Audiology Devices Market to achieve CAGR of 6.4% from 2023 to 2032, owing to increasing prevalence of hearing impairment | insightSLICE
The global Audiology Devices market size was estimated to be US$ 9.2 billion in 2021 and is expected grow at a CAGR of 6.4% between 2023 to 2032.
Devices that are designed specifically to address and treat conditions associated with hearing loss are known as audiology devices. Recognizing the hearing condition and assisting patients in receiving quick treatment are the main goals of such devices.
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The key players of the Global Audiology Devices Market are:
The leading participants of the global audiology devices market include Starkey Hearing Technologies; GN ReSound Group; Widex A/S; William Demant Holdings A/S; Phonak, Sonova Holdings AG; NHC/Amplifon; Audioscan; MedRx; and several others.
Driving factors for the growth of Global Audiology Devices Market
The global market for audiology devices is primarily driven by a rising concentration of manufacturers developing products using cutting-edge technology and partnerships with other organizations to enable quicker endorsement and promotion of their goods.
In the upcoming years, the market for audiology equipment is anticipated to directly be impacted by the increase in hearing problems. Many manufacturers provide high-tech amplifiers that are Bluetooth network compatible and designed for in-the-ear (ITE) and behind-the-ear (BTE) versions.
For example, customers may directly stream audio into their amplifiers using Oticon’s Open line of mobile hearing aids, which is compatible with iPhone, iPad, and iPod touch devices. Lively launched an online audiology platform in January 2019 that offers all clients portable hearing aids, testing, and 24/7 online support.
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Due to enhanced clinical systems for treating hearing loss associated with the population aged 60 and above, North America owns the second-largest share in the audiology equipment market. Nevertheless, the Asia Pacific region is anticipated to remain a lucrative economic sector from 2022 to 2032.
The Hearing Loss Association of America (HLAA) collaborates with policymakers to help clients by raising awareness of hearing loss and the specialized medical equipment used in audiology, which is expected to drive market growth during the assessment period of 2022–2032.
One of the examples of leading product is from Amplify Hearing which announced the release of their brand-new hearing screener app in July 2019; it is easily accessible through the Alexa Application Store on Amazon.com.
Signia also announced the release of the Pure Charge&Go Nx, a portable hearing aid that combines remote lithium batteries to provide freedom, comfort, and utterly pure sound. Free hearing tests are provided through Hearing Screener.
Our market report for audiology devices market will provide detailed insights to you:
The Global Audiology Devices Market Report provides a forecast and analysis of the market condition, shares, competitors, and research undertaken in this market. The years before 2020 are considered a historic period, 2021 is considered the base year, and 2022 to 2032 is the forecast period for our report.
The report takes into consideration the competitive landscape, of various companies involved in the Global Audiology Devices Market.
Furthermore, the report would present all key developments, local and international sales, global revenue, business strategies, research & development activities, staff strength, and managerial profile, of all these players operating in the market.
The report provides an in-depth evaluation of top performers possessing a majority share of the international economy and also provides a list of all functioning divisions of the companies involved in the Global Audiology Devices Market.
Additionally, the market shares of well-known businesses in the global market for audiology devices would also be assessed. The analysis takes into account the essential competitive data, company strategy, significant developments, SWOT analysis, and R&D opportunities of the audiology devices market.
The companies involved in the niche fields of the audiology devices market like supply chain and marketing will also have a special mention in this report.
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Our audiology devices market report also has specialized sections that document the entire product portfolio of leading companies along with recent corporate information like mergers, acquisitions, licensing agreements, compliance notices, etc.
Global Audiology Devices Market Key Segments:
By Product Type
- Hearing Aids
- Cochlear Implants
- BAHA/BAHS
- Diagnostic Devices
- Others
By Technology Type
- Digital
- Analog
By Distribution Channel Type
- Retail Sales
- E-commerce
- Others
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of APAC
- Middle East & Africa
- UAE
- South Africa
- Saudi Arabia
- Rest of MEA
- South America
- Brazil
- Rest of South America
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