Audiology Devices Market 2020 growth factors, latest trend and regional analysis of leading players by 2025
Category: #business  By Ronak Bora  Date: 2021-03-30
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Audiology Devices Market 2020 growth factors, latest trend and regional analysis of leading players by 2025

Audiology Devices Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Global audiology devices market size is expected to proliferate at a considerable rate in the forthcoming years, driven by rising incidences of hearing loss among the geriatric population.

Elderly people are prone to suffering from common conditions such as age-related high-frequency hearing loss. Gradual progression of hearing difficulties among adults of 60 years and above, coupled with the advancements in hearing aid devices to meet the rising demand for innovative products, have created ideal growth conditions for the audiology devices market across the globe.

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As per GMI estimates, the global audiology devices market size is expected to cross $11 billion by 2025.

Assistive listening devices currently available in the market make use of frequency-modulated radio waves to effectively transmit sound. This product feature helps the users in significantly reducing tinnitus annoyance, thereby boosting the overall demand.

Additionally, the recently launched devices for hearing impaired ensure ease of use as well as improve the cognitive learning of the users. These aforementioned factors, along with rapid advancements in technology, are likely to add impetus to the global audiology devices market size over the forecast spell.

However, attempts by the users to conceal or abandon their hearing aid devices to avoid unwanted attention and perceived stigma may present roadblocks to the steady market growth.

In terms of segmentation by product, the global audiology devices market from the diagnostic devices segment is projected to exhibit a CAGR of over 3% through 2026, as innovative diagnostic devices used in the early identification of hearing loss provide qualitative data on hearing impairment as well as quantitative analysis that depicts the hearing loss intensity.

Moreover, superior quality images can be produced by these diagnostic devices, which are of high requirements during the surgical procedures.

On the regional front, the Asia Pacific audiology devices market held a 20% market share in 2018, which can be attributed to favorable demographic situations such as escalating geriatric population in the region.

The global audiology devices market is further slated to witness a significant growth, as the governments across the APAC countries such as China and India are creating high awareness about the advantages of early detection of hearing impairment. Mounting level of noise pollution in Asian countries will likely cause irreversible hearing loss and in turn, bolster the demand for audiology devices.

The competitive landscape of the audiology devices market comprises of companies such as William Demant, Starkey Hearing Technologies, WIDEX, Sivantos, Medtronic, MedRX, MED-EL, GN Store Nord, Cochlear, Sonova, Nurotron Biotechnology, and AMBCO, among others. These key players are focusing on taking strategic initiatives, such as new product launches and M&A, to expand their geographical footprints and gain lucrative growth opportunities over their rivals.

Browse full table of contents (TOC) of this report @ https://www.decresearch.com/toc/detail/audiology-devices-market-report

Partial Chapter of the Table of Content 

Chapter 3. Audiology Devices Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2014 - 2025

3.3. Industry impact forces

3.3.1. Growth drivers

3.3.1.1. Increasing geriatric population

3.3.1.2. Rising incidence of hearing loss disorders globally

3.3.1.3. Technological and product innovation in developed countries

3.3.1.4. Favorable regulatory scenario in North America and Europe

3.3.2. Industry pitfalls and challenges

3.3.2.1. Concerns regarding aesthetic appeal

3.4. Growth potential analysis

3.4.1. By product

3.5. Porter’s analysis

3.6. Regulatory landscape

3.6.1. U.S.

3.6.2. Europe

3.7. Reimbursement scenario

3.8. Competitive landscape, 2018

3.8.1. Strategy dashboard

3.9. PESTEL analysis

Chapter 4. Audiology Devices Market, By Product

4.1. Key segment trends

4.2. Hearing aids

4.2.1. Market size, by region, 2014-2025 (USD Million)

4.2.2. In-the-ear hearing aid (ITE)

4.2.2.1. Market size, by region, 2014-2025 (USD Million)

4.2.3. Receiver-in-the-ear (RITE)

4.2.3.1. Market size, by region, 2014-2025 (USD Million)

4.2.4. Behind-the-ear (BTE)

4.2.4.1. Market size, by region, 2014-2025 (USD Million)

4.2.5. Canal hearing aids ITC, CIS and IIC

4.2.5.1. Market size, by region, 2014-2025 (USD Million)

4.3. Cochlear implants

4.3.1. Market size, by region, 2014-2025 (USD Million)

4.4. BAHA/BAHS

4.4.1. Market size, by region, 2014-2025 (USD Million)

4.5. Diagnostic devices

4.5.1. Market size, by region, 2014-2025 (USD Million)

4.5.2. Tympanometers

4.5.2.1. Market size, by region, 2014-2025 (USD Million)

4.5.3. Otoscopes

4.5.3.1. Market size, by region, 2014-2025 (USD Million)

4.5.4. Audiometer

4.5.4.1. Market size, by region, 2014-2025 (USD Million)

 

About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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