Based on current analysis the global audiology devices market was valued at USD 10.11 Billion in 2020 and is expected to reach USD 15.75 Billion by 2028, at a CAGR 5.6% audiological device are classified as supporting devices that help improve hearing capacity of an individual suffering hearing impairment and to monitor and study hearing. Deafness is caused because of damage in the ears or harm caused to hearing associated nerves. These impairments happen due to exposure to loud noise, age-related factor, congenital effects and other injuries. As per severity, sensorineural, conductive and mixed hearing loss are classified into mild, severe and moderate. Communication is the most important skill one can have to build and maintain a relationship and be able to put forward important opinions and suggestions. Major market driving factors for the growth of this market, are increasing existence of hearing impairment in old as well as young peers, government interventions for development of healthcare structure of the world, higher spending power and improved standard of living. Development of new products with high efficiency and affordable price rates, technological progressions are some other market drivers contributing to the overall growth and development of the global audiology market.
Adoption of audiological devices is rising owing to increasing number of hearing loss cases and outburst in research and development in developing and developed economies. Development of new products with high efficiency and affordable price rates, technological progressions are some other market drivers contributing to the overall growth and development of the global audiology market. Multiplying prevalence of deafness in the geriatric populated is predicted to drive during the forecast period. North America is expected to dominate the audiology devices market followed by Europe due to increased rate of deafness and higher amount available as disposable personal income.
Top Companies operating in the market and profiled in the report include:
Starkey Hearing Technologies, Sophono, Rayovac, Widex A/S, Benson Medical, Ambco, Amplicomms, Sonova Holdings AG, Trimatrix, MED-EL, Advanced Bionics, All Hear, Cochlear Ltd., and Microson Hearing Aids have been profiled in the report. They are the major manufacturers of the Type.
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The pharmaceutical and healthcare industry has undergone tremendous change over the recent years, especially with the emergence of the COVID-19 pandemic. Increasing accessibility of advanced healthcare systems and low-cost technologies coupled with growing demand for over-the-counter medications has further changed the dynamics of the industry. Integration of robust technologies such as AI and blockchain have helped pharmaceutical companies reduce capital expenditure and strengthen the supply chain. Increasing application of biosimilars, shifting focus to in-silico testing of pharmaceutical products, and rising number of product approvals from regulatory authorities are some key factors driving revenue growth of the market.
Increasing expenditure on RD, growing focus on implementing robust cybersecurity solutions to ensure better medical device connectivity, and development of advanced telehealth software by key companies operating in the field has further added traction to the revenue growth of the market. The Audiology Devices market report discusses the current market scenario with respect to the competitive landscape and offers key insights into the company profiles, product portfolio, production and manufacturing capacity, revenue contribution, and position in the market. It also provides details on recent mergers acquisitions, joint ventures, collaboration, and product launches, among others.
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Type (Revenue in USD Million; 2020–2028)
- Cochlear implants
- Diagnostics devices
- Bone-anchored hearing aids
- Technological hearing aids
- Digital Hearing Aids
- Analog Hearing Aids
- Hearing aids
- In-the-ear Hearing Aids (ITE)
- Receiver-in-the-ear hearing Aids (RITE)
- Behind-the-ear Hearing Aids (BTE)
- Canal Hearing Aids (CHA)
Disease type (Revenue in USD Million; 2020–2028)
- Meniere’s Disease
- Otitis Media
- Acoustic Tumors
- Acoustic Trauma
End use (Revenue in USD Million; 2020–2028)
- Audiology Clinics
- Rehabilitation Centers
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The report provides a comprehensive analysis of the market scope, supply chains, distribution channels, trends and demands in each region, revenue generation, market size, and presence of prominent companies in each region. It studies the revenue growth of the market in each region and their key countries based on several factor such as macro- and micro-economic growth factors, regulatory framework and policies, investment and funding opportunities, RD and technological advancements, and growth prospects.
Key Regions Assessed in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Germany, Italy, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report further segments the Audiology Devices market on the basis of product types and applications and offers details about key factors that are expected to drive revenue growth of each segment and sub-segment.
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