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Diagnostic Audiometer Market Data Analysis by Production and Gross Margin in 2018-2023

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May 15, 2019: The global diagnostic audiometer market is expected to display higher growth rate over the next five years. Rapid surge in market is credited to the rising number of incidence related to deafness, particularly among geriatric population. Diagnostic audiometer is an electronic instrument, which is designed to diagnose and treat diseases related to hearing loss. Globally, market is predicted to generate massive revenue over the next five years, providing numerous opportunities for industry participants to invest in research and development of diagnostic audiometer devices.

Increasing use of diagnostic audiometer for diagnosis of hearing impairment such as nerve deafness and congenital hearing problem is expected to drive the growth of diagnostic audiometer market over the forecast period. Diagnostic audiometer is also used to determine sensorineural, conductive and mixed hearing loss. Hearing losses are further categorized as per severity into four types such as mild, severe, moderate and profound. Diagnostic audiometer performs an audiometry exam test that determines patients’ hearing functions. Diagnostic audiometer analyzes intensity and the tone of sounds, balance issues and other issues related to the function of inner ear.

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The recent advancement in the diagnostic audiometer products such as digital noise cancellation and speech enhancement are also predicted to foster the market growth over the forecast period. In addition, easy availability of diagnostic audiometer in privately owned stores, clinics, large-scale retailers and governmental stores are anticipated to expand the overall market reach in the near future. Growing trade margins for the diagnostic audiometer devices is credited due to growing consumer demand, thus further driving the market growth.

The recent technological advancement in the healthcare sector coupled with development of novel products & techniques such as the latest wireless technologies is anticipated to foster market growth in the years to come. The diagnostic audiometer offers promising solution to determine whether patients suffering from temporary or permeant hearing loss. Rising number of cases related to hearing loss cases in the U.S. alone is estimated to be doubled in the next three decades.

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The diagnostic audiometer market is broadly categorized into major segments based on the product type such as stand-alone audiometer, hybrid audiometer and PC-based audiometer. Hybrid audiometer segment is growing rapidly in the market with substantial revenue generation in the last few years. Growing popularity of hybrid audiometer segment is attributed to the cost efficiency and higher product penetration.

The diagnostic audiometer market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in healthcare sector, surge in number of research & development activities and existence of well-established industrial infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth.

Asia-Pacific region is estimated to hold a major share in the diagnostic audiometer market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, growing geriatric population, increasing awareness among general public, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the diagnostic audiometer market are The William Demant Holding Group, Otometrics A/S, Natus Medical Inc., INVENTIS S.r.L, Benson Medical Instruments Co., Audit Data A/S, Micro-DSP Technology Co., Ltd., Lisound Hearing Aid (Fuzhou) Co., Ltd., Beijing Beier Biological Engineering Co., Ltd., and Hedera BiomedicsS.r.L.

Global diagnostic audiometer market is anticipated to grow at a CAGR of 5.6% by 2023, according to a new report published by Gen Consulting Company. The report segments the market and forecasts its size, by volume and value, on the basis of application, by products, and by geography (North America, Europe, Asia-Pacific, MEA and South America).

The Global Market for diagnostic audiometer to 2023 offers detailed coverage of diagnostic audiometer industry and presents main market trends. The market research gives historical and forecast market size, demand and production forecasts, end-use demand details, price trends, and company shares of the leading diagnostic audiometer producers to provide exhaustive coverage of the diagnostic audiometer.

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