The Audiology Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Audiology Devices Global Market Report 2024, The audiology devices market size has grown strongly in recent years. It will grow from $10.1 billion in 2023 to $10.88 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to economic factors, global health initiatives, aging population, awareness and education, occupational noise exposure.
The audiology devices market size is expected to see strong growth in the next few years. It will grow to $14.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to economic growth and affordability, changing lifestyles and noise exposure, expansion of healthcare services, regulatory changes and standards, occupational noise and hearing loss. Major trends in the forecast period include tinnitus management solutions, environmental adaptation and noise reduction, remote monitoring and telecare, smart hearing aids and ai integration, wearable and discreet designs.
The surging prevalence of hearing loss is expected to propel the growth of the audiology devices market going forward. Hearing loss is a partial or total inability to hear sounds in one or both ears caused by various factors, including genetics, aging, noise exposure, injury or trauma to the ear, infections, and certain medications or illnesses. Audiology devices are used in managing and treating hearing loss by improving speech intelligibility and enhancing communication abilities; as a result, the surging prevalence of hearing loss increases the demand for the audiology devices market. For instance, in February 2023, according to an article published by the World Health Organization, a Switzerland-based public health organization, a total of 430 million people, or more than 5% of the world's population (432 million adults and 34 million children), will need rehabilitation for their incapacitating hearing loss. In addition, over 25% of people over the age of 60 have a hearing loss, and nearly 80% of those with permanent hearing loss reside in developing or underdeveloped nations. Moreover, over 700 million individuals are predicted to have hearing loss by 2050. Therefore, the surging prevalence of hearing loss is driving the growth of the audiology devices market.
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The audiology devices market covered in this report is segmented –
1) By Product: 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), Cochlear Implants, Bone Anchored Healing Aids, Diagnostic Devices
2) By Technology: Digital, Analog
3) By Diseases Type: Otosclerosis, Meniere's Disease, Acoustic Tumors, Otitis Media, Other Diseases
4) By End User: Hospitals, Ambulatory Surgical Centers (ASCs), Research Institutes
Technological advancements in OTC hearing aid devices are the key trend gaining popularity in the market for audiology devices. Major companies involved in the audiology devices market are focused on technological advancements and innovating new products to sustain their position in the market. For Instance, In February 2022, GN Store Nord A/S, a Denmark-based manufacturer of hearing aid solutions, launched Jabra Enhance Plus, an OTC-class self-fitting hearing enhancement earbud. This earbud is designed with advanced hearing technology to help millions of Americans with mild-to-moderate hearing loss. The product also offers advanced features for hearing enhancement in a miniaturized and comfortable design. The earbuds have a smartphone app for personalized self-fitting and Bluetooth connectivity for seamless audio streaming and phone calls.
The audiology devices market report table of contents includes:
Executive Summary
Audiology Devices Market Characteristics
Audiology Devices Market Trends And Strategies
Audiology Devices Market - Macro Economic Scenario
Global Audiology Devices Market Size and Growth
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Global Audiology Devices Market Competitive Benchmarking
Global Audiology Devices Market Competitive Dashboard
Key Mergers And Acquisitions In The Audiology Devices Market
Audiology Devices Market Future Outlook and Potential Analysisx
Appendix
Top 5 Major Key Players Are:
Demant A/S
Cochlear Ltd
Starkey Laboratories Inc
GN Store Nord A/S
MED-EL Medical Electronics
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This Report covers both the pre- and post COVID-19 impacts.The Audiology Devices Market Size 2021-2027 provides detailed competitive analysis, including market share, size, future scope, and future outlook.
Companies are investing heavily in new electric mopeds and scooters to make them more efficient.Get a Sample PDF of the Report at : Request Free Sample Report List Of TOP KEY PLAYERS in Audiology Devices Market Report are -William Demant Holdings A/SGE HealthcareGN ReSound GroupSonova Holdings AGStarkey Hearing TechnologiesSiemens HealthcareWidex A/SPhonakCochlear LtdInteracousticsAudioscanRayovacAdvanced BionicsMED-ELNatusDuracellGrason-StadlerSophonoAudioscanOticonMedRxPower OneTimes Health CareSuyog Medical Private LimitedSai Vaibhav MedineedCOVID-19 Impact on Market:In December 2019, the COVID-19 epidemic began in Wuhan (China), and has been spreading rapidly around the world.
Due to travel bans and lockdowns, the COVID-19 epidemic has affected many countries' economies and industries.
This outbreak has caused major disruptions in the food and drink industry, including supply chain breakdowns, cancellations of technology events, and office closures.
This report includes all aspects of the industry and a study of key players, including market leaders, followers, as well as new entrants.
This will provide a clear futureistic view of this industry for decision-makers.About Us:Maximize Market Research has served esteemed clients including Yamaha, Boeing, Sensata, Etnyre, Canada, ALCOR M, Microsoft, Harman, and other 200 MNCs worldwide.
The Audiology Devices Market report takes a holistic approach to the market and gives market insights, historical analysis, and verifiable projections pertaining to the market size in the forecast duration.
The estimations derived in this report are deduced by employing precise analytical tools, research methodologies, estimates, and reliable data sources.
The information offered in the report makes it an exhaustive database for all facets of the market categorized into product types, applications, end-user industries, prominent manufacturers, technology, and regional markets.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.
This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
Request a Sample for this report to better evaluate our wide-ranging investigation by clicking here@ https://www.reportsanddata.com/sample-enquiry-form/1485The Audiology Devices market intelligence study includes a separate section dedicated to crucial parameters like the pricing structure of vital feedstock and value chain analysis, along with the study of major suppliers of the raw materials.
The global audiology devices market size is expected to reach USD 15.5 billion by 2026 registering a CAGR of 5.8%, according to a new report by Grand View Research, Inc. Increasing cases of hearing disorders, especially in geriatric population, rising purchasing capacity, investments in R, and government support for better healthcare infrastructure are expected to drive the market over the forecast period.High comfort offered by newly introduced devices, improved connectivity, and better user interface are some of the factors attributing to high usage rate of audiology devices.
Better quality of life along with acceptance of digital hearing aids are anticipated to further drive the market.
In a study published in January 2019, it was observed that hearing aids reduce symptoms associated with dementia.
However, usage is hampered due to the exclusion of hearing aids or exams for fitting hearing aids from the Original Medicare program.Hearing aids segment led the market in 2018 and will hold its leading position in future.
However, cochlear implants is expected to be the fastest-growing segment over the forecast period.
Cochlear implants are widely used owing to their high effectiveness, in terms of sentence understanding.Further key findings from the study suggest:Digital hearing aids led the technology segment in terms of market share in 2018 due to their increased adaptability and connectivity with mobile devicesRetail sales channel was the dominant segment in 2018 and is projected to expand further at the fastest CAGR during the forecast periodNorth America dominated the global audiology devices market in 2018 due to technological advancements and presence of major market participants in the regionAsia Pacific is anticipated to witness the fastest CAGR owing to improving healthcare infrastructure along with growing geriatric population in emerging countries, such as India and ChinaKey industry participants include GN ReSound Group;William Demant Holdings A/S; Starkey Hearing Technologies; Widex A/S; Sonova Holdings AG; Phonak, Audioscan; MedRx; Austar Hearing; National Hearing Care; and NHC/AmplifonAccess full research report on global audiology devices market: www.grandviewresearch.com/industry-analysis/audiology-devices-market
