Audiology Devices Market Size Worth USD 13.23 Billion By 2025 | CAGR: 4.8%
Published Date : 01 / 04 / 19 | Report Format: PDF
The global audiology devices market is expected to grow at growth rate of 4.8% to reach USD 13.23 Billion by 2025.
Audiology devices are used when the patients have problems like progressive hearing loss and hearing impairments perceived as old age health disorders. The industry growth is majorly attributed to the steady growth of the aging population coupled with technological advancements. Apart from the increasing cases of reported deafness that spurring the industry growth. Hearing devices that are trending in the market today have a technology enabled and cosmetic appeal. For instance, companies are introducing audiology devices that have automatic features which enable the user’s listening environment perfectly and adjusts processing strategies smoothly to emphasize speech in quiet, at a reasonable distance and in background noise. Hence, as time passes by the acceptance of these novel devices among the end users will contribute to the product demand. On the downside, premium pricing of these devices and implantation surgery will slow down the market’s progression.
- The audiology industry can be classified into four types such as hearing aids, cochlear implants, bone anchored aid, and diagnostic devices. Hearing aids had a humungous revenue share and it is unlikely to exhibit a variation.
- Canal hearing aids have high demand among the end-users as they are small in size with attractive aesthetics. At times they can be difficult to maintain and handle which are probably the only deterrents to its demand.
- Europe dominates the worldwide industry and it is going to certain for the future period. As per the European Federation of Audiology Societies (EGAS), the prevalence of self-reported hearing related problems has increasing significantly.
- Asia Pacific has the fastest growing audiology market with the strong product demand in countries like China and India owing to the large patient pool
- In the global audiology devices industry, some of the stalwart key players are, William Demant Holding, Sonova Holding AG, Starkey Technologies, GN ReSound Group, Siemens Healthcare, Widex A/S, and others
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The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
- Cochlear implants
- In the Ear (ITE) Aids
- Behind-the-Ear (BTE) Aids
- Receiver-in-the-Ear (RITE) Aids
- Canal Hearing Aids
- Hearing aids
- Bone-anchored hearing aid
- Diagnostic devices
MARKET, BY REGION
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Rest of the World
- The Middle East and Africa
- Latin America
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