on end-user the market is segmented into ambulatory surgical centers, hospitals, and specialty clinics. The specialty clinics segment held the major share of the market in 2018 and is likely to grow at a high CAGR in the forecast period. Regional segmentation includes the current and forecast demand for the Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further bifurcation into major countries.
The study also includes drivers and restraints for audiology devices along with the impact they have on the demand over the forecast period. Besides, the report includes the study of opportunities and trends available in the audiology devices market on a global level. As per the stats provided by WHO, nearly about 10% of the populace globally suffers from hearing impairment. Besides, almost 22% of the geriatric and adult population is affected by hearing loss, and the majority of these cases are found in underdeveloped countries. This incompetence in communicating around is causing frustration and social exclusion and a feeling of loneliness among the aged population. To curb the unmet demand for these audiology devices the manufacturers are developing devices that can be inserted inside the ear, making them invisible, in order to overcome the social stigma connected with such devices. Moreover, technological advancements like digital noise reduction and speech enhancement are likely to facilitate the growth of the market for audiology devices globally.
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The report also provides a company market share analysis in order to give a broader view of the key players in the market. Industry insights and information is delivered in the required format. ZMR develops a list of industry players (manufacturers), distributors, retailers, and industry experts. Some of the players included in the audiology devices market are:
- Benson Medical Instruments
- MED-EL
- William Demant
- AMBCO
- Cochlear
- Nurotron Biotechnology
- Sivantos
- WIDEX
- Sonova
- MedRX
- Medtronic
- Starkey Hearing Technologies
- GN Store Nord.
The report segments the audiology devices market as follows:
Global Audiology Devices Market: Product Segment Analysis
- Hearing Aids
- In-the-Ear Hearing Aids (ITE)
- Receiver-in-the-Ear (RITE)
- Behind-the-Ear (BTE)
- Canal Hearing Aids (CHA)
- Cochlear Implants
- BAHA/BAHS
- Diagnostic Devices
- Tympanometry
- Otoscopes
- Audiometer
Global Audiology Devices Market: Disease Type Segment Analysis
- Otosclerosis
- Meniere’s Disease
- Acoustic Tumors
- Otitis Media
- Others
Global Audiology Devices Market: End User Segment Analysis
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
Global Audiology Devices Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
Report Scope:
| Report Attribute | Details |
|---|---|
| Base Year | 2020 |
| Historic Years | 2016 – 2020 |
| Forecast Years | 2021 – 2028 |
| Segments Covered | By Product Type, By Application, and By End Use |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
Key features of Nutrigenomics Market:
- The raw material suppliers, as well as their market concentration rate, have also been identified.
- The study lists the production cost structures, which include raw material data, manufacturing process analysis, and labor costs.
- All aspects of the industrial chain analysis, downstream buyers, and sourcing techniques have been thoroughly explained.
- A portion of the budget has been set aside for an examination of the marketing strategy used,
- as well as information on the distributors involved in the supply chain.
- The Nutrigenomics Market Market report includes a summary of the cost analysis, main raw materials used, and the changing price patterns of war materials.
- The research includes information on the product marketing channels that were used, marketing channel development trends, price and brand strategies, and the target audience.
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