24-Oct-2019 | Zion Market Research
Zion Market Research has published a new report titled “Audiology Devices Market by Product (Hearing Aids, [In-the-Ear Hearing Aids (ITE), Receiver-in-the-Ear (RITE), Behind-the-Ear (BTE), and Canal Hearing Aids (CHA)], Cochlear Implants, BAHA/BAHS, and Diagnostic Devices [Tympanometers, Otoscopes, and Audiometer]), by Disease Type (Otosclerosis, Meniere’s Disease, Acoustic Tumors, Otitis Media, and Others), and by End User (Hospitals, Ambulatory Surgical Centers, and Speciality Clinics): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2025”. According to the report, global demand for audiology devices market was valued at approximately USD 9,045.0 million in 2018, and is expected to generate revenue of around USD 13,135.8 million by end of 2025, growing at a CAGR of around 5.5% between 2019 and 2025.
Browse the full “Audiology Devices Market: by Product (Hearing Aids, [In-the-Ear Hearing Aids (ITE), Receiver-in-the-Ear (RITE), Behind-the-Ear (BTE), and Canal Hearing Aids (CHA)], Cochlear Implants, BAHA/BAHS, and Diagnostic Devices [Tympanometers, Otoscopes, and Audiometer]), by Disease Type (Otosclerosis, Meniere’s Disease, Acoustic Tumors, Otitis Media, and Others), and by End User (Hospitals, Ambulatory Surgical Centers, and Speciality Clinics): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2025” Report at https://www.zionmarketresearch.com/report/audiology-devices-market
Audiology devices are used by the audiologists to diagnosis and treat hearing loss or hearing impairment. They are also used to study and monitor hearing. Frequent hearing impairment or hearing loss is associated with old age which is a growing problem worldwide. Efficient and cost-effective devices, widespread acceptance of novel devices and technology advancements among the geriatric population base are some of the factors propelling market growth for audiology devices globally. Today, audiology devices are being fortified with smart sensors which offer more ease to the users. Likewise, wireless hearing aids are also being manufactured by many companies which is gaining traction in the audiology devices market.
Almost 22% of the adult and geriatric population is affected by hearing impairment in which majority of cases is from under developed countries. As per WHO, nearly 10% of the populace suffers from hearing loss globally. Besides, social exclusion, incompetence to communicate with people causes frustration, and feeling of loneliness among elderly population. In order to control unmet demand for these devices the manufacturers of this market are developing devices which are invisible when inserted inside the ear, to overcome the social stigma connected with such devices. Likewise, technological advancements like speech enhancement and digital noise reduction are facilitating the market growth for audiology devices globally.
The market for audiology devices is segmented based on disease type, product, end user, and regions. On the basis of product the market is segmented into BAHA/BAHS, hearing aids, diagnostic devices and cochlear implants. The diagnostic devices market is segmented into otoscopes, tympanometers, and audiometer. The segment for hearing aids is further segmented into canal hearing aids, in-the-ear hearing aids, behind-the-ear, and receiver-in-the-ear. The segment for hearing aids accounted major share of the market in 2018, whereas, the segment for cochlear implants are likely to grow at high CAGR in the forecast period due to innovation in implantation techniques, reduced risk of infection, complications, operating time, and improved hearing ability of patient's.
By disease type the market for audiology devices is segmented into otitis media, Meniere’s disease, otosclerosis, acoustic tumors, and others. The segment for Meniere’s disease accounted major share of the market in 2018, and is likely to grow at high CAGR in the forecast period. According to stats by the American Hearing Research Foundation (AHRF), approximately 0.2% of the population suffers from Meniere’s disease and almost 46,000 new cases of this disease are diagnosed every year in the U.S. alone. By end user the market is segmented into ambulatory surgical centers, hospitals, and speciality clinics. The segment for speciality clinics accounted major share of the market in 2018 and is likely to grow at high CAGR in the forecast period.
Regional segmentation includes the current and forecast demand for Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further bifurcation into major countries. North America held major share of the market in 2018, whereas, Asia Pacific is likely to grow at high CAGR in the forecast period. The growth in U.S. market is likely due to growth in the number of audiologists, advancement in the audiology systems, and introduction of novel and innovative digital platforms by manufacturers. The growth in Asia Pacific market is mainly due to constantly improving healthcare infrastructure, rising geriatric population base and age-related hearing problems, health care expenditures, and awareness about audiology devices among populace.
Some of the players included in audiology devices market are William Demant, Benson Medical Instruments, Sonova, Nurotron Biotechnology, Starkey Hearing Technologies, MED-EL, AMBCO, Cochlear, Sivantos, WIDEX, MedRX, Medtronic, and GN Store Nord.
The report segments the audiology devices market as follows:
Global Audiology Devices Market: Product Segment Analysis
Global Audiology Devices Market: Disease Type Segment Analysis
Global Audiology Devices Market: End User Segment Analysis
Global Audiology Devices Market: Regional Segment Analysis
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